Miami Valley Coin Club

On June 10, 1652…

In Massachusetts, silversmith John Hull, at age 28, opened the first mint in America, in defiance of English colonial law. The first coin issued was the Pine Tree Shilling, designed by Hull. This mint produced coins from 1652 to 1682 (or 83). As compensation, Hull was allowed keep 6 percent of all the silver he minted.

The deal was a sweet one. In England, the official mint-masters of the Crown were allowed to keep about 3 percent of the currency they struck – and they still got rich.