Early American Gold: The Journey from Coinage Act to Actual Coinage
Before the United States had struck the world-renowned Saint-Gaudens and Liberty Head Gold coinage, America relied on gold coins struck in other countries such as the Spanish eight escudos. The idea of using foreign coinage in our new country did not sit well with our Founding Fathers as they believed that no country can be independent without its own monetary system. As a result, our first President George Washington signed the Coinage Act of 1792.
