Today in History

April 2 , 1792

Coinage Act of 1792

An act establishing a mint, and regulating the Coins of the United States. That was the long title of a law passed by the United States Congress on April 2, 1792. The Coinage act established the United States Mint and regulated the minting of legal coinage of the United States. The Coinage Act established the dollar as the official unit of currency in the United States, declared the dollar and minted coins to be lawful tender, and established a decimal system for U.S. currency. The act authorized the construction of a mint in the nation's capital, which at the time was Philadelphia. The Act was signed into law by President George Washington.

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