First Mint Established in Philadelphia by Act
of April 2, 1792
The project of a national mint for the United States was first introduced by Robert Morris, of Philadelphia, the patriot and financier of the Revolution.
As the head of the Finance Department, Mr. Morris was instructed by Congress to prepare a report on the foreign coins then in circulation in the United States. On January 15, 1782, he laid before Congress an exposition of the whole subject, and accompanying this report, was a plan for American coinage.
Robert Morris was assisted in his effort to establish a mint by Thomas Jefferson and Alexander Hamilton.
On April 15, 1790, Congress instructed the Secretary of the Treasury, Alexander Hamilton, to prepare and report a proper plan for the establishment of a national mint. This was done at the ensuing session of Congress. The act was framed and passed finally March 26, 1792, and received the approval of President George Washington April 2, 1792.
A lot of ground was purchased on Seventh Street near Arch, and appropriations were made for erecting the necessary buildings. An old stillhouse, which stood on the lot, had first to be removed. In an account book of that time we find an entry on July 31, 1792, of the sale of some old material from the stillhouse for seven shillings and sixpence, which Mr. Rittenhouse directed “should be laid out for punch in laying the foundation stone.”
David Rittenhouse was the first Director of the Mint, April 14, 1792, until his health compelled him to resign in June, 1795.