Friday, 22nd August 2008 (536 views)

An expert from Numismatic News has been answering questions on the history of gold coins in the US.

Alan Herbert was asked if there has been a ban on owning the Canadian 1967 $20 gold coin in the US.

Mr Herbert said there was a ban until January 1974 and that the ban was put in place because the coin was listed as modern and so was not eligible to be transported in the neighbouring country.

Despite this, he added, many were smuggled across the border.

In addition, Mr Herbert said that President Franklin D Roosevelt's decision to stop the minting of gold coins in the US and prohibit the sale and export of the coins in 1933 was "probably unconstitutional".

In other numismatic news, the website said a rare 1851 Augusts Humbert $50 gold piece will go on auction at Bowers and Merena Auctions on September 13th.

 

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