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In this case, both silver and gold were accepted as legal tenders of the United States, with a silver to gold exchange ratio of 15 to 1. The ratio was later changed to 16 to 1. Coin states that the Founding Fathers chose silver as the principal money because it was very commonly used among the working class as well as business owners. Gold was ...
500-Unit Nova Constellatio coin encased in a PCGS coin slab. The Nova Constellatio coins are the first coins struck under the authority of The United States of America. [1] These pattern coins were struck in early 1783, and are known in three silver denominations (1,000-Units, 500-Units, 100-Units), and one copper denomination (5-Units). All ...
The Coinage Act of 1792 established the United States Mint and regulated the coinage of the United States. [3] The act created coins in the denominations of Half Cent (1/200 of a dollar), Cent (1/100 of a dollar, or a cent), Half Dime (also known as a half disme) (five cents), Dime (also known as a disme) (10 cents), Quarter (25 cents), Half Dollar (50 cents), Dollar, Quarter Eagle ($2.50 ...
The reverse was designed by Donna Weaver and depicts the 1776 Continental Currency dollar coin, which was originally designed by Franklin. [3] The coins are 90% silver and weigh 26.73 g with a diameter of 38.1 mm (thus containing 0.7735 Troy ounces of pure silver). Proof and uncirculated versions were produced at the Philadelphia Mint.
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It was responsible for only 20% of the currency supply; state banks accounted for the rest. Several founding fathers bitterly opposed the bank. Thomas Jefferson saw it as an engine for speculation, financial manipulation, and corruption. [3] In 1811 its twenty-year charter expired and was not renewed by Congress.
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