Department of the Treasury 

United States Mint 

Congressional Budget 

Justification and Annual 

Performance Plan and Report 

FY 2021 

 
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Table of Contents

Section I – Budget Request........................................................................................................... 3

A – Mission Statement ................................................................................................................ 3

B – Summary of the Request ...................................................................................................... 3

1.1 – Resource Detail Table ................................................................................................... 4

1.2 – Budget Adjustments Table ............................................................................................ 5

C – Budget Increases and Decreases Description ....................................................................... 5

1.3 – Object Classification (Schedule O) Obligations ................................................................ 7

D – Appropriations Language and Explanation of Changes ...................................................... 8

For more detailed information, please reference Section III p. 14. ............................................ 8

E – Legislative Proposals ............................................................................................................ 8

Section II – Annual Performance Plan and Report ................................................................. 10

A – Strategic Alignment ........................................................................................................... 10

B – Budget and Performance by Budget Activity .................................................................... 11

2.1.1 – Manufacturing Resources and Measures ...................................................................... 11

Manufacturing Budget and Performance .................................................................................. 12

C– Evidence-Building Activity ................................................................................................. 13

Section III – Additional Information ........................................................................................ 14

A – Summary of Capital Investments ....................................................................................... 14

 
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Section I – Budget Request 

A – Mission Statement 

The United States Mint (Mint) enables America’s economic growth and stability by protecting 

assets entrusted to us and manufacturing coins and medals to facilitate national commerce. 

B – Summary of the Request 

In Fiscal Year (FY) 2021, the Mint’s total estimated budgetary requirements for operations, 

metal, and capital investments are $2.55 billion. This budget will support the production of 14 

billion circulating coins, as well as the production of bullion and other numismatic products 

sufficient to meet customer demand. The Mint has one budget activity: manufacturing, which 

encompasses the bureau’s two major programs, circulating coinage and numismatic products 

(including bullion coins, collector coins, and national medals). 

To maintain its reputation as one of the finest mints in the world, the Mint is committed to 

operating according to the core values of service, quality, and integrity. The Mint has three 

strategic goals to help fulfill its mission and values: 1) Advancing our circulating mission 

through innovation and technology; 2) Fostering a safe, flexible, diverse and engaged workforce; 

3) Introducing diverse products to new customers and revitalizing the Mint customer base 

through the use of industry-proven marketing approaches. The Mint is currently updating their 

goals and expects to release a new plan in FY 2020. The goals in the plan align with Treasury 

Strategic Goal 1: Boost U.S. Economic Growth and Goal 5: Achieve Operational Excellence. 

Mint operations are funded through the Mint Public Enterprise Fund (PEF), 31 U.S.C. § 5136. 

The Mint generates revenue through the sale of circulating coins to the Federal Reserve Banks 

(FRB), numismatic products to the public, and bullion coins to authorized purchasers. All 

circulating and numismatic operating expenses, along with capital investments incurred for the 

Mint’s operations and programs, are paid out of the PEF. By law, all funds in the PEF are 

available without fiscal year limitation. Revenues determined to be in excess of the amount 

required by the PEF are transferred to the United States Treasury General Fund. 

Circulating 

Circulating coin production projections are based on current economic data and forecasts of FRB 

coin orders. Circulating coin production for FY 2020 and FY 2021 is forecasted at 14.0 billion 

coins for each year. This level reflects an 11 percent increase for FY 2020 and FY 2021 in 

shipments of all coin denominations, as compared to 12.5 billion in FY 2019. Circulating 

financial performance continues to be adversely affected by rising production costs. FY 2019 

unit costs increased for all denominations compared to the prior year. The unit cost for both 

pennies (1.99 cents) and nickels (7.62 cents) remained above face value for the 14th consecutive 

fiscal year. 

Numismatic Program 

The numismatic program, which includes bullion coins, is designed to prepare and distribute 

premium products to collectors and those who desire quality versions of coinage. Numismatic 

products are priced to cover metal and production costs. 
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Bullion Coins 

The bullion coin program provides the public a means to acquire precious metal coins as part of 

an investment portfolio. In FY 2019, bullion demand increased to 18.8 million ounces from the 

15.3 million ounces sold in FY 2018. Demand for bullion is forecasted at 29.6 million ounces 

for both FY 2020 and FY 2021. Bullion revenue is forecasted to be $1.6 billion in FY 2020 and 

FY 2021. 

