History of the U.S. Mints

Given enough time and technology, there could be a day in the future where money is no longer needed—but that day is not now and so the U.S. Mint plays a dominant role in the lives of humans, even if it is one people don’t think about much! Although you may not consider where your money comes from or how it came to be in your ordinary life, you can always take a moment out to learn more about the history of where your money came from and how the US mints came to be.

The Need for Respected Currency

Soon after the American constitution was ratified, the concern over coming up with a proper and recognized currency was raised. After all, coinage which is created in a country for that country is one of the prime signs of sovereignty and certainly the new American republic wanted that! In 1792, not even 20 years after American Independence was secured, the Coinage Act was passed, allowing America to create and use its own currency. But where would the mint be? Who would be in charge? What would the coins look like?!

Although the idea of creating new currency had been bounced around before this point; all the way back to 1776 in fact, when the Founding Fathers first discussed the need for new currency, it wasn’t until 1792 that the first mint was constructed in Philadelphia. This is because at the time, Philadelphia was the seat of the American government and as such, the mint and treasury had to be there as well. This first mint was the first government building to be erected under the new American government!

The first coins designed were made from gold, silver and copper. Gold coins were the most valuable and were named Eagles, half eagles or quarter eagles. Silver coins were the most common, as were dollars, half dollars, quarter dollars, dimes and half dimes. Pennies and half pennies were made from copper. The very first coins struck in 1793 were the silver half dimes, believed to have been made from silverware donated by George and Martha Washington. The first circulated coins were pennies made from copper.

The Long Run of the Philadelphia Mint Ends

The Philadelphia Mint remained the sole mint of the United States for close to forty years and saw through the burning of the Treasure in 1814 and several runs of yellow fever which closed down the mint in the summer and fall. However, in 1835, the need for money outweighed this Mint’s capacity and so several more were built. They were located in New Orleans, Charlotte (North Carolina), and Dahlonega, Georgia. Coins were now struck with mint marks to differentiate them: O for New Orleans, C for Charlotte and D for Dahlonega. These mints would last until 1861 and then would be closed again to be replaced in 1863 with a branch in Denver and in 1864 with a branch in San Francisco (Mint Marks ‘D’ and ‘S’ respectively). A smaller mint was also opened in Carson City (Mint Mark CC). It would eventually close down as well.

Coins Coins Coins!

The 1860s saw the introduction of the two cent and three cent coin, but they wouldn’t last for too terribly long. In 1874, the American Mint was allowed to produce foreign coins for other countries so long as the work did not interfere with the needs of America. Finally, in 1890, an act was passed that made it mandatory not to fiddle with a coin’s design for at least twenty five years, though as it turns out, this rule would later be broken. 1890 also saw the end of the gold dollar, three dollar gold and three cent nickel coins (what a shock).

The 1800s also saw an introduction into medal coins; coins which were struck specifically to commemorate a deed or an event. These would grow more prevalent into the 1900s with war coins, the Titanic coin and many others to commemorate events, people and deeds. They became collectibles and highly sought after, though their face value was rarely worth much more than any other coin of the same type.

Of course, this is just a quick history lesson into the US mints! There are lots of individual histories of different mints to consider, things like fires and disasters and the fact that women were often found in positions of power in mints in the 1800s, something that wasn’t commonly seen. Although we may think of mints as a place where money is made, they are also a part of history and as such, touch on a lot of things we now take for granted. We hope you’ll enjoy reading more about different mints and their history and how it all shaped up to form the creative power behind the currency you use every day.

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