Investopedia

Continue to Site »

The Coinage Act Of 1792

Filed Under » , ,
Dictionary Says

Definition of 'The Coinage Act Of 1792'

Regulation passed by Congress on April 2, 1792 that established the U.S. Mint. The law also established the U.S. coinage system and placed the mint at the seat of the U.S. government. The law created U.S. eagles, dollars, dismes and cents, and half-denominations of each unit; the value of each of these coins was dependent on the type (gold, silver, copper) and amount of material used to make them.

Investopedia Says

Investopedia explains 'The Coinage Act Of 1792'

The Coinage Act of 1792 was more commonly known as the Mint Act. This act also created five officers of the mint, including a director, an assayer, a chief coiner, an engraver and a treasurer (not to be confused with the Secretary of the Treasury, a wholly separate entity). This act laid the foundation for the modern U.S. currency and is still in effect today, albeit with many modifications over the past two-plus centuries.

Articles Of Interest

  1.

    The Evolution Of Banking

    Banks are a part of ancient history. Find out how this system of money management developed into what we know today.

  2. The Gold Standard Revisited

    Think the value of gold is unshakable? Read this chronicle of its rise and fall.

  3. 8 Gifts For Financial Geeks

    Put one of these unique offerings under someone's tree this year.

  4. Spot Hotshot Penny Stocks

    Don't flip a coin to find your next investment.

  5. Should You Add A Securities License To Your Qualifications?

    Clients love planners who sell securities, but a securities license takes a lot of work. Learn if the stress and study are worth it.

  6. How To Report A Tax Cheat

    If you report a tax evader to the IRS, you could be eligible for a reward.

  7. GAAP And The IFRS Standards Convergence Efforts In 3 Substantial Areas

    Understand the specific steps that have been taken in hopes of converging the GAAP and the IFRS accounting standards, despite the philosophically and culturally based methodological differences ...

  8. How Much Will Your Taxes Rise Based On Your Salary?

    Find out how high your taxes will rise this year.

  9. Department Of Justice Sues Standard & Poor's Over Mortgage Crisis - Is Moody's Next?

    The U.S. Department of Justice sued Standard & Poor's and is seeking more than $5 billion in damages.

  10. New Tax Laws To Watch Out For In 2013

    With a new year comes new laws, and in 2013 the U.S. government has implemented several changes to the tax code.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  2. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  3. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  4. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  5. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.

  6. Icarus Factor

    The term Icarus factor describes a situation where managers or executives initiate an overly ambitious project which then fails. Fueled by excitement for the project, the executives are unable to reign in their misguided enthusiasm before it is too late to avoid the failure.
Trading Center