Another thing we never knew about our money. Or did we?

The Coinage Act of 1792 was a law that established the United States Mint, the U.S. dollar, and the nation's first decimal-based coinage system. The act was passed by Congress on April 2, 1792. It also Established the U.S. Mint in Philadelphia. established the U.S. dollar as the country's standard currency, set the U.S. dollar to the Spanish milled dollar and its fractional parts, established decimal coinage in parts of 100, specified the metals and denominations of coins.

Why was the Coinage Act of 1792 passed? The act was passed in response to a growing need for coins and a shortage of silver. The act reduced the nation's dependence on silver for making coins.