way Back When

[jeff of pa]

Mount Carmel Item​

Mount Carmel, Pennsylvania
17 Jan 1934, Wed

 

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[Peyton Manning]

Why did the gov do that?
And why exclude$2.50 coins?

 

[jeff of pa]

I can only guess it was because of the fluctuation of gold in price
And Possibly at the time $2.50 gold Pieces were worth Less then $2.50
and they didn't want to Give money away

 

[jeff of pa]

according to google The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and worsening the depression as the US was then using the gold standard for its currency.

no luck finding actual reason for the $2.50 s

 

[Peyton Manning]

Well, that must be why I can’t find a gold coin

 

[Johnnybravo300]

They needed to revalue the gold higher and wanted it all back before they did that.
Outlawing private possession of gold was one of the most unconstitutional crimes ever committed by our government and they should have been hanged for it.

 

[flinthunter]

When I was a kid my grandfather had two gold coins that he didn't turn in and I was instructed to never tell anyone about them. He was terrified that if the wrong people found out, he would be in huge trouble. The two coins were a California fractional 25 cent piece and a 50 cent piece.

 

[fistfulladirt]

When I was a kid my grandfather had two gold coins that he didn't turn in and I was instructed to never tell anyone about them. He was terrified that if the wrong people found out, he would be in huge trouble. The two coins were a California fractional 25 cent piece and a 50 cent piece.

He had no reason for fear. Executive Order 6102 allowed a citizen to legally retain $100 face value in gold coin. That’s up to 5 double eagles.