3319

Gold Coin Policy from Federal Reserve 1954 [196642]

Currency:USD Category:Coins & Paper Money Start Price:50.00 USD Estimated At:100.00 - 300.00 USD
Gold Coin Policy from Federal Reserve 1954 [196642]
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Important circular from Alfred Williams, President of the Federal Reserve Bank of Philadelphia dated February 4, 1954 to all Banking Institutions concerning the return of gold coin. Gold coins are being delivered to banks by persons who are not informed of the fact they can continue to hold, acquire , transport or sell such coins if they were of recognized special value on April 5, 1933...Williams authorizes the banks to advise the depositor to consult a recognized numismatist for an opinion. He further explains: any gold coin, whether or not rare, deposited in a bank become the property of the United States.
The reverse of the circular has explanation from 1934 from Henry Morgenthau, Jr. Secretary of the Treasury of the suspension of gold order.
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Provenance: Fred Weinberg Numismatic Ephemera Collection

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