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The Coinage Act of 1853, 10 Stat. 160, was a piece of legislation passed by the United States Congress which lowered the silver content of the silver half dime, dime, quarter dollar, and half dollar, and authorized a three dollar gold piece.
The Act specified the issuing of three gold coins comprising a $10 gold coin called an "eagle", a $5 coin called a "half eagle", and a $2.5 coin called a "quarter eagle". [5] The Act also authorized construction of a mint building in Philadelphia, the nation's capital at the time.
The Coinage Act of 1873 or Mint Act of 1873 was a general revision of laws relating to the Mint of the United States.By ending the right of holders of silver bullion to have it coined into standard silver dollars, while allowing holders of gold to continue to have their bullion made into money, the act created a gold standard by default.
Gold forms: Gold investments come in various forms like gold bullion, coins and exchange-traded funds. Each has its own market dynamics and legal considerations. Each has its own market dynamics ...
The Mint produced and shipped a total of 34.3 billion quarters during the program, with the average annual mintage reaching 3.5 billion quarters. At least 400 million of each quarter was minted.
It became illegal for UK residents to continue to hold more than four gold coins dated after 1817, or to buy any gold coins unless they obtain collector licence from Bank of England. The reasoning was to prevent people from hoarding the gold, while the cost of living and inflation increased. [ 40 ]
The earliest commemorative coin minted by the US Mint was the 1848 "CAL" quarter eagle, which commemorated the finding of gold in California. [3] These coins were standard quarter eagles that were modified by punching CAL. onto the reverse above the eagle.
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