We consider some basic problems associated with quantum mechanics of systems having a time-dependent Hilbert space. We provide a consistent treatment of these systems and address the possibility of describing them in terms of a time-independent Hilbert space. We show that in general the Hamiltonian operator does not represent an observable of the system even if it is a self-adjoint operator. This is related to a hidden geometric aspect of quantum mechanics arising from the presence of an operator-valued gauge potential. We also offer a careful treatment of quantum systems whose Hilbert space is obtained by endowing a time-independent vector space with a time-dependent inner product.
Keywords: Hermitian vector bundle; Hilbert bundle; gauge theory; pseudo-Hermitian operator; time-dependent Hilbert space; time-dependent inner product.