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Resolution by the Continental Congress concerning the value of gold, silver, and copper
United States. Continental Congress
August 08, 1786
Volume 18, Pages 713-714

AN ACT FOR FIXING THE STANDARD OF GOLD AND SILVER COIN.
[From Executive Letter Book.]

By the United States in Congress Assembled,
August 8th, 1786.

On a report of Board of Treasury, Resolved, That the Standard of the United States of America, for Gold and Silver, shall be eleven parts fine and one part alloy.

That the Money Unit of the United States being by the Resolve of Congress of the 6th July, 1785, a dollar, shall contain of fine silver three hundred and seventy-five grains and sixty-four hundredths of a grain. That the Money, of Account to Correspond with the division of Coins, agreeable to the above Resolve, shall proceed in a decimal Ratio agreeably to the forms and manner following, viz: Mills, the lowest money of accompt, of which one thousand shall be equal to the Federal dollar, or money Unit, 0,001. Cents, The highest Copper piece of which one hundred shall be equal to a dollar, 0,010. Dimes, the lowest Silver Coin, Ten of which shall be equal to a Dollar, 0,100. Dollar, The highest Silver Coin, 1,000. That betwixt the dollar and the lowest copper coin as fixed by the Resolve

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of Congress of the 16th July, 1785, there shall be three Silver Coins and one copper coin.

That the Silver coin shall be as follows: One coin containing one hundred and eighty-seven grains and eighty-two hundredths of a grain of fine silver, to be called a half a dollar; one coin containing seventy-five grains and one hundred and twenty-eight thousandths of a grain of fine silver to be called a double dime, and one coin containing thirty-seven grains and five hundred and sixty-four thousandths of a grain of fine silver, to be called a dime.

That the two copper Coins shall be as follows: One, equal to the one hundredth part of the Federal dollar, to be called a Cent; and one equal to the two hundredth part of a Federal dollar, to be called a half cent.

That two pounds and a quarter, Avoirdupois weight, of copper shall constitute one hundred cents.

That there shall be two Gold coins, one containing two hundred and forty-six grains, and two hundred and sixty-eight thousandths of a grain of fine Gold, equal to ten dollars, and to be stamped with the impression of the American Eagle, and to be called an Eagle; one containing one hundred and twenty-three grains and one hundred and thirty-four thousandths of a grain of fine Gold, and to be called a half Eagle.

That the Mint price of a pound, Troy weight, of uncoined Silver, eleven parts fine and one part alloy, shall be nine dollars, nine dimes and two cents (?).

That the Mint price of a pound, Troy weight, of uncoined Gold, eleven parts fine and one part alloy, shall be two hundred and nine dollars, seven dimes and seven cents.

CHAS THOMSON, Sec'ty.