Newsom signs legislation to remint
old San Francisco Mint building

The old U.S. Mint building, located on 5th Street and Mission Street.
Photo(s) by Luke Thomas

By Elizabeth Daley, Bay City News Service

October 8, 2006

SAN FRANCISCO (BCN) - The Old San Francisco Mint will be re-minted after Mayor Gavin Newsom signed legislation this week to enable historic renovations, Newsom's office announced.

With help from the nonprofit San Francisco Museum and Historical Society, the Old San Francisco Mint will be turned into a museum celebrating the history of San Francisco, according to the mayor's office.

Once complete, the "Old Mint'' will house 74,000 square feet of new commercial and cultural attractions including a city history museum, a coin museum and a variety of tourist attractions. The "Old Mint'' is located at Fifth and Mission streets.

"I can't think of a better use for this historic building,'' Newsom said in a statement.

According to the mayor's office, over the next 18 months the San Francisco Museum and Historical Society will finish final plans for reuse of the building and secure all funds to complete the restoration and redevelopment before the city issues the nonprofit the lease.

The city will lease the building for 66 years without charging rent if the nonprofit can raise the funds it needs to restore and reuse the building, according to the mayor's office.

Building renovation will take approximately two years and is expected to cost $83 million, according to the mayor's office.

The mayor's office reports the Old San Francisco Mint was founded in 1874 as the first branch of the United States Mint in California. Known as the "Granite Lady,'' the "Old Mint'' is one of the most important historic structures in San Francisco and was the only financial institution to survive the 1906 earthquake, according to the mayor's office.

In 1995, the federal government closed the "Old Mint.'' It was purchased by San Francisco for $1 million in 2003 but has since been in serious disrepair, according to the mayor's office.

"I applaud the Museum and Historical Society for stepping up to the plate and proposing something that all San Franciscans can be proud of,'' said Newsom of the mint's renovation.

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