Then in 1652, the people of the Massachusetts Bay Colony took a chance when England was without a king and established their own mint in Boston. While a few charters allowed colonies to produce their own coins, most did not. In colonial America, settlers were expected to follow the rules set by the king of England. On April 2, 1792, Congress passed the Coinage Act, also known as the Mint Act, which among other things, created the United States Mint. #1577 shows an Indian head penny and a Morgan-type Silver Dollar. Large size silver certificates were issued from 1878-1923, while small size silver certificates were issued from 1928-1964.Establishment of the U.S. They were intended to be redeemable for their worth in silver dollar coins, but since 1968 have only been redeemable in Federal Reserve Notes.
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