In 2010, San Francisco has a population of 805,000, and is a cultural and commercial city. However, when Spanish colonists found it in 1776, San Francisco (Saint Francis in Spanish) is just a small peninsula. What will bring people to San Francisco? The city is growing so much that they decide to build the San Francisco Mint.
In 1854, the first San Francisco mint opens in a small brick building. The first year, they mint over $4,000,000 in Gold Coins and the following year, they start minting Silver Coins as well.
Getting The Gold From San Francisco To The East Coast
Gold is in demand at the eastern banks. There won’t be an intercontinental railroad until 1869. There is difficulty traveling across the country because of robbers and Indians. So, the only way to get the gold there is by sea. There is no Panama Canal back then. So, you have to travel months around South America. Although there is no canal, they would take a boat from San Francisco to the isthmus of Panama, travel across, and take another boat to the Eastern US coast.
The most popular boat to take San Francisco gold is the USS Central America. Besides passengers, it has a cargo of over $2,000,000 of gold coins and bars. In September, 1857, the ship encountered a hurricane off the coast of North Carolina. Some ships rescue the passengers, but all the gold goes down with the ship. With the Central America not reaching New York City, the country goes through a financial crisis until the Civil War begins.
Moving The San Francisco Mint
In 1874, the San Francisco Mint moves to a new stone building that looks like a Greek temple (known as the Old Mint and “The Granite Lady”). They’re able to mint coins up to the 1906 earthquake. The building itself survives that and the fire afterwards. However, the gas works are partially destroyed, delaying minting coins for a short time. When they reopen, they expand beyond silver and gold coins by minting the Indian Cent in 1908 and the Liberty Nickel in 1912. They use this building until 1937 when they build the current building.
Operations continue until the 1955 minting the Lincoln Cent and Roosevelt Dime. Production won’t resume there until the 1965 Mint Set. Before then, the ‘S’ mint mark appeared on the reverse of coins. The 1965 – 1967 SMS coins will not have a mint mark. In 1968, San Francisco starts producing proof sets, which previously is done in Philadelphia. They produce Lincoln Cents for circulation from 1968-1974 and Jefferson Nickels from 1968 – 1970. The mint mark appears on the obverse starting in 1968.
While in San Francisco, visit the Mint
San Francisco has a US mint branch longer than any other city, with the exception of Philadelphia. They still produce the US Proof Sets as well as commemoratives. They designate the Old Mint building a National Landmark in 1961 and a California Historical Landmark in 1974. Then, they sell the Old Mint to the city in 2003 to become the San Francisco Museum at the Mint. The Old Mint is honored on a silver commemorative dollar and gold $5 piece in 2006, the first coin to be displayed on a coin.