{{Short description|Act of the Parliament of the United Kingdom}} {{Use dmy dates|date=April 2025}} {{Use British English|date=April 2025}} {{Infobox UK legislation |short_title = Coinage Act 1816 |type = Act |parliament = Parliament of the United Kingdom |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. |year = 1816 |citation = [[56 Geo. 3]]. c. 68 |territorial_extent = [[United Kingdom]] |royal_assent = 22 June 1816 |commencement = 22 June 1816{{efn|Section 1.}} |repeal_date = 4 April 1870 |amendments = |related_legislation = |repealing_legislation= [[Coinage Act 1870]] |status = Repealed |original_text = https://archive.org/stream/statutesunitedk32britgoog/page/n436 }} The '''Coinage Act 1816''' ([[56 Geo. 3]]. c. 68), also known as the '''Coin Act 1816''' or '''Liverpool's Act''',<ref>{{cite book |last=Sargent |first=Thomas J. |title=The Big Problem of Small Change |year=2002 |publisher=Princeton University Press |page=303 }}</ref> was an [[Act of Parliament (United Kingdom)|act]] of the [[Parliament of the United Kingdom]] that defined the value of the [[pound sterling]] relative to [[gold]]. One [[troy weight|troy pound]] of standard (22-[[carat (purity)|carat]]) gold was defined as equivalent to £46 14''s'' 6''d''.,<ref>{{cite book |last=Lisle |first=George |title=Accounting in Theory and Practice |publisher=William Green & Sons|year=1906 |page=277 |chapter=British Currency: Gold |chapter-url=https://archive.org/stream/accountinginthe06lislgoog#page/n295/mode/2up }}</ref> i.e. {{nowrap|44{{frac|2}} guineas}}, the [[guinea (British coin)|guinea]] having been fixed in December 1717 at {{nowrap|£1 1''s''}} exactly. According to its preamble, the purposes of the act were to: * prohibit the use of silver coins (which would now be of reduced weight, {{nowrap|66 shillings}} rather than {{nowrap|62 shillings}} per troy pound), for transactions larger than 40''s'' * establish a single [[gold standard]] for transactions of all sizes.<ref>{{cite book |last=Scott |first=William Amasa |title=Money and Banking |chapter=XV.2: Currency Reform in England and the Act of 1816 |publisher=Henry Holt and Company |year=1903 |url=http://chestofbooks.com/finance/banking/Money-And-Banking/2-Currency-Reform-In-England-And-The-Act-Of-1816.html }}</ref>
== Legacy == The whole act was repealed by section 20 of, and the second part of the second schedule to, the [[Coinage Act 1870]] ([[33 & 34 Vict.]] c. 10)
== See also == * [[Great Recoinage of 1816]]
== Notes == {{Notelist}}
== References == {{reflist}}
==External links== * [https://archive.org/stream/statutesunitedk32britgoog#page/n436/mode/2up Text as originally enacted] * [http://www.royalmint.com The Royal Mint - official website] * [http://blog.royalmint.com The Royal Mint - official blog] {{Webarchive|url=https://web.archive.org/web/20120918135902/http://blog.royalmint.com/ |date=18 September 2012 }}
{{Mints in the United Kingdom}} {{HM Treasury}} {{UK legislation}} {{Authority control}} {{coord|51.5542|-3.3889|type:landmark_region:GB-RCT|display=title}}
[[Category:United Kingdom Acts of Parliament 1816]] [[Category:Repealed United Kingdom Acts of Parliament]] [[Category:History of British coinage]] [[Category:Gold legislation]] [[Category:1816 in economic history]] [[Category:Gold standard]] [[Category:Currencies of the United Kingdom]] [[Category:Gold in the United Kingdom]] [[Category:Currency law in the United Kingdom]]
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