President George Washington, in his third annual address to the fledgling United States on 25 October 1791, made it clear to his nation of the importance of the immediate establishment of a federal mint. “The disorders in the existing currency, and especially the scarcity of small change, a scarcity so peculiarly distressing to the poorer classes, strongly recommended carrying into immediate effect the resolution already entered into concerning the establishment of a Mint. Measures have been taken pursuant to that resolution for procuring some of the most necessary artists, together with the requisite Apparatus.”

A mint building, located on Seventh Street and Arch in Philadelphia, was the first government building to be erected under the aegis of the new Federal Government. David Rittenhouse of Philadelphia was appointed as first Director of the Mint. The appointment of Rittenhouse, a well-known scientist and philosopher, ensured that a man of intellect and accomplishment would manage this new undertaking. This was deemed by the government to be of great importance, In order to show the world that the United States was a country worthy of minting its own coinage.

The coins initially struck by the mint were cents an half-cents in 1793. Half dimes, dimes, quarters, half dollars, and dollars would follow beginning in 1794. Gold coins in denominations of $2.50, $5 and $10 were minted beginning in 1794 and 1795. This coinage in copper, silver and gold would continue to be minted until 1807/1808 when the coinage designs of Robert Scot would be replaced by another designer/artist, John Reich.

The Federal Coinage of the United States gives the investor a dynamic opportunity to own a piece of history that is undervalued compared to fine cabinetry, art or silverware of the same period. The surviving high-grade examples that we offer of this important first period of our history are always in short supply and high demand.