Coinage Act of 1849

The Coinage Act of 1849 was a U.S. law that established a standard for the minting of gold coins, reflecting a growing national interest in gold due to discoveries in places like California. It authorized the production of gold coins in specific denominations, including the $20 gold piece known as the double eagle. This act aimed to create a reliable currency and stabilize the economy, ensuring that gold would be used in trade, thereby facilitating commerce. It marked a significant expansion of the U.S. coinage system as gold became a prominent part of the nation's monetary policy.