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Coin

A Dictionary of Law · William C. Anderson · 1889

A Dictionary of Law

A piece of metal stamped and made legally current as money.* "Coin " and ' ' coinage " apply to the stamping of metal in some way so as to give them currency.^ " The Congress shall have Power.. To coin Sloney, regulate the Value thereof, and of foreign 1 Jones V. Commonwealth, 80 Va. 20 (1885), Fauntleroy, J. 2 See 1 Bishop, Mar. & D. § 777, note, cases; 116 U. S. 75; 4 Paige, 425. As a married right, 19 Cent. Law J. Ui (1884), cases. = Yardley'8 Estate.

75 Pa. 211 (1874), Agnew, C. J. See also Brinckle v. Brinckle.

W Leg. Int. 428 (187T); Hynes v. Mc Dermott, 91 N. Y. 4-iO-08 (1883i, cases; Teter v Teter, 88 Ind. 493 (1883), cases; Appeal of Beading Fire Ins. & Trust Co., 113 Fa. SOB (1886), cases; 1 Whart Ev. ^? 84-85, cases..United States v. Bogart, 9 Bened. 315(1878), Wal- Phila. 403; 16 Gray, 240. Coin." 1 " No State shall. coin Money " or " make any Thing but gold and silver Coin a Tender in Payment of Debts." ^ gee Tender, 2 (2), Legal Tender Acts. The gold coins of the United States shall be a one-dollar piece, which, at the standard weight of twenty-flve and eight-tenth grains, shall be the unit of value; a quarter-eagle, or two and a half dollar piece; a three-dollar piece; a halt-eagle, or flve-do Uar piece; an eagle, or ten-dollar piece; and a double eagle, or twentj--dollar piece. The silver coins shall be [a trade-dollar,] ' a halfdollar or fifty-cent piece, a quarter-dollar or twentyflve-cent piece, a dime or ten-cent piece. The weight of [the trade-dollar shall be tour hundred and twenty grains troy; the weight of] the half-dollar, twelve grams and one-half of a gram; the quarter-dollar and the dime, respectively, one-half and one-fifth of the weight of said half-dollar. ' The standard of both gold and silver coins shall be such that of one thousand parts by weight nine hundred shall be pure metal and one hundred of alloy. The alloy of the silver coins shall be of copper. The alloy of the gold coins shall be of copper, or of copper and silver; but the silver shall in no case exceed one-tenth of the whole alloy. The minor coins shaH be a five-cent piece, a threecent piece, and a one-cent piece; and their weight, respectively, seventy-seven and slxteen-hundredths grains troy, thirty grains, and forty-eight grains. The alloy of the five and three cent pieces shall be of copper and nickel, three-fourths to one-fourth; the alloy of the one-cent piece, ninety-five per centum of copper and five per centum of tin and zinc. Any gold coins in the treasury, when reduced in weight by natural abrasion more than one-half of one per centum below the standard weight, shall be recoined.* There shall be coined silver dollars of the weight of four hundred and twelve and a half grains troy of standard silver, as provided in the act of January 18, 1837 (5 St. L. 137).= Foreign coins. The value of foreign coins as expressed in the money of account of the United States shall, be that of the pure metal of such coin of standard value; and the values of the standard coins in circulation of the various nations of the world shall be estimated annually by the director of the mint, and be proclaimed on the first day of January by the secretary of the treasury.' The valuation thus made is conclusive upon customhouse officers and importers.' All foreign gold and silver coins received in pay- • 1 Constitution, Art. I, § 8, ol. 6. '■" Ibid. § 10, cl. 1. See generally Bronson v. Eods, 7 Wall. 247-^ (1808), Chase, C. J. ' Act 3 March, 1887 (24 St. L. 684), provides for the exchange and retirement of the trade-do Uar. * B. S. §§ 3511-15. » 1 Sup. E. S. p. 306: Act 28 Feb., 1878. » Act 3 March, 1873: E. S. § 3564. ' Arthur, Collector v. Kichards, 23 Wall. 246 (1874); ment for moneys due to the United States shall, before being issued in circulation, be coined anew.' See Attachment, Execution; Cubebnt, 2; Monky.