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United States Mint (US Mint)
- The United States Mint at Philadelphia, Pennsylvania - This location handles all the engraving and manufacturing of coin and medal dies. It is also responsible for the production and circulation of some commemorative coins.
- The United States Mint at Denver, Colorado - From its location in the Mile High City, the Denver Mint mainly produces coins designed for circulation.
- The United States Mint at San Francisco, California - Around since the California Gold Rush, the San Francisco Mint now produces proof coins for numismatic collectibles in addition to some commemorative coins.
- The United States Mint at West Point, New York - Dealing in large quantities of Precious Metals, the U.S. Mint at West Point manufactures Gold, Silver and Platinum bullion in addition to proof and uncirculated coins. It also strikes some commemorative coins.
- The United States Bullion Depository at Fort Knox, Kentucky - While this U.S. Mint is not a production facility, it plays the essential role of storing Precious Metals bullion reserves for the United States.
Previous official mint branches were located in Carson City, Nevada, Charlotte, North Carolina, Dahlonega, Georgia, New Orleans, Louisiana and Washington D.C.
In the years between 1838 and 1933, the U.S. Mint produced Gold coinage that was used as legal tender. The Gold Reserve Act of 1934 removed Gold from circulation in the United States and made it illegal to own Gold bullion. Even now, these historical Pre-1933 coins are wildly popular and highly prized as beautiful collectibles with a great deal of numismatic value.
In 1974, the United States reinstated the ability to legally own Gold bullion. Just 12 years later, the U.S. Mint announced its first Gold bullion series with the Gold American Eagle. These Gold coins have been in high demand ever since, which inspired the United States Mint to begin offering its Gold Buffalo coins as the first 1 oz .9999 fine Gold coins from the U.S Mint. Now, every year, the U.S. Mint produces commemorative Gold coins that honor important people, places and events from United States history.
Popular U.S. Mint ProductsThe United States Mint manufactures a range of products including Gold coins, Silver coins and Platinum coins. The value of these coins depends on their purity as well as numismatic factors like year, artwork and historical significance.
- Gold American Eagles
- Gold Buffalos
- Gold Presidential Commemoratives
- Gold First Spouse Commemoratives
- Silver American Eagles
- Silver America The Beautiful
- Silver Dollars
- Silver Commemoratives
- Platinum Eagles
Since its initial minting in 1986, the most popular U.S. Gold coin has been the highly valued Gold American Eagle, but that is not to say that Gold Buffalos, U.S. Silver Dollars, Platinum American Eagles or Silver Eagles do not have avid collectors. Beyond their value and purity, U.S. coins are also treasured for their versatility: Gold coins from the U.S. Mint are available as small as 1/10 oz and as large as 1 oz.
As collectors decide whether they should buy Gold U.S. coins or buy Silver U.S. coins and in which size, it’s important to point out the larger coins generally have a lower premium per troy ounce of Gold and Silver content.
History of the U.S. MintThe United States Mint was founded with the Coinage Act of 1792. It created the Philadelphia Mint – the first public building chartered by the federal government – and declared that all money in the United States was to be made from Gold, Silver and Copper. Different denominations were minted from different Precious Metals.
Minted from Gold:
- Double Eagles
- Half Eagles
- Quarter Eagles
Minted from Silver:
- Half Dollars
- Half Dimes
Minted from Copper:
- Half Cents
Of course, U.S. coins in circulation today do not have this same Precious Metals content. Until Franklin D. Roosevelt issued an executive order that forbid the possession of Gold by U.S. citizens in 1933, the U.S. Mint continued to produce Gold and Silver coinage. Indeed, using Precious Metals seemed to be on the downswing when it came to currency. In 1965, President Lyndon B. Johnson approved the Coinage Act of 1965, which removed Silver from circulating coins and in 1971, Richard Nixon took the United States off the Gold standard. It was not until the 1980s that the U.S. Mint started to again produce Gold coins.
Last Updated: 10/26/2016 3:40:33 AM ET
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