Mourning the 90 th Anniversary

Patrick A. Heller

This week we observed the 90th anniversary of one of the most important events in the history of precious metals. On April 5, 1933, U.S. President Franklin Roosevelt signed Executive Order 6102. This ordered U.S. citizens to turn in their gold coins and gold certificates that they owned in excess of $100 face value to be fully compensated with Federal Reserve Notes of the same face value and purchasing power. The order did provide an exclusion to not turn in gold coins and gold certificates that might have collector value higher than face value. The reason for that was Roosevelt had received legal advice that calling in such coins and currency might require the government to pay out the collector value instead of face value. At the time, only a very…

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World Coin News (Digital) - 1 Issue, May 2023

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