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Overview

Mission Statement

The mission of the United States Mint is to manufacture and distribute circulating coins, precious 

metal and collectible coins, and national medals to meet the needs of the United States.

Program Summary by Budget Activity

Dollars in Thousands

FY 2010 FY 2011 FY 2012 Change FY10 to FY12

Actual Estimated Estimated $ Change % Change

 Manufacturing $3,602,988 $2,457,862 $2,515,589 ($1,087,399) (30.2%)

 Protection $43,979 $51,016 $0 ($43,979) (100.0%)

Total Operating Resources $3,646,967 $2,508,878 $2,515,589 ($1,131,378) (31.0%)

Capital Investments $23,794 $30,830 $30,296 $6,502 27.3%

Total Resources $3,670,761 $2,539,708 $2,545,885 ($1,124,876) (30.6%)

Total FTE 1,778 1,873 1,873 95 5.3%

The Department of the Treasury is eliminating the Protection budget activity and consolidating it into the 

Manufacturing budget activity beginning in FY 2012.

FY 2012 Priorities

 Circulating - Efficiently and effectively produce and distribute approximately 9.6 billion 

circulating coins in FY 2012 to meet the needs of commerce, an important strategic objective 

for the Department of the Treasury. Honor national parks and other national sites through 

effective administration of the United States Mint America the Beautiful Quarters Program in 

compliance with the America’s Beautiful National Parks Quarter Dollar Coin Act of 2008. 

 Bullion - Prepare and distribute bullion coins while employing precious metal purchasing 

strategies that minimize or eliminate the financial risk that can arise from adverse market 

price fluctuations. 

 Numismatic - Prepare and distribute numismatic products in sufficient quantities to make 

them accessible, available, and affordable to people who choose to purchase them. Design, 

strike and prepare for presentation Congressional gold medals and commemorative coins as 

required by law.

 Protection - Continue to secure over $320 billion in market value of the nation’s gold 

reserves, silver and other assets.
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Table of Contents

Overview ........................................................................................................................................ 1

Mission Statement....................................................................................................................... 1

Program Summary by Budget Activity....................................................................................... 1

Section 1 – Purpose ....................................................................................................................... 3

1A – Description of Bureau Vision and Priorities ...................................................................... 3

1B – Program History and Future Outlook ................................................................................. 5

1C – Industry Outlook................................................................................................................. 8

Section 2 – Budget Adjustments and Appropriation Language............................................... 9

2.1 – Budget Adjustments Table ................................................................................................. 9

2A – Budget Increases and Decreases Description..................................................................... 9

2.2 – Operating Levels Table .................................................................................................... 11

2.3 – Resource Detail Table ...................................................................................................... 12

2B – Appropriations Language and Explanation of Changes................................................... 13

2C – Legislative Proposals........................................................................................................ 13

Section 3 – Budget and Performance Plan ............................................................................... 14

3.1 – Budget by Strategic Outcome .......................................................................................... 14

3.2.1 Manufacturing Budget and Performance Plan ................................................................. 16

3.2.2 Protection Budget and Performance Plan......................................................................... 18

Section 4 – Supporting Materials .............................................................................................. 19

4A – Human Capital Strategy Description................................................................................ 19

4.1 – Summary of IT Resources Table...................................................................................... 22

4B – Information Technology Strategy..................................................................................... 23

Capital Investments................................................................................................................... 24
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Section 1 – Purpose

1A – Description of Bureau Vision and Priorities

The United States Mint supports the Department of the Treasury’s strategic objective to promote 

trust and confidence in U.S. currency worldwide by enabling commerce through safe, secure 

U.S. notes and coins. To do this, the United States Mint manufactures and delivers domestic 

circulating coinage, bullion coin products, numismatic coinage and national medals. The United 

States Mint provides security for assets, including the government’s reserves of gold bullion, 

silver bullion, coins and coinage metals.

The United States Mint is the world’s largest coin manufacturer with operations in California, 

Colorado, Kentucky, New York, Pennsylvania and Washington, D.C. The United States Mint is 

committed to achieving efficient operations and providing value to the American people. Its 

vision is “to be recognized as the finest mint organization in the world, through excellence in our 

people, products, customer service and workplace.” 

