United States Mint

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Bureau of the Department of the Treasury responsible for producing coinage

The United States Mint is a bureau of the United States Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce. The Mint was created by the Coinage Act of 1792 and originally placed within the Department of State. It was made an independent agency in 1799 and became part of the Department of the Treasury in 1873.

History

The United States Mint was established by the Coinage Act of 1792, and the first mint building was in Philadelphia, then the capital of the United States. The Mint's first director was David Rittenhouse, and the first coins were struck in 1793. The Mint has since expanded to multiple facilities across the country.

Facilities

The United States Mint operates several facilities, each serving different functions:

• Philadelphia Mint: The original mint, it produces coins, medals, and dies.
• Denver Mint: Produces coins and stores gold and silver bullion.
• San Francisco Mint: Primarily produces proof coinage.
• West Point Mint: Produces gold, silver, and platinum bullion coins and commemorative coins.
• Fort Knox: Stores a large portion of the United States' gold reserves.

Functions

The primary functions of the United States Mint include:

• Producing an adequate volume of circulating coinage for the nation to conduct its trade and commerce.
• Manufacturing, selling, and marketing numismatic products (including proof, uncirculated, and commemorative coins).
• Manufacturing and selling national medals.
• Safeguarding and controlling the movement of bullion.
• Disbursing gold and silver for authorized purposes.
• Distributing coins from the various mints to Federal Reserve Banks.

Coinage

The Mint produces all denominations of circulating coins, including the penny, nickel, dime, quarter, half dollar, and dollar coin. It also produces bullion coins, such as the American Gold Eagle, American Silver Eagle, and American Platinum Eagle.

Directors

The Mint has had numerous directors since its inception. The current director is Ventris C. Gibson, who oversees all operations of the Mint.

See also

• Coinage Act of 1792
• United States Department of the Treasury
• Federal Reserve
• American Gold Eagle
• American Silver Eagle
• American Platinum Eagle

Related pages

• Philadelphia Mint
• Denver Mint
• San Francisco Mint
• West Point Mint
• Fort Knox
• Coinage Act of 1792
• United States Department of the Treasury
• Federal Reserve

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