Roosevelt's Gold Grab: When FDR Took Americans' Gold in 1933

In 1933, President Franklin D. Roosevelt signed Executive Order 6102, effectively outlawing private ownership of monetary gold in the United States.

The order required Americans to turn in their gold to the Federal Reserve or authorized banks within a short period, with exemptions for certain types of gold such as coins and jewelry.

The government paid $20.67 per ounce for the surrendered gold, but later raised the official price from $35 an ounce under the Gold Reserve Act of 1934.