UNITED STATES MINT & CURRENCY DENOMINATION.

The United States Mint was created on Apr. 2, 1792, by an act of Congress, which established the U.S. national coinage system. In 1799 the mint became an independent agency reporting directly to the president. It was made a statutory bureau of the Treasury Department in 1873, with a director appointed by the president. The mint manufactures and ships all U.S. coins for circulation to Federal Reserve banks and branches, which in turn issue coins to the public and business community through depository institu tions. The mint also safeguards the Treasury Department’s stored gold and silver, as well as other monetary assets.

The composition of dimes, quarters, and half dollars, traditionally produced from silver, was changed by the Coinage Act of 1965, which mandated that these coins from then on be minted from a cupronickel-clad alloy and reduced the silver content of the half dollar to 40%. In 1970, legislative action mandated that the half dollar and a dollar coin be minted from the same alloy. Mint headquarters are in Washington, DC. Mint production facilities are in Philadelphia, Denver, San Francisco, and West Point, NY. In addition, the mint is responsible for the U.S. Bullion Depository at Fort Knox, KY.

The mint offers free public tours and operates sales centers at the U.S. mints in Denver and Philadelphia.

History of the Dollar Coin.

The Eisenhower dollar was minted 1971 through 1978, when legislation called for the minting of the smaller Susan B. Anthony dollar coin. The Anthony dollar, minted through 1981, marked the first time that a woman other than a mythical figure appeared on a generally circulated U.S. coin. It was replaced in 2000 by the Golden Dollar Coin. Golden in color, with a smooth edge and wide border, the obverse depicts Sacagawea (a Shoshone woman who helped guide explorers Lewis and Clark) and her infant son. The reverse shows an American eagle and 17 stars, one for each of the states at the time of the Lewis and Clark expedition. In 2007, the mint began issuing a series of Golden Dollar Coins featuring U.S. presidents. Each includes the president’s name, likeness, and years of service. Four will be issued each year in the order in which the pres idents served. Presidents serving non-consecutive terms (Grover Cleveland) will be honored twice. According to the current schedule, coins will be minted through 2016 and only presidents deceased more than two years will be honored. The reverse features the Statue of Liberty. The mint mark, “e Pluribus Unum,” and “In God We Trust,” are edge-incused.

Bureau of Engraving and Printing

The Bureau of Engraving and Printing manufactures the financial and other securities of the United States. It designs and prints a variety of products, including Federal Reserve notes (bills in various denominations), Treasury securities, identification cards, naturalization certificates, and other special security documents. Denominations of the various types of printings produced by the bureau range from a 1/5-cent wine stamp to a $100,000,000 International Monetary Fund special note. Among its products are all hand-engraved invitations issued by the White House.

The first general circulation of paper money by the federal government dates back to 1861, prior to the establishment of the bureau, when, to finance the Civil War, Congress authorized the U.S. Treasury to issue non-interest-bearing demand notes, nicknamed “greenbacks” because of their color. A portrait of Pres. Abraham Lincoln appeared on the face of the first $10 notes. By 1862, the design of U.S. currency incorporated fine-line engraving, intricate geometric lathe work patterns, a Treasury seal, and engraved signatures to aid in counterfeit deterrence. All U.S. currency issued since 1861 remain valid and redeemable at full face value.

The Bureau of Engraving and Printing began operations by 1862, originally separating and sealing bank notes that were printed by private companies. In 1877, the bureau became the sole producer of U.S. currency. In 1894, it also began producing postage stamps. On June 10, 2005, the bureau printed its last stamps, a roll of 37-cent flag stamps; stamps are now produced by private printers.

The Federal Reserve Act of 1913 created the Federal Reserve as the nation’s central bank, and provided for currency called Federal Reserve notes. The first notes, issued the following year, were $10 notes bearing a portrait of Pres. Andrew Jackson. In 1929, the look of U.S. currency was standardized. The national motto, “In God We Trust,” was added to paper money in 1957.

The Bureau of Engraving and Printing currently operates two facilities, one in Washington, DC, opened in 1914, and one in Fort Worth, TX, which began operations in 1991.

Denominations of U.S. Currency

Since 1969 the largest denomination of U.S. currency that has been issued is the $100 bill. As larger-denomination bills reach the Federal Reserve Bank, they are removed from circulation. Because some discontinued currency is expected to be in the hands of holders for many years, the description of the various denominations below is continued:

$1 Washington. Back: Great Seal of U.S.
$2 Jefferson. Back: Signers of Declaration
$5 Lincoln. Back: Lincoln Memorial
$10 Hamilton. Back: U.S. Treasury
$20 Jackson. Back: White House
$50 Grant. Back: U.S. Capitol
$100 Franklin. Back: Independence Hall
$500 McKinley. Back: Ornate denominational marking
$1,000 Cleveland. Back:  Ornate denominational marking
$5,000 Madison. Back: Washington Resigning as Army Commander
$10,000 Salmon Chase. Back: Embarkation of the Pilgrims
$100,000 Wilson. Back: Ornate denominational marking (For use only in transactions between Federal Reserve System and Treasury Department).


U.S. Currency Designs

The U.S. Dept. of the Treasury, the Board of Governors of the Federal Reserve System, and the U.S. Secret Service unveiled a new design for the $100 note Apr. 21, 2010. A number of new security and anti-counterfeiting features are included in the redesign, which was initially scheduled for release in Feb. 2011 (a delay was announced Oct. 1, 2010). Upon the issue date of the new currency, older $100 notes will remain legal tender and do not need to be exchanged for new currency.

New security features incorporated in the redesigned $100 note include a blue 3-D security ribbon and the image of a bell in an inkwell on the front of the note. The security ribbon contains images of bells and numeral “100”s that change from one to the other as the note is tilted. The bell in the copper-colored inkwell changes color from copper to green when the note is tilted. Three security features were retained from the 1996 design: the watermark portrait of Benjamin Franklin, the security thread, and the color-changing “100” numeral.

In addition to the inkwell, phrases from the Declaration of Independence and an image of the quill used to sign it appear to the right of the Franklin portrait. The back of the note features a new illustration of the rear of Independence Hall. The Franklin portrait and Independence Hall illustrations are both larger than on the older design and are no longer encapsulated in oval frames.

The new $100 bill is considered the last denomination of the major currency redesign that the Treasury launched in 2003: on Oct. 9, 2003, the U.S. Treasury introduced a new $20 note, using background colors for the first ime since 1905. The notes have a security thread running vertically up one side, with “USA TWENTY” and a small U.S. flag; the thread glows green under UV light. Other security features include color-shifting ink in the number “20” in the lower right corner on the note’s face. A new $50 note with similar security features was released Sept. 28, 2004, followed by a $10 note on Mar. 2, 2006, and a $5 note Mar. 13, 2008.

Sources: United States Mint and Bureau of Engraving and Printing, U.S. Dept. of the Treasury (in "The World Almanac"). Adapted and illustrated to be posted by Leopoldo Costa.