Priorities

The priorities for the United States Mint are organized around three primary responsibilities: 

enabling commerce by minting and issuing circulating coinage; manufacturing, marketing and 

selling bullion products; and manufacturing, marketing and selling numismatic products. The 

United States Mint is also responsible for protecting and safeguarding the Nation’s gold reserves, 

silver and other assets held in United States Mint custody.

During its annual strategic planning cycle, the United States Mint establishes annual action 

items, and implements work plans to make continuous progress in achieving objectives and 

goals. This approach allows budgets, employees’ work objectives, and performance plans to be 

linked to desired outcomes. Employing this strategic framework, the United States Mint gauges

its progress more effectively and communicates the results to the American public. Strategic 

priorities include multi-year initiatives to ensure long-term operational goals are efficiently and 

effectively achieved. The United States Mint’s strategic priorities for FY 2012 include 

implementation of employee development training to further develop employee skills while also 

appropriately rewarding individual and collective accomplishments.

 

Circulating

The United States Mint is the Nation’s sole manufacturer of legal tender coinage. The efficient 

and effective production and distribution of circulating coinage for the Nation to conduct trade 

and commerce is the United States Mint’s highest priority.

In April 2010, the United States Mint launched the America the Beautiful Quarters Program, a 

12-year initiative to honor national parks and other national sites from all 50 states, the District 

of Columbia and U.S. territories. In accordance with the America’s Beautiful National Parks 

Quarter Dollar Coin Act of 2008 (P. L. 110-456), the United States Mint will issue five quarters 

each year with different national sites depicted on the reverse, in the order which the selected 

locations were first established as national sites. The United States Mint is committed to 
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effective administration of the America the Beautiful Quarters Program with the goal of 

generating similar results to its successful predecessor, the 50 State Quarters®Program.

Bullion

The United States Mint, the world’s largest producer of gold and silver bullion coins, is 

committed to producing and distributing bullion coins and employing precious metal purchasing 

strategies that minimize or eliminate the financial risk that can arise from adverse market price 

fluctuations. In particular, gold prices have steadily climbed over time, recently peaking at over 

$1,400 per ounce. This reflects the volatility of precious metal prices, which tend to rise during 

unstable economic conditions, and decline in steadier, healthier economic environments. 

Numismatic

The United States Mint prepares and distributes numismatic products for collectors and other 

members of the public who desire high-quality versions of the Nation’s coinage. Making

numismatic products accessible, available, and affordable to people who choose to purchase 

them is the highest priority of the United States Mint’s numismatic operations. 

As required by legislation, the United States Mint designs, strikes and prepares for presentation 

Congressional gold medals and commemorative coins to officially honor people, places and 

events. In FY 2012, the United States Mint will produce the United States Army 

Commemorative Coin (P.L. 110-450).

Going Green

Producing circulating, bullion, and numismatic coins and medals is an energy intensive process. 

The United States Mint is in full support of the Department of the Treasury’s commitment to 

comply with environmental and energy statutes, regulations, and executive orders. Accordingly, 

the United States Mint plans the following “Green” initiatives: 

 Comprehensive energy audits and retro-commissioning of its manufacturing facilities;

 Energy reduction projects;

 Increased use of renewable energy where possible; and 

 Undertaking Leadership in Energy and Environmental Design (LEED) and Energy Star 

certification for leased building and owned property where feasible.

The United States Mint headquarters in Washington, D.C. is working to achieve Energy Star

Certification. By making small changes like replacing light switches with motion sensors and 

converting to automatic paper towel dispensers (which halved paper towel usage), the 

headquarters building is experiencing significant savings. The headquarters building’s cleaning 

contractor only uses “green” materials (such as recycled paper products and environmentally 

friendly cleaning products), and its construction contractors are required to use green products 

when feasible. By adding weather stripping, insulation and energy efficient light bulbs, the 

United States Mint saves money and is reducing its carbon footprint. In FY 2010, the 

headquarters building total savings from “Green” initiatives totaled $196,000.
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The United States Mint is making a concerted effort to convert its Denver facility to greener 

energy by contracting with an energy provider that employs wind and solar energy rather than 

fossil fuels. When fully implemented, this 100 percent renewable energy purchase is targeted to 

reduce greenhouse gas (GHG) emissions by 14.72 percent.

The Denver and Philadelphia field sites are implementing an energy retrofit to install low 

pressure steam boilers. These are targeted to reduce costs and provide cleaner energy output. 

Conversion from purchased steam to site generated steam reduces GHG emissions by 12.23 

percent.

