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U.S. Mint Director, appointed and endorsed by the Coinage Act of 1792, was authorized to contract and purchase a quantity of a group 11 element being pure or unalloyed copper. The coinage metal was to be defined as a federal standard having a consistency in uniformity and weight. [7] [8] Copper purchase quantity not to exceed a weight of 150 ...
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The Coinage Act of 1792 (also known as the Mint Act; officially: An act establishing a mint, and regulating the Coins of the United States), passed by the United States Congress on April 2, 1792, created the United States dollar as the country's standard unit of money, established the United States Mint, and regulated the coinage of the United States. [1]
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 ...
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However, the Coinage Act of 1792 specified that the cent was to consist of 11 pennyweight (264 grains or 17.1 g) of pure copper. [7] Such a weight, needed to maintain intrinsic value, would have been too heavy for practical everyday use. [2]
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The Coinage Act of 1965 removed all silver from quarters and dimes, which were 90% silver prior to the act. However, there was a provision in the act allowing some coins to contain a 40% silver consistency, such as the Kennedy Half Dollar. Later, even this provision was removed, with the last circulating silver-content halves minted in 1969.