Coin - Definition - Law Dictionary Home Dictionary Definition coin

Definition :

Coin [fr. coign, Fr.; cuneus, Lat., a wedge], a piece of metal stamped with certain marks and made current at a certain value. The coining of money is in all states the prerogative of the sovereign power; and, as money is the medium of commerce, it is the Crown's prerogative and monopoly, as arbiter of domestic commerce, to give it authority or make it current.

By the (English) Coinage Offences Act, 1861 (24 & 25 Vict. c. 99), it was made a felony to counter-feit coin; to colour or gild, so as to make a resemblance to gold or silver coin; to impair or lighten coin; to have in unlawful possession filings or clippings produced by impairing or lightening coin; to buy or sell or import or utter counterfeit coin. There were numerous other provisions tending to the suppression of the manufacturing, import in and uttering of counterfeit coin. See the (English) Counterfeit Currency (Convention) Act, 1935 (25 & 26 Geo. 5, c. 25), an Act to enable effect to be given to an International Convention for the suppression of counterfeiting Currency, to apply to foreign coin certain enactments relating to British coin, and to assimilate the penalties for importing and exporting counterfeit coin, and see now the Coinage Offences Act, 1936 (26 Geo. 5 and 1 Edw. 8, c. 16), a (English) Consolidating Act.

The (English) Coinage Act, 1870 (33 & 34 Vict. c. 10), consolidated and amended the laws relating to coinage and his Majesty's Mint. This Act was amended by the (English) Coinage Acts of 1891 and 1920. The (English) Gold Standard Act, 1925 (15 & 16 Geo. 5, c. 29), made a return to the Gold Standard, but the Gold Standard is now suspended until by Proclamation directed otherwise, see (English) Gold Standard (Amendment) Act, 1931 (21 & 22 Geo. 5, c. 46). See TENDER and CURRENCY AND BANK NOTES ACT.