Did Franklin Roosevelt confiscate silver as well as gold?

Discussion in 'Bullion Investing' started by Gam3rBlake, Jul 10, 2021.

  1. Gam3rBlake

    Gam3rBlake Well-Known Member

    In 1933 Franklin Roosevelt issued Executive Order 6102 which forced Americans to hand over their gold to the government in an attempt to prevent hoarding and stimulate the economy during the Great Depression.

    But did this apply to silver as well?

    Has the government ever confiscated silver?
     
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  3. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    Let me Google it..

    This is the answer I found

    Executive Order 6814 Required Turning in of Silver Bullion to the U.S. Government.
    Silver U.S. and Foreign Coins Were Exempt From the Order.
    Nearly 123 million ounces of silver were turned into the U.S. Mint from 1934-1938
    The U.S. Needed Silver To Mint Coins

    Executive Order 6814 is not a fictional future act of government, like the passing of the 211th, 212th and 213th Amendments to the Constitution, but an actual Presidential Order by Franklin Delano Roosevelt in 1934 confiscating silver in the United States.

    The order dated August 9, 1934, was entitled Executive Order 6814 Requiring the Delivery of All Silver to the United States for Coinage and required all persons to deliver silver to the U.S government pursuant to the Silver Purchase Act of 1934, subject to certain exemptions.
     
    Last edited: Jul 10, 2021
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  4. Robert Ransom

    Robert Ransom Well-Known Member

    Imagine that. You Googled it. Who would have thought to do that? ;)
     
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  5. Gam3rBlake

    Gam3rBlake Well-Known Member

    You realize that same thing could be said to every question asked on this forum and there would be no point in having a forum?

    I ask here because usually people know more about things than a simple Google search and, quite frankly; most Google searches aren’t even accurate or correct in the first place.

    Google relies on matching words in the question to websites with those words and doesn’t do anything to check the veracity of the information on the websites it matches.

    But hey if you think this forum should be shut down and all questions referred to Google that’s your own opinion. Just don’t expect everyone else to agree. ;)
     
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  6. Robert Ransom

    Robert Ransom Well-Known Member

    No, I do not realize "the same thing could be said..." Many of the questions asked concern opinions of the members. Other posts are comments concerning an issue.

    I cannot attest to your generalities about the accuracy of Google searches, however, the search generated in this thread is accurate TTBOMK.

    Google points a direction, but is not required to provide a map.

    When and where did I say or intimate the forum should be shut down? The conclusion you arrived at is incorrect. Your last sentence is nothing more than hyperbole.[/QUOTE]
     
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  7. Robert Ransom

    Robert Ransom Well-Known Member

    [/QUOTE]
     
  8. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    Blake.. Take it easy. When I don't know the answer I Google it. I honestly just wanted to find the answer since I wanted to know myself. I'm sure someone here on CoinTalk will be knowledgeable in the subject and will give a great answer ;)

    Peace :angelic:
     
  9. yakpoo

    yakpoo Member

    Perhaps that's why many people my parents age bought sterling flatware.
     
  10. yakpoo

    yakpoo Member

    Good community question! I had thought only gold was confiscated.
     
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  11. CaptHenway

    CaptHenway Survivor

    I was not aware of this.

    My uneducated guess is that in the wake of the gold surrender act silver became the new option for hoarding precious metal, so some big players did. The U.S. wanted to increase the money supply, even down to the level of coinage (look at mintage figures before and after 1934), so it ordered the big hoarders to sell their hoards to the Treasury (at a very fair price I might add.)
     
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  12. CaptHenway

    CaptHenway Survivor

    By the way, neither gold nor silver was "confiscated." Everything was paid for, the gold at the old face value rate, and the silver at a decent rate. I believe that it had fallen to approximately 23 cents an ounce at one point, and the forced buy-in was at (I believe if I am reading it correctly) 50 cents an ounce.
     
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  13. Spark1951

    Spark1951 Accomplishment, not Activity

    @Gam3rBlake …I agree you get more accurate info here on Coin Talk, I believe the info supplied by @paddyman98 is accurate and answered your question.

    No one should be gullible enough to believe information is true just because it was found on the internet. This holds true for newspapers and mainstream media.

    You have to choose who to believe and do your own research to confirm.

    It’s nice to know, at least, here on Coin Talk, that incorrect info is called out by member experts by consensus and you have the best chance at correct info…
    …imo…Spark
     
  14. Mac McDonald

    Mac McDonald Well-Known Member

    But hey...FDR also ended Prohibition in 1933, so not a bad trade-off for many I'd say...! :woot:
     
    Last edited by a moderator: Jul 10, 2021
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  15. Mountain Man

    Mountain Man Supporter! Supporter

    Google has become the Kleenex of our time, but I personally use DuckDuckGo for my searches, especially because what is becoming known about other search engines gathering personal information. Just saying.
     
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  16. Chris Winkler

    Chris Winkler Well-Known Member

     
    Last edited by a moderator: Jul 10, 2021
  17. Mr.Q

    Mr.Q Well-Known Member

    And the outcome is, no longer are our notes "Silver Certificate." Rather "Federal Reserve Note."
     
  18. Dynoking

    Dynoking Well-Known Member

    Many times when a question about coins is googled CT forums are in the search results.
     
  19. Gam3rBlake

    Gam3rBlake Well-Known Member

    I am calm it just seems like you’re being sarcastic and insulting me by telling me my questions aren’t worthy of being asked here and that I should go use Google instead.
     
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  20. Gam3rBlake

    Gam3rBlake Well-Known Member

    Yeah he did answer my question I just wish he hadn’t been snarky about it and made that whole sarcastic Google comment.

    It’s like he was saying my questions aren’t worthy of being asked here.
     
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  21. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    Nope never. If the way I responded bothered you then I won't do it again. But it does seem like it was helpful to some and not to a few. It is all about perception I guess.

    I like your questions. Ask away anything you want. We are here to learn from each other.
     
    Last edited: Jul 10, 2021
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