Executive Order 6102—Requiring Gold Coin, Gold Bullion and Gold Certificates to Be Delivered to the Government | The American Presidency Project

By merit of the agency vested in me by section 5 ( boron ) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, entitled “ An Act to provide easing in the existing national emergency in bank, and for early purposes, ” in which amendatory Act Congress declared that a serious emergency exists, I, Franklin D. Roosevelt, President of the United States of America, do declare that said national emergency inactive continues to exist and pursuant to said section do hereby prohibit the billboard of gold coin, gold bullion, and aureate certificates within the continental United States by individuals, partnerships, associations and corporations and hereby prescribe the watch regulations for carrying out the purposes of this ordain :
section 1. For the purposes of this rule, the term “ hoard ” means the withdrawal and withholding of aureate coin, amber bullion or gold certificates from the recognized and accustomed channels of trade wind. The condition “ person ” means any person, partnership, association or pot .
segment 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve Bank or a outgrowth or representation thereof or to any extremity bank of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following :
( a ) such sum of gold as may be required for legitimate and customary use in diligence, profession or art within a fair prison term, including gold prior to refining and stocks of gold in fair amounts for the common deal requirements of owners mining and complicate such gold.

( b-complex vitamin ) Gold coin and gold certificates in an amount not exceeding in the aggregate $ 100 belonging to any one person ; and gold coins having a recognized extra value to collectors of rare and unusual coins .
( speed of light ) Gold mint and bullion earmarked or held in trust for a recognized foreign Government or extraneous central bank or the Bank for International Settlements .
( vitamin d ) Gold mint and bullion licensed for other proper transactions ( not involving hoarding ) including amber mint and bullion imported for reexport or held pending action on applications for export licenses .
part 3. Until otherwise ordered any person becoming the owner of any gold coin, gold bullion, or gold certificates after April 28, 1933, shall, within three days after acknowledge thereof, deliver the same in the manner prescribed in Section 2 ; unless such gold mint, gold bullion or gold certificates are held for any of the purposes specified in paragraph ( a ), ( b ), or ( speed of light ) of section 2 ; or unless such gold mint or aureate bullion is held for purposes specified in paragraph ( d ) of section 2 and the person holding it is, with deference to such gold coin or bullion, a licensee or applicant for license pending military action thereon.

section 4. Upon acknowledge of gold mint, gold bullion or gold certificates delivered to it in accordance with Sections 2 or 3, the Federal Reserve Bank or member depository financial institution will pay therefor an equivalent measure of any other form of coin or currency coined or issued under the laws of the United States .
section 5. Member banks shall deliver all gold mint, gold bullion and gold certificates owned or received by them ( other than as exempted under the provisions of Section 2 ) to the Federal Reserve Banks of their respective districts and receive accredit or payment therefor .
incision 6. The Secretary of the Treasury, out of the sum made available to the President by Section 501 of the Act of March 9, 1933, will in all proper cases pay the fair costs of exile of gold mint, gold bullion or amber certificates delivered to a member bank or Federal Reserve Bank in accordance with Section 2, 3, or 5 hereof, including the cost of policy, protection, and such other incidental expense costs as may be necessity, upon product of satisfactory tell of such costs. Voucher forms for this purpose may be procured from Federal Reserve Banks .
incision 7. In cases where the delivery of gold coin, gold bullion or aureate certificates by the owners thereof within the time set forth above will involve extraordinary hardship or difficulty, the Secretary of the Treasury may, in his free will, extend the time within which such delivery must be made. Applications for such extensions must be made in writing under curse, addressed to the Secretary of the Treasury and filed with a Federal Reserve Bank. Each lotion must state the date to which the extension is desired, the sum and location of the gold coin, aureate bullion and gold certificates in deference of which such application is made and the facts showing extension to be necessary to avoid extraordinary adversity or difficulty.

section 8. The Secretary of the Treasury is hereby authorized and empowered to issue such far regulations as he may deem necessity to carry out the purposes of this orderliness and to issue licenses thereunder, through such officers or agencies as he may designate, including licenses permitting the Federal Reserve Banks and member banks of the Federal Reserve System, in revert for an equivalent measure of other coin, currentness or credit, to deliver, allow or hold in trust gold coin and bullion to or for persons showing the motivation for the same for any of the purposes specified in paragraph ( a ), ( c ) and ( d ) of section 2 of these regulations .
section 9. Whoever willfully violates any provision of this executive Order or of these regulations or of any principle, regulation or license issued thereunder may be fined not more than $ 10,000, or, if a natural person, may be imprisoned for not more than ten years, or both ; and any officer, conductor, or agent of any pot who wittingly participates in any such rape may be punished by a like all right, imprisonment, or both .
This order and these regulations may be modified or revoked at any time .

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