<P> Congress passed the Gold Reserve Act on 30 January 1934 ; the measure nationalized all gold by ordering Federal Reserve banks to turn over their supply to the U.S. Treasury . In return the banks received gold certificates to be used as reserves against deposits and Federal Reserve notes . The act also authorized the president to devalue the gold dollar . Under this authority the president , on 31 January 1934 , changed the value of the dollar from $20.67 to the troy ounce to $35 to the troy ounce , a devaluation of over 40 % . </P>
when did the us dollar leave the gold standard
1934