Initially, pennies were made from copper. Other metals such as copper, nickel and zinc are used to make ordinary coins. However, due to the increasing price of these metals, they are only used now for making bullion coins or collectors’ coins. Exotic metals such as silver and gold were used by the United States mint for making coins. Metals Used in CoinsĬoins available from the United States mint are made from a variety of metals. Cupro-nickel is silver in color with hard wearing and excellent striking properties, which are essential for the design of the coin.

To counter this problem, coins are now made from combination of metals such as cupro-nickel. This would allow smelters to melt the coins and re-sell them. Hence coins are usually made using base metal alloys.Ĭare should be taken to ensure that the value of the metal within a coin is greater than the face value. The metal used must thus have excellent wear resistance and anti-corrosion properties. Coins have a purpose and some special requirements based on the conditions they will encounter. The metals used to make coins are specifically chosen to serve long term.

Mint and established a federal monetary system with set denominations for coins, and specified the value of each coin in gold, silver, or copper.

In 1792, the Coinage Act of 1792 created the U.S.

In 1785, Congress adopted the dollar as the monetary unit of the United States.

It was to support the financial operations of the fledgling government.

In 1781, Congress chartered the Bank of North America in Philadelphia as the first national bank.

Here is a brief look into the history of currency in the U.S.: One American dollar is divided into 100 smaller units called cents. It is the official currency of the United States of America and its overseas territories. The United States dollar (USD/US$) is also referred to as American dollar or the U.S.

Silver us coins