R.W. Julian, one of the leading numismatic scholars of the late 20th and early 21st centuries, contributed “The Mint Investigation of 1795,” to the Numismatic Scrapbook Magazine, July 1961. The information is from the report given by Mint Director Elias Boudinot to the Committee appointed to examine the state of the Mint, sent to the House of Representatives, February 9, 1795, including the following listing of physical items. By this time silver dollars had been made (in October 1794) on an inadequately-sized press. Gold coins would not be made until the summer of 1795:

2nd. The present state and progress of the works. The houses are built on three lots of ground, in Seventh street, between Market and Arch streets, the fee simple of which is vested in the United States, and one in the Northern Liberties, taken by the Director, on a lease for five years, at the trifling rent of five shillings per annum.

The works consist of two rolling machines, one for hot and the other for cold metal, worked by four horses, and require five hands constantly to attend them, while in operation. There is a third, nearly completed, to be appropriated to the smaller coinage. A drawing machine for the purpose of equalizing the strips for cutting the planchets, and are worked by the same hands as are last mentioned. Three cutting presses for the planchets of larger and smaller coins, which are worked by one man each. A milling machine, which is intended to be worked by the horse mill, but, at present, requires one hand.

Three coining presses, with the improvement for supplying and discharging themselves by machinery. Six hands will attend three, if in one room. A fourth, for dollars and medals, in particular, will be finished in about three months. Two turning lathes for dies, and a boring machine for making holes in the large frames, screws for presses, stakes, rollers, and an infinite variety of instruments and tools, necessary to carry on the coinage. There are, besides three annealing and one boiling furnace, with two forges, the assay, melting and refining furnaces.

The net produce of these works, from the establishment of the Mint to this time, consists of one million and eighty-seven thousand five hundred cents, paid into the Treasury of the United States, equal to ten thousand eight hundred and seventy-five dollars; in silver coins delivered, thirty-five thousand one hundred and sixty-five dollars. The future produce, it is said, will be about two hundred thousand cents per month…

Rarities Auction Accompanying The D. Brent Pogue Collection

Stack’s Bowers Galleries will be hosting an exclusive Rarities Auction, held in conjunction with The D. Brent Pogue Collection. We will be accepting limited consignments of United States and world coins and paper money, featured in a spectacular catalog reserved for the rarest of the rare. Special terms will apply. If you are interested in participating in this unique opportunity, please call 949-748-4849 or email us at [email protected].

Alternatively, you can fill out our online consignment form. Click here to view the form.