A Brief History of The United Stated Mint on Their 225th Anniversary

Published on 02/28/2017 by APMEX

A Brief History of The United Stated Mint on Their 225th Anniversary

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 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 those initial 11,178 copper cents took place in March 1793. The U.S. Mint began issuing Gold and Silver coins shortly thereafter.

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 produce coins.

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 APMEX takes particular interest. The United States Mint manufactures a range of products including Gold coins, Silver coins and Platinum coins. The value of these coins depends on their Precious Metal content as well as numismatic factors like 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 on 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 who have been approved as an Authorized Purchaser of Gold, Silver and Platinum from the U.S. Mint. This direct relationship allows APMEX to offer customers competitive pricing, among other perks. Another perk is faster shipping times on new releases of United States bullion coins, including the 2017 Gold and Silver American Eagles.

We are pleased to offer 2017 Silver and Gold Eagles available for purchase now. When you add an Eagle to your collection or investment portfolio, you are adding not only a coin with great potential for appreciation, but part of our American history as well.

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