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US Mint

The United States Mint is responsible for producing and circulating coinage for the United States to conduct its trade and commerce.

The Mint was created by Congress with the Coinage Act on April 2, 1792, within the Department of State, located in Philadelphia. It was the first building of the federation raised under the Constitution. Its first director was the scientist David Rittenhouse. Henry Voight was the first Superintendent and Chief Coiner, and is credited with some of the very first coin designs. Another important position at the Mint is that of Chief Engraver, which has been held by such men as Frank Gasparro, William Barber, Charles E. Barber, James B. Longacre, Christian Gobrecht and Anthony C. Paquet, among others. George T. Morgan was also an engraver at the Mint responsible for designing an important silver dollar. The Mint was made an independent agency in 1799, and under the Coinage Act of 1873, became part of the Department of the Treasury. It was placed under the auspices of the Treasurer of the United States in 1981.

With the creation of the Mint, the U.S. adopted the decimal coinage system. Before this, the accepted standard was the Spanish silver dollar with its fractional pieces of eight, but English pound, shilling and pence coins were also in use. Benjamin Franklin, Thomas Jefferson and Alexander Hamilton had all strongly argued for the adoption of the decimal system.

 

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