Search results
Results from the WOW.Com Content Network
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]
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 double eagle continued to be struck until May. On December 28, 1933, Acting Secretary of the Treasury Henry Morgenthau ordered Americans to turn in all gold coins and gold certificates, with limited exceptions, receiving paper money in payment. [50] Millions of gold coins were melted down by the Treasury in the following years.
The eagle is a United States $10 gold coin issued by the United States Mint from 1795 to 1933.. The eagle was the largest of the five main decimal base-units of denomination used for circulating coinage in the United States prior to 1933, the year when gold was withdrawn from circulation.
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 ...
A Series 1934 $10,000 gold certificate depicting Salmon P. Chase, Smithsonian Institution. Gold certificates were issued by the United States Treasury as a form of representative money from 1865 to 1933. While the United States observed a gold standard, the certificates offered a more convenient way to pay in gold than the use of coins
The last gold American coins minted, the twenty-dollar 1933 Double Eagle series, were delivered to the U.S. Mint to be melted. Most of the coins were never put into circulation but were melted down, but at least 20 were stolen and remained in existence.
The first 100 of 312,500 1933 Double Eagle $20 gold pieces were delivered by the United States Mint to the U.S. Treasurer. Because the coins were never put into circulation, and nearly all would be melted into gold bricks, they became the most rare and valuable of American coins.