Read why San Francisco terminated its lease of the Old Mint building

Official says San Francisco Museum and Historical Society hasn't been able to implement its vision
By , Coin World
Published : 03/27/15
Text Size

The 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. 

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.

Though 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 museum plan

In 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."

“Unfortunately,”  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."

Here's the full letter, as provided to Coin World by Updike's office:

San Francisco terminates Old Mint lease

More from

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's news and insights by signing up for our free eNewslettersliking us on Facebook, and following us on Twitter. We're also on Instagram!

You are signed in as:null
No comments yet