Numismatic (Collector Coins and Medals) 

The numismatic program provides high-quality versions of circulating coinage, precious metal 

coins, commemorative coins, and national medals for sale to the public. Numismatic revenue 

increased by 19.3 percent from $293.1 million in FY 2018 to $349.6 million in FY 2019 due to a 

$6.9 million increase from annual core sets and a $40.5 million increase from commemorative 

coin products. Total units increased by 28 percent from 3.3 million in FY 2018 to 4.3 million in 

FY 2019. FY 2020 and FY 2021 numismatic revenues are projected to be $311 million each 

year, based on projected demand for numismatic products of 3.8 million in both FY 2020 and 

FY 2020. 

1.1 – Resource Detail Table 

Coin Shipments (Units In Millions/Coins) FY 2019 FY 2020 FY 2021

Circulating:

One Cent 7,315 8,500 8,500 

5-Cent 1,153 1,300 1,300 

Dime 2,215 2,400 2,400 

Quarter 1,783 1,800 1,800 

Half-Dollar - - - 

Dollar - - - 

Total Circulating 12,465 14,000 14,000 

FY 2019 FY 2020 FY 2021

Budget Category Budget Estimate Estimate

Administrative Operating Costs $396,691 $417,295 $406,697

Capital Investments $38,358 $40,500 $60,500

Metals and Materials Costs $1,120,413 $2,080,000 $2,080,000

Total Budgetary Resources $1,555,462 $2,537,795 $2,547,197

% Change

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

0.0%

% Change

-2.5%

49.4%

0.0%

0.4%
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1.2 – Budget Adjustments Table 

Dollars in Thousands 

 FTE Materials Operating & 

Capital Total 

FY 2020 Original Estimate 1,705 $2,270,000 $458,168 $2,728,168 

Program Changes 

Program Decreases: (34) ($190,000) ($7,669) ($197,669) 

Metal Due to Forecasted Decrease in Circulating Coin Metal Prices 0 ($30,000) $0 ($30,000) 

Metal Due to Forecasted Decrease in Bullion Production 0 ($160,000) $0 ($160,000) 

FTE Reduction (34) $0 ($4,097) ($4,097) 

Operating Efficiencies 0 $0 ($3,572) ($3,572) 

Program Increases: 0 $0 $7,296 $7,296 

FedRAMP Remediation Activities 0 $0 $4,000 $4,000 

Pay Raise (3.1% average pay raise) 0 $0 $3,296 $3,296 

Subtotal Program Changes (34) ($190,000) ($373) ($190,373) 

FY 2020 Revised Estimate 1,671 $2,080,000 $457,795 $2,537,795 

Changes to Base 

Maintaining Current Levels (MCLs) 0 $0 $10,856 $10,856 

Pay Annualization (2020 3.1% average pay raise) 0 $0 $1,629 $1,629 

Pay Raise (1.0% average pay raise) 0 $0 $1,588 $1,588 

FERS Contribution Increase 0 $0 $2,686 $2,686 

Non-Pay 0 $0 $4,953 $4,953 

Workforce and Succession Planning 34 $0 $4,901 $4,901 

Efficiency Savings 0 $0 (6,355) ($6,355) 

Cyber Security 0 $0 ($1,500) ($1,500) 

Operating Efficiencies 0 $0 ($4,855) ($4,855) 

Subtotal Changes to Base 34 $0 $9,402 $9,402 

FY 2021 Current Services 1,705 $2,080,000 $467,197 $2,547,197 

FY 2021 Estimate 1,705 $2,080,000 $467,197 $2,547,197 

C – Budget Increases and Decreases Description 

Program Decreases............................................................-$197,669,000 / -34 FTE 

Metals Due to Forecasted Increase in Circulating Coin Metal Prices -$30,000,000 / -0 FTE 

FY 2020 forecasted circulating coin production will remain constant at 14.0 billion coins for the 

year. However, metal prices are forecasted to decrease. The net result is an overall decrease to 

circulating coin program costs. 

Metals Due to Forecasted Decrease in Bullion/Numismatic Production -$160,000,000 / -0 FTE 

FY 2020 forecasted demand for the bullion coin program decreased by 7 percent, causing a 

decrease of $200 million in bullion coin program costs. Conversely, numismatic program sales 

are forecasted to increase by 6 percent, causing a nominal increase of $40 million in metal costs. 

The net result of the numismatic and bullion program is an overall decrease in program costs. 

FTE Reduction -$4,097,000 / -34 FTE 

Salary savings will be realized through natural attrition across all directorates. 

