A History of the US Mint

The Need for a National Mint

The United States Mint was born on April 2nd, 1792 when President George Washington signed the Mint Act. For the first time a national mint that would produce a national coinage was authorized, easing interstate commerce and further linking the still disjointed states into a true nation.

Robert Morris was in many ways the father of the US Mint. A wealthy and successful merchant, Morris is often considered the financier of the Revolution and played a critical role in keeping the Revolution supplied and the fledgling government afloat. He was also accused of using the war to line his own pockets, but his service during the war and in the early years of the nation was indispensable.

In 1781 Morris was appointed to be Superintendent of Finance. During his time as head of the Finance Office Morris first proposed the idea of an American Mint with a unique American coinage. At the time Spanish currency was the standard, English and other foreign money was also in use. Under the Articles of Confederation states were also allowed to mint their own currency, based on standards supplied by the central government.

For Morris, the need for a truly national standard for money was a necessity. A national coinage that would do away with the confusing myriad of coinage in circulation at the time. Fortunately for Morris he had friends in this endeavor, most notably Thomas Jefferson and Alexander Hamilton, the first Secretary of the Treasury.

Morris, along with Jefferson and Hamilton, fought for ten years to create a national mint that would service the country's monetary needs. It is for the most part from his hard work that the US Mint finally came to fruition in 1792.

The Philadelphia Mint

Philadelphia was still serving as the nation's capital in 1792, and it was here that the first mint was built. Construction was completed by the end of the year, and production of coins began in 1793. To this day the mint in Philadelphia still serves as the primary national mint, although it has been joined by a number of others over the years.