Message:

<p>[QUOTE=&quot;Burton Strauss III, post: 4750022, member: 59677&quot;]The $3 gold was authorized by the coinage act of 1853 with specifications that partly related to the 1849 act (which authorized the double eagle and gold dollar):</p><p><br /></p><p><a href="https://www.loc.gov/law/help/statutes-at-large/32nd-congress/session-2/c32s2ch79.pdf" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.loc.gov/law/help/statutes-at-large/32nd-congress/session-2/c32s2ch79.pdf" rel="nofollow">https://www.loc.gov/law/help/statutes-at-large/32nd-congress/session-2/c32s2ch79.pdf</a> </p><p><br /></p><p>The 1853 act also reduced the silver content of the half dollar and smaller coins and led to the arrows coins.</p><p><br /></p><p>If you read it, it really doesn&#039;t specify much about the coin:</p><p><br /></p><p>[ATTACH=full]1160057[/ATTACH]</p><p><br /></p><p>You are left to infer that the weight should be 3/20ths of the Double Eagle or 3x the gold dollar. But the 1849 act doesn&#039;t specify THOSE weights, just</p><p><br /></p><p>[ATTACH=full]1160058[/ATTACH]</p><p><br /></p><p>And THAT takes us back to 1834, when the silver:gold ratio was adjusted which arguably caused the whole problem:</p><p><br /></p><p><a href="https://www.loc.gov/law/help/statutes-at-large/24th-congress/Session%202/c24s2ch3.pdf" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.loc.gov/law/help/statutes-at-large/24th-congress/Session%202/c24s2ch3.pdf" rel="nofollow">https://www.loc.gov/law/help/statutes-at-large/24th-congress/Session 2/c24s2ch3.pdf</a></p><p><br /></p><p>[ATTACH=full]1160059[/ATTACH]</p><p>[ATTACH=full]1160060[/ATTACH]</p><p><br /></p><p>You have to love that Congress both gave simple specifications AND assumed that whatever the law said it said unless it was overridden...</p><p><br /></p><p>vs. today&#039;s</p><p><br /></p><p>[ATTACH=full]1160062[/ATTACH]</p><p><br /></p><p><a href="https://www.congress.gov/105/plaws/publ124/PLAW-105publ124.pdf" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://www.congress.gov/105/plaws/publ124/PLAW-105publ124.pdf" rel="nofollow">https://www.congress.gov/105/plaws/publ124/PLAW-105publ124.pdf</a>[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in