In the United States, Congress holds the exclusive power to coin money and regulate its value. This power is granted by Article I, Section 8, Clause 5 of the U.S. Constitution.
- Congress’s power: The Constitution grants Congress the power “To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures”.
- Exclusive authority: The Supreme Court has interpreted this as giving Congress sole authority over U.S. currency.
- U.S. Mint’s role: The [U.S. Mint] , part of the [U.S. Department of the Treasury] , handles the physical production of coins.
- Limitations on states: States are prohibited by Article I, Section 10 of the Constitution from coining money or using anything other than gold and silver coins as legal tender.
Therefore, while the U.S. Mint produces coins, the ultimate authority to create and regulate money lies with Congress.
Who has the power to coins money?
Great question! Congress and Currency
Article I, Section 8, Clause 5 is known as the coinage clause. It gives Congress the exclusive power to coin money. The Supreme Court has also interpreted clause 5 as giving Congress the sole authority to regulate every aspect of United States currency.
Who has the power to coin money and declare war?
Great question! The Constitution assigned to Congress responsibility for organizing the executive and judicial branches, raising revenue, declaring war, and making all laws necessary for executing these powers.
Who has the power to make more currency?
The Federal Reserve, as America’s central bank, is responsible for controlling the supply of U.S. dollars. The Fed purchases securities on the open market and adds the corresponding funds to the bank reserves of commercial banks, who create more money by lending it.
What branch has the power to coin?
Article I, Section 8, Clause 5: [ The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; . . .