Appendix IV, Coinage Laws, I. April, 1792.—An Act establishing a Mint, and regulating the Coins of the United States.

Sec. 9. And be it further enacted, That there shall be from time to time struck and coined at the said Mint coins of gold, silver, and copper of the following denominations, values, and descriptions, viz.: EAGLES—each to be of the value of ten dollars or units, and to contain two hundred and forty-seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold.

[Half-eagles and quarter-eagles of corresponding weights and fineness.]

DOLLARS 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.

[Half-dollars, quarter-dollars, dimes, and half-dimes of corresponding weights and fineness.]

Sec. 11. And be it further enacted, That the proportional value of gold to silver in all coins which shall by law be current as money within the United States shall be as fifteen to one, according to quantity in weight, of pure gold or pure silver; that is to say, every fifteen pounds weight of pure silver shall be of equal value in all payments with one pound weight of pure gold, and so in proportion as to any greater or less quantities of the respective metals.

Sec. 14. And be it further enacted, That it shall be lawful for any person or persons to bring to the said Mint gold and silver bullion, in order to their being coined; and that the bullion so brought shall be there assayed and coined as speedily as may be after the receipt thereof, and that free of expense to the person or persons by whom the same shall have been brought. And as soon as the said bullion shall have been coined, the person or persons by whom the same shall have been delivered, shall, upon demand, receive in lieu thereof coins of the same species of bullion which shall have been so delivered, weight for weight, of the pure gold or pure silver therein contained: Provided nevertheless, That it shall be at the mutual option of the party or parties bringing such bullion, and of the director of the said Mint, to make an immediate exchange of coins for standard bullion, with a deduction of one-half per cent from the weight of pure gold, or pure silver contained in the said bullion, as an indemnification to the Mint for the time which will necessarily be required for coining the said bullion, and for the advance which shall have been so made in coins.

Sec. 16. And be it further enacted, That all the gold and silver coins which shall have been struck at and issued from the said Mint shall be a lawful tender in all payments whatsoever, those of full weight according to the respective values herein before declared, and those of less than full weight at values proportional to their respective weights.