Legislation to Regulate Legal-Tender Value of Foreign Coins

Act of March 3, 1823

Historic Legislation, March 3, 1823. Full text is duplicated in the body of this page.Regulating the legal-tender value of foreign coins.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That from and after the passage of this act, the following gold coins shall be received in all payments on account of public lands, at the several and respective rates following, and not otherwise, viz: the gold coins of Great Britain and Portugal, of their present standard, at the rate of one hundred cent for every twenty-seven grains, or eighty-eight cents and eight-ninths per pennyweight; the gold coins of France, of their present standard, at the rate of one hundred cents for every twenty-seven and a half grains, or eighty-seven and a quarter cents per pennyweight: and the gold coins of Spain of their present standard, at the rate of one hundred cents for every twenty-eight and a half grains, or eighty-four cents per pennyweight.

SEC. 2. Provides for the annual assay of the foregoing coins and report to Congress.

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