The order was rationalized on the grounds that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse. If you resisted to turn in your gold in 1933 you had to store and keep it illegally for over 30 years until gold was made "legal" again to hold. The reality was that in order to increase the money supply... by law you had to have the gold to back every dollar created. Another words, money could not be printed from thin air at that time.... we did not make that "intellectual leap" at that time. If you were caught holding or selling gold..... a mandatory jail time was prescribed - 10,000 dollar fine and 5 to 10 year jail time. The enforcement of this law was very lax and no one was prosecuted, but nonetheless, the law was effective in putting a lid on gold for decades.

Gold Coin, bullion and gold certificates were the object of confiscation..... when you went to your safety deposit box at the bank, there was a federal agent waiting for you. He told you to open your box and then he removed all qualifying gold. In return, he gave you the cash equivilent at the time of $20.67 per ounce. Shortly after, they revalued gold to 35 dollars an ounce - effectively devaluing the U.S. Dollar by 75 percent. The order was not lifted until 1971 by Nixon.

I doubt the government could enact such legislation again and they know it. That is why they have chosen the low road of disinformation, manipulation and rigging to get ahold of your gold cheap. Meanwhile the "We buy gold" dishoards the public daily with stores on every corner. By inflating the currency and keeping wages stagnant for years.... the Fed is effectively squeezing the gold from the lower and middle class. Meanwhile, the rich are hoarding while everyone else is told to "run for your life" from the barbaric and obsolete safe haven.

If you are nevous about this happening again, I would recommend holding a portion of your buillion in collectables, silverware and jewelry. It is a way to get around a repeat of this action because they are very unlikely to confiscate these items.

I see the government using a campaign to get voluntary gold "redemption" by questioning your patriotism if you do not comply - but do not see a forced confiscation in the cards. They are too clever for this crude ploy and will make you sell your metal because economic hardship dictates it. With no job and bills piling up.... you will dishoard and they know it.