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StefenTower (talk | contribs) cleanup articles linked from Franklin D. Roosevelt, typo(s) fixed: $1090 dollars → $1090 using AWB |
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[[File:Executive Order 6102.jpg|thumb|Executive Order 6102]]
Executive Order 6102 required all persons to deliver on or before May 1, 1933, all but a small amount of [[gold coin]], gold [[bullion]], and [[gold certificates]] owned by them to the [[Federal Reserve]], in exchange for $20.67 ([[consumer price index]], adjusted value of {{Formatnum:{{Inflation|US|20.67|1933}}}} today{{Inflation-fn|US}}; current price per ounce is $1090) per [[troy ounce]]. Under the [[Trading with the Enemy Act 1917|Trading With the Enemy Act of 1917]], as amended by the recently passed [[Emergency Banking Act]] of March 9, 1933, violation of the order was punishable by fine up to $10,000 (equivalent to ${{Formatnum:{{Inflation|US|10000|1933}}}} today{{Inflation-fn|US}}) or up to ten years in prison, or both.
Order 6102 specifically exempted "customary use in industry, profession or art"—a provision that covered artists, jewellers, dentists, and sign makers among others. The order further permitted any person to own up to $100 in gold coins (a face value equivalent to {{convert|5|ozt|g}} of gold valued at about $6,655 in 2014). The same paragraph also exempted "gold coins having recognized special value to collectors of rare and unusual coins." This protected recognized gold coin collections from legal seizure and likely melting.
The price of gold from the Treasury for international transactions was thereafter [[Gold Reserve Act|raised]] to $35 an ounce (
The regulations prescribed within Executive Order [[s:Executive Order 6102|6102]] were modified by Executive Order [[s:Executive Order 6111|6111]] of April 20, 1933, both of which were ultimately revoked and superseded by Executive Orders [[s:Executive Order 6260|6260]] and 6261 of August 28 and 29, 1933, respectively.<ref>{{cite book |last= Roosevelt |first= Franklin D. |year= 1938 |url= http://quod.lib.umich.edu/cgi/t/text/pageviewer-idx?c=ppotpus;cc=ppotpus;q1=August%2028%2C%201933;rgn=full%20text;idno=4925381.1933.001;didno=4925381.1933.001;view=image;seq=00000382 |title= Public Papers and Addresses of Franklin D. Roosevelt, Volume II, The Year of Crisis, 1933 |location= New York |publisher= Random House |page= 352 |oclc= 690922370}}</ref>
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