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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]
The 1933 double eagle is a United States 20-dollar gold coin. Although 445,500 specimens of this Saint-Gaudens double eagle were minted in 1933 in the midst of the Great Depression, [1] none were ever officially circulated, and all but two were ordered to be melted down. However, 20 more are known to have been rescued from melting by being ...
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 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 final bank panic in February 1933 saw widespread hoarding of gold and currency as well as international drains on gold reserves. Roosevelt started his term with banking suspended in most states and domestic gold reserves seriously depleted. [ 1 ]
A double eagle is a gold coin of the United States with a denomination of $20. [1] (Its gold content of 0.9675 troy ounces [30.09 g] was worth $20 at the 1849 official price of $20.67/ozt.) The coins are 34 mm × 2 mm and are made from a 90% gold (0.900 fine or 21.6 kt) and 10% copper alloy and have a total weight of 1.0750 troy ounces (1.1794 ...
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.
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.