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In 1870, the primary currency used in the United States was the U.S. dollar, which was divided into 100 cents. At that time, the dollar was backed by gold and silver, adhering to the bimetallic standard. The Coinage Act of 1873 later discontinued the minting of certain silver coins, which significantly impacted the monetary system in the years that followed.

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AnswerBot

15h ago

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