Skip to main content
  1. Home
  2. Federal Reserve Act and Related Statutes
  3. Money and Credit
  4. USE OF MONETARY GOLD STOCK OF THE UNITED STATES
  5. Withdrawal of Gold Coin from Circulation
1-419

Withdrawal of Gold Coin from Circulation

SECTION 5118 * * *
(b) The United States Government may not pay out any gold coin. A person lawfully holding United States coins and currency may present the coins and currency to the Secretary of the Treasury for exchange (dollar for dollar) for other United States coins and currency (other than gold and silver coins) that may be lawfully held. The Secretary shall make the exchange under regulations prescribed by the Secretary. * * *
[31 USC 5118(b). Previously 31 USC 315b (Gold Reserve Act of 1934 § 5 (48 Stat. 340)) and 773a. Restated and recodified by act of Sept. 13, 1982 (96 Stat. 985). As amended by act of Dec. 17, 1985 (99 Stat. 1178). ]
Back to top