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The Coinage Act of 1857 (Act of Feb. 21, 1857, Chap. 56, 34th Cong., Sess. III, 11 Stat. 163) was an act of the United States Congress which ended the status of foreign coins as legal tender, repealing all acts "authorizing the currency of foreign gold or silver coins". Specific coins would be exchanged at the Treasury and re-coined.
As of 2005, banknotes were legal tender for all payments, and $1 and $2 coins were legal tender for payments up to $100, and 10c, 20c, and 50c silver coins were legal tender for payments up to $5. These older-style silver coins were legal tender until October 2006, after which only the new 10c, 20c and 50c coins, introduced in August 2006 ...
Foreign coins, including the Spanish dollar, were also widely used [9] as legal tender, until 1857. With the enactment of the National Banking Act of 1863—during the American Civil War —and its later versions that taxed states' bonds and currency out of existence, the dollar became the sole currency of the United States and remains so today.
For the purposes of this list, only currencies that are legal tender, including those used in actual commerce or issued for commemorative purposes, are considered "circulating currencies". This includes fractional units that have no physical form but are recognized by the issuing state, such as the United States mill, [ A ] the Egyptian ...
In October 2015, the Court of Justice of the European Union ruled that "The exchange of traditional currencies for units of the 'bitcoin' virtual currency is exempt from VAT" and that "Member States must exempt, inter alia, transactions relating to 'currency, bank notes and coins used as legal tender '", making bitcoin a currency as opposed to ...
The United States trade dollar was a dollar coin minted by the United States Mint to compete with other large silver trade coins that were already popular in East Asia. The idea first came about in the 1860s, when the price of silver began to decline due to increased mining in the western United States. A bill providing in part for the issuance ...
For example, Panama and El Salvador have declared US currency to be legal tender, and from 1791 to 1857, Spanish dollars were legal tender in the United States. At various times countries have either re-stamped foreign coins or used currency boards, issuing one note of currency for each note of a foreign government held, as Ecuador currently does.
The 5-franc coin of 90% silver was unlimited legal tender together with gold, while 2-, 1,- and 1 ⁄ 2-franc coins of 83.5% silver were made subsidiary or limited legal tender. The billon coins (5% to 15% silver) were also subsidiary; they were replaced by Cupronickel and Nickel in 1879. In 1918/19, there was experimentation with brass (Cu ...
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