Philadelphia, PA
*Source: U. S. Department of the Treasury
The Philadelphia Mint was created from the need to establish a national identity
and the needs of commerce. This led America's founding fathers to make an establishment
of a continental national mint a main priority after the ratification of the Constitution.The
Mint Act of 1792 was entered into law on April 2. Within, it proclaimed the creation
of the United States Mint.
Philadelphia at that time was the nation's capitol; therefore the first mint facility
was to be built there. The Mint Act also instituted a decimal system based on a
dollar unit; specified weights, metallic composition and fineness; and required
each United States coin feature "an impression emblematic of liberty".
PHILIDELPHIA MINT: STARTING FROM SCRATCH
David Rittenhouse, a leading American scientist, was appointed the first Director
of the Mint by President Washington. Two lots were purchased by Rittenhouse on July
18, 1792, at Seventh Street and 631 Filbert Street in Philadelphia for $4,266.67.
The very next day demolition of an abandoned whiskey distillery on the property
began.Foundation work began on July 31, and by September 7, the first building was
ready for installation of the smelting furnace. The smelt house has gained the honors
of being the very first public building erected by the United States government.A
three-story brick structure facing Seventh Street was constructed a few months later.
Being the tallest and most visible structure of the mint the words "Ye Olde Mint"
were painted on. Measuring nearly 37 feet wide on the street, it only extended back
33 feet. The gold and silver for the mint was contained in basement vaults.
The first floor housed deposit and weighing rooms, along with the press room, where
striking coins took place. Mint official offices were on the second floor, and the
assay office was located on the third floor.Between the smelt house and "Ye Olde
Mint" a mill house was built. Horses in the basement turned a rolling mill located
on the first floor.January 1816 saw the destruction of the smelt and mill houses
from a fire. The smelt house was never repaired and all smelting was done elsewhere.
The mill house, which was completely destroyed, was soon replaced with a large brick
building. It included a new steam engine in the basement to power the machinery
above.Until 1833, these three buildings dutifully provided America with spendable
hard currency to undertake the exploration and growth of a nation. Operations moved
to the second Philadelphia Mint in 1833 and the land housing the first Mint was
sold. In the late 19th or early 20th century, the property was sold to Frank Stewart,
who approached the city asking them to preserve or relocate the historic buildings.
With no governmental help "Ye Olde Mint" was demolished between 1907 and 1911. A
small plaque now is the only thing memorializing the spot upon which the largest
economy to date was conceived.
MODERNIZING A UNITED STATES MINT
A mere two blocks from the site of "Ye Olde Mint", the fourth and current Philadelphia
Mint opened its doors in 1969. What it lacks in character from its predecessors,
it makes up for in security and production. Today's Mint can coin one million coins in thirty minutes,
compared to the first three years for "Ye Olde Mint". This mint also produces medals
and awards for military, governmental and civil services. Engraving of all dies
and strikers only occurs here. Uncirculated coins minted here have the "P" mintmark,
while circulated coins from before 1980 carried no mint mark except the Jefferson
nickels minted from 1942 - 1945. Since 1980, all coins minted there have the "P"
mintmark.Tours can be taken where all stages of minting are explained, along with
displays of past equipment.
Information taken from Wikipedia, the free encyclopedia.
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