Learn About the History of the U.S. Mint
When our Founding Fathers authored the U.S. Constitution and created a new government for their new republic, they understood the critical need for a stable, respected monetary system. After the Constitution’s ratification, Secretary of the Treasury Alexander Hamilton personally crafted plans for a national mint. On April 2, 1792, Congress passed The Coinage Act, which founded the United States Mint and authorized the construction of a mint building in Philadelphia, at that time our nation’s capital. The new mint was the first federal building constructed under the Constitution.
President George Washington appointed David Rittenhouse, a respected American scientist, as the first Director of the mint. Under his leadership, the mint produced its first circulating coins. The delivery of the initial 11,178 copper cents took place in March 1793. The U.S. Mint began issuing gold and silver coins shortly thereafter.
U.S. Mints
Throughout its history, the United States Mint has had branches all over the country, from Carson City, Nev., and Charlotte, N.C., and several cities in between. There was even once a branch of the U.S. mint established in Manila, Philippines, which was at that time a U.S. colony. To this day, the Manila Mint is the only U.S. Mint location established outside the continental United States. Today, there are just four mint facilities: Philadelphia, Denver, San Francisco, and West Point, N.Y. The mint is headquartered in Washington D.C. and has a bullion depository in Fort Knox, Ky., but neither of those offices produces coins.
Historic Closed Mints
Closed U.S. mints refer to former United States Mint facilities that are no longer operational. These mints played significant roles in the nation’s history, producing coinage for circulation and commemorative purposes. Examples include the Carson City Mint in Nevada, which operated from 1870 to 1893 and then briefly from 1899 to 1933, and the Dahlonega Mint in Georgia, which operated from 1838 to 1861. These closed mints often hold historical significance and are sometimes preserved as museums or historic sites.
Carson City Mint, Nevada
The Carson City Mint, located in Nevada, operated from 1870 to 1893, with a brief reopening from 1899 to 1933. It was established to serve the booming silver mining industry in the area, particularly the nearby Comstock Lode. The mint primarily produced silver coins, including Morgan dollars, Seated Liberty dollars, and other denominations.
The “CC” mint mark is synonymous with coins produced at this mint.
Dahlonega Mint, Georgia
The Dahlonega Mint, located in Georgia, operated from 1838 to 1861. It was established to mint gold coins from the rich gold deposits discovered in the region, particularly during the Georgia Gold Rush. The mint produced primarily gold coins, including Quarter Eagles ($2.50 denomination), Half Eagles ($5 denomination), and Gold Dollars ($1 denomination).
Coins minted at the Dahlonega Mint are identified by the “D” mint mark, which distinguishes them from coins produced at other mints.
New Orleans Mint, Louisiana
The New Orleans Mint, located in Louisiana, operated from 1838 to 1909. It was established to serve the growing economy of the southern United States, particularly the booming trade along the Mississippi River. The mint primarily produced silver and gold coins, including silver dollars, Half Eagles ($5 denomination), and Double Eagles ($20 denomination).
Coins minted at the New Orleans Mint are identified by the “O” mint mark, distinguishing them from coins produced at other mints.
Manila Mint, Philippines
The Manila Mint, also known as the Casa de Moneda de Manila, was established in the Philippines during the Spanish colonial period. It was officially inaugurated in 1857 and served as the primary minting facility for the Spanish East Indies. With the outbreak of the Spanish-American War in 1898 and American colonization, the mint’s significance declined. Following the American occupation, the mint continued to produce coins briefly under American supervision before closing in 1920.
These coins bore the mint mark “M” to denote their origin from the Manila Mint.
U.S. Mint Responsibilities
The U.S. Mint is responsible for much more than just producing the coins we use daily. It also produces special coinage and congressional gold medals. Further, it safeguards and controls the movement of bullion and the disbursement of gold and silver for authorized purposes. Lastly, the mint must distribute coins from the various mints to Federal Reserve Banks.
It is in the special coins that APMEX takes a particular interest. The United States Mint manufactures a range of products including gold, silver, and platinum coins. The value of these coins depends on their precious metal content as well as numismatic factors like the year, artwork, mintage, and historical significance. Among the most popular gold and silver coins from the U.S. Mint are the Silver and Gold Eagles. Each of these coins features iconic artwork depicting Lady Liberty, an image beloved by coin enthusiasts all over the world. These silver and gold coins also bear a scene featuring the American bald eagle, one of the most powerful symbols of American greatness. While the designs of the gold and silver coin differ, they are both beautiful, poignantly highlighting the patriotism and strength we treasure as Americans.
APMEX is one of 11 select companies that have been approved as an Authorized Purchaser of gold, silver and platinum from the U.S. Mint.
