U.S. Mint History
Inside This Report
1799, discoveries of Gold had been made in North Carolina and
some twenty years later Gold mining was a big industry. The U.S. Mint in Philadelphia was a long, treacherous distance
away from the southeastern Gold fields.
were no more than primitive Indian trails filled with outlaws
making it almost impossible for miners in the southeast to
transport their raw Gold to the U.S. Mint for conversion into
official U.S. Gold Coins.
Mint of Christian Bechtler
About the time of the greatest gold production, 1831, Christian
Bechtler, a jeweler by trade, who lived near Rutherfordton,
North Carolina, proposed to the miners that he coin their Gold
for a small percentage. This would save the miners a
fortune in time and avoid the risks of sending their gold to
quantity of Gold was coined into $1, $2.50, and $5 pieces, with
the name of C. Bechtler, Rutherfordton, North Carolina, on one
side, and on the other side, the value, number of grains, and
carat fine. It was not long until the Federal government
instituted an investigation into the Bechtler operations. The investigation disclosed that the assay value of the Bechtler
coins were in all instances equal, and in some cases greater
than the denominational value.
mint was allowed to continue and Christopher Bechtler continued
to operate his minting and coining business.
U.S. Mint History
Current day mints operate the most modern machinery for the manufacture of
coins, a marked contrast to the early methods of coining money. The
melting departments used coal burning furnaces to smelt the raw Gold and
Silver into 90% fine coinage.
design of a Gold Coin was approved, the mint staff proceeded to
prepare dies made by covering the surface of the die with a
thick coating of transfer wax, which, when pressure was applied,
transferred the tracing which was in pencil. When the
model of the coin was made it was placed on a lathe and reduced
to the size desired for the coin.
The die was
approved, then hardened and tempered ready to produce the coins. The Gold ingots varying in sizes and weights were received from
the smelter and then broken down into oblong pieces of Gold
Strips, by passing the metal through heavy rollers.
Eagles and Eagles were passed through the finishing rollers
three times. Half Eagles and Quarter Eagles were passed
through the rollers four times. The Gold strips were then
taken to cutting presses where the blank Gold pieces were cut to
the desired size and weight, then pressed and later transformed
into Gold Coins by having the insignia of the United States
government and the design of the coin stamped upon it.
In 1782, Thomas Jefferson,
than a member of the House of Representatives, recommended a Dollar Unit of
Exchange, because it was already at that time familiar to most people and a
In 1785, the Grand
Committee recommended a Five Dollar Gold Piece. In 1791, Alexander Hamilton,
then Secretary of the Treasury, accepted the decimal subdivisions of the
dollar, and endorsed its use in Gold as our standard money.
The Philadelphia Mint
On March 3, 1791, the United States Congress, by the passing of a resolution
directed that a mint be established. President Washington did not act upon
these recommendations until April of 1792. The Gold Coins authorized
by the government were as follows:
|Gold Eagle Value
||Std. Grains 270
|Gold Half Value
||Std. Grains 135
|Gold Quarter Eagle Value
|| 61-7/8 pure
||Std. Grains 67-4/8
George Washington appointed a well known scientist, David Rittenhouse, as
the first director of the U.S. Mint. A mint building was under construction
within a few months in Philadelphia, Pennsylvania, located at Seventh and
Sugar Alley (now Filbert Street). It was a three story building and
bore the familiar sign painted on the building between the second and third
floors, “Ye Old Mint”.
The first deposit of gold
ingots made in “Ye Old Mint”, came from a Boston merchant by the name of
Moses Brown, on February 12, 1795. The amount was reported as
$2,275.22. The first gold coins were delivered to the mint by the U.S.
Treasurer, July 31, 1795, and the shipment contained 744 half eagles. Speculators in the early days soon hoarded and reduced from circulation most
of the first Gold Coins. The Philadelphia Mint, now rebuilt, is still in
Operation although no Gold Coins have been produced since 1931.
Dahlonega, Georgia Mint
The Dahlonega Mint
was authorized by Act of March 3, 1835, with first coinage in 1838. Coinage
of Gold was suspended in 1861 due to the Civil War and never resumed. The building passed out of government possession in 1871.
$6,115,569 in gold coins
were produced in this mint. The total amount of gold reported mined in
the area was approximately $18 Million Dollars. The mint building was
donated to the State of Georgia purposes on April 29, 1871, but was
destroyed by fire, December 20, 1878.
The Dahlonega Mint produced 75,529 - $1 Gold Coins; 197,859 $2.50 Gold Coins;
in 1854, there were 1,120 - $3 Gold Coins produced, and a total of 1,107211
- $5 Gold Coins produced. There were many other Gold Coins reported
coined in this mint, but not on record. Many people believe that a
large quantity of these coins were buried and never recovered.
Charlotte, North Carolina Mint
The Charlotte Mint was
authorized by the Act of March 3, 1835. Coinage operations were
conducted there from 1838 through May 20, 1861.
The operations were
discontinued due to the Civil War and never resumed. The mint property was
reopened as an assay office in 1868, and ceased operations June 13, 1913,
when the plant was closed.
New Orleans, Louisiana Mint
The New Orleans
Mint was authorized by the Act of March 3, 1835. It first produced
coins in 1838. Operations were suspended from 1861 to 1879, however,
it continued its assay operations from 1876.
Coinage resumed in 1879,
and continued until 1909. It operated as an assay office from 1909
unit 1942, when it was permanently closed. At one time this mint was
used as a federal prison. This mint also was taken over by the
Confederate Army During the Civil War and some Confederate coins were
San Francisco Mint
The San Francisco
Mint was established by authorization of the Act of July 3,1852. The
first coinage was recorded in 1854. Coinage
operations were suspended in 1955, but the mint continued to operate as an assay office.
The name was officially changed from “Mint” to “Assay Office”
on July 11, 1962.
The Denver Mint
Denver Mint was authorized by the Act of April 21, 1862, and it operated as
an assay office until 1906. Coinage operations were started at the
Denver Mint in 1906, and the mint is still in operation. Many of the
new Statehood Quarters and small circulating coins are minted by the
millions each year at the Denver Mint
The Carson City Mint
The Carson City
Mint was authorized by the Act of March 3, 1863. Coinage operations started
in 1870 and lasted through 1893. The mint then operated as an assay
office until 1933 when it was closed.
The Carson City Mint issued 57 different types of Gold Coins. In
addition to the many millions of dollars in Gold Coins produced at
this mint, it also received many millions of dollars in Gold Bullion which
it converted into Gold Bars shipping them to the mint at San Francisco for
coinage. After this mint was closed by the government, the building
was allowed to run down with floors and roof rotten, to the extent that
repairs were not feasible.
The U.S. government then placed this property on the market for sale and it
was purchased by the State of Nevada in 1939 for $10,000. It was
renovated and opened to the public by the State in October, 1941, as a State
Museum and Art Institute. The mining industry of Nevada donated an
entire new copper roof for this building at a cost of about $4,000.
Today, Carson City coins are among the rarest and most beloved U.S. Coins
and highly prized for their "CC" mint marks.
To purchase coins from any of these mints, call 1-800-928-6468 to speak to a
Rare Coin Specialist from Austin Rare Coins & Bullion.