Controversy Surrounding Fort Knox

Controversy Surrounding Fort Knox

Fort Knox is an Army post that sits on 109,000 acres of land located in what used to be West Point, Kentucky. It’s an area situated north of Elizabethtown and South of Louisville which spans three counties. Inside you will find the United States Army Accessions Command, the United States Army Cadet Command, and the Army Human Resources Command, which are all a part of the Army Human Resources Timothy Maude Center of Excellence. The…

Top Five Numismatic Museums In America

Top Five Numismatic Museums In America

Numismatic history often bears direct parallels to the chronicles of human history. Hammered precious metals appeared during the ancient Hellenic, Indian and Chinese civilizations in the 6th century B.C.. Minted copper, silver, and gold coins appeared during medieval Europe. Fiat currencies made their appearances in the 20th century. The natural development of currencies offers a glimpse into the technological, socioeconomic, and political progression of the human race.

The Strength of “In God We Trust”

The Strength of “In God We Trust”

The phrase In God We Trust, which appears on United States coins and paper currency, was inspired from a line in Francis Scott Key’s “The Star-Spangled Banner”. The poem eventually became the United States national anthem. Francis was inspired by the sight of the U.S. flag still flying over Fort McHenry on the morning of 14th September 1814 after a night of heavy British bombardment.

Early Coins from 1700, 1800

Early Coins from 1700, 1800

During the 1700’s and 1800’s, gold coins and silver coins became very popular in nearly all parts of the world as trading grew. Coins were used as “commodity money”. This means that the value of a coin was dependent on the amount of silver or gold it contained. Below is a list of brief descriptions of various gold coins and silver coins that were used in the 1700’s and 1800’s.

Rare Coins Throughout History

Rare Coins Throughout History

Since ancient Roman times, coin collecting has been a hobby that is still practiced nowadays. Due to this, some rare coins have survived throughout time. People are fascinated by the history and the stories that rare coins carry. Some rare coins this article will touch on are the  Pan-Pac 50 Round, 1841 Liberty Head, 1879 Flowing Hair Stella and 1912 Motto St. Gaudens.

History of the United States Mint

History of the United States Mint

The United States Mint is responsible for producing and circulating all coinage for use in economic trade or commerce. However, few are actually aware of the history behind this financial intuition. In the beginning of America’s days as a colony, each state produced its own currency or accepted foreign coins as a means of payment. Massachusetts was the first of the colonies to produce a paper currency, which later gave rise to Continental Currency in…

Nixon and the Gold Standard

Nixon and the Gold Standard

The Gold Standard The United States had been under the gold standard from 1879–1933. Following the bank failures of the Great Depression in the 1930’s and the stock market crash of 1929, President Roosevelt enacted the Gold Reserve Act of 1934. As the US was still facing the the after effects of the economic turmoil, this act attempted to counter these effects by confiscating the majority of gold owned by Americans in the 1930’s in…

Popular Coinage of America

Popular Coinage of America

A big part of any respected country is their monetary system. When the United States was formed, they had a big challenge on their hands. They had to create a system that other countries recognized and respected. The Coinage Act, which was passed on April 2, 1792, created the United States Mint and the U.S. Mint building in Philadelphia. This was actually America’s first Federal building after the Constitution was signed. The first director of…