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1933 Executive Order
Below is the Executive Order that enabled Roosevelt to confiscate gold in 1933. Today the government still maintains that power through, Title 12, Chapter 2, Subchapter IV, Section 95a, which provides in part:
"During the time of war, the president may, through any agency that he may designate, and under such rules and regulations as he may prescribe, by means of instructions, licenses, or otherwise -- (A) investigate, regulate, or prohibit, any transactions in foreign exchange, transfers of credit or payments between, by, through, or to any banking institution, and the importing, exporting, hoarding, melting, or earmarking of gold or silver coin or bullion, currency or securities. ..."
Notice that coins or bills of NUMISMATIC value is not mentioned as was the case in 1933, in fact numismatic coins were excluded from confiscation in 1933. Many countries around the world have prohibited the holding of gold while allowing the ownership of numismatic coins. That is one reason that numismatic gold and silver coins have become such a popular form of ownership among U.S. citizens today.
To view the 1933 Executive Order, Click Here
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