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Philly has always been a site for commerce, financial growth and business – but it’s also where American currency was born.
The first U.S. Mint was established in Philly in 1792, over a decade after the nation was founded.
“The Founding Fathers debated for quite a long time,” said Eliza Rasmussen, a public affairs specialist with the U.S. Mint. “They thought, ‘Actually, should we have a Mint? Do we need our own coins? We’ve been using all these European coins for decades.”
Before the Mint was founded, colonial-era Americans paid for things with foreign currency or via trade, using livestock or produce. But the Coinage Act in 1792 changed this.
“The [founding fathers] finally decided, on April 2nd, 1792, that ‘yes, we need our own Mint because to be a sovereign country, we need our own coins. We’ve got to be able to control our own money.’”
Congress designated Philadelphia as the location – as it was the nation’s capital at the time.
“When they ended up moving the capital down to Washington D.C., they looked into moving the Mint, but we have so much equipment to make coins and such skilled labor that is also needed, and it was just so expensive to move all of our equipment and move all of the people down to D.C. that they were like, ‘It’s not worth it. It will stay in Philadelphia,’” Rasmussen said.
Evolving over time
As soon as the Mint was established in 1792, coin production began. This included various denominations of cents, dimes and dollar coins. They also produced currency that isn’t around today, such as the quarter eagle ($2.50), half eagle ($5) and eagle ($10).
Rasmussen said the Mint has been at four different locations around the city over the years.
“Every coin [has been] a chance to mint for people to experience, looking in their pockets,” said Rasmussen. “The world’s most expensive coin came from the Philadelphia Mint as well.”
Two gold rushes in the early 1800s – in North Carolina and Georgia, respectively – began to push Philly’s Mint to its limits. This led Congress to authorize branch mints in Charlotte, NC, Dahlonega, GA and New Orleans, LA.
Over the years, several other mints opened and closed – but four active, coin-producing mints remain today: in Denver, San Francisco, and West Point, New York.
Rasmussen said having mints with proper equipment and production capabilities is important.
“Your coin is like a mini piece of artwork that you have in your pocket that represents our country and our nation and our beliefs,” she said. “So we want to make sure that it’s always protected.”
Sean Martorana is the artist who designed the 52 Weeks of Firsts sculpture celebrating the first U.S. Mint. He said his design embodies some of these American values and beliefs.
“Looking at the symbolism of coin and currency, we have a laurel wreath on here, we have a flame, we have a torch,” he said.
The first U.S. Mint will be the subject of this weekend’s Philly ‘firstival,’ where Martorana’s sculpture will be on display, visitors can take tours of the facility, and family-friendly activities will be on hand.
“We’re also going to have a coin column that is full of coins, and everyone is allowed to guess how many coins are in there. The winner will get a really special, incredible prize,” Rasmussen said. “We’ll also have an activity booklet for everybody to complete, and we will have coloring pages for kids and everything along those lines, and many more activities.”
It will take place from 11 a.m. to 1 p.m. at the Mint at 151 N. Independence Mall East.
Below is more info on all of this year’s Firstivals – including where you can find this upcoming Saturday’s Firstival dates and location.
Completed
Week 1: Successful balloon flight in America (1793)
Week 2: The Mummers parade, the nation’s first folk parade (1901)
Week 3: Volunteer fire company (1736)
Week 4: Professional basketball league (1898)
Week 5: Public Girl Scout cookie sale (1932)
Week 6: African Methodist Episcopal congregation (1794)
Week 7: Abolitionist society in America (1775)
Week 8: Authentic Chinese gate built in America (1984)
Week 9: Public protest against slavery in America (1688)
Week 10: Flower Show (1829)
Week 11: Women’s medical college (1850)
Week 12: Matchbook (1892)
Week 13: Medical school (1765)
Week 14: Stadium (1895)
Week 15: Circus performance (1793)
Week 16: Botanical garden (1728)
Week 17: Postmaster (1737)
Week 18: American-made piano and sousaphone (1775 and 1893)
Week 19: Mother’s Day (1908)
Week 20: Hospital in America (1751)
Week 21: World’s Fair on American soil (1876)
Week 22: Steamboat for passengers and freight (1787)
Week 23: American flag (1777)
Week 24: U.S. Army (1775)
Week 25: Annual Reminder demonstration (1965)
Week 26: Paper maker in America (1690)
Week 27: Bank of the United States (1791)
Week 28: Organized baseball team (1831)
Week 29: Ice cream soda (Oct. 1874)
Week 30: American art school (1805)
Week 31: Scientific Society of Natural History (1812)
Week 31: Zoo in America (1874)
Upcoming
• U.S. Mint (1793)
Aug. 15, U.S. Mint, 151 N. Independence Mall East
• Selfie (1839)
Aug. 22, Franklin Square, 6th & Race Streets
• Slinky (1943)
Aug. 29, American Philosophical Society, 104 South 5th Street
• Signing of the Constitution (1787)
Sept. 5, National Constitution Center, 525 Arch St.
• Continental Congress (1774)
Sept. 12 at Carpenters’ Hall, 320 Chestnut St.
• Naming of the United States (1776)
Sept. 19, Independence Hall
• Ronald McDonald House (1974)
Sept. 26, Ronald McDonald House, 3925 Chestnut St.
• Penitentiary in America (1829)
Oct. 3, Eastern State Penitentiary, 2027 Fairmount Ave.
• The First Peoples
Oct. 10, Penn Museum, 3260 South St.
• U.S. Navy and Marine Corps (1775)
Oct. 17, Arch Street Meeting House, 320 Arch St.
• Public showing of a motion picture (1870)
Oct. 24, Philadelphia Film Society, 1412 Chestnut St.
• Modern detective story written (1841)
Oct. 31, Edgar Allan Poe House, 532 N. 7th St.
• Thanksgiving Day parade in America (1920)
Nov. 7, Weitzman National Museum of American Jewish History, 101 South Independence Mall East
• University in America (1740)
Nov. 14, Houston Hall, The University of Pennsylvania, 3417 Spruce St.
• Children’s hospital in America (1855)
Nov. 21, Children’s Hospital of Philadelphia, Main Building, 3401 Civic Center Blvd.
• Pencil with an attached eraser (1858)
Nov. 28, National Liberty Museum, 321 Chestnut St.
• Weather bureau (1870)
Dec. 5, The Franklin Institute, 222 N. 20th St.
• Electronic computer (1945)
Dec. 12, The University of Pennsylvania, 3451 Walnut St.
• Public lending library in America (1731)
Dec. 19, The Library Company of Philadelphia, 1314 Locust St.
• Philly food firsts: Cheesesteaks (1930s), water ice (1932) and bubble gum (1928)
Dec. 26, Reading Terminal Market, 1136 Arch St.
