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. In addition, gold is also a popular investment option for those looking to minimize taxes in IRAs and is considered a hedge against inflation. For those looking for additional security, IRA Gold accounts are available as an investment option and provide a safe haven for investors. There were some exemptions that included regular use in industry, profession or art, a provision that included artists, jewelers, dentists, sign makers, etc.
We will send you the most current and interesting news about sovereign and financial wealth directly to your inbox. This measure was necessary, since President Ford enacted a bill that legalized private ownership of coins, gold ingots and gold certificates through an Act of Congress codified in the Pub. This occurred when President Gerald Ford, in late 1974, signed an executive order, in accordance with an act of Congress, and re-legalized private ownership of gold ingots, coins and certificates, thus ending decades of criminalization of gold ownership. These prohibitions were relaxed starting in 1964: private investors again granted gold certificates on April 24, 1964, although the obligation to pay the certificate holder on demand in kind of gold would not be respected.