U.S. Mint Act of 1792

The U.S. Mint Act of 1792 established the United States' official coinage system and created the U.S. Mint as a government agency responsible for producing standardized, reliable coins. It designated the dollar as the country's standard currency unit and set specific values for coins like cents, dimes, and quarters. The law aimed to replace inconsistent and often unreliable foreign or private coinage with a unified national currency, encouraging economic stability and trust. It marked the beginning of federal control over coin production, laying the foundation for the U.S. monetary system used today.