April is an important month in the history of American currency. To be exact April 2nd, 1792 is the date of the Coinage Act. That date marks the birth of our Philadelphia Mint. Tradition has it that owing to a lack of bullion, the first coins to be struck at the Mint - silver half dimes - were wrought from sterling teaspoons donated by President Washington. It is said that, a year later, Washington contributed "an excellent copper tea-kettle as well as two pair of tongs" to begin the manufacture of cents and half cents.
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| The first U.S. Mint (c.1910) built in 1792. |
Section 9 of the Coinage Act enacted that coins of gold, silver, and copper, of the following denominations, values and descriptions be minted:
EAGLES
Each to be of the value of ten dollars or units, and to contain two hundred and forty-seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold.
HALF EAGLES
Each to be of the value of five dollars, and to contain one hundred and twenty-three grains and six eighths of a grain of pure, or one hundred and thirty-five grains of standard gold.
QUARTER EAGLES
Each to be of the value of two dollars and a half dollar, and to contain sixty-one grains and seven eighths of a grain of pure, or sixty-seven grains and four eighths of a grain of standard gold.
DOLLARS OR UNITS
Each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver.
HALF DOLLARS
Each to be of half the value of the dollar or unit, and to contain one hundred and eighty-five grains and ten sixteenth parts of a grain of pure, or two hundred and eight grains of standard silver.
QUARTER DOLLAR
Each to be of one fourth the value of the dollar or unit, and to contain ninety-two grains and thirteen sixteenth parts of a grain of pure, or one hundred and four grains of standard silver.
DISMES
Each to be of the value of one tenth of a dollar or unit, and to contain thirty- seven grains and two sixteenth parts of a grain of pure, or forty-one grains and three fifths parts of a grain of standard silver.
HALF DISMES
Each to be of the value of one twentieth of a dollar, and to contain eighteen grains and nine sixteenth parts of a grain of pure, or twenty grains and four fifths parts of a grain of standard silver.
CENTS
Each to be of the value of the one hundredth part of a dollar, and to contain eleven penny-weights of copper.
HALF CENTS
Each to be of the value of half a cent, and to contain five penny-weights and a half a penny-weight of copper.
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| 1794 Philadelphia City Directory with US Mint entries. |
So good luck this April and May as you potentially detect these first minted pieces of history. I can hardly wait for the rain to dissipate and the ground to dry some. My personal backyard resembles something more akin to a swamp than anything else at the moment. Until further ado good luck on your hunts as the season officially starts!
