United States Mint

The Coinage Act of 1792 saw the creation of the United States Mint in the then capital of Philadelphia. Today, Mint facilities operate in several cities across the country, with headquarters in Washington, D.C. Headquarters, however, is not responsible for minting or producing. During the early to mid-twentieth century, there was also an overseas branch in the Philippines.

The Mint serves a variety of functions and is often thought to be responsible for the production of paper money. However, this responsibility actually lies with the Bureau of Engraving and Printing.

Some of the US Mint’s functions are:

Designing and producing special coinage, such as congressional gold medals

Producing, safeguarding, and controlling the movement of bullion

Distributing various coins to Federal Reserve Banks

Disbursing silver and gold for authorized use

The US Mint produces a variety of coins. The most famous bullion produced by the United States Mint is the American Eagle, in both gold and silver variations. The platinum American Eagle is very rare with a much higher premium. All three of these products are IRA Eligible.

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