On April 2, 1792, the Coinage Act was signed into law by the United States Congress — a landmark piece of legislation that brought the nation's first official mint to life in Philadelphia, which served as the capital of the United States at the time. The driving force behind the act was a pressing need to bring order to American currency, replacing the hodgepodge of foreign and colonial coins that people were using in everyday transactions.

To lead this ambitious new institution, President George Washington tapped scientist David Rittenhouse as the Mint's inaugural Director. Rittenhouse wasted no time, securing a property at Seventh and Arch Streets where construction got underway in July 1792. Remarkably, the facility was up and running by September, featuring a smelting house, a horse-powered mill house, and a three-story brick structure. With that, the site earned a notable distinction: it was the first federal building erected under the Constitution.

The denominations laid out in the Coinage Act spanned three metals: copper (half cent and cent), silver (half dime, dime, quarter, half dollar, and dollar), and gold (quarter eagle [$2.50], half eagle [$5], and eagle [$10]). The Mint's first batch of circulating coins — 11,178 copper cents — rolled out in March 1793. Silver coins followed in 1794, with gold coins arriving in 1795.

Over the centuries since its founding, the Philadelphia Mint has gone through a series of significant transformations:

  • Second Mint (1833–1901): Growing demand for coinage necessitated a bigger home, and a larger facility nicknamed the "Grecian Temple" rose at Chestnut and Juniper Streets.
  • Third Mint (1901–1969): Situated at 1700 Spring Garden Street, this stunning Beaux-Arts building brought modern coining technologies together with impressive architectural designs.
  • Current Mint (1969–Present): The fourth and final Philadelphia Mint opened its doors at 151 North Independence Mall East, claiming the title of the world's largest mint. To this day, it continues turning out coins, medals, and other numismatic items.