COINAGE OFFENCES. The coinage of money is in all States a prerogative of the Sovereign power ; consequently any infringement of that prerogative is always severely punished, as being an offence likely to interfere with the well-being of the State, and in fact was at one time high treason in Great Britain.
The statute law against offences relating to the coin was codi fied by the Coinage Offences Act, 1861 [England] which provides that whoever falsely makes or counterfeits any coin resembling or apparently intended to resemble or pass for any current gold or silver coin of the realm, or gilds, silvers, washes, cases over or colours with materials capable of producing the appearance of gold or silver a coin or a piece of any metal or mixture of metals, or files or alters it, with intent to make it resemble or pass for any current gold or silver coin, or who buys, sells, receives or pays a false gold or silver coin at a lower rate than its denomi nation imports, or who receives into Great Britain any false coin knowing it to be counterfeit, or who, without lawful authority or excuse, knowingly makes or mends, buy or sells, or has in his custody or possession, or conveys out of the Royal Mint any coining moulds, machines or tools, is guilty of felony. The pun ishment for such offences is either penal servitude for life or for not less than three years, or imprisonment for not more than two years, with or without hard labour. Whoever impairs, diminishes or lightens current gold or silver coin, with intent to pass same, is liable to penal servitude for 14 years, and who ever has in his possession filings or clippings obtained by im pairing or lightening current coin is Table to penal servitude for seven years. The statute also makes provision against tendering or uttering false gold or silver coin, which is a misdemeanour, punishable by imprisonment with or without hard labour. Pro vision is also made with respect to falsely making, counterfeit ing, tendering or uttering copper coin, exporting false coin, or defacing current coin by stamping names or words on it, and counterfeiting, tendering or uttering coin resembling or meant to pass as that of some foreign state. The Act of 1861 applies to offences with respect to colonial coins as well as to those of Great Britain. Making or selling medals or coins resembling current coin is made a misdemeanour by the Counterfeit Medal Act, 1883.
Counterfeiting in the United States is punishable under both Federal and State laws. Congress, under its Constitutional power to punish counterfeiting, has legislated against those who counter feit the coin, currency and securities of the Government, or at tempt to pass as valid such as have been counterfeited by others. Under its power to define and punish offenses of international law and its power to control interstate and foreign commerce, it also has legislated against the counterfeiting in the United States of foreign governmental, bank and corporation coins and securities.
State laws have been passed in all of the states penalizing the counterfeiters of state and other securities within the state, or the attempt to pass as valid such as have been counterfeited by others.