He money of account of the United States shall be expressed in dollars, or units…and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation. Section 20 of the Act designates the United States dollar as the unit of currency of the United States: : 250–1 Congress passed the Coinage Act, of which Section 9 authorized the production of various coins, including: : 248ĭollars or Units-each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver. "Dollar" is one of the first words of Section 9, in which the term refers to the Spanish milled dollar, or the coin worth eight Spanish reales. dollar may be described as the unit of account of the United States. The sums of money reported in the "Statements" are currently expressed in U.S.
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These other coins are more fully described in Coins of the United States dollar.Īrticle I, Section 9 of the Constitution provides that "a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time," which is further specified by Section 331 of Title 31 of the U.S. Section 5112 also provides for the minting and issuance of other coins, which have values ranging from one cent ( U.S. The Sacagawea dollar is one example of the copper alloy dollar, in contrast to the American Silver Eagle which is pure silver. These coins are both designated in the section as " legal tender" in payment of debts. Code, under Section 5112, which prescribes the forms in which the United States dollars should be issued.
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Constitution provides that Congress has the power "o coin money." Laws implementing this power are currently codified in Title 31 of the U.S. Overview In the Constitution Īrticle I, Section 8 of the U.S.