Chapter LXXIX.
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Chap. LXXIX.— *An Act* *Amendatory of Existing Laws relative to the Half Dollar, Quarter Dollar, Dime, and Half Dime.* (*a*)(*a*)Act of Jan. 18, 1837, ch. 3, sec. 9; 5 Stat, at Large, 137; 1853, ch, 96, sec. 7.Feb. 21, 1853. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, 1853 ch. 96 § 7. That from and after the first Weight of the half dollar and quarter, dime and half dime, after June 1, 1853.day of June, eighteen hundred and fifty-two, [three] the weight of the half dollar or piece of fifty cents shall be one hundred and ninety-two-grains, and the quarter dollar, dime, and half dime, shall be, respectively, one half, one fifth, and one tenth of the weight of said half dollar.
Sec. 2. Such coins when to be a legal tender.*And be it further enacted*, That the silver coins issued in conformity with the above section, shall be legal tenders in payment of debts for all sums not exceeding five dollars. Sec. 3. Purchase of the silver bullion for such coinage.*And be it further enacted*, That in order to procure bullion for the requisite coinage of the subdivisions of the dollar authorized by this act, the Treasurer of the Mint shall, with the approval of the Director, purchase such bullion with the bullion fund of the mint.
He shall charge himself with the gain arising from the coinage of such bullion into coins of a nominal value exceeding the intrinsic value thereof, and shall be credited with the difference between such intrinsic value and the price paid for said bullion, and with the expense of distributing said coins as hereinafter provided. The balances to his credit, or the profit of said coinage, shall be, from time to time, on a warrant of the Director of the mint, transferred to the account of the Treasury of the United States.
Sec. 4. Such coins, how to be exchanged and paid out of mint.*And be it further enacted*, That such coins shall be paid out at the mint, in exchange for gold coins at par, in sums not less than one hundred dollars; and it shall be lawful, also, to transmit parcels of theTHIRTY-SECOND CONGRESS. Sess. II. Ch. 80. 1853.161 same from time to time to the assistant treasurers, depositaries, and other officers of the United States, under general regulations, proposed by the Director of the Mint, and approved by the Secretary of the Treasury: *Provided, however*, That the amount coined into quarter dollars, dimes,Amount of coinage regulated.No private deposits for said coins to be received. and half dimes, shall be regulated by the Secretary of the Treasury.
Sec. 5. *And be it further enacted*, That no deposits for coinage into the half dollar, quarter dollar, dime, and half dime, shall hereafter be received, other than those made by the Treasurer of the Mint, as herein authorized, and upon account of the United States. Sec. 6. *And be it further enacted*, That, at the option of the depositor,Depositors may have their gold and silver cast into ingots or bars. gold or silver may be cast into bars or ingots of either pure metal or of standard fineness, as the owner may prefer, with a stamp upon the same designating its weight and fineness; but no piece, of either gold or silver, shall be cast into bars or ingots of a less weight than ten ounces, except pieces of one ounce, of two ounces, of three ounces, and of five ounces, all of which pieces of less weight than ten ounces shall be of the standard fineness, with their weight and fineness stamped upon them; but, in [all] cases, whether the gold and silver deposited be coined or cast into bars or ingots, there shall be a charge to the depositor, in addition to the charge now made for refining or parting the metals, of one half of oneCharge of half per cent, to the depositor in all cases. per centum; the money arising from this charge of one half per centum shall be charged to the Treasurer of the Mint, and from time to time, on warrant of the Director of the Mint, shall be transferred into the Treasury of the United States: *Provided, however*, That nothing contained in thisThis section not to apply to said silver coins. section shall be considered as applying to the half dollar, the quarter dollar, the dime, and half dime.
Sec. 7. *And be it further enacted*, That from time to time there shallGold coins of $3 established. be struck and coined at the Mint of the United States, and the branches thereof, conformably in all respects to law, and conformably in all respects to the standard of gold coins now established by law, a coin of gold of the value of three dollars, or units, and all the provisions of an act entitled “An act to authorize the coinage of gold dollars and double eagles,”Provisions of act 1849, ch. 109, made applicable to said coin. approved March third, eighteen hundred and forty-nine, shall be applied to the coin herein authorized, so far as the same may be applicable; but the devices and shape of the three dollar piece shall be fixed by the Secretary of the Treasury.
Sec. 8. *And be it further enacted*, That this act shall be in force fromTo take effect June 2, 1853.1853, ch. 96 sec. 7. and after the first day of June next. Approved, February 21, 1853.