History
The First U.S. Branch Mint in California is located at 608–619 Commercial Street, San Francisco, San Francisco County. The branch opened on April 3, 1854. Today the building houses the Pacific Heritage Museum.
Current facilities
There are four active coin-producing mints: Philadelphia, Denver, San Francisco, and West Point .
Functions
The Mint manages extensive commercial marketing programs. The product line includes special coin sets for collectors, national medals, American Eagle gold, silver and platinum bullion coins, and commemorative coins marking national events such as the Bicentennial of the Constitution. The Mint's functions include:
What Coins Does the Mint Make?
The Mint makes circulating coins for spending. When people and businesses use these coins as money, they are “ in circulation .” The denominations you’ll see the most are the penny, nickel, dime, and quarter. The Mint makes half dollars and dollars for collecting, but you can still spend them.
Circulating Coins
Fun Fact! The Mint makes more than 10 billion circulating coins a year. Cha-ching! It would take you 317 years to count all 10 billion coins.
What Else Does the Mint Make?
The Mint makes more than just circulating coins. Collectible coins are for people to save and collect. These coins sometimes look like circulating coins or have special designs honoring people or events.
Paper Money
American paper currency come in seven denominations: $1, $2, $5, $10, $20, $50, and $100. The Bureau of Engraving and Printing (BEP) manufactures paper money. It also redesigns money, with new appearances and enhanced security features. BEP includes security features to prevent counterfeiting.
Coins
The United States issues several denominations, with the most common being: 1¢, 5¢, 10¢, 25¢, 50¢, and $1. The U.S. Mint manufactures and circulates coins to pay for goods and services. It also issues collectible and commemorative coins for sale. These coins honor a person, place, or event.
Mutilated Money
If you have paper money that is extremely damaged, you can redeem it with the BEP. Examples of damaged paper money include:
Brian Calvert Active Member
Really makes me mad that I can go to a dealer locally, buy an Eagle for 3% above Spot, but cant get something at OUR own US mint at a reasonable price. Just ridiculous that an Eagle is $1770.00 right now while Spot is 1400.00
Brian Calvert Active Member
Have a 2nd question. If you are looking to price a gold coin quickly online, who do you use ?
medoraman Supporter! Supporter
Are proof eagles only 3% above spot? I am asking, since I am guessing you are talking about proofs, since the mint does not sell bullion coins to collectors.
Two Dogs Well-Known Member
I think the US Mint is required to sell things with a markup that's enough to cover their costs of production. Then in the aftermarket world prices settle out, often to around the spot price of the metals in the coins. So, yes it is often possible to pay more when buying directly from the Mint than from a coin dealer.
NSP Well-Known Member
Have a 2nd question. If you are looking to price a gold coin quickly online, who do you use ?
harley bissell Well-Known Member
Have a 2nd question. If you are looking to price a gold coin quickly online, who do you use ?
Collecting Nut Borderline Hoarder
The Mint must sell at a profit, therefore they must cover all of their production and distribution costs, which are high to begin with. Then add in the markup for their profit. They produce it so they set the price. Sometimes mintage limits are placed on the coin so the lower the mintage the higher the markup to cover the cost per coin.
Antebellum period, 1835–1861
This photo from the Louisiana State Museum in the old U.S. Mint shows the original 1835 plans for the building by William Strickland. The Mint building retains this basic W-shaped design today.
Civil War and recommissioning, 1861–1879
The New Orleans Mint operated continuously from 1838 until January 26, 1861, when Louisiana seceded from the United States. On January 29, the Secession Convention reconvened at New Orleans (it had earlier met in Baton Rouge) and passed an ordinance that allowed Federal employees to remain in their posts, but as employees of the state of Louisiana.
A second chance, 1879–1909
An 1899-O Morgan dollar. Some of the most famous American coins, today they are the most widely available of the types produced in New Orleans.
The mint in the 20th and 21st centuries
By the early twentieth century, the U.S. Treasury had mints operating in New Orleans, Denver, San Francisco, and the main center in Philadelphia, which more than met the demand for minted money.
Overview
The United States Mint is a bureau of the Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce, as well as controlling the movement of bullion. It does not produce paper money; that responsibility belongs to the Bureau of Engraving and Printing. The first United States Mint was created in Philadelphia in 1792, and soon joined by oth…
History
The Massachusetts Bay Colony established a mint in Boston in 1652. John Hull was Treasurer and mintmaster; Hull's partner at the "Hull Mint" was Robert Sanderson. The historical marker reads:
The Hull Mint - Near this site stood first mint in the British colonies of North America. Prior to 1652, the Massachusetts financial system was based on bar…
Current facilities
There are four active coin-producing mints: Philadelphia, Denver, San Francisco, and West Point.
The Mint's largest facility is the Philadelphia Mint. The current facility, which opened in 1969, is the fourth Philadelphia Mint. The first was built in 1792, when Philadelphia was still the U.S. capital, and began operation in 1793. Until 1980…
Functions
The Mint manages extensive commercial marketing programs. The product line includes special coin sets for collectors, national medals, American Eagle gold, silver and platinum bullion coins, and commemorative coins marking national events such as the Bicentennial of the Constitution. The Mint's functions include:
• Producing domestic, bullion and foreign coins;
Mintmarks
With the exception of a brief period in 1838 and 1839, all coins minted at U.S. branch mints prior to 1908 displayed that branch's mintmark on their reverse. Larger denominations of gold and silver coins were labeled with the Dahlonega, Charlotte, and New Orleans mintmarks (D, C, and O, respectively) on the obverse (front) side, just above the dates, in those two years. Carson City, which serve…
See also
• American Arts Commemorative Series medallions
• Bullion
• Bullion coin
• Coins of the United States dollar
External links
• Official website
• U.S. Mint in the Federal Register