How much of a profit does the mint make, and what do they do with it?

dan1ecu

How does the mint use the proceeds from selling proof sets, mint sets, bullion coins, etc.? Do they buy new equipment with it? Does the money go back to the Federal Government? I know that they spend quite a bit on advertizing. What’s the incentive for them to produce and sell mint products?

Dan

littlewicher

The mint and the government probably don't have business entity, therefore, the mint's profit is also the government's profit. The mint's sales wouldn't be enough to pay for their expenses.

BSqr

Unfortunately the Mint is having to buy Silver on the open market and chances are the same is true for Gold.

BSqr

You can go here to view the year 2000 operating results

Hres is an excerpt, "In FY 2000 contributions to the Treasury General Fund increased by 124% over that of the prior year — $2.28 billion for FY 2000 as compared to the prior record high of $1.02 billion for FY 1999. "

Therefore, the Mint made $2.28 Billion profit in the year 2000

drsvenghali

Hey, if I could coin money I'm sure I could make a profit too! Of course, if I could, I'd rather print money instead. Paper has a much larger profit margin.

littlewicher

<< <i>Paper has a much larger profit margin. >>



Coins are cheaper to produce, and they don't wear out as fast.

michael

the mint makes a monster huge profit and the profits go back into the governments general services administration division to be spent foolishly and wastefully by politicians on themselves and their special interest contributers to their own benefit

sincerely michael

dan1ecu

No need to sugar coat things, Michael. Tell us how you really feel.

Dan

BSqr

just 2 small corrections to what michael said

1) the profit goes to the Treasury Dept. and not the GSA
2) don't forget about the massive social spending