The Rules and Regulations under the Hobby Protection Act require that all imitation numismatic and imitation political items sold in, or imported into, the United States be marked with the word “Copy” or the year of manufacture. An amendment to the Rule in 1988 permits manufacturers of miniature numismatic items to mark the word “Copy” in smaller dimensions than those required under the previous Rule.

The Commission determined, at that time, that the amendment would facilitate compliance with the Rule and eliminate potential costs, in both time and resources, to industry and the Commission from individual variance applications for miniature numismatic items. The Commission is conducting a review of this Rule under the Regulatory Flexibility Act, 5 USC 601 et seq., as amended by the Small Business Regulatory Enforcement Fairness Act of 1996.

At the same time, and as part of its systematic review of all current Commission rules and guides, the Commission requested comments on, among other things, the economic impact of, and the continuing need for, this Rule, possible conflict between the Rule and state, local and other federal laws, and the effect on the Rule of any technological, economic, or other industry changes, with particular emphasis on the effect on small businesses.

Related Links to Commentary on the Hobby protection Act:
No Protection Help From The Feds by Harry Rinker (more…)

The motto IN GOD WE TRUST was placed on United States coins largely because of the increased religious sentiment existing during the Civil War. Secretary of the Treasury Salmon P. Chase received many appeals from devout persons throughout the country, urging that the United States recognize the Deity on United States coins. From Treasury Department records, it appears that the first such appeal came in a letter dated November 13, 1861. It was written to Secretary Chase by Rev. M. R. Watkinson, Minister of the Gospel from Ridleyville, Pennsylvania, and read:

Dear Sir: You are about to submit your annual report to the Congress respecting the affairs of the national finances.

One fact touching our currency has hitherto been seriously overlooked. I mean the recognition of the Almighty God in some form on our coins.

You are probably a Christian. What if our Republic were not shattered beyond reconstruction? Would not the antiquaries of succeeding centuries rightly reason from our past that we were a heathen nation? What I propose is that instead of the goddess of liberty we shall have next inside the 13 stars a ring inscribed with the words PERPETUAL UNION; within the ring the allseeing eye, crowned with a halo; beneath this eye the American flag, bearing in its field stars equal to the number of the States united; in the folds of the bars the words GOD, LIBERTY, LAW.

This would make a beautiful coin, to which no possible citizen could object. This would relieve us from the ignominy of heathenism. This would place us openly under the Divine protection we have personally claimed. From my hearth I have felt our national shame in disowning God as not the least of our present national disasters.

To you first I address a subject that must be agitated.

(more…)

Coinage Act (1792)

From: United States Statutes at Large, 2nd Cong., Sess. I., p. 246-251
April 2, 1792

AN ACT

Establishing a Mint, and regulating the Coins of the United States.

Section 1. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, and it is hereby enacted and declared, That a mint for the purpose of a national coinage be, and the same is established; to be situate and carried on at the seat of the government of the United States, for the time being: And that for the well conducting of the business of the said mint, there shall be the following officers and persons, namely,–a Director, an Assayer, a Chief Coiner, an Engraver, a Treasurer.

Sec. 2. And be it further enacted, That the Director of the mint shall employ as many clerks, workmen and servants, as he shall from time to time find necessary, subject to the approbation of the President of the United States. (more…)

  First Bank of United States, Feb. 25, 1791.

  Supplementary Act to First Bank, Mar. 2, 1791.

  Mint and Coinage Act, April 2, 1792.

 Act to Mint Copper Pennies, May 8, 1792.

 Act Regulating Foreign Coin, Feb. 9, 1793.

Alteration of Mint Act, Mar. 3, 1794

 Supplementation of Mint Act, Mar. 3, 1795.

 An Act Respecting the Mint , Mar. 27, 1796.

 Act Regulating Foreign Coin, Feb. 1, 1798. (more…)

1834 June 27

Coinage Act, 1834 [United States]: ‘An Act concerning the gold coins of the United States, and for other purposes.’ In order to bring the gold price into line with the silver price, the United States government provided for a slightly revised ratio of gold to the dollar. As silver remained unchanged, this had the effect of slightly altering the gold to silver from the ratio established in the Coinage Act of 1792. After 1834, the new ratio was approximately 16 to 1. One ounce of gold was the equivalent of $20.67.

