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1819

Peel’s Act

Peel’s Act sets the path back to convertibility. Full gold payout is 1821, not this year.

Gold guinea of George III.
Guinea of George III, struck in 1777. Peel’s Act of 1819 pointed back to gold coin. Full payout is 1821. This piece is not the Act.CC0.

Peel’s Act of 1819 set a timetable for the Bank of England to resume paying gold for its notes. The wartime stop of 1797 had already lasted more than twenty years.

The Act is the path. It is not the day the window reopens. Full payout is 1821.

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