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1804 Silver Dollar
The 1804 dollar or Bowed Liberty Dollar was a dollar coin struck by the United States Mint, of which fifteen specimens are currently known to exist. Though dated 1804, none were struck in that year; all were minted in the 1830s or later. They were first created for use in special proof coin sets used as diplomatic gifts during Edmund Roberts' trips to Siam and Muscat. Edmund Roberts distributed the coins in 1834 and 1835. Two additional sets were ordered for government officials in Japan and Cochinchina, but Roberts died in Macau before they could be delivered. Besides those 1804 dollars produced for inclusion in the diplomatic sets, the Mint struck some examples which were used to trade with collectors for pieces desired for the Mint's coin cabinet. Numismatists first became aware of the 1804 dollar in 1842, when an illustration of one example appeared in a publication authored by two Mint employees. A collector subsequently acquired one example from the Mint in 1843. In respo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mean
There are several kinds of mean in mathematics, especially in statistics. Each mean serves to summarize a given group of data, often to better understand the overall value (magnitude and sign) of a given data set. For a data set, the ''arithmetic mean'', also known as "arithmetic average", is a measure of central tendency of a finite set of numbers: specifically, the sum of the values divided by the number of values. The arithmetic mean of a set of numbers ''x''1, ''x''2, ..., x''n'' is typically denoted using an overhead bar, \bar. If the data set were based on a series of observations obtained by sampling from a statistical population, the arithmetic mean is the ''sample mean'' (\bar) to distinguish it from the mean, or expected value, of the underlying distribution, the ''population mean'' (denoted \mu or \mu_x).Underhill, L.G.; Bradfield d. (1998) ''Introstat'', Juta and Company Ltd.p. 181/ref> Outside probability and statistics, a wide range of other notions of mean are o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
James Madison
James Madison Jr. (March 16, 1751June 28, 1836) was an American statesman, diplomat, and Founding Father. He served as the fourth president of the United States from 1809 to 1817. Madison is hailed as the "Father of the Constitution" for his pivotal role in drafting and promoting the Constitution of the United States and the Bill of Rights. Madison was born into a prominent slave-owning planter family in Virginia. He served as a member of the Virginia House of Delegates and the Continental Congress during and after the American Revolutionary War. Unsatisfied with the weak national government established by the Articles of Confederation, he helped organize the Constitutional Convention, which produced a new constitution. Madison's Virginia Plan was the basis for the Convention's deliberations, and he was an influential voice at the convention. He became one of the leaders in the movement to ratify the Constitution, and joined Alexander Hamilton and John Jay in writing '' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Secretary Of State
The United States secretary of state is a member of the executive branch of the federal government of the United States and the head of the U.S. Department of State. The office holder is one of the highest ranking members of the president's Cabinet, and ranks the first in the U.S. presidential line of succession among Cabinet secretaries. Created in 1789 with Thomas Jefferson as its first office holder, the secretary of state represents the United States to foreign countries, and is therefore considered analogous to a foreign minister in other countries. The secretary of state is nominated by the president of the United States and, following a confirmation hearing before the Senate Committee on Foreign Relations, is confirmed by the United States Senate. The secretary of state, along with the secretary of the treasury, secretary of defense, and attorney general, are generally regarded as the four most crucial Cabinet members because of the importance of their respective dep ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity Money
Commodity money is money whose value comes from a commodity of which it is made. Commodity money consists of objects having value or use in themselves (intrinsic value) as well as their value in buying goods. This is in contrast to representative money, which has no intrinsic value but represents something of value such as gold or silver, in which it can be exchanged, and fiat money, which derives its value from having been established as money by government regulation. Examples of commodities that have been used as media of exchange include gold, silver, copper, salt, peppercorns, tea, decorated belts, shells, alcohol, cigarettes, silk, candy, nails, cocoa beans, cowries and barley. Several types of commodity money were sometimes used together, with fixed relative values, in various commodity valuation or price system economies. Aspects Commodity money is to be distinguished from representative money, which is a certificate or token which can be exchanged for the un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Patterson (educator)
