The westernmost production location in the US Mint portfolio is the San Francisco Mint. Aside from the original Philadelphia Mint, it is the longest-serving mint location in the country.

It is the primary mint location responsible to produce proof coins, and it also produces select commemorative issues. However, it is also deeply connected with the California Gold Rush and this westward expansion of the United States in the 19th century.

So, let’s talk about this mint branch, both in terms of its current role within the US Mint’s services and with respect to its important and unique history.

Why the San Francisco Mint Was Created

The California Gold Rush remains the greatest domestic gold discovery in American history. During the peak years of the rush (1848 – 1855), sources estimate that roughly 12 to 15 million ounces of gold were recovered by the “49ers.”

That number would more than triple in the 1890s due to the use of dredging procedures and implements. Over its history, California has produced more than 100 million ounces of gold, making it the most productive gold-producing state in the country.

However, Congress did not wait very long to address the influx of new gold ore from California. In the 1850s, shipping massive quantities of gold east was a dodgy proposition, as these kinds of loads would be susceptible to attacks by thieves, Native Americans, the weather, and difficult sections of road or path.

So, in July 1852, the national legislature decreed that the state would become home to a new branch of the US Mint. Shortly afterward, the Secretary of the Treasury would name San Francisco as the location of the new facility.

The new San Francisco Mint opened its doors in April 1854, just under two years after its authorization. In its first year, it produced more than $4 million in coinage (the equivalent of no less than $100 million).

Early Gold Coinage

For roughly the first hundred years of the United States as a country, its citizens enjoyed the ability to submit their raw gold and silver to the US Mint and have it stamped into genuine coins for free. So, when gold was discovered at Sutter’s Mill in 1848, the resulting rush of miners and prospectors and the aforementioned trouble with shipping gold east laid the groundwork for the inception of the San Francisco Mint.

As a result, the San Francisco Mint quickly became the primary gold mint for the American West. Its presence added stability to the western economy and provided a backstop for all kinds of commerce and business that arose due to the influx of new people.

The SF Mint’s role as a major gold-coin production facility effectively ended in 1933. In that year, FDR issued Executive Order 6102, which mostly banned private citizens from owning gold in significant quantities – including coins. Thus, the San Francisco Mint would go through a series of transitions before landing in its current capacity.

The “S” Mint Mark

Now, along with the debut of San Francisco-made coins in 1854 came the debut of the S mint mark. Though it was not the first mint mark in the history of the US Mint, it is now the oldest mint mark still in service.

Because Philadelphia generally did not use a mint mark on most coins for much of its history, the “S” mint mark is now the oldest continuously used mint mark in the US Mint system.

The S mint mark, therefore, identifies that the coin comes from the San Francisco Mint. Now that the SF Mint has focused its efforts on proof coinage, the S mint mark has become an important signifier for collectors.

The Off Years

For many years in the early 20th Century, the San Francisco Mint experienced a steady decline in the usefulness of its operations. The gold rush had slowed considerably, and the virtual ban on gold items enacted (by executive order in 1933 and Congressional legislation a year later) had all but eliminated the necessity of a gold production facility.

Then, the post-war economy experienced a recession, which reduced the need for coinage overall. Thus, the San Francisco Mint ceased regular coin production in 1955. It would not strike circulating coins again until 1965, 10 years later.

Although the recession and gold’s decline influenced this decision, the bigger reason behind the pause was the capability that the newer Denver Mint had afforded to the US Mint’s operations. Because the Denver Mint building was larger, it allowed for mechanized production equipment and higher capacity outputs.

Denver was not only cheaper on the production side. It was also aided by its geographical position – almost 1,000 miles east of San Francisco. As a result, shipping costs also fell dramatically.

In other words, the San Francisco Mint went through a period of functional obsolescence in the mid-20th century. It mostly sat dormant during this period, although it was revamped as an assay office in 1962.

However, a coin shortage prompted the restoration of the San Francisco location to its previous status as a mint. It would aid in the production of circulating currency for three years. Then, in 1968, it transitioned to its most recent role – that of a mint for proof coins and other collectors’ items in the US Mint’s inventory.

Transition to a Proof Coin Mint

In 1968, the San Francisco Mint assumed the duties for the production of proof coins from the Philadelphia Mint. It became the preeminent producer of proof sets in the nation.

In case you haven’t heard of these coins, proof coins are collectors’ pieces that look unlike any other type of coin. Their reliefs (raised portions) bear a frosted appearance, while their fields (sunken portions) have a mirror-like shine.

Proofs are never meant for circulation. For the most part, they are issued each year in sets. Each set usually includes a proof coin for each denomination.

The focus of the SF Mint is quality, not volume. So, unlike the billions of coins that flow from Philadelphia and Denver each year, the San Francisco usually produces proof coins in hundreds of thousands. Furthermore, their production is demand-driven, so there can be quite a bit of variation in mintages from year to year.

Notable San Francisco Mint Coins

We’ve already discussed most of these above, but here are some of the more notable mint coins that the San Francisco Mint has produced over the years:

1854-S Half Eagle – The first year of operation produced this $5 gold coin, and the gold used to make it is direct from the California Gold Rush. The historical significance of it alone makes it noteworthy.

1909-S VDB Lincoln Cent – This wheat penny came with a bit of controversy, as it bore the initials of its designer – Victor David Brenner. The SF Mint also produced only 484,000 of these pennies overall, making the versions with the S mint mark quite the prize for coin collectors.

1912-S Liberty Nickel – Many different elements came together to make this coin a treasure for numismatists. For one thing, this issue was the only one of the Liberty Head series that the San Francisco Mint produced. It was also produced in low numbers – only about 238,000 of them were ever struck. Finally, it was the last year of Liberty nickels overall, so coin collectors are always on the lookout for these.

2006 San Francisco Old Mint coins – The SF Mint produced this series of coins to commemorate the historic San Francisco Old Mint and its role in preserving the city’s gold reserves following the 1906 earthquake and fire. The series included $1 silver dollars and $5 gold coins, both in circulating and proof versions.

2020 Basketball Hall of Fame Curved Dollar – These commemoratives are notable for being the first curved coins in U.S. history. Select versions also featured colorized designs. These coins, which were released in gold, silver, and clad versions, paid tribute both to the 60th anniversary of the Basketball Hall of Fame and the 2020 Hall of Fame inductees.

Conclusion

The San Francisco Mint has gone through a great deal of change in its years of service. It began as a vital lifeline for the California Gold Rush, then served as a barometer of its progression.

The country’s changing relationship to gold and silver meant that the San Francisco Mint could not continue in its original mission. So, instead, it has carved out a place as the country’s proof coin hub. For coin collectors, the San Francisco Mint is as important as it used to be to the miners and prospectors coming down from the hills with their ore.