The Lasting Impact of the Coinage Act of 1857
164 years ago, on February 21, the United States Congress passed the Coinage Act of 1857, bringing an end to the circulation of foreign currencies in America. Prior to the passage of this act, foreign coins had been accepted as legal tender in the U.S. since the country’s inception. Among the most popular foreign currencies to circulate in the United States were Spanish milled dollars.
