Denominations of Coins
While the U.S. Mint used to produce $ 5, $ 10 and $ 20 coins, its production nowadays is limited to by and large all cents coins : pennies, nickels, dimes and quarters. Two early coins are produced : half dollars and dollars. U.S. coins are made of several different metals in alone combinations. Half dollar, dime and one-fourth metallic element content is the lapp ; they are all made of a copper kernel with copper-nickel plate. All of the other coins have distinct compositions, which is one way of deterring counterfeiting.
Reading: Metal Composition of Coins
Pennies are made of copper-plated zinc, nickels are composed of a copper-nickel admixture and dollars have a copper kernel with manganese brass section plat. The composition of U.S. coins has changed since the U.S. Mint began producing currency in 1793. This is due to a number of factors, including the value of the metals used and the need for the metals in early products.
Changing Coin Compositions
Changes to the compositions of U.S. coins have been necessary for a variety of reasons. Over the 225 years that the U.S. Mint has been making coins, a number of changes in engineering and handiness of metals has led to new ways of making coins and new alloy combinations in the compositions of the currency.
While each urge could make about 100 coins per infinitesimal in the 1800s, the presses used today are adequate to of producing 720 coins per minute. At first, pennies were made of arrant copper ; this changed in 1857, when the U.S. Mint added nickel to the copper. Zinc replaced nickel in the recipe in 1864, and it became an even larger part of the penny in 1943, when copper was needed for the war effort in World War II. Later, in 1982, the U.S. Mint began producing pennies made of only 2.5 % copper. U.S. nickel composition has besides changed significantly over the years. While in the first place composed of silver, the nickel became the beginning mint produced without argent when it started being produced with a combination of copper and nickel in 1866. similarly, silver was eliminated from the musical composition of dimes and quarters in 1965. The U.S. Mint stopped producing amber coins in 1933, as an undertake to stabilize the measure of gold during the Great Depression. Private ownership of gold coins was banned from 1933 to 1974 as a resultant role of legislation passed during the Great Depression.
History of Coin Production
The U.S. Mint opened in 1793, as a result of the Coinage Act of 1792. Before this clock, a mix of alien and domestic coins were used in the country, including british pounds, german thalers, Spanish milled dollars and some coins produced by U.S. colonies. In 1972, structure of the National Mint began in Philadelphia. The first coins produced for circulation, 11,178 bull cents, were delivered in March of 1793. In the early years, the U.S. Mint was not able to put enough coins into circulation, ascribable to the behind and physical nature of the first coin presses. Huge jump in production came in the nineteenth century, with the introduction of steamer power. By 1857, the U.S. Mint was able to produce all the coins needed in the nation, and a law was passed by Congress to ban circulation of alien coins.