Yes, in this country, from 1933 to 1974 it was illegal for U.S. citizens to own gold in the form of gold ingots, without a special license. On January 1, 1975, these restrictions were lifted and gold can now be held freely in the United States without licenses or restrictions of any kind. Gold can now be owned as a non-monetary product, and many people are taking advantage of this by investing in a Gold IRA rollover review. However, any attempt by private citizens to reintroduce gold money as a medium of exchange will be quickly challenged by the government as an illegal competition against its monopoly on paper money.
The ownership of gold was not legalized to restore solid money, but because the government no longer considers gold to be important. Please wait a moment and try again. While nominal gold holds were exempt from these edicts, any subsequent use or holding of gold was under the direct control of the government. The legalization of gold ownership will allow the market to demonstrate that gold is the preferred medium for trading.
