apr 2, 1792 - Coinage Act of 1792

Description:

AKA: Mint Act

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. This act established the silver dollar as the unit of money in the United States, declared it to be lawful tender and created a decimal system for U.S. currency

The Act pegged the newly created United States dollar to the value of the widely used Spanish silver dollar, saying it was to have "the value of a Spanish milled dollar as the same is now current".

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