1933: President Franklin D. Roosevelt signed Executive Order 6102, which required all citizens to turn in their gold coins, bars, and certificates to the Federal Reserve. The goal was to combat the economic crisis of the Great Depression and prevent gold from leaving the banking system.
1934: The Gold Reserve Act formalized the measure, prohibiting private ownership of monetary gold and transferring all gold from the Federal Reserve to the U.S. Treasury.
1974: President Gerald Ford signed a law that repealed the ban, and starting on December 31, 1974, American citizens were once again allowed to buy, sell, and own gold legally. 