 
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Operating Efficiencies -$3,572,000 / -0 FTE 

The Mint will reduce its operating budget by continuing to monitor costs and implement various 

savings strategies. 

Program Increases................................................................. +$7,296,000 / +0 FTE 

FedRAMP Remediation Activities +$4,000,000 / +0 FTE 

The Federal Risk Authorization Management Program (FedRAMP) certification is mandatory 

for cloud providers who wish to provide services to the Federal government. PFS (Priority 

Fulfillment Services), the service provider for the Mint’s OMS II system, has identified system 

gaps that are non-compliant with FedRAMP requirements. In an effort to address these gaps, 

funding is needed to provide remediation solutions to bring PFS and the Mint’s OMS II system 

into compliance. 

Pay Raise (3.1% in 2020) +$3,296,000 / +0 FTE: 

Funds are required for a 3.1% average pay raise in January 2020. 

Maintaining Current Levels (MCLs)..................................................... +$10,856,000 / +0 FTE

Pay Annualization (3.1%) +$1,629,000 / +0 FTE 

Funds are required for annualization of the January 2020 3.1% average pay raise. 

Pay Raise (1.0% in 2021) +$1,588,000 / +0 FTE 

Funds are required for a 1.0% average pay raise in January 2021. 

FERS Contribution Increase +$2,686,000 / +0 FTE 

Funds are required for the Federal Employee Retirement System (FERS) contribution rates 

effective FY 2021. 

Non-Pay +$4,953,000 / +0 FTE 

Funds are required for non-labor expenses such as travel, contracts, rent, supplies, 

and equipment. 

Workforce and Succession Planning......................................... +$4,901,000 / +34 FTE 

Workforce and Succession Planning +$4,901,000 / +34 FTE 

The Mint has implemented initiatives to increase its FTE level. These initiatives include using 

intern programs to transfer knowledge and reduce risks from retirement eligible workforce, fill 

key vacancies more timely, and using flexible hiring authorities to shorten the lengthy hiring 

process where appropriate. 

Efficiency Savings .................................................................................... -$6,355,000 / -0 FTE 

Cyber Security -$1,500,000 / -0 FTE 

The cyber security program will reduce contract spending by insourcing some security 

assessment and authorization (SA&A) and audit management functions. Areas of focus include 

supporting FedRAMP activities in the OMS II program, and conducting risk assessments for 

industrial control systems. 
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Operating Efficiencies -$4,855,000 / -0 FTE 

The Mint will continue to reduce costs through continuous monitoring and implementing cost 

savings strategies as appropriate. These strategies include prioritizing Mint activities to ensure 

operating costs are maintained. 

1.3 – Object Classification (Schedule O) Obligations 

Dollars in Thousands

FY 2019 FY 2020 FY 2021

Object Classification

Actual 

Obligations

Estimated

Obligations

Estimated

Obligations

11.1 - Full-time permanent 130,300 145,071 152,240

11.3 - Other than full-time permanent 0 161 161

11.5 - Other personnel compensation 13,149 11,900 12,000

11.9 - Personnel Compensation (Total) 143,449 157,132 164,401

12.1 - Personnel benefits 49,767 52,018 55,553

13.0 - Benefits for former personnel 71 1,019 1,019

Total Personnel and Compensation Benefits $193,287 $210,169 $220,973

21.0 - Travel and transportation of persons 2,035 2,957 2,957

22.0 - Transportation of things 28,009 21,651 21,400

23.2 - Rental payments to others 11,429 3,086 3,086

23.3 - Communication, utilities, and misc charges 17,141 18,860 18,960

24.0 - Printing and reproduction 1,606 3,366 3,366

25.1 - Advisory and assistance services 64,047 61,486 54,900

25.2 - Other services 22,559 39,931 25,180

25.3 - Other purchases of goods & serv frm Govt accounts 18,647 20,547 20,586

25.4 - Operation and maintenance of facilities 8,091 3,965 3,965

25.5 - Research and development contracts 297 900 900

25.6 - Medical care 958 735 735

25.7 - Operation and maintenance of equip 8,834 7,059 7,059

26.0 - Supplies and materials 17,537 19,003 19,050

26.7 - Raw Materials 1,120,413 2,080,000 2,080,000

31.0 - Equipment 29,156 32,266 52,266

32.0 - Land and structures 11,416 11,814 11,814

Total Non-Personnel 1,362,175 2,327,626 2,326,224

Total Budgetary Resources $1,555,462 $2,537,795 $2,547,197

Full-time Equivalents (FTE) 1,536 1,671 1,705
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D – Appropriations Language and Explanation of Changes 

