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Believe it or not, Philadelphia was the capital of the US, in the 1700's, so it only made sense for the first mint to be built there. The Philadelphia Mint is the oldest mint in the US, being established in 1792. After the ratification of the Constitution, the Founding Fathers needed to establish a national identity and a means of commerce. All coins minted at the Philadelphia Mint carry no mint mark, therefore making no mint mark, a mint mark. Once the mint was established, there was a Mint Act that took place, regulating how the coins would be made. One criteria was there must be an emblematic symbol of Liberty on every coin. George T. Morgan offered a new Liberty, as an up close portrait.