from United CPM:
As the US government confiscated gold, some people were pleased their gold jewelry seemed exempt. Indeed, I wonder how many people changed their gold bullion into jewelry before the May 1, 1933 deadline?
Perhaps a few smart ones did just this.
When President Roosevelt called in all gold coin, gold bullion, and gold certificates, all persons were required to deliver their gold to a Federal Reserve Bank, branch or agency, or to any member bank of the Federal Reserve System.
They faced criminal penalties for violation of the executive order of $10,000 fine or 10 years imprisonment, or both, as provided in Section 9 of the order.
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