Chronological list of some monetary history events
April 2, 1792 established a bimettalic standard Silver dollar 416 grains, 371.25 grains silver 44.7 grains copper Eagle gold 258 grains .4837 troy ounces. ( $ 20.67 / ounce)
January 18 1837 - Silver dollar 412.4 grains 371.2 grains silver 41.2 grains copper
Mint Act of 1853 reduced subsidiary coinage weight to 384 grains of .9 fine silver
Mint Act of 1873 (2/12) omitted the provision for coinage of silver dollars, effectively establishing a de facto gold standard. Also, increased silver content of subsidiary coinage to 385.8 grains of .9 silver ( exactly 25 grams as a attempt to make coinage weights metric)
Bland-Alison Act of 1878 (2/28) authorized a silver purchase program and issuance of silver dollars and silver certificates.
January 1879 - Provisions of 1863 act were discontinued to prevent holders of US notes presenting them for gold, then receiving gold certificates.
Bank Act of 1882 - Resumed receipt of gold coin only for issuance of gold certificates.
Sherman Silver Purchase Act of 1890 authorized a silver purchase program and issuance of silver dollars and certificates.
Legislation of September 26, 1890 required 25 years from adoption to change coin designs.
Gold Standard Act of 1900 (3/14/00) - Clearly defined terms and conditions for issuance of gold certificates ( $ 20 minimun in coin only), but allows Treasurer to suspend issuance, at his discretion. Clearly defined the US dollar as a gold dollar ( 28.5 grains .9 fine gold)
Gold certificate order (3/4/07) eliminated certificates of less than $ 10
Gold certificate order (3/4/07) allowed exchange of gold coin OR bullion for gold certificates.
2/4/10 required that any bond of the US be payable, principal and interest, in gold coin of standard value.
9/21/31 - Britain abandons gold standard
Emergency Banking Act (3/9/33) authorized the Secretary of the Treasury to require delivery of all gold bullion, coin, or certificates.
Executive Order # 6102 (4/5/33) terminated the circulation and redemption of the gold dollar
6/5/1933 Gold Repeal Joint Resolution canceled and eliminated gold clause in all public and private debt.
Treasury Order (1/15/34) required delivery of all gold coin, bullion, and certificates on or before 1/17/34.
Gold Reserve Act of 1934 (1/30/34) monetized all gold reserves and set the standard size at 400 troy ounces. All monetized gold reserves then revalued to $ 35 per ounce from previous $ 20.67 price.
1947 - $688M International Monetary Fund subscription paid in gold.
1953 - $500M International Monetary Fund subscription paid in gold.
1956 - $200M International Monetary Fund subscription paid in gold.
1957 - $600M International Monetary Fund subscription paid in gold.
1959 - $344M International Monetary Fund subscription paid in gold.
Silver Certificates were abolished by Congress on June 4, 1963.
PL 89-3 (3/3/65) lifted the 25% reserve requirement on US member banks, in Section 16 of the Federal Reserve Act (12/23/13)
Coinage Act of 1965 (PL 89-91, 7/23/65) returned legal tender status to gold coinage and currency.
PL 90-269 (3/18/68) lifted the 25% reserve requirement on US federal reserve notes, in Section 16 of the Federal Reserve Act (12/23/13)
Silver Certificates redemption in silver ceased on June 24, 1968
August 15, 1971, President Nixon suspends international gold convertibility of the US dollar (i.e. the "gold window")
Par Value Modification Act, PL 92-268, 3/31/72, $ 38.00 effective 05/08/72
Par Value Modification Act, PL 93-110, 9/21/73, $ 42.22 effective 10/18/73. Also, permitted private citizens to hold gold when the President found it would not adversely affect US international monetary position.
PL 93-373 (12/31/74) ended all restrictions on private gold ownership.
10/28/1977 PL 95-147 repeals 1933 gold clause resolution for private transactions
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