Cryptocurrency Q&A
Why is it illegal to own a Double Eagle coin?
Why is it illegal to own a Double Eagle coin?
WindRider
Tue Oct 15 2024
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6 answers
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I heard that owning a Double Eagle coin is considered illegal. I'm curious about the reason behind this. Why would a coin, which seems like a piece of history, be prohibited from private ownership?
6 answers
Luca
Thu Oct 17 2024
Compounding the situation was the enactment of the Gold Reserve Act of 1934, a legislative measure that further constrained the use and ownership of gold. The Double Eagle coins, being gold-based, were inevitably caught in the crosshairs of these restrictions.
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AndrewMiller
Thu Oct 17 2024
As a result, the Double Eagle coins became subject to stringent ownership regulations and even faced the possibility of confiscation. This transformation from potential currency to restricted asset marked a significant shift in their fate.
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CryptoTrader
Thu Oct 17 2024
The U.S. Mint crafted an impressive quantity of 445,500 Double Eagle coins, a testament to its production capabilities. However, these coins never saw the light of day in circulation due to unforeseen circumstances.
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SsamziegangSerenade
Thu Oct 17 2024
The Double Eagle coins, once destined for widespread circulation, were instead confined to the realms of collectors and historians. Their rarity and historical significance have since made them highly sought-after among enthusiasts and investors alike.
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Leonardo
Thu Oct 17 2024
The abrupt halt in their distribution stemmed from a momentous decision by authorities - the issuance of a gold recall order. This directive disrupted the natural flow of the Double Eagle coins into the economy.
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