1776
(July, 4th)
The coins that were circulating at the time included those from many other countries, as well as those from the “Mother” country of Great Britain. England had given very little thought or care to providing coins for use in the colonies and instead had allowed any and all specie from all over the world to circulate freely.
(September, 2nd)
Thomas Jefferson submits a report to Congress on the value of various coins, by decimal unit in dollars and parts of a dollar. (Believed to be the first attempt to use a decimal method for the Nation’s monetary system.)
1777
(February, 20th)
A Congressional committee recommends that a Mint be established. The Treasury Board is tasked to plan and regulate the Mint and its devices to be stamped on the coins. No follow-up action taken at this time due to the war with England, which would not be concluded until 1781. (Earliest known record of Congressional interest to establish a mint.)
1778
(July, 9th)
The Articles of Confederation give States the authority to strike their own coins. When the states finally began striking coins, they were of lower denominations in the form of copper cents.
1781
(May, 24th)
William Barton submits a report to Congress, suggesting a mint be established under the direction of Congress. He recommends that Congress alone should have the right to coin money.
1782
(January, 15th)
Robert Morris, Superintendent of Finance, reports to Congress, requesting authority to establish a mint. He recommends that the coining costs be paid by the people using its services. Morris commissions an engraver to prepare several denominations based on the decimal values of 1000.
1783
(April, 30th)
Gouverneur Morris sends a draft on coinage to the Honorable William Hensley, expounding his ideas for what type of coinage and the defraying of expenses in coining it. He also compares the current value of money in each of the states.
1784
(April, 26th)
Thomas Jefferson reviews Morris's 1782 report, responding with "Notes on Coinage", drafted in March and April. He agrees on the "decimal proportions", but feels the unit is too small for daily transactions and recommends the Spanish dollar (8 Reales), as the monetary unit. It's already in use and is a "convenient size" of measurement for "monetary arithmetic." At this time the Spanish colonial 2 Reales, along with it’s larger brethren the 8 Reales, are the most widely used denomination circulating in the fledgling United States.
1785
(May, 13th)
The Grand Committee of the Continental Congress decides that the unit of American money will be the silver dollar, with all coins in a decimal ratio to each other. Jefferson’s draft was adopted essentially intact by Congress on July 6th.
1786
(October, 16th)
The Continental Congress authorizes the establishment of a mint for the coinage of gold, silver, and copper. The Treasury Board describes the duties of top Mint Officers.
1787
(July, 6th)
The Continental Congress authorizes a United States issue of copper coins using the devices first proposed by Benjamin Franklin for the 1776 Continental Currency Dollar, known as the Fugio Coppers.
(September, 17th)
The Constitution is signed by members of the Constitutional Convention. The Constitution grants Congress the power to coin money, regulate its value, and provide for punishment of counterfeiting. States were now explicitly prohibited from coining money, this effectively ended all State issued coinage of copper coins.
1789
(September, 2nd)
The Treasury Department is established. It is the second oldest department in the Federal Government.
(September, 11th)
Alexander Hamilton of New York is nominated by President Washington and confirmed by the Senate as the first Secretary of the Treasury (1789-1795). He is the first of several Secretaries nominated and confirmed on the same day, and the first of seven foreign-born Secretaries of the Treasury.
1790
(January, 8th)
Washington encourages Congress to develop a uniform currency for the nation.
1791
(January, 28th)
Alexander Hamilton submits his Report on the Subject of A Mint to Congress, and the results of the U.S. Government’s first financial review on the silver content (or assay) of the Spanish dollar.
(March, 3rd)
Congress authorizes a Mint in a resolution.
1792
(April, 2nd)
Congressional legislation creates a national mint "at the seat of the government of the United States," and regulates coinage. It authorizes the Mint to make coins of gold (Eagles, Half Eagles and Quarter Eagles), silver (Dollars, Half Dollars, Quarter Dollars, Dimes, and Half Dimes), and copper (Cents and Half Cents).
The Act also authorizes the President to have buildings constructed in Philadelphia, as it was the current seat of the Government (The Mint was the first Federal building erected under the Constitution). The Director's annual salary is set at $2,000. Annual salaries for the assayer and chief coiner will be $1,500; for the engraver and treasurer—$1,200; for clerks $500; and "customary and reasonable" wages for workmen and servants according to their "respective stations and occupations".
(April, 14th)
David Rittenhouse, one of the leading men of science and mathematics is appointed as 1st Director of the Mint by President Washington.
(May, 8th)
Congressional legislation authorizes the Director of the Mint to "contract for and purchase a quantity of copper, not exceeding one hundred and fifty tons... to be coined at the Mint into cents and half cents."
(June, 1st)
Future Chief Coiner Henry Voigt is hired to over see the building of the new Mint. After the land was purchased and an old distillery was torn down, the foundation for the new Mint building is begun on July 31st.
(July, 14th)
The first coins struck are "half dismes", believed by some to be made from silverware provided by George and Martha Washington. These were likely struck elsewhere, presumably in saw maker John Harper’s shop, as the Mint was under construction at this time.
1793
(January, 29th)
President Washington appoints Henry Voigt as Chief Coiner.
(March, 3rd)
The first circulating coins--11,178 copper coins – are delivered
(December, 31st)
Jefferson resigns as Secretary of State.
1794
(March, 3rd)
An act of Congress lowers the security bonds for the coiner and assayer, so they can now handle the silver and gold bullion.
(October, 15th)
The first silver coins are finally struck once the bonds are reduced, this consisted of only 1,764 Dollars. On December 1st, Half Dollars were delivered.
1795
(July, 8th)
President Washington appoints Henry William DeSaussure of South Carolina 2nd Director of the Mint. He serves the second shortest term, resigning in less than four months.
(July, 31st)
The first gold coins are finally struck consisting of a small amount of Half Eagles.
(October, 28)
President Washington appoints Elias Boudinot of New Jersey 3rd Director of the Mint. He serves the 6th longest-term: 9 years and 9 months.
1796
(January, 18th)
The first Dimes are struck and delivered by the coiner.
(April, 9th)
The first Quarter Dollars are struck and delivered by the coiner.
(September, 21st)
The first Quarter Eagles are struck and delivered by the coiner. With this delivery, all of the denominations stipulated in the original Mint act had now been struck for circulation.
