The Coinage Act of 1792 established the United States Mint and regulated the coinage of the United States. The Official Red Book, A Guide Book of United States Coins. Coins of this era are so fundamental to American numismatics that every collection should include at least a sampling.” Foreign money in America diring the colonial period had become so embedded that it continued to be accepted as legal tender until discontinued by law in 1857. People were content to use currency, both old and new, whose values was based more on the metal content than on the issuer’s reliability. Mint the country was much more accustomed to coins from other countries. When coins tumbled off the presses from the first U.S. “Money had a rich history in America prior to the advent of the United States’ national coinage in 1793.
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