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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]
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 Agricultural Adjustment Act included the Thomas Amendment, a provision that allowed the president to reduce the gold content of the dollar, to coin silver dollars, and issue $3 billion in fiat money not backed by gold or silver. In April 1933, Roosevelt took the United States off the gold standard. [65]
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. Emergency Conservation Work founded. April 7 – Sale of some beer is legalized in the U.S. under the Cullen-Harrison Act of March 22, 8 months before the full repeal of Prohibition in December.
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.
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.
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 ...
1933 was a common year starting on Sunday of the Gregorian calendar, the 1933rd year of the Common Era (CE) and Anno Domini (AD) designations, the 933rd year of the 2nd millennium, the 33rd year of the 20th century, and the 4th year of the 1930s decade.