Silver Dollar Blog - Timeline of Events for the Silver Dollar

Feb 01, 2012

Timeline of Events for the Silver Dollar

1792 - Coinage Act of 1792 -Coinage Act or the Mint Act passed by the United States of Congress in 1792 was established to regulate the coinage of the United States. 

1794 - Silver dollars, the first dollar coin issue was minted in 1794 - Dollar coins have been minted in the United States as gold, silver and other base metal versions.

1873 - Crime of 1873 - Embraced the gold standard and demonetized silver. 

1878 - Bland-Allison Act - The United States Treasury was required to buy a certain amount of silver so it could be circulated as silver dollars

1890 - Sherman Act -  The act was named after is author John Sherman an Ohio Republican. In addition to the 2-4 million from the Bland-Allison Act the United States had to to purchase, now they had to purchase an additional 4.5 million ounces of silver bullion each month. The law required the treasury to by silver with treasury notes that could be redeemed for either silver or gold. 

1893 - Sherman Act repealed - The plan failed instead there was a fear of a resulting drain on the Treasury''s gold reserves helped case the financial panic of 1893. Therefor the Sherman Act was repealed.

1898 - War Revenue Bill - Coin remaining Silver Bullion purchased under Sherman Act

1918 - Pittman Act - Stated that no more than 350,000,000 standard silver dollars be converted into bullion and sold or used for subsidiary silver coinage, and directed purchase of domestic silver for re-coinage.



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