Congress authorizes a mint in San Francisco; gold from the Sierra foothills will finally become coin
Gold from the Sierra foothills was flooding California by the early 1850s, but there was nowhere on the West Coast to turn raw bullion into legal coin. Congress eventually authorized a United States mint in San Francisco, which was established in response to the California gold rush. The mint opened in 1854 at 608 Commercial Street and processed four million dollars in gold bullion into coins within its first year. The Gold Rush finally had a bank at the end of it…