Appropriations Language Explanation of Changes 

DEPARTMENT OF THE TREASURY 

United States Mint 

Federal Funds 

Pursuant to section 5136 of title 31, United States Code, 

the United States Mint is provided funding through the 

United States Mint Public Enterprise Fund for costs 

associated with the production of circulating coins, 

numismatic coins, and protective services, including both 

operating expenses and capital investments: Provided, 

That the aggregate amount of new liabilities and 

obligations incurred during fiscal year [2020] 2021 under 

such section 5136 for circulating coinage and protective 

service capital investments of the United States Mint shall 

not exceed [$30,000,000] $50,000,000. (Department of 

the Treasury Appropriations Act, 2020.)

 

The increased capital limit 

will provide capital 

investment purchasing 

flexibility to procure the 

necessary equipment for 

production, safety, security, 

and technology 

improvements. 

 

For more detailed information, please reference Section III p. 14. 

E – Legislative Proposals 

Capital Legislative Increase 

The Mint’s investments in capital are a critical part of regular manufacturing operations. To 

continue effective coin production, equipment replacements and facility maintenance is 

mandatory. Over time, the legislative limit on the Mint’s capital budget has proven insufficient. 

Rather than upgrading and replacing worn and obsolete equipment as needed, under the current 

funding limit, capital projects must be prioritized and funded based on budget availability. This 

process has caused many needed projects to be postponed to out-years. Continuing to defer 

replacement of equipment presses, for example, creates the risk of additional downtime due to 

unexpected failures. This could substantially impact production schedules. Deferred replacement 

of presses also creates a cost risk associated with contracting the manufacturer to make 

emergency repairs. As such, the Mint’s need for capital investments becomes more critical each 

year. The current limitation of $30 million for circulating and protection capital is below the 

amount needed to meet capital investment requirements. 

The bureau has identified an urgent need to increase its legislative limit by $20 million. This 

will raise the current limit from $30 million to $50 million beginning in FY 2021. The increased 

capital limit will allow the Mint to execute a comprehensive capital investment strategy that 

focuses on safety, equipment replacements, protection, and facility improvements (see additional 

details in Section III). 

Alternative Metal Composition 

This proposal would give the Secretary the authority to prescribe the compositions of the 5-cent, 

dime, and quarter-dollar coins, provided that the new metal compositions do not affect the 

Electromagnetic Signature (EMS), the color, and weight of the coins. By authorizing the 

Secretary the flexibility and agility to implement small changes to the copper-nickel circulating 
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coin metal compositions, the Mint could realize incremental material savings with little or no 

impact to the vending industry and general public. 

New Proposal: Circulating Commemorative Coin Redesign 

Estimated revenue: Approximately $8 billion over the life of the program, depending on 

program specifics 

Circulating commemorative coin programs are very popular and generate significant revenue for 

the United States Mint and ultimately the general fund of the Treasury. To better advance the 

hobby of collecting coins and medals, the Mint requires authority for circulating 

commemorative programs that are shorter term in nature; are based on subject matter that will 

drive the program through sustainable, recognizable, and relatable themes; and that can appeal to 

a broad range of Americans and attract new collectors, especially youth. 

The proposed Circulating Commemorative Coin Redesign Act (CCCRA) proposes new 

circulating and numismatic programs. In particular, the CCCRA would introduce a new quarter 

and half dollar program following the current America the Beautiful (AtB) Quarters Program, 

which will end in 2021. Because the AtB Quarters Program is scheduled to be discontinued in 

2021, authorizing new circulating commemorative coin programs will contribute to the longevity 

and long-term growth of the Mint, serve the public interest, and deliver increased revenue to the 

Mint and the Department of the Treasury General Fund that otherwise may not be realized. 

The Mint is proposing a new series of themes for circulating coins as a compelling way to 

engage young collectors and grow the Mint’s circulating and numismatic revenue. The themes 

proposed are quarter dollars and half dollars that represent historical milestones. 
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Section II – Annual Performance Plan and Report 

A – Strategic Alignment 

The Mint aligns with the following Department of the Treasury FY 2018-2022 strategic plan 

goals: 

 Goal 1: Boost U.S. Economic Growth 

o Objective 1.3 Trusted Currency and Services: Deliver trusted currency and services 

that enable citizens and businesses to participate in the economy. 

