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<p>[QUOTE="Ag76, post: 3375850, member: 100584"]I knew some of that history, but thanks for the further explanation. It's a bit surprising that Latin American states would be so eager to sign onto a European standard, but then, the move from bimetallism to gold convertibility was also a European innovation. I guess it was seen as very helpful for international trade.</p><p><br /></p><p>Another aspect of 19th and early 20th century coinage I find interesting is the coinage rights of member governments of federations. The German and Austro-Hungarian Empires allowed their constituent parts to issue gold and silver coins in certain denominations, but Canada and the U.S. did not. In the last case, the constitutional framers banned state coinage and paper money issuance because they were worried about debasement. But U.S. law permitted *private* coinage without problems, as well as free private bank note issue (with, occasionally, lots of problems). In the 20th century, colonial dependencies usually obtained rights of coinage, which they eventually commercialized for the collector market. Again, an area where the politics are fascinating.[/QUOTE]</p><p><br /></p>
[QUOTE="Ag76, post: 3375850, member: 100584"]I knew some of that history, but thanks for the further explanation. It's a bit surprising that Latin American states would be so eager to sign onto a European standard, but then, the move from bimetallism to gold convertibility was also a European innovation. I guess it was seen as very helpful for international trade. Another aspect of 19th and early 20th century coinage I find interesting is the coinage rights of member governments of federations. The German and Austro-Hungarian Empires allowed their constituent parts to issue gold and silver coins in certain denominations, but Canada and the U.S. did not. In the last case, the constitutional framers banned state coinage and paper money issuance because they were worried about debasement. But U.S. law permitted *private* coinage without problems, as well as free private bank note issue (with, occasionally, lots of problems). In the 20th century, colonial dependencies usually obtained rights of coinage, which they eventually commercialized for the collector market. Again, an area where the politics are fascinating.[/QUOTE]
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