Robert Patterson (May 20, 1743 – July 22, 1824) was an American educator and director of the United States Mint. He was born on a lease-held farm near Hillsborough, County Down, Ireland, emigrated to the North American British colonies in 1768, and lived for a time in Philadelphia. In 1774, he became principal of an academy in Wilmington, Delaware. A Patriot in the American Revolution, after the battles of Lexington and Concord he began instructing his students in military matters and served as adjutant in a local company of the Delaware militia. When classes were suspended because of the War of Independence, he returned to Greenwich Township, Cumberland County, New Jersey, where he had earlier lived, and hastily received enough training to serve as an assistant surgeon in a New Jersey militia company. Militia service was not a full-time activity, but he frequently served in the field for nearly three years, and was appointed a brigade major. From 1779 to 1814, he was professo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elias Boudinot
Elias Boudinot ( ; May 2, 1740 – October 24, 1821) was a lawyer and statesman from Elizabeth, New Jersey who was a delegate to the Continental Congress (more accurately referred to as the Congress of the Confederation) and served as President of Congress from 1782 to 1783. He was elected as a U.S. Congressman for New Jersey following the American Revolutionary War. He was appointed by President George Washington as Director of the United States Mint, serving from 1795 until 1805. Early life and education Elias Boudinot was born in Philadelphia in the Province of Pennsylvania on May 2, 1740. His father, Elias Boudinot III, was a merchant and silversmith; he was a neighbor and friend of Benjamin Franklin. His mother, Mary Catherine Williams, was born in the British West Indies; her father was from Wales. Elias' paternal grandfather, Elie (sometimes called Elias) Boudinot, was the son of Jean Boudinot and Marie Suire of Marans, Aunis, France. They were a Huguenot (French Prot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Director Of The United States Mint
The director of the United States Mint is a presidential appointment that requires a Senate confirmation. The incumbent is Ventris Gibson, who became director of the Mint on June 22, 2022, after serving in acting capacity. When the position of the director is vacant, the senior career (non-political) official of the mint serves as the acting director. Until the appointment of Ryder as director, the Mint had been without an official director since the resignation of Edmund C. Moy in 2011. Richard A. Peterson succeeded Moy. Peterson served between January 2011 and March 2017. The longest serving director was Nellie Ross. Ross, who had earlier been the first female governor in American history while serving the state of Wyoming, was director from 1933 until 1953. In July 2015, Matthew Rhett Jeppson was nominated by President Barack Obama to become the Mint's 39th director and was given the temporary title of principal deputy director. However, the nomination was never confirm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Draped Bust Dollar
The Draped Bust dollar is a United States dollar coin minted from 1795 to 1803, and was reproduced, dated 1804, into the 1850s. The design succeeded the Flowing Hair dollar, which began mintage in 1794 and was the first silver dollar struck by the United States Mint. The designer is unknown, though the distinction is usually credited to artist Gilbert Stuart. The model is also unknown, though Ann Willing Bingham has been suggested. In October 1795, newly appointed Mint Director Elias Boudinot ordered that the legal fineness of 0.892 (89.2%) silver be used for the dollar rather than the unauthorized fineness of 0.900 (90%) silver that had been used since the denomination was first minted in 1794. Due largely to a decrease in the amount of silver deposited at the Philadelphia Mint, coinage of silver dollars declined throughout the latter years of the 18th century. In 1804, coinage of silver dollars was halted; the last date used during regular mint production was 1803. In 18 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philadelphia Mint
The Philadelphia Mint in Philadelphia was created from the need to establish a national identity and the needs of commerce in the United States. This led the Founding Fathers of the United States to make an establishment of a continental national mint, a main priority after the ratification of the Constitution of the United States. The Coinage Act of 1792 was entered into law on April 2. It proclaimed the creation of the United States Mint. Philadelphia at that time was the nation's capital; therefore the first mint facility was built there. The Coinage Act of 1792 also instituted a decimal system based on a dollar unit; specified weights, metallic composition and fineness; and required each United States coin feature "an impression emblematic of liberty". History First building (1792–1833) David Rittenhouse, an American scientist, was appointed the first director of the mint by President George Washington. Two lots were purchased by Rittenhouse on July 18, 1792, at Sevent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gresham's Law
In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation. The law was named in 1860 by economist Henry Dunning Macleod after Sir Thomas Gresham (1519–1579), an English financier during the Tudor dynasty. Gresham had urged Queen Elizabeth to restore confidence in then-debased English currency. The concept was thoroughly defined in medieval Europe by Nicolaus Copernicus and known centuries earlier in classical Antiquity, the Middle East and China. "Good money" and "bad money" Under Gresham's Law, "good money" is money that shows little difference between its nominal value (the face value of the coin) and its commodity value (the value of the metal of which it is made, often precious metals, nickel, or copper). In the absence of legal-tende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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