On April 5, 1933, President Franklin D. Roosevelt issued Executive Order 6102, requiring Americans to turn in most gold coins, bullion, and gold certificates to the Federal Reserve. The order aimed to combat the banking crisis and deflation during the Great Depression. By bringing gold under government control, the administration sought more flexibility to expand the money supply. Citizens received paper currency in exchange for their gold. The policy marked a major shift in the U.S. relationship to the gold standard. It remains a notable example of the federal government’s intervention in monetary policy during a crisis.
