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South Korean Gold

Why Did South Koreans Give Up Their Gold in 1998?

The Republic of Korea is an East Asian country that occupies the southern half of the Korean Peninsula and shares a land border with North Korea. The Yellow Sea forms its western border, while the Sea of Japan forms its eastern border. The country has a population of 51 million people. Roughly half of them …

Why Did South Koreans Give Up Their Gold in 1998? Read More »

It was illegal for Americans to own gold (except for some jewelry and collectors coins) between 1933 and 1975.

Gold Reserve Act The United States Gold Reserve Act of January 30, 1934 required that all gold and gold certificates held by the Federal Reserve be surrendered and vested in the sole title of the United States Department of the Treasury. It also prohibited the Treasury and financial institutions from redeeming dollar bills for gold, …

It was illegal for Americans to own gold (except for some jewelry and collectors coins) between 1933 and 1975. Read More »