Description:

When Alexander Hamilton created the original text that became the Mint Act of 1792, he recommended a bi-metallic standard including both gold and silver. The unit of this coinage system was the dollar, which he envisioned would be struck in both metals. Hamilton specifically recommended a gold piece of 10 dollars, another of one dollar, a silver piece of one dollar, a silver dime or disme, a copper cent, and a copper half cent. As we know, Congress did not actually include the gold dollar in the Mint Act of 1792, and it would be nearly 60 years before the gold dollar actually became a reality. Gold dollars and double eagles were authorized by Congress in 1849, partly to provide additional uses for all of the California gold that began to make its way to world markets.