After completing a study of the West Point facility, the United States Mint is working to bring 

the West Point building into compliance with LEED certification standards. The LEED system 

helps building owners measure operations, improvements and maintenance on a consistent scale, 

with the goal of maximizing operational efficiency while minimizing environmental impacts. 

LEED standards also address whole-building cleaning and maintenance issues (including 

chemical use), recycling programs, exterior maintenance programs and systems upgrades. 

1B – Program History and Future Outlook

Since FY 1996, the United States Mint has operated under the United States Mint Public 

Enterprise Fund (PEF). As authorized by Public Law 104-52 (codified at 31 U.S.C. § 5136), the 

PEF eliminates the need for appropriations. Proceeds from the sales of circulating coins to the 

Federal Reserve Banks (FRB), bullion coins to authorized purchasers, and numismatic items to 

the public are paid into the PEF, providing a continuous source of funding. All operating 

expenses and capital investments incurred for the United States 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 over and above costs are transferred to the United States Treasury General Fund as 

off-budget and on-budget receipts. Off-budget receipts consist of seigniorage, the net return 

from circulating operations, which in the federal budget is used to reduce needed borrowing by 

the government, resulting in a reduction in interest on the federal debt from the borrowing it 

displaces. The net return from bullion and numismatic program operations are recorded as onbudget receipts in the federal budget, and are used to fund Federal Government operations and 

programs.

The United States Mint’s budget receipts and outlays reflect the demand for and sales of 

circulating, bullion and numismatic coin products. In accordance with the PEF legislation, 

proceeds from sales provide the United States Mint’s funding source, fully covering budget 

outlays, which adjust as the necessary resources are engaged to fulfill prevailing demand. The 

vast majority (approximately 88 percent in FY 2010) of budget outlays are for procurement of 

metals and materials for conversion into finished goods. Accordingly, the value of each fiscal 

year’s budget outlays principally reflects the production volumes that correspond to prevailing 

demand as well as prevailing raw material purchase costs driven by prices on open commodities 

markets. The economic environment can significantly impact the United States Mint’s budget 

outlays by affecting these two external factors. 

Circulating: Beginning in FY 2009, slowing economic activity considerably reduced demand for 

circulating coins. Commercial banks and other financial institutions curtailed orders for coins 
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and returned excess coins to the FRB. The FRB decreased orders for newly minted coins in 

response to these conditions. As a result, circulating coin volumes fell sharply in FY 2009 and 

remained low in the first half of FY 2010. In response, the United States Mint opted not to 

renew appointments for temporary personnel and instituted a hiring freeze which resulted in a 

reduction of 53 personnel through attrition and approximately $5 million in cost savings. 

However, reductions in labor expenses only slightly offset rising metal expenses. FRB orders 

rebounded in the second half of FY 2010 and as a result the United States Mint began rehiring 

some temporary employees to meet demand. Total circulating revenue declined 20.5 percent to 

$618.2 million in FY 2010 from $777.6 million in FY 2009. 

While circulating volumes and revenue declined, market prices for base metals (copper, nickel 

and zinc) climbed from five-year lows in FY 2009 to levels near the high price ranges 

experienced in FY 2007. This increased expenses for fabricated blanks and strip for circulating 

coin production, eroded seigniorage and drove up unit costs for all denominations. The average 

daily spot price for copper and zinc increased 56.9 percent and 52.4 percent, respectively, from 

FY 2009 to FY 2010. The average daily spot price for nickel rose 55.8 percent over the same 

time period. Seigniorage per dollar issued fell nearly 11 percent to $0.49 in FY 2010 from $0.55

in FY 2009. Base metal expenses and the mix of circulating coin denominations ordered by the 

FRB largely determine seigniorage per dollar issued. The total unit cost for all denominations 

increased from FY 2009. The unit cost to produce the one-cent coin (penny) and 5-cent coin 

(nickel) denominations were $0.0162 and $0.0603 respectively in FY 2009. In FY 2010, onecent coin unit costs were $0.0179 and the 5-cent coin unit costs were $0.0922, remaining above 

face value for the fifth consecutive fiscal year.

