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US Treasury will give you paper for gold coins

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  • Jerry Fleischner
    Within the last month, a member asked for reference regarding gold dollars and paper dollars. (Thanks to member cbwells2004 whose message of 12/29/2006 I had
    Message 1 of 1 , Aug 5, 2007
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      Within the last month, a member asked for reference regarding gold dollars and
      paper dollars.

      (Thanks to member cbwells2004 whose message of 12/29/2006 I had saved)

      US Code Title 31 sec 5118(b) reads

      The United States Government may not pay out any gold coin. A person lawfully
      holding United States coins and currency may present the coins and currency to
      the Secretary of the Treasury for exchange (dollar for dollar) for other
      United States coins and currency (other than gold and silver coins) that may
      be lawfully held. The Secretary shall make the exchange under regulations
      prescribed by the Secretary.
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