---
kind: "section"
citation: "12 U.S.C. § 354"
title: "12"
title_heading: "Banks and Banking"
number: "354"
heading: "Transactions involving gold coin, bullion, and certificates"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/12/354"
units:
  - "Chapter 3 — Federal Reserve System"
  - "Subchapter IX — Powers and Duties of Federal Reserve Banks"
---

# §354. Transactions involving gold coin, bullion, and certificates


Every Federal [reserve bank](/usc/12/221a.md?p=a) shall have power to deal in gold coin and bullion at home or abroad, to make loans thereon, exchange Federal reserve notes for gold, gold coin, or gold certificates, and to contract for loans of gold coin or bullion, giving therefor, when necessary, acceptable security, including the hypothecation of United States bonds or other securities which Federal [reserve banks](/usc/12/221a.md?p=a) are authorized to hold.


## Source credit

(Dec. 23, 1913, ch. 6, § 14(a), 38 Stat. 264.)

## Notes

### Editorial Notes

### Codification

Section is comprised of subsec. (a) of section 14 of act Dec. 23, 1913. For classification to this title of remainder of section 14, see Codification note set out under section 353 of this title.