1933 24K Gold Executive Order

13906
$300.00

1933 24K Gold Executive Order

  • Made of 125 Milligrams of 24K Gold
  • Assayable
  • Custom Framed - Approximate Size 12-1/2" X 17
  • Includes A Unique Serial Number
  • Limited Production
  • Gold Executive Order Recall by Franklin D. Rosevelt in 1933

Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of gold coin, gold bullion, and gold certificates owned by them to the Federal Reserve, in exchange for $20.67 (equivalent to $408 in 2019) per troy ounce. Under the Trading with the Enemy Act of 1917, as amended by the recently passed Emergency Banking Act of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to $198,000 in 2019) or up to ten years in prison, or both.

Order 6102 specifically exempted "customary use in industry, profession or art", a provision that covered artists, jewelers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins (a face value equivalent to 5 troy ounces (160 g) of gold valued at about $6,339 in 2016). The same paragraph also exempted "gold coins having recognized special value to collectors of rare and unusual coins". That protected recognized gold coin collections from legal seizure and likely melting.

The price of gold from the Treasury for international transactions was then raised by the Gold Reserve Act to $35 an ounce (equivalent to $691 in 2019). The resulting profit that the government realized funded the Exchange Stabalization Fund established by the Gold Reserve Act in 1934.

The regulations prescribed within Executive Order 6102 were modified by Executive Order 6111 of April 20, 1933, both of which were ultimately revoked and superseded by Executive Orders 6260 and 6261 of August 28 and 29, 1933, respectively.

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