Thursday, August 21, 2008

Canadian Gold Coins Once Illegal to Own in U.S.

Wasn't there a ban on owning the Canadian 1967 $20 gold coins, and when was it lifted?

The Canadian gold coin was one of those listed as a modern coin and thus not eligible for importation into the U.S. The ban was lifted at midnight on Dec. 30, 1974. Previous to that, there were severe restrictions on ownership of most modern gold, but many were smuggled in anyway.

In 1857 when the government ended the circulation of foreign coins in the U.S., the Spanish dollars were redeemed, but did they pay full value for them?

Coins from a variety of countries, but mostly Spanish reales including the 8 reales or Spanish dollars, were redeemed at post offices, land offices and at the U.S. Treasury, but only for about 80 cents to the dollar. This was due . . .

Full story at: Link

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