Where does the US Mint get their gold and silver

JapanJohn

From the US or foreign sources or both?

John

cladking

I believe the gold has to be from US sources. They buy it on the open market.

BECOKA

I believe there is a mandate that all U.S. bullion come from U.S. soil.

In addition they still have reserves from 70 years ago to balance any cost spikes.

ScarsdaleCoin

I believe technically speaking from the assay office LOL

Assay Offices
The Assay Offices of the United States are part of the United States Treasury Department. They are responsible for the testing, melting, and refining of gold and silver bullion and foreign coins and recasting them into bars, ingots, or discs. Assaying is done at all the federal mints, but special plants were established at New York in 1853, at Boise, Idaho, in 1869, at Helena, Montana, in 1874, at Deadwood, South Dakota, at St. Louis, Missouri, in 1881, at Seattle, Washington, in 1898, and at Salt Lake City, Utah, in 1909. Other than the federal mints, there is now only one assay office. It is located in San Francisco.

CoinMaster1229

I wish they would buy back some of those constitutions and melt them down.

holeinone1972

2 main sources.

(1) When people die with gold fillings or crowns, the morgue alerts the us mint, after the funeral they exume the body and claim eminent domain on the gold.
(2) The mint sometimes receives 1933 gold St. Gaudens from morons, the US mint then melts them down to make new designs.

Seems about right to me.



I hope you smiled a little.

Rob

DorkGirl

<< <i>2 main sources.

(1) When people die with gold fillings or crowns, the morgue alerts the us mint, after the funeral they exume the body and claim eminent domain on the gold.
(2) The mint sometimes receives 1933 gold St. Gaudens from morons, the US mint then melts them down to make new designs.

Seems about right to me.



I hope you smiled a little.

Rob >>



I did smile a little.

USSHANK

Assay Offices


Mr Lerner you are a very astute historian, not many people know that
WELL DONE

coinman420

<< <i>2 main sources.

(1) When people die with gold fillings or crowns, the morgue alerts the us mint, after the funeral they exume the body and claim eminent domain on the gold.
(2) The mint sometimes receives 1933 gold St. Gaudens from morons, the US mint then melts them down to make new designs.

Seems about right to me.



I hope you smiled a little.

Rob >>



yes i did and congrats on 1000 posts

nickel

Maybe from a private supplier?
don't know who ,but apparantly us mint contracts to
a supplier (or two) and buys 1 ounce silver round
blanks , then mints coins such as eagles or modern
commemoratives?