Springfield
Silver Member
... The talk out there concerning the Gold Act of 1933 spurring a mass digging up of caches of 50+ year old coinage to turn into bullion so it was 'spendable' again on boots, beans and guns, especially around the 30's, has never sat well with me. Quite frankly, I pretty much do not buy it. There are things about that theory that just don't make sense, and I haven't seen questioned publicly. ...
The popular theories contend that the bigger caches also had smaller satellite caches nearby: jars of coins, eg, called 'traveling money' by some - your 'boots and beans' dough for the faithful troops' use. Remember, small amounts of coinage was allowed by the Gold Act and could be exchanged for paper money as needed. But, whaddaya going to do with a ton or two of coins - the major caches? Melting into bullion makes sense for large amounts, and given the timing of so many treasure legends surfacing in the '30's, seems to fit. Of course, it's all speculation based on deductive reasoning, which may or may not be accurate.
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