Mint Condition

in
No votes yet

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 

   
 

Syndicate content

VantageCU Twitter Feed

  • Some of these may seem like common sense but it's surprising how many folks do fall victim to these types of scams. http://t.co/6hobSSbm 18 hours 57 min ago
  • @lauraheying Awesome, and, welcome! 3 days 17 hours ago
  • New report: 5.6 mil bank customers switched in the last 90 days, with 610,000 citing Bank Transfer Day as their reason. http://t.co/po3SfUs8 4 days 18 hours ago
  • View the 2012 Olympic games in person! Every swipe of your Vantage Visa debit or credit card through 4/30 is an entry! http://t.co/ID0Sw3Wk 4 days 23 hours ago
  • Super Bowl snacks...will you choose healthier options or stick with the buffalo dip and tortilla scoops? http://t.co/pfRd3DTe 5 days 23 hours ago

test