Do you know what a mint is? Besides being a refreshing piece of candy, it's also the place where the U.S. Government makes our coin money (nickels, dimes, etc).
On April 2, 1792, the United States Congress passed The Coinage Act. This act created the U.S. Mint. It was the very first federal building constructed by the United States. It was built in the nation’s capitol, Philadelphia. Yes, Philadelphia was the first capitol of the United States. The capitol moved to Washington, D.C. in 1800.
In 1793, the Mint produced its first coins—11,178 copper cents. It soon began making gold and silver coins too. The Mint stopped making gold coins in 1933, during the Great Depression.
To make coins back in 1792, the Philadelphia Mint used horses to drive the machines. Metals were heated with a furnace and flattened into sheets. Coins were then punched out of these metal sheets. It was a very slow process. Today, with all the newest machinery, U.S. Mints (there are also Mints in Denver, San Francisco and West Point) often produce millions of coins in a single day. In the year 2000, the Philadelphia and Denver Mints produced 28 billion coins!
Paper Money
U.S. Mints don't produce paper money. That's the job of the Bureau of Engraving and Printing. It was started in 1861 and prints all of our different bills. It also prints our postage stamps.
How much money does this bureau print? Take a look!
| Year 2005 $1 $5 $10 $20 $50 $100 |
Number of bills printed 3,475,200,000 (that’s over three billion!) 576,000,000 512,000,000 3,059,200,000 345,600,000 668,800,000 |
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