The first coin authorized for production by the United States government was the Fugio Cent , in 1787.
Here’s additional information about the Fugio Cent:
- Authorization: The Congress of the Confederation authorized the Fugio Cent, the governing body before the U.S. Constitution was ratified.
- Purpose: The goal was to establish a national copper coin. This aimed to bring order and trust to the nation’s currency system, which was then a mix of colonial, foreign, and privately issued tokens.
- Design: Benjamin Franklin is credited with the design of the Fugio Cent.
– Obverse (front): Features a sundial with the Latin phrase “Fugio” (meaning “I fly,” representing time flying) and the phrase “Mind Your Business”. This is widely interpreted as Franklin’s advice to be industrious and responsible.
– Reverse (back): Shows thirteen interlinked rings (representing the thirteen colonies) with the inscription “WE ARE ONE”.
- Minting: James Jarvis received the contract for striking the Fugio Cents. The coins were minted in New Haven, Connecticut.
- Significance: Although the Fugio Cent had limited circulation, it’s considered the first official coin of the United States. It played a role in setting the stage for the establishment of the U.S. Mint and a national currency system. In 2022, major coin grading services reclassified it as a “regular-issue United States coin”.
What was the first USA coin?
The first authorization for the establishment of a mint in the United States was in a resolution of the Congress of the Confederation of February 21, 1782, and the first general-circulation coin of the United States, the Fugio cent, was produced in 1787 based on the Continental dollar.
What is the rarest American coin in existence?
The 1822 Half Eagle gold coin is currently one of the rarest coins in existence. Released with a $5 denomination by the U.S. Mint, the eagle design was created by John Reich. Approximately 17,800 pieces of the 1822 coin were made, yet only three are still believed to exist today.
What was the first American dollar coin?
The Flowing Hair dollar was the first dollar coin issued by the United States federal government. The coin was minted in 1794 and 1795; its size and weight were based on the Spanish dollar, which was popular in trade throughout the Americas.