The Coinage Act of 1965, Pub.L. 89-81, 79 Stat. 254, enacted 1965-07-23, eliminated silver from the circulating dimes and quarter dollars of the United States, and diminished the silver content of the half dollar from 90% to 40%. Public law is a theory of law governing the relationship between Individuals ( Citizens companies) and the State. The United States Statutes at Large, commonly referred to as the Statutes at Large and abbreviated Stat Year 1965 ( MCMLXV) was a Common year starting on Friday (link will display full calendar of the 1965 Gregorian calendar. Events 1632 - Three hundred colonists bound for New France depart from Dieppe France. Quarter dollar may refer to ΒΌ unit of currencies that are named Dollar. This act was in response to coin shortages caused by the rising price of silver.
In addition to the above provisions, for which it is best known, the act:
- Allowed the Secretary of the Treasury to continue to strike 90% silver coins for up to five years, until the Secretary determined there was an adequate supply of clad coins. This authority was exercised, through 1966, though the coins were dated 1964.
- Forbade the minting of silver dollars for five years.
- Made all coins and currency of the United States (including certain bank issues) a legal tender. Legal tender or forced tender is Payment that by Law, cannot be refused in settlement of a Debt ( Debtor cannot successfully be sued This has been taken to reverse the demonetisation of the Trade Dollar. Legal tender or forced tender is Payment that by Law, cannot be refused in settlement of a Debt ( Debtor cannot successfully be sued Trade Dollars were coins issued by various countries for use in foreign trade
- Gave the Secretary broad discretion to enter into contracts to assure an adequate supply of clad coins, without regard to public procurement laws.
- Established a Joint Commission to make recommendations regarding coin and currency. [1]
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