 Goal 5: Achieve Operational Excellence 

o Objective 5.1 Workforce Management: Deliver trusted currency and services that 

enable citizens and businesses to participate in the economy. 

o Objective 5.2 Treasury Infrastructure: Better enable mission delivery by improving the 

reliability, security, and resiliency of Treasury’s infrastructure. 

o Objective 5.3 Customer Value and Experience: Enhance the experience of interacting 

with Treasury by providing high quality products and services and by delivering 

excellent customer service. 

Circulating Coinage Program 

Circulating coinage includes the minting and issuing of pennies, 5-cent coins, dimes, and quarter 

dollars. The Mint delivers circulating coinage to the FRBs in quantities to support their service 

to commercial banks and other financial institutions. These financial institutions then meet the 

coinage needs of retailers and the public. The Mint recognizes revenues from the sale of 

circulating coins at face value when they are shipped to the FRBs. 

The Mint will continue to mint and issue circulating quarter-dollar coins honoring America’s 

national parks and other national sites, in accordance with the America the Beautiful National 

Parks Quarter Dollar Coin Act of 2008 (Public Law 110-456). In 2020, the Mint will release 

quarters honoring National Park of American Samoa (American Samoa), Weir Farm National 

Historic Site (Connecticut), Salt River Bay National Historical Park and Ecological Preserve 

(United States Virgin Islands), Marsh-Billings-Rockefeller National Historical Park (Vermont), 

and Tallgrass Prairie National Preserve (Kansas). In 2021, the program will end with one final 

quarter honoring Tuskegee Airmen National Historic Site (Alabama). 

Numismatic Program 

Bullion Coins 

The Mint produces and issues gold, silver, platinum, and palladium bullion coins to authorized 

purchasers through the American Eagle, American Buffalo, and America the Beautiful Silver 

Bullion Coin Programs. The authorized purchasers agree to maintain an open, two-way market 

for these coins, ensuring their availability for consumers who desire them for investment 

portfolios. Demand for bullion coins is greatly influenced by the performance of other 

investment options, such as equities or currency markets, and therefore is highly unpredictable. 

The content and purity of the precious metal in the bullion coins are backed by the United States 

Government. 
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Other Numismatic Products 

The Mint’s numismatic program provides high-quality versions of circulating coinage, precious 

metal coins, commemorative coins, and national medals for sale directly to the public. For some 

numismatic products, authorizing legislation specifies program requirements, such as design 

theme, mintage level, and duration of product availability. Other programs are structured by law 

to grant the Secretary of the Treasury discretion in determining product specifications. 

The Mint will continue to mint and issue $1 coins commemorating the important contributions 

made by Indian tribes and individual Native Americans to the development and history of the 

United States in accordance with the Native American $1 Coin Act (Public Law 110-82). In 

addition, the Mint started the American Innovation $1 Coin Program (Public Law 115-197) in 

2018. This is a multi-year $1 coin series to honor innovation and innovators for each of the 50 

states, the District of Columbia and the five U.S. territories – Puerto Rico, Guam, American 

Samoa, the United States Virgin Islands, and the Commonwealth of the Northern Mariana 

Islands. Four new $1 coins with distinctive reverse designs will be released each year through 

2032, in the order the states ratified the Constitution of the United States or were admitted to the 

Union. Once a coin is issued for each state, coins will be released for the District of Columbia 

and the territories. 

Commemorative coins are authorized by law to recognize and honor people, places, events, 

institutions, and other subjects of historic or national significance. Each coin is minted and 

issued by the Mint in a limited quantity and is available only for a limited time. Included in the 

price is a surcharge that is authorized to be paid to the designated recipient organizations, 

assuming all legal requirements have been met. Recipient organizations must use the proceeds 

for the purposes specified in the enabling legislation. In 2021, the Mint has authorization to mint 

a commemorative coin honoring Christa McAuliffe (Public Law 116-65). 

B – Budget and Performance by Budget Activity 

2.1.1 – Manufacturing Resources and Measures 

Dollars in Thousands FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 

 Resource Level Actual Actual Actual Actual Actual Estimate Estimate 

Expenses/Obligations $2,937,55

3 

$3,272,10

6 

$2,203,90

9 

$1,424,77

0 

$1,555,46

2 

$2,537,79

5 

$2,547,19

7 

Budget Activity Total $2,937,55

3 

$3,272,10

6 

$2,203,90

9 

$1,424,77

0 

$1,555,46

2 

$2,537,79

5 

$2,547,19

7 

Full-time Equivalents (FTE) 1,657 1,695 1,645 1,545 1,536 1,671 1,705 

The FY 2015 - FY 2019 columns represent realized resources for full-time equivalents, reimbursables, and user fees.

