The Coinage Act of 1792 was passed by Congress on April 2, 1792, establishing a mint for national coinage and the U.S. dollar as the nation's currency.

Therefore when the United States set up its Mint, in the Coinage Act of 1792, quoted above, it had to accept that its coin and currency had to compete, on price, with that unit.

The Coinage Act went further by legally fixing the gold-to-silver ratio at 15:1 (meaning 15 ounces of silver is equal to 1 ounce of gold) and then pegged the U.S. dollar (denominated in gold and ...

The Coinage Act of 1792 was also known as the Mint Act. ... Half dollar with 208 grains (13.5g) ... Definition, How It Works, Types, and Trading Risks.