Improving economic conditions, particularly strong growth in retail sales activity, prompted 

stronger demand for circulating coins beginning in mid-FY 2010. Shipments to the FRB in the 

second half of FY 2010 were three times those in the first half of the fiscal year. While 

beneficial to the United States Mint’s financial position, such extreme shifts in orders for coins 

present challenges to the United States Mint’s circulating production operations. The United 

States Mint attempts to smooth out production as much as possible, but the volatile nature of 

coin demand often impedes level-loaded production. Over the past five fiscal years, monthly 

shipments have ranged from an average low of 650 million coins to an average high of nearly 1.5 

billion coins. This is equivalent to going from a 7.8 billion coin annual run rate to a nearly 17.6 

billion coin run rate. Fluctuations in coin demand are also unpredictable and can occur with little 

notice. This was particularly apparent in FY 2010 as the FRB’s 12-month orders forecast 

fluctuated between a low of 2.7 billion coins and a high of 7.3 billion coins. To mitigate 

volatility in coin demand and the burden it imposes on labor and equipment, the United States 

Mint is focused on developing a more flexible workforce, increasing automation, equipment 

standardization and application of Lean Manufacturing principles.

Based on the FY 2011 OMB President’s Budget estimates for economic indicators, the United 

States Mint projects circulating shipments to the FRB will increase slightly to 6.6 billion coins in 

FY 2011 and 9.6 billion coins in FY 2012. However, most of the volume increase will consist of 

lower denomination coins as the FRB has accumulated inventories of higher denominations 

sufficient to fulfill the majority of demand in upcoming years. This shift in the composition of 

circulating shipments toward lower denominations weakens the financial impact of improving 
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demand conditions because lower denominations generate less seigniorage. Higher penny and 

nickel volumes reduce seigniorage as these coins will continue to be manufactured at costs above 

face value. 

Metal market prices are expected to hold at higher levels as the global economy improves. A 

strategy to mitigate the challenge of rising metal prices is to change the composition of all 

circulating coinage to less expensive materials. Accordingly, as a result of the passage of The 

Coin Modernization, Oversight, and Continuity Act of 2010 (P.L. 111-302), the Department of 

the Treasury has been granted legislative authority to examine options for alternative materials 

that would ultimately result in significant taxpayer savings without compromising the utility of 

coins. This legislation authorizes the Secretary to conduct, explore, analyze, and recommend to 

Congress new, less expensive materials for all circulating coins. Specifically, the Secretary is 

granted authority to conduct research and development into new, less expensive materials based 

on factors that he determines to be appropriate. These factors include, but are not limited to, the 

physical, chemical, metallurgical and technical characteristics of the coins, as well as any other 

factors necessary to ensure coinage utility and integrity. 

Shipments of quarter and $1 coin denominations will remain at lower levels to support the 

America the Beautiful Quarters, Presidential $1 Coin and Native American $1 Coin programs. 

Even at relatively small quantities, shipments of the $1 coin highly influence total circulating 

revenue and seigniorage. The $1 coin generated 67 percent of total circulating revenue in FY 

2010. The United States Mint’s $1 Coin Direct Ship and Bulk Bag Programs contributed to 

these results by providing alternative channels for banks, small retailers and the public to obtain 

$1 coins. These two programs generated $92.8 million of revenue in FY 2010.

Bullion: In FY 2010, demand for the United States Mint’s gold and silver bullion coins reached a 

new high, surpassing the unprecedented demand of FY 2009. Bullion sales totaled 35.8 million 

ounces in FY 2010, up 29.7 percent from 27.6 million total ounces in FY 2009. The United 

States Mint achieved record sales by working extensively with suppliers to significantly expand 

precious metal planchet supply. Accordingly, bullion revenue reached a record high of $2,855.4

million, a $1,160.6 million (68.5 percent) increase over FY 2009 total bullion revenue of 

$1,694.8 million. Efficient use of production capacity allowed the United States Mint to achieve 

significant bullion production volume without incurring additional operating costs. The United 

States Mint expects demand for bullion coins to remain strong for a sustained period until 

economic conditions stabilize and investors are drawn toward alternative investments.

The United States Mint was mandated to mint and issue American Eagle gold and silver bullion 

coins in quantities sufficient to meet public demand. When demand soared to unprecedented 

levels, the bureau worked extensively with suppliers and maximized production capacity to 

fulfill this mandate. While enabling the United States Mint to achieve record bullion coin sales, 

these efforts negatively affected numismatic sales and customer satisfaction levels. To mitigate 

this challenge, the bureau sought and has been granted legislative authority through passage of 

The Coin Modernization, Oversight, and Continuity Act of 2010 (P.L. 111-302), which permits 

the Secretary of the Treasury to mint and issue proof and uncirculated versions of the American 

Eagle coins in qualities and quantities the Secretary determines are appropriate to meet demand. 
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Offering for sale the full range of numismatic products fosters the health of the marketplace for 

numismatic customers in the United States.

