On April 2, 1792, Congress passed the Coinage Act, which created the United States Mint. The law established a national currency based on the dollar and defined standards for gold, silver, and copper coins. It aimed to replace the confusing mix of foreign coins and paper notes circulating in the young republic. The Mint’s first facility was built in Philadelphia, then the national capital. Standardized coinage helped stabilize commerce and build confidence in the federal government’s financial system. The act laid the foundation for the modern U.S. monetary structure.
