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JCH22
Posts: 256 ✭✭✭✭
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JCH22
Posts: 256 ✭✭✭✭
JCH22
Posts: 256 ✭✭✭✭
Comments
Thanks for posting. Collecting foreign coin types that circulated here is great fun and of significant historical interest. Many, but not all, were legal tender until 1857. It took us 64 years to produce a sufficient domestic supply. Most of my type is now foreign.
Interesting.
Would I be correct in assuming that the term "Eagles" refers to all Eagle-denominated gold, including Eagles, Half Eagles and Quarter Eagles?
This might be considered related. The Gold Standard Act of March 14, 1900, required that the stores of physical gold held by the Treasury as backing for Gold Certificates (and potentially other currency) be at least 2/3rds U.S.-issued coin gold and up to 1/3rd good quality foreign gold coins and certain good quality assayed ingots. During World War One, so much foreign gold came into this country as payment for war materials that the Act of June 12, 1916 reversed this ratio, allowing the foreign gold coins and good quality bars to reach up to 2/3rds of the fave value of the currency so backed. By 1919 that 2/3rds limit was in danger of being breached, and that is why the Mint resumed coining gold in 1920.
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