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Transcript of U.S Mint
The framers of the Constitution realized the need for a respected monetary system. Secretary of the Treasury Alexander Hamilton prepared plans for a national Mint.
The U.S Mint is the only manufacturer of legal coins. It is responsible for producing circulating coinage for our nation to conduct its trade and commerce. It also produces numismatic products. These include silver and gold bullion coins, congressional gold medals, proof, un-circulated, and commemorative coins. It does
produce Paper money!
The US Mint has its own police to help protect over $100 billion in Treasury and other government assets stored in 6 different facilitates in the US including the headquarters in Washington, DC. Twenty-four hours a day the Mint Police also protect 2,800 employes and thousands of visitors. "As secure as Fort Knox" is the standard established by this police force.
Artistic Infusion Program
The US Mint established the Artistic Infusion Program in 2003 to enrich and invigorate US coin and medal designs. The goal was to obtain artists of different backgrounds to help create new designs for coins and medals. The designs are intended to tell the story of America and represent our values now and in the future.
On April 2, 1792 Congress passed the
Coinage Act, which created the Mint and authorized construction of a Mint building in the Nation's capital, Philadelphia.
This was the first federal building erected
under the Constitution.
The U.S Mint's purpose is to produce and distribute an adequate volume of circulating coinage for the nation to conduct its trade and commerce as well as precious metals, collectible coins and national medals. It also provides its own security over all of its assets.
The U.S Mint benefits the public directly by
providing coinage for the public to use in purchasing goods and services.
The US Mint benefits the public indirectly by not taxing the people for its operational costs, but instead creates its own revenue through its numismatic programs that are self-sustaining.
Under the jurisdiction of the Department of Treasury the US Mint is a part of the Executive Branch. Together the Treasury and US Mint contribute to regulating government spending and production of currency.