The Coinage Act 1816 (56 Geo. 3. c. 68), also known as the Coin Act 1816 or Liverpool's Act,[1] defined the value of the pound sterling relative to gold. One troy pound of standard (22-carat) gold was defined as equivalent to £46 14s 6d.,[2] i.e. 44½ guineas, the guinea having been fixed in December 1717 at £1 1s exactly. According to its preamble, the purposes of the Act were to:
prohibit the use of silver coins (which would now be of reduced weight, 66 shillings rather than 62 shillings per troy pound), for transactions larger than 40s
establish a single gold standard for transactions of all sizes.[3]
coinage, 1816, also, known, coin, 1816, liverpool, defined, value, pound, sterling, relative, gold, troy, pound, standard, carat, gold, defined, equivalent, guineas, guinea, having, been, fixed, december, 1717, exactly, according, preamble, purposes, were, pro. The Coinage Act 1816 56 Geo 3 c 68 also known as the Coin Act 1816 or Liverpool s Act 1 defined the value of the pound sterling relative to gold One troy pound of standard 22 carat gold was defined as equivalent to 46 14s 6d 2 i e 44 guineas the guinea having been fixed in December 1717 at 1 1s exactly According to its preamble the purposes of the Act were to prohibit the use of silver coins which would now be of reduced weight 66 shillings rather than 62 shillings per troy pound for transactions larger than 40s establish a single gold standard for transactions of all sizes 3 Act of ParliamentParliament of the United KingdomLong titleAn Act to provide for a New Silver Coinage and to regulate the Currency of the Gold and Silver Coin of this Realm Citation56 Geo 3 c 68Territorial extent United Kingdom of Great Britain and IrelandDatesRoyal assent22 June 1816Other legislationRepealed byCoinage Act 1870Status RepealedText of statute as originally enactedSee also editGreat Recoinage of 1816References edit Sargent Thomas J 2002 The Big Problem of Small Change Princeton University Press p 303 Lisle George 1906 British Currency Gold Accounting in Theory and Practice William Green amp Sons p 277 Scott William Amasa 1903 XV 2 Currency Reform in England and the Act of 1816 Money and Banking Henry Holt and Company External links editText as originally enacted The Royal Mint official website The Royal Mint official blog Archived 18 September 2012 at the Wayback Machine 51 33 15 N 3 23 20 W 51 5542 N 3 3889 W 51 5542 3 3889 nbsp This legislation in the United Kingdom or its constituent jurisdictions article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Coinage Act 1816 amp oldid 1203311561, wikipedia, wiki, book, books, library,
