The Mint is the world’s largest coin manufacturer. Today, the Mint enables America’s economic growth and stability by protecting assets entrusted to us, manufacturing coins to facilitate national commerce, and producing and selling coins and medals to the public as numismatic items. Learn more about the Mint’s history here. In 1795, the Mint became the first Federal agency to employ women when Sarah Waldrake and Rachael Summers were hired as adjusters. In March 1793, the Mint delivered its first circulating coins – 11,178 copper cents. That same Coinage Act specified the following coin denominations: a copper cent and half cent a silver dollar, half dollar, quarter, dime, and half dime and a gold eagle ($10), half eagle ($5), and quarter eagle ($2.50). It was the first Federal building erected under the Constitution.Ĭoin production began immediately. Rittenhouse bought two lots at 7th and Arch Streets to build a three-story facility, the tallest building in Philadelphia at the time. President George Washington appointed a leading scientist, David Rittenhouse, as the first director. Congress chose Philadelphia, which was then the nation’s capital, as the site of our first Mint.
In 1788, the Constitution was ratified by a majority of states, and discussions soon began about the need for a national mint. was initially governed by the Articles of Confederation, which authorized states to mint their own coins. While the Philadelphia Mint is one of several official United States coin manufacturing facilities, it remains the heart of coining operations in the nation and is also one of the most popular attractions in "The City of Brotherly Love.During the Colonial Period, monetary transactions were handled using foreign or colonial currency, livestock, or produce. Growing from its humble beginnings as a collection of small buildings in the nation's onetime capital city of Philadelphia, the United States Mint now stands along Independence National Historical Park as the largest coin factory in the world. Following calls by Alexander Hamilton and other Founding Fathers for the nation to issue its own money, Congress passed legislation to officially establish the United States Mint in 1792. While the Philadelphia Mint is one of several official United States coin manufacturing facilities, it remains the heart of coining operations in the nation and is also one of the most popular attractions in "The City of Brotherly Love"."-Back cover.īook Synopsis As the ink was drying on the Declaration of Independence, the Constitution, and other documents that established the United States, millions of Americans hungered for new legal tender coinage from the young sovereign nation.
About the Book "As the ink was drying on the Declaration of Independence, the Constitution, and other documents that established the United States, millions of Americans hungered for new legal tender coinage from the young sovereign nation.
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