Gold Confiscation Order

US President’s Gold Confiscation Order issued April 5th 1933

Signed by President Franklin D. Roosevelt "forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States".

• The order caused all gold coin production to cease and all 1933 minted coins to be destroyed.

• The main rationale behind the order was to remove the constraint on the Federal Reserve which prevented it from increasing the money supply during the depression; the Federal Reserve Act (1913) required 40% gold backing of Federal Reserve Notes issued.

US President’s Gold Confiscation Order issued April 5th 1933