FDR Takes United States off Gold Standard - June 5, 1933
American currency had been backed by gold since 1879, but now, because of the Depression, the public was frightened into hoarding gold. On April 5, 1933, Roosevelt ordered all gold coins and gold certificates worth more than $100 to be exchanged for another type of currency. In 1971, President Nixon announced that the United States would no longer convert dollars to gold at a fixed value. By doing this, he completely abandoned the gold standard. President Gerald Ford signed legislation that allowed Americans to own gold bullion again.
Source: History.com-FDR takes US off Gold Standard
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