That is also incorrect. President Roosevelt issued an executive order in 1933 fixing the price of gold and then made it so US denominated gold coins could no longer be minted and accepted as US currency. He then told the public that they must turn in their US denominated gold coins to get that amount for them. But it was always legal to hold gold in any form, however, because its price was fixed by Executive Order nobody traded in it. Roosevelt did that because Federal money was still backed by gold so the government tried to get as much of it as they could for the Federal Reserve. When Nixon further devalued our currency by taking us off the gold standard in 1973 then gold and silver became traded like any other commodity. That was the root cause of inflation in the 1970's. It just so happens that every country and our own Federal Reserve still regard Gold as the one true money outside of their own fiat systems and ever since Biden and the Globalists began taking over Central Banks all over the World have been acquiring and hoarding massive amounts of gold. .