Numismatic: In FY 2010, numismatic revenue totaled $413.1 million, down 6 percent from 

$440.0 million in FY 2009. The slight decline in revenue reflects that fewer product lines were 

available for sale in each year. Additionally, poor economic conditions may have suppressed 

consumer spending on collectibles as sales of available products declined from prior years. 

Despite reduced revenue, numismatic program net income and seigniorage increased by more 

than 21 percent to $49.8 million in FY 2010 from $41.1 million in FY 2009. This growth 

resulted from a shift in sales toward high margin products.

1C – Industry Outlook

The United States Mint’s future outlook is impacted by a variety of factors including the price of 

metals, circulating coin demand, customers’ interest in numismatic and bullion products, and 

economic trends. The enactment of legislation in recent years has allowed the United States 

Mint to expand product lines in both numismatic and circulating segments. While sales of new 

and core recurring products continue, the United States Mint recognizes the need to continually 

improve its portfolio of products. This includes utilizing more efficient production capacity, 

developing additional production techniques and accommodating new designs and products, 

while analyzing the market and communicating with the public.

The United States Mint has established four strategic goals as its underlying foundation to 

address these challenges, today and into the future:

 Effectively met all circulating demand;

 Effectively managed bullion and numismatic programs;

 A safe, engaged, productive, and valued workforce;

 Leadership and organizational excellence.
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Section 2 – Budget Adjustments and Appropriation Language

2.1 – Budget Adjustments Table

Dollars in Thousands

United States Mint FTE Amount

FY 2010 Actual 1,778 $3,646,967

FY 2011 Estimated 1,873 $2,539,708

Changes to Base:

Maintaining Current Levels (MCLs): - $26,277

Maintain Current Levels - $26,277

Efficiencies, Savings & Base Reductions: - ($20,100)

Postpone Low Priority Capital Projects - ($12,900)

Procurement Efficiencies and IT Savings - ($7,200)

Subtotal FY 2012 Changes to Base - $6,177

Total FY 2012 Base 1,873 $2,545,885

Total FY 2012 Estimated 1,873 $2,545,885

Totals include capital investments since a FY 2012 savings proposal involves capital investment savings.

2A – Budget Increases and Decreases Description

 

Maintaining Current Levels (MCLs) ....................................................+$26,277,000 / +0 FTE

Maintain Current Levels +$26,277,000 / +0 FTE 

Funds are required for inflation adjustments in non-labor expenses such as rent adjustments, 

postage, raw materials and inventories, supplies and equipment, health benefits and the increase 

in Federal Employee Retirement System participation. No inflation adjustment is requested for 

pay in FY 2012.

Efficiencies, Savings & Base Reductions ...............................................-$20,100,000 / +0 FTE

The United States Mint is committed to minimizing costs while keeping product quality and 

customer service at peak levels. To support efforts to reduce operational funding requirements, 

the United States Mint puts forward the following cost savings proposals:

Capital Projects Postponed to Out-years -$12,900,000 / +0 FTE 

The United States Mint reduced its FY 2012 capital budget $12.9 million by delaying several 

capital projects to out-years. The agency’s capital plan includes funding for various equipment 

replacement, building maintenance and safety projects. The plans are developed based on 

factors such as equipment lifecycle, production needs and facility assessments. Careful 

consideration is given to each project and projects are then prioritized. The capital projects given 

a lesser priority were identified as those to be postponed to subsequent years with little or no 

impact to equipment life or employee safety. Examples of projects of a lesser priority that were 

removed from FY 2012 include electrical switchboard upgrades at San Francisco and pedestrian 

and parking improvements at West Point.

Contract Savings – Procurement/IT -$7,200,000 / +0 FTE 

Procurement Savings: In FY 2010, the United States Mint achieved $47.6 million in non-metal 

procurement savings through acquisition improvement plans. The United States Mint will 

continue efforts to achieve procurement savings by combining multiple contracts, renegotiating 

current contract terms and ensuring greater competition where possible through FY 2012. 
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Through these efforts, United States Mint expects to achieve an estimated $5.7 million in 

procurement savings in FY 2012.

