Mint Statutes

Mint Statutes

 

the rules established by law which regulate the minting of coins in a country.

Mint statutes determine whether coinage shall be free or restricted, the standard of the precious metal used, the weight, type, and inscription of the coins produced, tolerance in minting, rules for withdrawing coins from circulation, and so on. Mint statutes change as monetary systems change. Under the gold standard, mint statutes regulated the circulation of both fully valued and devalued coins. When paper money is in regular use, only the circulation of devalued coins is determined through such statutes. Violations of mint statutes such as counterfeiting are punishable by law.

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