City of San Francisco notifed the San Francisco Museum and Historical
Society that it was terminating the historical society's lease of the
Old Mint building in a March 17 letter from San Francisco
Director of Property John Updike.
wrote that the city terminated the lease with the historical society,
effective immediately, due to “lack of progress” on the nonprofit's
plans to turn the Old Mint into a San Francisco history museum that
would include an area specific to American coinage and the Gold Rush.
the lease has been terminated, Updike's letter states the historical
society has until Aug. 1 to vacate the building. A dramatic arts
production company will use the facility on a short-term basis
beginning Sept. 1.
LATEST: Nonprofit hopes to return to Old Mint to carry out
the letter, Updike commends the historical society for opening the
building up to events and rentals and providing the public “a glimpse
of what this treasure can and should become."
he writes, "the vision described in the agreements between the
City and SFMHS for the Old Mint—first in 2003 and then in
2006—contemplated a number of critical milestones in improving this
community asset, and SFMHS has not been able to meet those milestones
or implement this vision."
the full letter, as provided to Coin World by Updike's office:
San Francisco terminates Old Mint lease
More from CoinWorld.com:
San Francisco moving on from group's plan to renovate Old Mint
Book value of United States Treasury-owned gold tops $11 billion
Bowers: Kennedy half dollar came along amid circulating coin shortage in U.S.
Pogue Collection total prices realized could exceed $200 million by 2017
Market Analysis: Recent price declines make popular classic commemorative series affordable
Keep up with all of CoinWorld.com's news and insights by signing up for our free eNewsletters, liking us on Facebook, and following us on Twitter. We're also on Instagram!