 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 

2019 FY 2020 FY 2021 

Measure Actual Actual Actual Actual Actual Target Target Target 

Customer Satisfaction Index (%) 89.5 91 91.7 93.6 93.6 90.0 90.0 90.0 

Numismatic Sales Units (Million 

Units) 5.4 4.2 3.9 3.3 4.3 3.9 3.8 3.0 

Safety Incident Recordable Rate 3.42 2.53 1.96 1.90 1.45 2.39 2.32 2.25 

Seigniorage per Dollar Issued ($) 0.49 0.52 0.45 0.37 0.40 0.36 0.36 0.36 

 
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Manufacturing Budget and Performance 

($2,547,197,000 from offsetting collections) The Mint will mint and issue circulating coins and 

produce numismatic products, including bullion, to meet demand. 

Description of Performance: 

Several key performance measures are used to gauge the bureau’s progress in achieving its 

strategic goals and to assess its Manufacturing Budget Activity performance. 

Customer Satisfaction Index (CSI) 

The Mint conducts a quarterly survey of a random sample of active numismatic customers. The 

survey is intended to capture customer satisfaction with the Mint’s service performance as a coin 

products supplier and with the quality of specific products. The CSI metric is a quantitative 

score summarizing the survey’s results into one consolidated value. This metric gauges 

performance results in the effort to achieve the Mint’s internal strategic plan goal, “Improve 

mission critical activities and governance,” and the Mint’s internal strategic objective linked to 

this goal, “Drive a customer-centric organization.” This also aligns with the Treasury 

Department strategic objective linked to this goal, “5.3 Customer Value and Experience.”

In FY 2019, the CSI was 93.6 percent, exceeding its 90.0 percent target. The Mint was able to 

exceed its target by providing high-quality products, adding innovative features, and improving 

the Mint’s customer loyalty program. The Mint anticipates that the CSI will remain steady and, 

thus, has set the target at 90.0 percent for FY 2020 and FY 2021. 

Numismatic Sales Units 

The numismatic sales unit metric measures public demand for coin products sold from 

numismatic operations. This metric also measures performance results achieving the Mint’s 

internal strategic plan goal, “Improve mission critical activities and governance” and the Mint’s 

internal strategic objective linked to this goal, “Drive a customer-centric organization.” This 

also aligns with the Treasury Department strategic objective linked to this goal, “5.3 Customer 

Value and Experience.”

Numismatics product sales for FY 2019 totaled 4.3 million units, exceeding the 3.9 million 

target. The Mint’s numismatic unit sales grew substantially in FY 2019, driven by the popular 

Apollo 11 program, but the environment for numismatic sales overall remains challenging. The 

performance target for numismatic sales units is 3.8 million for FY 2020 and 3.0 million for FY 

2021. Targets are representative of the programs for that year. Therefore, targets vary year over 

year. To meet these targets, the Mint will continue to provide high-quality products and maintain 

outstanding customer service, and deepen engagement with coin collectors. 

Safety Incident Recordable Rate

The safety incident recordable rate is the number of injuries and illnesses meeting the 

Occupational Safety and Health Administration recording criteria per 100 full-time workers. It 

measures the occurrence of work-related incidents involving death, lost-time and restricted work, 

loss of consciousness, or medical treatment. The safety incident recordable rate indicates 

performance results in the effort to achieve the Mint’s internal strategic plan goal, “Foster a safe, 
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flexible, diverse, and engaged workforce,” and the corresponding Mint internal strategic 

objective linked to this goal, “Continue to cultivate a safe working environment.” These also 

align with the Treasury Strategic Goal “5.1 Workforce Management.”

In FY 2019, the total recordable case rate reached 1.45, well below the Mint’s 2.39 FY 2019 

target, and significantly below the most recent industry average rate of 4.9 for comparable 

private sector manufacturing operations. During FY 2019, the Mint continued implementing and 

updating risk management guidelines to prioritize resources and mitigate risks in advance of 

injuries or catastrophic events at each plant. Mint facility leadership and employees continue to 

interact on a daily basis on the importance of safety. The performance targets for the safety 

incident recordable rate are 2.32 for FY 2020 and 2.25 for FY 2021. 

