The purpose of E.O. 1602 was to prevent windfall profits from accruing when the dollar-gold ratio was reset from $20/oz to $35/oz.
The dollar-gold reset occurred immediately after 1602 went into effect.
The point being that POTUS FDR had folks turn in their gold. It is not too hard of a stretch to foresee a time, e.g., a Biden-Harris presidency crashing the economy, where the Feds again try to confiscate privately-held gold.