Coinage Act 1816

The Coinage Act 1816 (56 Geo. 3. c. 68), also known as the Coin Act 1816 or Liverpool's Act, was an act of the Parliament of the United Kingdom that 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., i.e. , the guinea having been fixed in December 1717 at 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, rather than per troy pound), for transactions larger than 40s establish a single gold standard for transactions of all sizes.

Subsequent developments The whole act was repealed by section 20 of, and the second part of the second schedule to, the Coinage Act 1870 (33 & 34 Vict. c. 10), which came into force on 4 April 1870.

Coinage Act 1816

Bron en licentie