Wednesday, March 20, 2013
JANUARY 30, 1934 – PASSAGE OF GOLD RESERVE ACT
1934 – PASSAGE OF GOLD RESERVE ACT
The US government ended minting and circulation gold coins. The bill required all holders of gold coins and certificates to surrender them to the US Treasury – at the price of $20.67 per ounce. Collectors and a few others were exempted. Federal Reserve Notes were no longer convertible (or backed) by gold coins.
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