
The United States Mint in San Francisco, affectionately known as the Granite Lady, stands today as a result of the California Gold Rush. When gold was discovered in 1848 at Sutter’s Mill in Coloma, California, the great gold rush began, and with it, a need for financial institutions. A mint was necessary to convert the miners’ gold into coins. Without a mint in California, all gold was shipped to Philadelphia for coining, a dangerous and expensive effort. On July 8, 1852, President Millard Fillmore signed an act authorizing the building of a mint in the state of California. The California legislature Continue Reading