Seigniorage per Dollar Issued 

Seigniorage per Dollar Issued is the financial return on circulating operations, calculated as 

seigniorage divided by the total face value of circulating coins shipped to the FRBs. Seigniorage 

is the difference between the face value and cost of producing circulating coinage. It measures 

the cost effectiveness of minting and issuing the United States’ circulating coinage. It also 

measures performance results in achieving the Mint’s internal strategic plan goal, “Improve 

mission critical activities and governance,” as well as the Mint’s internal strategic objective 

linked to the goal, “Improve mission critical activities and governance.” This also aligns with 

the Treasury Strategic Goal “1.3 Trusted Currency and Services.” At the end of FY 2019, 

Seigniorage per Dollar Issued was $0.40, above the FY 2019 performance target of $0.36. The 

FY 2019 increase is a result of lower metal costs for all denominations. The Seigniorage per 

Dollar Issued performance targets are set at $0.36 for both FY 2020 and FY 2021. 

C– Evidence-Building Activity 

United States Mint Evidence-Based Activities 

The United States Mint complies with the requirements of the Foundations for Evidence-Based 

Policymaking Act of 2018, Public Law 115-435. As the Nation’s sovereign coin manufacturer 

that enables commerce and financial stability, the Mint values service, quality, and integrity, 

while using modern manufacturing practices with increasing operational effectiveness. Like 

other world-class manufacturing organizations, the Mint drives improvements with data, metrics, 

and evidence along four operational activities—namely, safety in the work environment, quality 

products, on-time delivery to our customers and cost management. Over the last five years, the 

Mint completed an average of fifteen data-driven projects per year. Projects used charters, 

measurement system analysis, process maps, cause and effect matrices, failure mode analysis 

and design of experiments. The projects yield safer work places, higher customer satisfaction, 

lower cost and higher quality. To sustain improvements, the Mint conducts Management 

Reviews and internal audits to follow a Plan-Do-Check-Act System to evaluate and adjust our 

activities based upon the evidence outcomes. 

Lean Six Sigma 

To achieve greater effectiveness, the Mint uses Lean Manufacturing, Six Sigma, and Enterprise 

Risk Management methods. These three key methods or approaches empower all employees at 

the Mint to improve the bureau in statistical, data-driven ways. Over the last five years, the Mint 

completed an average of fifteen data-driven projects per year. Projects used charters, 
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measurement system analysis, process maps, cause and effect matrices, and failure mode 

analysis. The projects yield safer work places, higher customer satisfaction, lower cost, and 

higher quality. To sustain improvements, the Mint conducts Management Reviews and internal 

audits to follow a Plan-Do-Check-Act System to evaluate and adjust our activities based upon 

the evidence outcomes. 

Numismatic Program 

The Mint has employed Evidence-Based decision making to the Numismatic and Bullion 

Program. In late 2018, the Mint initiated an in-depth review of existing and potential future 

customer base and the types of products and marketing that would attract both groups. Out of 

this exercise, the Mint developed a five-year Sales and Marketing Plan (2020 - 2024), which will 

be used to inform the decision making process around new product development, sales and 

marketing activities, and new coin programs. Concurrent to this exercise, the Mint used real 

time market research and many of the insights gained from the holistic look at the program to 

develop and propose new coin programs and associated legislation moving into 2022-2030. 

Section III – Additional Information 

A – Summary of Capital Investments 

The Mint’s capital investment requirements are predominantly for manufacturing-type 

equipment. Capital investments, along with its operating expenses, are paid out of the Mint’s 

PEF. Current annual appropriations legislation caps the aggregate amount of new liabilities and 

obligations incurred during a fiscal year for capital investments in circulating coinage operations 

and protective service at $30 million. 

The Mint's manufacturing capital investment projects focus on safety, equipment replacement, 

protection, and facility improvements. 

In addition, the Mint’s capital investments encompass a robust information technology (IT) 

portfolio of investments and programs that modernize and secure the bureau’s infrastructure. 

The bureau’s governance structures ensure that the IT portfolio is managed in accordance with 

cost, schedule, risk, and performance goals, and that expected results and benefits are achieved. 

Enterprise architecture reviews assess and reinforce alignment to the bureau’s strategic plan and 

the strategic enterprise direction of the Department of the Treasury. 

In accordance with the Statement of Federal Financial Accounting Standard (SFFAS) No. 6, the 

Condition Index and the Deferred Maintenance assessments for purposes of Federal Real 

Property Profile, the Mint has no deferred maintenance for its equipment. Maintenance is 

scheduled and performed regularly to keep the manufacturing equipment operating at optimal 

levels. 

