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Copper Coinage Act of 1792

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Copper Coinage Act of 1792
Great Seal of the United States
Long titleAn Act to provide for a Copper Coinage.
Enacted bythe 2nd United States Congress
EffectiveMay 8, 1792
Citations
Public lawPub. L. 2–39
Statutes at Large1 Stat. 283, Chap. 39
Legislative history
  • Introduced in the Senate[1] by Paine Wingate[2] (F–NH) on May 8, 1792
  • Signed into law by President George Washington on May 8, 1792

Copper Coinage Act of 1792 is a United States statute authorizing copper coinage to be engraved and issued by the United States Mint. The Act of Congress confirmed the procurement of copper not to exceed a weight of 150 short tons (300,000 lb). The United States Mint procured a shipment of copper at a weight of 15 short tons (30,000 lb) as endorsed by the first director of the mint David Rittenhouse.[3][4]

In 1792, the United States Mint petitioned Henry Voigt as the Chief Coiner providing craftsmanship as an artwork engraver for the United States copper coinage and early American currency.[5][6] Mr. Rittenhouse commissioned the artisan talents of Robert Scot and Joseph Wright to assist the skillful engraving efforts of Henry Voigt as the Chief Engraver of the United States Mint.

Declaration of the Act

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Copper Coinage Act of 1792 was penned as two sections providing authorizations and rulings for the issuance of authentic copper currency by the United States Mint.

  • U.S. Mint Director, appointed and endorsed by the Coinage Act of 1792, was authorized to contract and purchase a quantity of a group 11 element being pure or unalloyed copper. The coinage metal was to be defined as a federal standard having a consistency in uniformity and weight.[7][8]
  • Copper purchase quantity not to exceed a weight of 150 short tons (300,000 lb)
  • Copper to be coined into cents as authorized by the Coinage Act of 1792
  • U.S. Mint Director to publish when a monetary sum has been paid into the United States Treasury
  • Forfeiture of copper planchets offered as milled coinage holding incredulous purchasing power which was not issued from the new foundry of the United States Mint

Copper Coin Contract of 1787

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James Jarvis was a coin minter utilizing artistic repoussé and chasing techniques in Colonial America. In 1785, Abel Buell and James Jarvis established a currency mint in New Haven, Connecticut sustaining operations of milled coinage until 1788.[9]

On April 21, 1787, the Continental Congress endorsed a contract for 300 short tons (600,000 lb) of copper coin being of federal standard from James Jarvis.[10] The copper coinage was milled as the first standardized coin of Colonial America known as the Fugio cent.[11][12]

Correspondence affirming a narrative concerning the Copper Coin Contract of 1787 with James Jarvis:

  • Continental Congress (April 9, 1787). "Report of Board of Treasury on Proposals for Coining Copper". Journals of the Continental Congress, 1774-1789. 32 (Monday, April 9, 1787): 160–164.
  • Continental Congress (April 21, 1787). "Report on Copper Coinage of 1787" [Board of Treasury to contract copper coin of Federal standard from James Jarvis]. Journals of the Continental Congress, 1774-1789. 32 (Saturday, April 21, 1787): 223–225.
  • Broome, Samuel (August 13, 1788). "To Alexander Hamilton from Samuel Broome". Founders Online. U.S. National Archives and Records Administration.
  • Board of Treasury (New York) (June 10, 1789). "To George Washington from the Board of Treasury". Founders Online. U.S. National Archives and Records Administration.
  • Jarvis, James (February 10, 1790). "To Alexander Hamilton from James Jarvis". Founders Online. U.S. National Archives and Records Administration.
  • Bailey, John (April 17, 1790). "To George Washington from John Bailey". Founders Online. U.S. National Archives and Records Administration.
  • Jarvis, James (March 19, 1791). "To Alexander Hamilton from James Jarvis". Founders Online. U.S. National Archives and Records Administration.
  • Bronson, M.D., Henry (1865). "A Historical Account of Connecticut Currency, Continental Money, and the Finances of the Revolution" [Chapter XIII: First United States Coinage ~ Connecticut Coppers]. Internet Archive. New Haven Colony Historical Society. pp. 175–182.
  • Douglas, Damon G. (1949). "James Jarvis and the Fugio Coppers" [Unpublished Manuscript with Corrections]. Internet Archive. American Numismatic Society.[13]

Diplomatic correspondence concerning early American copper coinage

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First coins of America July 13, 1792 [14]

See also

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References

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  1. ^ 2nd United States Congress (May 8, 1792). "Copper Coinage Act of 1792". Journal of the House of Representatives of the United States, First Session, 1789-1793. I (Tuesday, May 8, 1792). U.S. Library of Congress: 605–606.{{cite journal}}: CS1 maint: numeric names: authors list (link)
  2. ^ 2nd United States Congress (May 8, 1792). "Copper Coinage Act of 1792". Journal of the Senate of the United States of America, First Session, 1789-1793. I (Tuesday, May 8, 1792). U.S. Library of Congress: 442.{{cite journal}}: CS1 maint: numeric names: authors list (link)
  3. ^ Jefferson, Thomas (June 20, 1792). "To George Washington from Thomas Jefferson". Founders Online. U.S. National Archives and Records Administration.
  4. ^ Washington, George (July 9, 1792). "From George Washington to David Rittenhouse". Founders Online. U.S. National Archives and Records Administration.
  5. ^ Voigt, Henry (April 13, 1792). "To George Washington from Henry Voigt". Founders Online. U.S. National Archives and Records Administration.
  6. ^ Jefferson, Thomas (June 9, 1792). "To George Washington from Thomas Jefferson". Founders Online. U.S. National Archives and Records Administration.
  7. ^ Jefferson, Thomas (April 14, 1790). "Report on Copper Coinage". Founders Online. U.S. National Archives and Records Administration.
  8. ^ Coxe, Tench (November 15, 1790). "To Alexander Hamilton from Tench Coxe". Founders Online. U.S. National Archives and Records Administration.
  9. ^ Platt, Jeremiah (1788). "1788 Connecticut and Federal Mint Account Book". Internet Archive. New Haven, Connecticut Museum.
  10. ^ Congress of the Confederation (April 21, 1787). "Copper Coinage Contract and James Jarvis". United States Library of Congress. LCCN 90898265.
  11. ^ Congress of the Confederation (July 6, 1787). "Copper Coinage Stamp as Fugio Cent". Journals of the Continental Congress, 1774-1789. XXXII. United States Library of Congress: 303–304. LCCN 05000059.
  12. ^ "Money in Colonial Times". Federal Reserve Bank of Philadelphia.
  13. ^ Douglas, Damon G. (September 9, 2021). James Jarvis and the Fugio Coppers [unpublished Manuscript With Corrections]. Creative Media Partners, LLC. ISBN 978-1013498886.
  14. ^ "Inspection of the First Coins of the First United States Mint" [The First U.S. Mint and Its First Coins]. The Numismatist. Vol. 29. American Numismatic Association. February 1916. p. 62 – via Internet Archive.
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