- published: 30 Nov 2015
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A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender.
Coins are usually metal or a metallic material and sometimes made of synthetic materials, usually in the shape of a disc, and most often issued by a government. Coins are used as a form of money in transactions of various kinds, from the everyday circulation coins to the storage of large numbers of bullion coins. In the present day, coins and banknotes make up currency, the cash forms of all modern money systems. Coins made for paying bills and general monetized use are usually used for lower-valued units, and banknotes for the higher values; also, in many money systems, the highest value coin made for circulation is worth less than the lowest-value note. In the last hundred years, the face value of circulation coins has usually been higher than the gross value of the metal used in making them; exceptions occurring when inflation causes the metal value to surpass the face value, causing the minting authority to change the composition and the old coins to begin to disappear from circulation (see Gresham's Law.) However, this has generally not been the case throughout the rest of history for circulation coins made of precious metals.
John Adams (October 30, 1735 (O.S. October 19, 1735) – July 4, 1826) was an American Founding Father, and the second President of the United States (1797–1801). He was also a lawyer, statesman, diplomat, political theorist, and a leading champion of independence in 1776. Hailing from New England, Adams, a prominent lawyer and public figure in Boston, was highly educated and represented Enlightenment values promoting republicanism. A Federalist, he was highly influential and one of the key Founding Fathers of the United States.
Adams came to prominence in the early stages of the American Revolution. As a delegate from Massachusetts to the Continental Congress, he played a leading role in persuading Congress to declare independence and assisted Thomas Jefferson in drafting the Declaration of Independence. As a diplomat in Europe, he was a major negotiator of the eventual peace treaty with Great Britain, and chiefly responsible for obtaining important loans from Amsterdam bankers. A political theorist and historian, Adams largely wrote the Massachusetts Constitution in 1780 which soon after ended slavery in Massachusetts, but was in Europe when the federal Constitution was drafted on similar principles later in the decade. One of his greatest roles was as a judge of character: in 1775, he nominated George Washington to be commander-in-chief, and 25 years later nominated John Marshall to be Chief Justice of the United States.