FDR Stole American’s Gold in 1933, Outsmart a Future Gold Confiscation (Part One): What Coins to Buy and How to Store Them

On April 5, 1933, President Franklin D. Roosevelt(FDR) signed Executive Order 6102, forcing ordinary Americans to surrender their gold coins, bullion, and certificates to Federal Reserve banks for $20.67 per ounce. The government soon revalued gold to $35 per ounce, effectively confiscating 40% of their wealth overnight.

Under a fiat monetary system, it’s unlikely the US government would want to confiscate gold. However, if central banks chose to revalue their currencies based on gold, that might change. The same reasoning for FDR original confiscation might be used by the US government to justify another confiscation. Even though the legal framework makes gold confiscation difficult, suspicion still lingers.

But not all gold was treated equally… 

While the government seized most privately held gold, there was a critical exemption for “gold coins having recognized special value to collectors of rare and unusual coins.” Collectible coins were spared, treated as objects of art rather than monetary instruments.

So, when it comes to government overreach, here’s what you want to pay attention to: 

Authorities rarely ban everything outright. They create exemptions and gray areas.

Understanding this is key to outsmarting a future confiscation. This is part 1 of a three-part guide to outsmarting your gold from confiscation.

Why Diversification Matters

Governments operate through bureaucracy, targeting the most obvious, traceable, and easily regulated forms first.

• Different forms of gold carry vastly different levels of vulnerability. 
• Bullion in bank safety deposit boxes creates paper trails. 
• Sovereign coins purchased through dealers generate records.

However, private rounds acquired through cash transactions are much harder to track. Pre-1933 coins with numismatic value? They may fall outside “bullion seizure” orders entirely.

The Core Principle: spread holdings across different categories so you’re not boxed in by any single regulation. When authorities write new rules, they typically focus on one category at a time. Diversification ensures that even if one avenue closes, others remain open.

What are these Special Coins?

The 1933 exemption for collectible coins reflected the government’s recognition that these items had value beyond their gold content. Today, pre-1933 U.S. gold coins, limited mintage pieces, and coins with established numismatic premiums occupy a different legal category than modern bullion.

Saint-Gaudens double eagles, Indian Head eagles, and Liberty Head coins aren’t just gold—they’re historical artifacts with collector markets independent of spot prices. During the 41-year gold ownership ban (1933-1974), these coins continued trading legally among collectors.

Here’s a list of what those include today:

• Collectible Gold Coins – the clearest plain-English substitute.
• Rare Gold Coins – emphasizes scarcity and exemption history.
• Pre-1933 Gold – a common shorthand in the bullion world, since those coins were exempt from Roosevelt’s confiscation order.
• Historic Gold Coins – highlights their age and non-bullion status.
• Premium Gold Coins – sometimes used by dealers (though can sound salesy).

All these collectible coins may fall outside future “bullion seizure” orders. However, premiums can be substantial—sometimes 20-50% above gold content. This market requires knowledge to avoid overpriced pieces masquerading as “collectibles.” You need genuine rarity or historical significance. However, reputable gold and silver brokers such as Miles Franklin Precious Metals occasionally provide sales on these special varieties. Saving a portion of annual precious metal purchases for these coins can become profitable as you plan to protect your personal wealth.

What and How to Buy these Coins

Don’t concentrate all holdings in one form. Sovereign coins like American Eagles, Canadian Maple Leafs, and South African Krugerrands represent the gold standard of recognizability. They’re government-backed, widely accepted globally, and easily authenticated. However, this official status makes them more traceable and potentially vulnerable to government action.

Private rounds and bars from reputable mints offer a different profile. They typically carry lower premiums and create fewer paper trails, especially when purchased with cash. The trade-off is reduced liquidity—while a Gold Eagle is instantly recognizable worldwide, a private round may require verification. However, if you’re planning on hedging against inflation by keeping your gold and silver coins for decades, reduced liquidity will not be a downside for you. In the end, the collectible factor will actually enhance the value of your gold rather than take away from it. 

So do this…

Balance recognizability with privacy. 

Maintain some sovereign coins for liquidity and international acceptance, while holding private rounds for discretion and cost efficiency.

How to Store Your Gold So it’s Always Yours

The most critical distinction in gold storage is between “allocated” and “unallocated” holdings. This difference could determine whether you actually own gold or merely hold an IOU during a crisis.

Allocated storage means you own specific bars or coins with documented serial numbers. Your gold sits segregated with your name on it. You’re the legal owner of physical metal, not a creditor.

Unallocated storage is fundamentally different. You own a claim against the storage company’s general inventory, but no specific bars belong to you. During normal times, this works fine and costs less. But during a crisis—precisely when you need your gold most—unallocated holders become unsecured creditors standing in line with everyone else.

Best practice requires allocated storage with reputable vaults that provide regular bar lists showing serial numbers registered in your name.

What the 1933 Gold Confiscation Teaches Us

The 1933 gold confiscation proved that governments will change the rules of the game when it suits their survival—and ordinary citizens bear the cost. By understanding how exemptions worked in the past, diversifying the forms of gold you hold, and securing true ownership through allocated storage, you put yourself in a position to withstand future attempts at financial repression. 

The lesson of 1933 isn’t fear—it’s foresight. 

Those who prepare ahead of time will be the ones who keep control of their wealth when the rules shift again.