The U.S. Treasury Department is responsible for overseeing production of paper currency and coins. The Bureau of Engraving and Printing produces paper money, while the U.S. Mint generates the nation’s coins.
The U.S. Mint
Before the U.S. Mint was established, business transactions were conducted via barter system, trading for produce, livestock and native American shell beads known as wampum. On April 2, 1792, the U.S. Mint was created in Philadelphia. The first coins were copper cent pieces, placed in circulation in March, 1793, according to the U.S. Mint's website.
Bureau of Engraving and Printing
In 1861, paper money production depended on workers, who signed, trimmed and separated individual sheets of currency. Eventually the procedure became more mechanized. On August 29, 1862, a note processing workshop was created in the Treasury building basement. This operation eventually assumed the duties of engraving and printing entrusted to the Treasury, thus establishing the Bureau of Engraving and Printing, according to the U.S. Treasury website.
The U.S. Mint can produce more than 65 million coins a day at only two of its facilities. The Bureau of Engraving and Printing has produced up to 38 million notes a day, with a face value of $750 million.
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