1933 Gold Ban

Full Name
Executive Order 6102 Forbidding the Hoarding of gold
Start Date
Primary Date
End Date
Parent Event

On 4/5/1933 President Franklin Roosevelt signed Executive Order 6102 which forbit the Hoarding of gold coins, bullion and gold certificates within the continental United States

  • Effectively outlawed the ownership of old in the United States (except for Jewelry)
  • Allowed the US government to confiscate citizens gold
  • First time gold was outlawed in the US
  • US Citizens were paid $20.67 per ounce of Gold
  • The Government later revalued Gold at $35 per ounce
  • Profits from this revaluation were used to fund the ESF (Exchange Stabalization fund)

Legal Basis for 6102 Order

  • Based on 1917 Trading With The Enemy Act
  • Supported by the 1933 Emergency Banking Act


1933 Gold Ban Criticisms