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 Philadelphia It operates mint facilities in Denver, San Francisco, and West Point and a bullion depository at Fort Knox. There used to be mints in Carson City and Washington DC.
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.
Read more about United States Mint: History, Functions, Mintmarks
Famous quotes containing the words united states, united and/or states:
“Printer, philosopher, scientist, author and patriot, impeccable husband and citizen, why isnt he an archetype? Pioneers, Oh Pioneers! Benjamin was one of the greatest pioneers of the United States. Yet we just cant do with him. Whats wrong with him then? Or whats wrong with us?”
—D.H. (David Herbert)
“United Fruit... United Thieves Company... its a monopoly ... if you wont take their prices they let your limes rot on the wharf; its a monopoly. You boys are working for a bunch of thieves, but I know it aint your fault.”
—John Dos Passos (18961970)
“So the brother in black offers to these United States the source of courage that endures, and laughter.”
—Zora Neale Hurston (18911960)