Monday, December 2, 2024

The Switch to Steam Power

The 19th century ushered in the use of steam power, and big changes in coin production. In 1816, rollers and cutting presses were the first machines powered by a steam engine. Then in 1833, the Mint hired Franklin Peale to travel to mints in Europe to observe their processes. He brought back many ideas for advancements to the Mint and its equipment.

Two years after Peale returned, the Mint built steam-powered coining presses modeled after those used in Europe. A single person operated a press, dropping blank coins down a tube to feed between the dies. Coin production became a lot less labor-intensive, opening up many jobs to women.

The new presses dramatically increased production numbers, with each press capable of making around 100 coins per minute. That, combined with the opening of other branch Mints, brought coinage to the levels needed for the country’s circulation. In 1857, Congress passed a law to ban all foreign coins from circulation.

When branch Mints opened in Charlotte, Dahlonega, and New Orleans in 1838, there became a need for mint marks to distinguish the coins. All the branch Mints used mint marks, but Philadelphia – as the original Mint – did not. It wasn’t until 1942 that Philadelphia’s “P” mint mark appeared briefly for the first time on the nickel. Since 1980 all of Philadelphia’s coins, except the cent, receive the “P” mint mark. Source

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