Proposal: Capital Investments Increase 

The Mint’s need for capital investments is a critical part of regular ongoing manufacturing 

operations. Capital costs do not remain constant but increase over time. Therefore, a static capital 

limit does not allow the systematic replacement of production equipment and/or proper 

maintenance of Mint facilities. Because of this, the Mint is proposing to increase its legislative 

limit to $50 million in FY 2021. 
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The current $30 million capital limit impacts the bureau’s ability to efficiently procure the 

equipment necessary for effective production operations by delaying projects to out-years. As a 

result, some production equipment is past its useful life. Continuing to defer needed equipment 

purchases could cause equipment such as steam heat exchangers to experience catastrophic 

failures in the form of pipe bursts if not properly replaced on schedule. Ventilation deficiencies 

could cause carbon monoxide buildup and other occupancy issues. The increased capital limit 

will allow the Mint to execute a comprehensive capital investment strategy that addresses these 

and other issues. 

Currently, the Mint has a detailed ten-year plan that is a living document in constant update and 

use. The plan lists individual projects annually over a ten-year period. However, during the year, 

as emergent needs arise and/or when planned projects are no longer applicable (i.e. 

increased/reduced production capacity, old technology replaced by new methods or production 

practices change), changes are made to the plan and serves as the basis for subsequent years’ 

capital plans. Internal reviews are conducted to ensure that all desired projects are listed and 

prioritized, as each year’s requirements continue to exceed our funding level. Throughout the 

year, the project list is scrutinized and reprioritized as higher priority projects emerge. 

The detailed master plan is summarized by source of funds – Circulating/Protection and 

Numismatic – and the following categories: ESHE (Environmental, Safety, Health and Energy), 

Improvements, Equipment, Facility, Protection, and Information Technology. The table below 

reflects the current plan by category. 

**The Mint’s capital investment plan if legislation were approved to increase the limit to $50 million in FY 2020. 

 

Environment, Safety, Health & Energy (ESHE) 

This is our highest priority category and consists of projects that have a direct impact on the 

health and safety, environment and energy savings of the manufacturing facilities. Because 

ESHE is our highest priority, these projects tend to be approved ahead of other categories, 

leaving this category with few unfunded projects. Typical investments include: 

 Multi-year projects to improve the seismic survivability of a 1935 building 

 Waste water treatment upgrades 

 Platform and ladder safety improvements 

 
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Improvements 

This is our lowest priority and are projects identified by the manufacturing sites which would 

enhance or provide different production capabilities. These do not include incremental capacity 

or capability increases, but include: 

 Hydraulic stamping press 

 Ready to strike blank preparations 

 Flexible robotic packaging system 

 Ultrasonic cleaner for precious metal blanks 

Equipment 

Projects under this category are to sustain our current production capabilities and capacities. It 

includes replacement of equipment that is beyond its useful life and creates increased downtime 

and maintenance costs, can no longer be supported by the OEM for repair parts, or electronic 

component obsolescence. Some project examples include: 

 Blanking press replacements 

 Circulating stamping press replacements 

 Circulating furnace line replacement 

 Coin counters 

 Proof press replacements 

 Replacement die coating system (used for proof polish dies) 

 Replacement die shop equipment – machine centers, grinders, lasers and heat treatment 

furnaces 

 Replacement packaging line (uncirculated sets) 

 Spaleck burnishers 

 Replacement cartoning line 

Facility 

These are projects related to maintaining the four manufacturing sites in good repair and 

condition. They include the building, roof, elevators and utility systems such as electrical, piping 

and HVAC, as well as: 

 Power system replacement 

 Elevators 

 Replace compressed air system and piping 

 HVAC replacement 

 Steam condensate piping replacement 

 Facility renovations (restrooms, locker rooms and offices) 

Protection 

Projects include the protection of Mint employees and assets, including gold and silver reserves, 

through the use of state-of-the-art security equipment and technology for essential protection 

functions such as access control, intrusion detection, and surveillance of property. Projects also 

include building and grounds improvements. Protection projects include: 

 Employee entrance remodel 

 Perimeter bollards 
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 Observation post 

 X-ray machines 

 Radar intrusion detection 

Information Technology 

The Mint’s Information Technology plan includes projects required to support the Mint’s 

business initiatives, and maintain and upgrade the current infrastructure capabilities, such as: 

 Riverbed Wide Area Network (WAN) Optimizer 

 Network Security/Data Center storage replacement 

 Uninterrupted Power Supply (UPS) upgrade 

 Mobile App development and roadmap 

A summary of capital investment resources, including major information technology and nontechnology investments can be found at: 

https://www.treasury.gov/about/budget-performance/Pages/summary-of-capitalinvestments.aspx.