The Mint Act refers to legislation passed in the United States in 1792 that established the country's monetary system. It created the U.S. Mint, which is responsible for producing coins, and defined the dollar as the standard unit of currency. The act also set the specifications for various coins, including their weight and metal content, ensuring a consistent and reliable currency. Additionally, the Mint Act authorized the issuance of gold, silver, and copper coins, promoting the use of metal currency in everyday transactions. This legislation laid the foundation for the modern banking system and helped stabilize the economy by providing a uniform medium of exchange.