Coinage Act of 1834
E1896
The Coinage Act of 1834 was a U.S. law that significantly altered the gold-to-silver ratio and the gold content of coins, helping to stabilize the currency and encourage the circulation of gold.
Statements (47)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
→
monetary law → |
| amended |
Coinage Act of 1792
→
|
| appliesTo |
United States dollar
→
|
| associatedWithPolicy |
hard money policy
→
|
| changedGoldContentOf |
Eagle (10-dollar gold coin)
→
Half Eagle (5-dollar gold coin) → Quarter Eagle (2.50-dollar gold coin) → |
| changedGoldSilverRatioFrom |
15:1
→
|
| changedGoldSilverRatioTo |
approximately 16:1
→
|
| country |
United States
→
|
| dateEnacted |
1834-06-28
→
|
| effect |
altered relative market values of gold and silver in U.S. law
→
changed legal gold-to-silver ratio in the United States → discouraged export and melting of U.S. gold coins → encouraged circulation of gold coins → reduced gold content of U.S. gold coins → |
| field |
economic history of the United States
→
numismatics → |
| followedBy |
Coinage Act of 1849
→
Coinage Act of 1853 → |
| hasEffectOn |
relative circulation of gold and silver coins in the United States
→
|
| historicalPeriod |
Jacksonian era
→
|
| implementedBy |
United States Mint
→
|
| jurisdiction |
United States federal government
→
|
| languageOfWork |
English
→
|
| legalStatus |
public law of the United States
→
|
| legislativeBody |
United States Congress
→
|
| locationOfImplementation |
United States Mint facilities
→
|
| monetarySystem |
bimetallic standard
→
|
| officeholderSigning |
President of the United States
→
|
| precededBy |
Coinage Act of 1792
→
|
| previousGoldPurity |
0.9167 fine
→
|
| purpose |
bring U.S. statutory gold-silver ratio closer to world market ratio
→
promote use of gold as circulating medium → stabilize U.S. currency → |
| reducedGoldPurityTo |
0.8992 fine
→
|
| regulates |
specie coinage in the United States
→
|
| revised |
Coinage Act of 1792
→
|
| signedBy |
Andrew Jackson
→
|
| subject |
U.S. coinage
→
bimetallism → gold standard → monetary policy of the United States → silver standard → |
| typeOfStatute |
coinage act
→
|
| yearEnacted |
1834
→
|
Referenced by (1)
| Subject (surface form when different) | Predicate |
|---|---|
|
Coinage Act of 1792
→
|
replacedBy |