Created by the Coinage Act of 1792, the United States Mint is responsible for producing America’s circulation coinage, bullion products, commemorative coins, and congressional medals at no cost to taxpayers. This process began with harnessed horses driving crude machinery and has transitioned to today’s highly-automated process that can produce millions of coins each day.
On April 2nd, the US Mint will celebrate its 226th anniversary. That’s over 200 years of minting history! And it all started with the founding fathers of our nation.
As our new government was being created after we achieved independence, America’s founding fathers recognized the need for establishing a monetary system. In 1792, Congress passed the Coinage Act, which authorized the construction of a mint in Philadelphia. By 1793, the first coins were struck at the mint using the Washingtons’ old silverware.
Over the years, the mint went through many changes and oversaw the emergence and creation of some of the world’s most beautiful coins. One notable date for investors in 1986, when the first American Gold Eagle was struck, followed by the Silver Eagle a month later. The Eagle coins remain one of the most popular lines of investment-grade bullion coins, sought out by investors and collectors around the globe.
The mint’s popularity led to the creation of its six current locations, which employ over 1,500 people. Gold, Silver, and Platinum Eagles are produced at the West Point, NY location. Tours are available at the Philadelphia and Denver locations.
The Provident staff, as well as many of our customers, simply love the designs that come from the US Mint. Eagle coins, Gold Buffalos, and the America the Beautiful series are just a few of the memorable products that are produced there. In fact, many collectors and investors from around the world seek out the quality products made at the US Mint.
It’s a few days early, but we didn’t want to miss the chance to wish the folks at the mint a happy anniversary. We look forward to seeing everything the mint has in store for many more years to come!