Legal Definitions - United States Mint

The United States Mint is an agency operating under the U.S. Department of the Treasury. Its primary responsibility is to manufacture all the coins used for everyday purchases and commerce throughout the nation. In addition to circulating currency, the Mint also produces special collector's coins (known as numismatic coins), precious metal bullion coins made of gold and silver, and national medals. A significant additional duty of the United States Mint is the operation and security of the federal government's gold storage facility located at Fort Knox, Kentucky.

• Example 1: Supplying Everyday Currency
  When commercial banks across the country report a high demand for specific denominations like quarters and dimes, the Federal Reserve places an order with the United States Mint. The Mint then produces millions of new coins, ensuring that there is a steady supply of physical money for retail transactions, vending machines, and general public use.

  This example illustrates the Mint's core function of "producing coins to be used in trade and commerce," as it directly addresses the need for circulating currency to facilitate daily economic activity.

• Example 2: Creating Commemorative Collectibles
  A coin enthusiast decides to purchase a limited-edition silver dollar commemorating the 50th anniversary of a significant historical event, such as the Apollo 11 moon landing. This special coin, featuring unique artwork and a higher purity of silver than standard currency, is bought directly from the United States Mint's official catalog.

  This demonstrates the Mint's role in producing "numismatic coins" and "gold and silver coins," which are special issues designed for collectors or as commemorative items rather than for general spending.

• Example 3: Managing National Gold Reserves
  Following a major international financial transaction, the U.S. government acquires a substantial quantity of gold bullion. This newly acquired gold is then securely transported and stored within the highly fortified vaults at Fort Knox, Kentucky, which are managed and protected by the United States Mint as part of the nation's strategic assets.

  This highlights the Mint's critical responsibility for operating and safeguarding the "gold-storage facility at Fort Knox, Kentucky," which is essential for managing and securing the nation's precious metal reserves.