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Executive Order 6102 | April 5, 1933

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Seventy eight years ago today Executive Order 6102 made precious metal history.  This now famous sign was displayed by all Postmasters “in a conspicuous place,” and private gold ownership was never thought of the same again.  “FORBIDDING THE HOARDING OF GOLD COIN, GOLD BULLION, AND GOLD CERTIFICATES.”  It required U.S. citizens 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 per troy ounce.  Being signed by President Roosevelt with very specific instructions on where to take your gold, and what would happen to you if you did not.

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Written by Robert L. Wilson

April 5, 2011 at 4:05 am

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