Information Technology (IT) Savings: The United States Mint has employed improved 

Information Technology strategies that are yielding cost savings in IT consulting 

services/systems support services, IT maintenance contract consolidation, and IT 

telecommunications consolidation. These initiatives are projected to save over $1.5 million in 

FY 2012.

Efficiency Savings / 

Productivity Improvements

Brief Description FY 2012 

Projected Savings 

Efficiency Savings Capital projects postponed to outyears $12.9 million

Efficiency Savings Contract Savings - Procurement/IT $7.2 million
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2.2 – Operating Levels Table

Dollars in Thousands

United States Mint FY 2010 Obligated FY 2011 Estimated FY 2012 Estimated

FTE 1,778 1,873 1,873

Object Classification

11.1 - Full-time permanent $141,336 $146,405 $146,405

11.1 - Other than Full-Time Permanent $741 $781 $781

11.5 - Other personnel compensation $12,342 $11,132 $11,132

11.9 - Personnel Compensation (Total) $154,419 $158,318 $158,318

12 - Personnel benefits $43,564 $44,661 $44,661

13 - Benefits for former personnel $800 $1,050 $1,050

21 - Travel and transportation of persons $2,648 $3,630 $3,703

22 - Transportation of things $29,889 $33,310 $33,976

23.1 - Rental payments to GSA $389 $394 $402

23.2 - Rental payments to others $22,170 $26,634 $27,167

23.3 - Communication, utilities, and misc 

charges $13,188 $11,392 $11,620

24 - Printing and reproduction $1,941 $2,424 $2,472

25.1 - Advisory and assistance services $49,009 $47,081 $48,023

25.2 - Other services $59,081 $60,516 $61,726

25.3 - Other purchases of goods and 

services from Govt. accounts $23,680 $21,994 $22,434

25.5 - Research and development 

contracts $2,500 $2,260 $2,305

25.7 - Operation and maintenance of 

equip $9,311 $11,295 $11,521

26 - Supplies and materials $10,663 $16,454 $16,783

26.7 - Raw Materials $3,221,125 $2,064,623 $2,066,759

31 - Equipment $2,559 $2,835 $2,662

42 - Insurance claims and indemnities $31 $7 $7

Total Budget Authority $3,646,967 $2,508,878 $2,515,589

Capital Investments $23,794 $30,830 $30,296

Total Budget Authority including Capital $3,670,761 $2,539,708 $2,545,885

Budget Activities

Manufacturing $3,602,988 $2,457,862 $2,515,589

Protection $43,979 $51,016 $0

Total Budget Authority $3,646,967 $2,508,878 $2,515,589
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2.3 – Resource Detail Table

Dollars in Thousands

FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT

Budgetary Resources:

Revenue / Offsetting Collections

Circulating $ 777,600 $ 618,200 $ 638,100 $ 787,300 23.4%

Numismatic/Bullion $ 2,134,800 $ 3,268,500 $ 2,090,200 $ 1,958,400 -6.3%

Total Revenue / Offsetting Collections $ 2,912,400 $ 3,886,700 $ 2,728,300 $ 2,745,700 0.6%

 Unobligated balances, Start of year - - - - 0.0%

 Recoveries of prior year obligations - - - - 0.0%

 Net transfers (includes capital transfers) - - - - 0.0%

Total budgetary resources available $ 2,912,400 $ 3,886,700 $ 2,728,300 $ 2,745,700 0.6%

Expenses/Obligations

Circulating 671 $ 154,183 648 $ 439,488 693 $ 589,887 828 $ 612,067 19.5% 3.8%

Numismatic/Bullion 815 $ 2,061,000 792 $ 3,163,500 843 $ 1,867,975 1,045 $ 1,903,522 24.0% 1.9%

Protection 326 $ 43,318 338 $ 43,979 337 $ 51,016 - $ - -100.0% -100.0%

Total Expenses / Obligations 1,812 $ 2,258,501 1,778 $ 3,646,967 1,873 $ 2,508,878 1,873 $ 2,515,589 0.00% 0.3%

Net Operating Results $ 653,899 $ 239,733 $ 219,422 $ 230,111 4.9%

Capital Investments $ 23,996 $ 23,794 $ 30,830 $ 30,296 -1.7%

Coin Shipments (In Millions)

 Circulating:

