The Franklin Mint History Of The United States, 1776-1973
Manufacturer
The Franklin Mint
DateNo Date
MediumSilver
DimensionsOverall: 1 3/4 in. (45 mm.)
ClassificationsDecorative arts
Credit LineGift of Dr. Eugene F. Poutasse
Object number76.81.17
On View
Not on view7The 1792 medal: First U.S Mint Established
For a country to have its own coinage is and indication of national sovereignty. Prior to the establishment of the United States Mint, as well as for some years afterward, many of the coins in circulation were worn or debased European and Mexican coins. Following Alexander Hamilton's report on the Mint (January 28, 1791), an act to establish a Mint was enacted on April 2, 1792. A feature of the Act was decimal coinage, a concept that has since become widely accepted throughout the world.
The Mint was to be located at the seat of government which was then Philadelphia. When the capital was moved to Washington the mint remained behind to the apparent confusion of many people who continue to write to the U.S Mint at Washington, D.C. During its first years, the Mint was a part of the Department of State, under Jefferson, instead of the Treasury, which already had enough agencies for Hamilton to handle, including the Post Office.
David Rittenhouse, astronomer and philosopher, was appointed first Director on April 14 by President Washington. On July 18 the United States obtained land at 7th and Market Streets, Philadelphia, and immediately began erecting a suitable building. The early years of the Mint were difficult - a lack of skilled workmen, equipment, good steel for dies and metal for coinage, plus yearly closings because of yellow fever; for a time there was a possibility that the Mint might be discontinued and the coins made in England.
There are several 1972 pattern coins of which the half disme is considered more or less an issue for circulation. Washington supplied the silver for its coinage and in his address to Congress said, "There has been a small beginning in the coinage of half dismes, the want of small coins in circulation calling the first attention to them."
