Coin & Medal 50 $ Half Union (1877)

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The 1877 Coinage Act was a pivotal piece of legislation that transformed the US monetary system. Prior to its passage, the country's currency was based on a complex mix of gold and silver standards, which led to widespread confusion and economic instability. The act introduced the bimetallic standard, where both gold and silver coins were recognized as legitimate forms of exchange. This move marked a significant shift away from the earlier specie standard, where only precious metals could be used for transactions.