One Cent 3,218 3,487 4,139 5,497

5-Cent 207 359 657 1,138

Dime 358 886 1,214 2,329

Quarter 965 253 250 250

Half-Dollar - - - -

Dollar 459 414 380 380

Total Circulating 5,207 5,399 6,640 9,594

to FY 2012

FY 2012 

Actual Actual Estimated Estimated

% Change

FY 2009 FY 2010 FY 2011 FY 2011
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2B – Appropriations Language and Explanation of Changes 

Appropriations Language Explanation of 

Changes

DEPARTMENT OF THE TREASURY

UNITED STATES MINT PUBLIC ENTERPRISE FUND

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. The aggregate amount of new liabilities and 

obligations incurred during fiscal year [2011] 2012 under such 

section 5136 for circulating coinage and protective service capital 

investments of the United States Mint shall not exceed 

[$25,000,000] $20,000,000.

2C – Legislative Proposals

Eliminate the 20 percent requirement in the Native American $1 Coin Act

This legislative proposal seeks to eliminate the requirement that the number of $1 coins minted 

and issued in a year with the Sacagawea-design on the obverse be not less than 20 percent of the 

total number of $1 coins minted and issued in a year. Proposed amendment: Section 5112(r) of 

title 31, United States Code, is amended by striking paragraph (5). Approval of this proposal 

would allow the United States Mint to mint and issue all $1 coins in amounts necessary to meet 

public demand for coins of each particular design. It would also eliminate the excessive expense 

of minting and issuing Native American $1 Coins in amounts that exceed the public demand for 

them.
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Section 3 – Budget and Performance Plan

This table lists all FY 2012 resources by strategic goal, objective and outcome outlined in the FY 

2007-2012 Treasury Department Strategic Plan. The Treasury Strategic Plan provides a 

description of what the agency intends to accomplish over the next five years.

For detailed information about the FY 2007-2012 Treasury Strategic Plan, please go to: 

http://www.treasury.gov/about/budget-performance/strategic-plan/Pages/index.aspx

3.1 – Budget by Strategic Outcome

Dollars in Thousands

Treasury Strategic Outcome FY 2010 

Actual

FY 2011 

Estimated

FY 2012 

Estimated

% Change

FY10 to FY12

Commerce enabled through safe, secure U.S. notes and 

coins 3,670,761 2,539,708 2,545,885 -30.6%

Total $3,670,761 $2,539,708 $2,545,885 -30.6%

Totals include capital investments since a FY 2012 savings proposal involves capital investment savings.

3A - Manufacturing ($2,515,589,000 from reimbursable programs, not including capital): 

The United States Mint manufactures and sells coin products. For budget reporting purposes, 

these products are grouped into two programs: Circulating Coinage and Numismatic Programs.

Circulating Coinage

The United States Mint enables commerce by minting and issuing circulating coinage to meet the 

needs of the United States. Circulating coinage includes the penny (one-cent), nickel (five-cent), 

dime (ten cent), quarter-dollar, half-dollar and dollar denominations. The United States Mint 

delivers the circulating coinage to the Federal Reserve Banks, at face value, for distribution as 

demanded by commerce.

The current FY 2012 budget estimate includes resource needs of $612.1 million to produce and 

ship 9.6 billion coins and generate receipts of $787.3 million in face value.

Beginning in 2010 through 2020, the United States Mint will mint and issue commemorative 

quarter-dollar coins honoring national parks and other national sites, in accordance with the 

America’s Beautiful National Parks Quarter Dollar Coin Act of 2008 (Public Law 110-456). 

This program honors national parks and sites in the order in which they were first established as 

a national park or site. Similar to the issuance of coins under the 50 State Quarters Program, 

quarter-dollar coins featuring five different coin designs will be issued each year of this program.

In 2011, the United States Mint will release quarters honoring Gettysburg National Military Park 

in Pennsylvania, Glacier National Park in Montana, Olympic National Park in Washington, 

Vicksburg National Military Park in Mississippi, and Chickasaw National Recreation Area in 

Oklahoma. In 2012, the United States Mint will release quarters honoring El Yunque National 

Forest in Puerto Rico, Chaco Culture National Historical Park in New Mexico, Acadia National 

Park in Maine, Hawaii Volcanoes National Park in Hawaii, and Denali National Park in Alaska. 
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Numismatic Program

For budget reporting purposes, the Numismatic program includes numismatic and bullion 

products. The current FY 2012 budget estimate for numismatic and bullion products includes 

resource needs of $1,903.5 million to generate $1,958.4 million in revenues from the sale of 

these products.

