Cryptocurrency Q&A
Why are gold coins illegal?
Why are gold coins illegal?
EclipseChaser
Thu Nov 07 2024
|
5 answers
1264
I heard that gold coins are considered illegal in some contexts, and I'm curious about the reason behind it. Could it be related to their value, or maybe there's some historical or legal background that makes them unacceptable?
5 answers
amelia_jackson_environmentalist
Sat Nov 09 2024
The Gold Reserve Act of 1934 marked a significant shift in the economic landscape of the United States.
Was this helpful?
386
48
Caterina
Fri Nov 08 2024
This legislation prohibited American citizens from holding gold, with a few exceptions such as jewelry and collectors' coins.
Was this helpful?
95
66
DongdaemunTrendsetter
Fri Nov 08 2024
The act was passed as a measure to stabilize the country's financial system during the Great Depression.
Was this helpful?
52
25
InfinityRider
Fri Nov 08 2024
Enforcement of the Gold Reserve Act was strict, and several individuals faced indictment for violating its clauses.
Was this helpful?
380
91
EnchantedSeeker
Fri Nov 08 2024
These clauses restricted gold ownership and trade, making it illegal for most people to possess the precious metal.
Was this helpful?
351
22
