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The United States Mint primarily produces circulating coinage for the United States to conduct its trade and commerce. The Mint was created by Congress with the Coinage Act of 1792, and originally placed within the Department of State. Per the terms of the Coinage Act, the first Mint building was in Philadelphia, then the capital of the United States; it was the first building of the Republic raised under the Constitution. Today, the Mint’s headquarters are in Washington D.C. which is not a coin producing facility. It operates mint facilities in Philadelphia, Denver, San Francisco, and West Point, New York and a bullion depository at Fort Knox, Kentucky. Official Mints (Branches) were once also located in Carson City, Nevada, Charlotte, North Carolina, Dahlonega, Georgia, New Orleans, Louisiana, Washington, D.C.; and even in Manila, in the Philippines. The Mint was made an independent agency in 1799. It converted precious metals into standard coin for anyone’s account with no seigniorage charge beyond the refining costs. Under the Coinage Act of 1873, the Mint became part of the Department of the Treasury. It was placed under the auspices of the Treasurer of the United States in 1981. Legal tender coins of today are minted solely for the Treasury’s account.

About the author 

Nathan Tarrant

Nathan has worked in financial services, marketing, and strategic business growth for over 30 years, as well as working in internet marketing since 1998.

In 2008 after the financial crash, Nathan operated as a financial & investment advisor to delegates of the United Nations, the World Health Organization, and senior managers of Fortune 500 companies in Geneva, Switzerland.

He started Gold Trends as he enjoys working with alternative investments, having advised on them in the past.

Please note: Nathan is no longer a financial or investment advisor. The information he shares on this site is purely for education and information purposes only. You can read more on the About page.

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