Act of Parliament | |
Long title | An Act to provide for a New Silver Coinage, and to regulate the Currency of the Gold and Silver Coin of this Realm. |
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Citation | 56 Geo. 3. c. 68 |
Territorial extent | United Kingdom of Great Britain and Ireland |
Dates | |
Royal assent | 22 June 1816 |
Other legislation | |
Repealed by | Coinage Act 1870 |
Status: Repealed | |
Text of statute as originally enacted |
The Coinage Act 1816 (56 Geo. 3. c. 68), also known as the Coin Act 1816 or Liverpool's Act,[1] 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.,[2] i.e. 44½ guineas, the guinea having been fixed in December 1717 at £1 1s exactly. According to its preamble, the purposes of the Act were to: