History of U.S Coinage
The official currency of the U.S. is the American dollar as outlined in the Mint Act of 1792. For most practical purposes, the U.S. dollar is divided into 100 smaller cent units, over multiple denominations from the penny to the dollar. The Mint Coinage Act of 1792 authorized production of ten different coin denominations. Gold coins included the Eagle with a face value of $10, the Half Eagle at $5, and the Quarter Eagle at $2.50. Silver denominations included the $1 Dollar, .50₵ Half Dollar, .25₵ Quarter, .10₵ Dime, and .5₵ Half Dime (which later became the Nickel). At the lower end of the U.S. coin scale was copper coinage, which included the .01₵ Cent (known as the Penney today) and the .005₵ Half Cent (which ended in 1857).
Modern U.S Coinage
Today, the U.S. Mint strikes a wide variety of coinage in Copper, Nickel, Silver, Gold, Platinum, and Palladium. Some coins are minted for general circulation, while other special coins are minted just for collectors. Popular U.S. coins include the Gold American Eagle, American Buffalo, American Silver Eagle, Proof Sets and Commemorative Coins.
Rare U.S Coins
There are many different denominations, coin types, and dates that qualify as rare U.S. coins and a variety of ways in which to collect them. Rare U.S. coins span a 141 year period from the start of the U.S. Mint to the Gold Recall Act, which was signed by President Franklin D. Roosevelt in 1933 and made it illegal to own gold, except for rare and collectible coins. American coins are some of the most collectible in the world and there are many U.S. rare coins available for any budget.