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, New York and a
bullion depository at
Fort Knox, Kentucky. Mints were once located also in
Carson City, Nevada and
Washington, D.C. 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.