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Executive Order 6102 also led to the extreme rarity of the 1933 Double Eagle gold coin. The order caused all gold coin production to cease and all 1933 minted coins to be destroyed. About 20 such coins were stolen, leading to an outstanding US Secret Service warrant for arrest and confiscation of the coins. [8]
Executive Order 6814 closely mirrors Executive Order 6102, which FDR signed on April 5, 1933, "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States" with some differences.
In 1933, in an attempt to end the 1930s general bank crisis, U.S. president Franklin D. Roosevelt issued Executive Order 6102, which provisions included: . Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion, and gold certificates ...
The increase in gold reserves increased the money supply, lowering real interest rates which in turn increased investment in durable goods. A year earlier, in 1933, Executive Order 6102 had made it a criminal offense for U.S. citizens to own or trade gold anywhere in the world, with exceptions for some jewelry and collector's coins. These ...
The Gold Clause Cases were a series of actions brought before the Supreme Court of the United States, in which the court narrowly upheld the Roosevelt administration's adjustment of the gold standard in response to the Great Depression.
You may have heard of the Saint Gaudens Double Eagle 1933 which sold for a record-breaking $7.59 million at an auction, and other valuable coins that have been sold for more than a few silver dollars.
April 5 – U.S. President Franklin D. Roosevelt declares a national emergency and issues Executive Order 6102, making it illegal for U.S. citizens to own gold. April 15 – The Indiana State Police begins operations. April 19 – The United States officially goes off the gold standard.
On March 15, 1933, the first day of stock trading after the extended closure of Wall Street, the Dow Jones Industrial Average gaining 8.26 points to close at 62.10; a gain of 15.34%. As of October 2024 [update] , the gain still stands as the largest one-day percentage price increase ever .