Harnessed horses were used to drive the machinery and press the die into the blank coin. Coin blanks, known as planchets, were punched out of the sheets then fed into the large screw press that held the die stamps. Screw Press: Metals were heated to the proper smelting temperature and flattened into sheets by passing them through rollers multiple times. Here is a brief history of different U.S. In 1792, minting coins wasn’t nearly as efficient of a process as it is today. Mint as long as it has been in existence. Producing Gold coins and Silver coins, among other Precious Metals products, has been the responsibility of the U.S. Mint also produces commemorative Gold coins that honor important people, places and events from United States history. In 2008, the mint began offering its Gold Buffalo coins as their first 1 oz. Mint announced its first Gold bullion series with the Gold American Eagle, at the same time introducing the Silver American Eagles as well. In 1974, the United States reinstated the ability to legally own Gold bullion. Mint again produced Gold and Silver coins, though not for circulation. It wasn’t until the introduction of the American Eagle series in 1986 that the U.S. All Silver was removed from circulating half dollars starting in 1971. Similarly, President Lyndon Johnson approved the Coinage Act of 1965, removing Silver from circulating dimes and quarters and reducing the purity of half dollars from 90% to 40%. The Gold Reserve Act of 1934 removed Gold from circulation in the United States and made it illegal to own most Gold bullion. Mint produced Gold coinage used as legal tender. The value of these coins depends on their purity as well as numismatic factors like year, artwork and historical significance.īetween 18, the U.S. The United States Mint has manufactured a range of products, including Gold coins and Silver coins, since its founding with the Coinage Act of 1792, and more recently began producing Platinum coins and Palladium coins as well.
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