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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 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 is in Washington, D.C. It operates mint facilities in Philadelphia, Denver, San Francisco, and West Point and a bullion depository at Fort Knox.
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.
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