* * *

Be it enacted by the Senate and House of Representatives of the United States of America, in Congress assembled, That the gold coins of the United States shall contain the following quantities of metal, that is to say: each eagle shall contain two hundred and thirty-two grains of pure gold, and two hundred and fifty-eight grains of standard gold; each half eagle one hundred and sixteen grains of pure gold, and one hundred and twenty-nine grains of standard gold; each quarter eagle shall contain fifty-eight grains of pure gold, and sixty-four and a half grains of standard gold; every such eagle shall be of the value of ten dollars; every such half eagle shall be of the value of five dollars; and every such quarter eagle shall be of the value of two dollars and fifty cents; and the said gold coins shall be receivable in all payments, when of full weight, according to their respective values; and when of less than full weight, at less values, proportioned to their respective actual weights.

SEC. 2. And be it further enacted, That all standard gold or silver deposited for coinage after the thirty-first of July next, shall be paid for in coin under the direction of the Secretary of the Treasury, within five days from the making of such deposit, deducting from the amount of said deposit of gold and silver one-half of one per centum: Provided, That no deduction shall be made unless said advance be required by such depositor within forty days.

SEC. 3. And be it further enacted, That all gold coins of the United States, minted anterior to the thirty-first day of July next, shall be receivable in all payments at the rate of ninety-four and eight-tenths of a cent per pennyweight.

SEC. 4. And be it further enacted, That the better to secure a conformity of the said gold coins to their respective standards as aforesaid, from every separate mass of standard gold which shall be made into coins at the said mint, there shall be taken, set apart by the treasurer and reserved in his custody, a certain number of pieces, not less than three, and that once in every year the pieces so set apart and reserved shall be assayed under the inspection of the officers, and at the time, and in the manner now provided by law, and, if it shall be found that the gold so assayed, shall not be inferior to the said standard hereinbefore declared, more than one part in three hundred and eighty-four in fineness, and one part in five hundred in weight, the officer or officers of the said mint whom it may concern, shall be held excusable; but if any greater inferiority shall appear, it shall be certified to the President of the United States, and if he shall so decide, the said officer or officers shall be thereafter disqualified to hold their respective offices: Provided, That if, in making any delivery of coin at the mint in payment of a deposit, the weight thereof shall be found defective, the officer concerned shall be responsible to the owner for the full weight, if claimed at the time of delivery
.

[110th CONGRESS House Bills]
[From the U.S. Government Printing Office via GPO Access]
[DOCID: h2358enr.txt]
[Enrolled Bill]
H.R.2358

One Hundred Tenth Congress of the United States of America

AT THE FIRST SESSION

Begun and held at the City of Washington on Thursday, the fourth day of January, two thousand and seven

An Act

To require the Secretary of the Treasury to mint and issue coins in
commemoration of Native Americans and the important contributions made
by Indian tribes and individual Native Americans to the development of
the United States and the history of the United States, and for other
purposes.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Native American $1 Coin Act”. (more…)

Section 1. Short Title.

This Act may be cited as the ‘Presidential $1 Coin Act of 2005′.

Title I–Presidential $1 Coins

Sec. 101. Findings.

Congress finds the following:

(1) There are sectors of the United States economy, including public transportation, parking meters, vending machines, and low-dollar value transactions, in which the use of a $1 coin is both useful and desirable for keeping costs and prices down.

(2) For a variety of reasons, the new $1 coin introduced in 2000 has not been widely sought-after by the public, leading to higher costs for merchants and thus higher prices for consumers.

(3) The success of the 50 States Commemorative Coin Program (31 U.S.C. 5112(l)) for circulating quarter dollars shows that a design on a United States circulating coin that is regularly changed in a manner similar to the systematic change in designs in such Program radically increases demand for the coin, rapidly pulling it through the economy.

(4) The 50 States Commemorative Coin Program also has been an educational tool, teaching both Americans and visitors something about each State for which a quarter has been issued. (more…)