In the United States, Congress holds the ultimate authority to print and coin money.
Specifically, the power to:
- Coin money and regulate its value, as well as foreign currency, is granted to Congress by Article I, Section 8, Clause 5 of the U.S. Constitution.
- Print paper currency (Federal Reserve Notes) is handled by the Bureau of Engraving and Printing (BEP) , a bureau within the Department of the Treasury.
- Mint coins is handled by the United States Mint , another bureau within the Department of the Treasury.
The Federal Reserve System (the Fed), while not directly printing or minting, plays a crucial role in managing the money supply by influencing interest rates and other aspects of monetary policy to achieve maximum employment and stable prices. The Fed also orders currency from the Bureau of Engraving and Printing based on the demand for cash.
What government can print and coin money?
U.S currency is produced by the Bureau of Engraving and Printing and U.S. coins are produced by the U.S. Mint. Both organizations are bureaus of the U.S. Department of the Treasury.
Who allowed states to print and coin money?
[ The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; . . . National Bank v. United States, 101 U.S. 1 (1880).
Who has the power to print coin money?
I can help with that. Article I, Section 8, Clause 5 is known as the coinage clause. It gives Congress the exclusive power to coin money. The Supreme Court has also interpreted clause 5 as giving Congress the sole authority to regulate every aspect of United States currency.
What branch has the power to print money?
The Treasury Department’s Bureau of Engraving and Printing handles the printing of currency bills in the U.S., as directed by the Fed.