- Gold could legally be owned until 1933, when the federal government reversed the authorization in response to the Depression and market crashes. To bolster federal reserves, gold was confiscated. Personal ownership and trading was not allowed again until August 1974. The confiscation powers still exist under the Emergency Banking Relief Act.
- Gold bullion can be sold in private sales, but most selling now happens through banks or on the stock market, through exchange-traded funds and futures options. Public market transactions are subject to stock rules and oversight of the Securities Exchange Commission. Private selling is regulated on a tax basis by the Internal Revenue Service.
- A number of tax regulations impact gold trading. For example, any cash transaction above $10,000 must be reported to the IRS on Form 8300. Additionally, selling gold for profit is considered taxable income, and the tax rate goes up to 28 percent of the transaction's profit.