Legislation1792
Coinage Act Establishes the U.S. Mint
Congress passed the Coinage Act of 1792, establishing the United States Mint in Philadelphia and creating a national monetary system based on the dollar. The act defined the dollar in terms of silver and gold and authorized the production of coins.
Why It Matters
A national currency was essential to building a unified economy and asserting the sovereignty of the new republic, replacing the patchwork of foreign coins and state currencies.