The Coinage Act of 1873 or Mint Act of 1873 was a general revision of laws relating to the Mint of the United States. By ending the right of holders of silver bullion to have it coined into standard silver dollars, while allowing holders of gold to continue to have their bullion made into money, the act created a gold standard by default. It also authorized a Trade dollar, with limited legal tender, intended for export, mainly to Asia, and abolished three small-denomination coins. The act led to controversial results and was denounced by critics as the "Crime of '73".
Under an 1853 act, depositors could no longer have their metal struck into half dollars.
John Jay Knox, photographed by Mathew Brady
Senator John Sherman shepherded the bill through Congress.
The standard silver dollar was abolished by the Coinage Act of 1873.
The United States Mint is a bureau of the Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce, as well as controlling the movement of bullion. The U.S. Mint is one of two U.S. agencies that produce money in the case of minting coinage; the other is the Bureau of Engraving and Printing, which prints paper currency. The first United States Mint was created in Philadelphia in 1792, and soon joined by other centers, whose coins were identified by their own mint marks. There are currently four active coin-producing mints: Philadelphia, Denver, San Francisco, and West Point.
The First U.S. Branch Mint in California, which opened on April 3, 1854, is located at 608–619 Commercial Street in San Francisco. The building now houses the San Francisco Historical Society.
First United States Mint (Philadelphia); photo from 1904
The Philadelphia Mint
The Denver Mint