Coinage Act of 1857


Coinage Act of 1857

The Coinage Act of 1857 was an act of the United States Congress which forbade the use of foreign coins as legal tender, repealing all acts "authorizing the currency of foreign gold or silver coins". Specific coins would be exchanged at the Treasury and recoined. The act was approved on February 21, 1857.

Before this Act, foreign coins, such as the Spanish dollar, were widely used[1] and allowed as legal tender by the Act of 1806.[2]

Contents

See also

Notes

  1. ^ Murray N. Rothbard. "The Mystery of Banking" (pdf), p.10, referenced 2009-08-24.
  2. ^ Library of Congress. "An Act regulating the currency of foreign coins in the United States", passed on April 10, 1806, referenced 2009-08-24.

Further reading

  • Martin, David A. (1977), "The Changing Role of Foreign Money in the United States, 1782-1857", Journal of Economic History 37 (4): 1009–1027, JSTOR 2119352 .

External links



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