posted on Oct, 10 2008 @ 01:31 PM
Oct. 10 (Bloomberg) -- Gold tumbled from the highest since July as the dollar strengthened and investors sold the metal to cover losses in equity
Gold hit a high of $930 earlier today. It hit a low of $740. a month ago.
Gold was not confiscated in 1933 I might add. As with all countries whom had gold coinage at one time or the other it was called in because the price
of gold exceeded the value of the coins themselves. They were given paper money in exchange for their gold coins.
Thats also why the US penny is minted from zinc now due to the increased cost of copper. A plastic penny coin is actually being considered.