Coinage Act of 1849 (Redirected from Gold Coinage Act)
Long title | An Act to authorize the Coinage of Gold Dollars and Double Eagles |
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Nicknames | Gold Coinage Act |
Enacted by | the 30th United States Congress |
Citations | |
Public law | 30-108 |
Statutes at Large | 9 Stat. 397, Chap. CIX |
Legislative history | |
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The Coinage Act of 1849, 9 Stat. 397, was an act of the United States Congress which allowed for the minting of two new denominations of gold coins: the gold dollar and the double eagle ($20). It further defined the variances which were permissible in United States gold coinage. The act contains four sections.
This was enacted largely due to the California Gold Rush.[citation needed]
Background
Legislation
House Bill No. 746 was introduced by James Iver McKay on January 25, 1849. On February 20, 1849, the bill was reported by the United States House Committee on Ways and Means and taken up by the House for debate. The bill passed the House the same day and moved to consideration in the Senate. On March 3, 1849, the bill was reported by the United States Senate Committee on Finance and taken up by the Senate for debate. The bill passed the Senate the same day with amendments and was sent back to the House for consideration. The House agreed to the amendments and the bill was signed into law by President James K. Polk.