Within the US Treasury Department, the US Mint produces all circulating US coins. It not only issues the four coin denominations currently in circulation (pennies, nickels, dimes, and quarters), but also medals of honor, collector-focused coins (like the half-dollar and $1 coin, which can also be accepted as legal tender), and more. Notably, it doesn’t produce paper money; the Bureau of Engraving and Printing handles that.
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You may have noticed that dimes and quarters feature small ridges on their sides that other coins, like pennies and nickels, don’t have. This video can help you learn more about why the practice, called “reeding,” was first started—and why it’s still used today.
While the US Mint at Denver makes circulating and collectible coins, the US Bullion Depository at Fort Knox stores much of the country's gold. Other locations include the San Francisco Mint, the Philadelphia Mint, the headquarters of the US Mint in Washington, DC, and the West Point Mint.
During the day, he flew around the city, but at night he slept soundly in the first-ever US Mint building. Although he died at some point in the early to mid-1800s, mint artists still study him today when designing new eagle imagery for coins. Luckily, that’s not too difficult, given that mint employees pitched in to stuff him at the time of his death.
This fortified vault, built in 1936, is part of the US Mint, but it doesn’t create any currency. Only a presidential order can open Fort Knox—there has not been an audit of its contents since 1953.
At the same time, the US also started producing the dollar, its first official currency. The US Mint has since issued coins throughout the country.
Waste facilities and TSA say they collect thousands of dollars of discarded money per year. A Wall Street Journal reporter visited a waste facility and learned what you can do with your extra change.
Also known as the “pound sterling,” the British pound is more than 1,200 years old. It dates back to around 775 CE, but it didn’t become the official currency of England until the 12th century. One pound originally represented a pound of silver. The below graphic shows some of the other oldest currencies still in use today.
It’s typically kept in the form of bars or ingots. Governments and central banks often keep bullion reserves on hand; they can use it as a hedge against inflation. One can invest in bullion via ETFs, among other financial vehicles.
In 1795, the US Mint hired two women, named Sarah Waldrake and Rachael Summers, as adjusters. At the time, adjusters weighed blank coins and “adjusted” those weighing too much by filing them down.
Some US Mint branches that are now inactive were established during gold rushes during times of great demand. These include mints in Dahlonega, Georgia, Charlotte, North Carolina, and Carson City, Nevada. This video dives into their respective stories.
The United States is home to more than 33 million businesses, the vast majority of which are small businesses, with millions being created (and others closing shop) every year. These businesses often rely on loans, provide the goods and services that keep the economy flowing, and sometimes even grow large enough to enter public markets or provide private investment opportunities. Explore key topics central to business and finance, from the role of the Federal Reserve to how initial public offerings work, how millions of American students finance higher education, and more.