The United States Mint prepares and distributes numismatic products, including proof and 

uncirculated versions of coins, 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 Numismatic Program includes the 

American Eagle Program, the American Buffalo Program, the America the Beautiful Program, 

the recurring product programs, commemorative coins, and medals.

Recurring numismatic product programs include high quality, specially presented products based 

on circulating coinage. These products include proof sets, uncirculated sets, quarter-dollar coin 

sets, and $1 Coin sets for the public. 

Commemorative coins are authorized by Congress to celebrate and honor American people, 

places, events and institutions. Each is minted and issued by the United States Mint in limited 

quantity and is available only for a limited time. Included in the price is a surcharge that is 

authorized to be paid to designated recipient organizations for projects that benefit the 

community. In FY 2012, the United States Mint will produce the United States Army 

Commemorative Coin (P.L. 110-450). Surcharges from the sale of each coin are authorized to be 

paid to the Army Historical Foundation to support the construction of the National Museum of 

the United States Army at Fort Belvoir, VA.

The United States Mint also produces bullion coins under American Eagle and American Buffalo 

Programs to fulfill investor demand. 

The American Eagle Program consists of the United States Mint’s premier collectible products. 

These coins contain platinum, gold, and silver and are issued in proof or uncirculated quality. 

Gold proof coins are issued with one-tenth, one-quarter, one-half or one ounce of gold content.

Gold uncirculated coins are issued with one ounce of gold content. Silver proof and uncirculated 

coins are issued with one ounce of silver content. Platinum proof coins are issued with one 

ounce of platinum content. 

Bullion coins are largely bought by precious metal dealers and sold to consumers who desire 

precious metals as part of an investment portfolio. The demand for bullion coins is greatly 

influenced by the performance of other investment options such as equities markets or currency 

markets and therefore is highly unpredictable. The content and purity of bullion coins are 

backed by the United States Government.
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3.2.1 Manufacturing Budget and Performance Plan

Manufacturing Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012

Actual Actual Actual Estimated Estimated

 Appropriated Resources $0 $0 $0 $0 $0

 Reimbursable Resources $2,014,698 $2,215,903 $3,602,988 $2,457,862 $2,515,589

Total Resources $2,014,698 $2,215,903 $3,602,988 $2,457,862 $2,515,589

Budget Activity Total $2,014,698 $2,215,903 $3,602,988 $2,457,862 $2,515,589

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012

Actual Actual Actual Target Target

Circulating On-Time Delivery N/A N/A 99.8 97.5 97.5

Customer Satisfaction Index (%) (Oe) 87.5 88.3 86.1 88.0 88.0

Numismatic Customer Base (Units)(Ot) 1.27 1.06 0.799 0.976 0.976

Safety Incident Recordable Rate N/A N/A 2.29 3.34 3.34

Seigniorage per Dollar Issued ($) (E) 0.55 0.55 0.49 0.41 0.41

Key: Oe - Outcome Measure, E - Efficiency Measure, Ot - Output/Workload Measure, M - Management/Cust. Satisfaction, 

DISC - Discontinued, and B - Baseline

Description of Performance

The United States Mint developed several key performance measures to gauge the progress of 

achieving each of its strategic goals. The following performance measures are monitored to 

assess the United States Mint’s performance for Manufacturing and Sales.

Customer Satisfaction Index (CSI)

A United States Mint contractor conducts a quarterly Customer Satisfaction Measure (CSM) 

Tracking Survey among a random sample of active customers. The CSM Survey is intended to 

capture customer satisfaction with the United States Mint’s performance as a coin supplier and 

the quality of specific products. The CSI is a single quantitative score of CSM Survey results. 

In FY 2010, the United States Mint’s results were 86.1 percent, below the target of 88 percent 

and down from the FY 2009 year-end result of 88.3 percent. Survey results indicate that

customer satisfaction declined largely because of the unavailability of American Eagle 

numismatic precious metal products as well as weakening satisfaction with the United States 

Mint’s communication with customers. In accordance with legislative mandates, the United 

States Mint suspended sales of these products in calendar year 2009 to allocate planchet supply 

to bullion coin production. CSI results are likely to improve upon the availability of these 

products for sale. The Coinage Modernization, Oversight and Continuity Act of 2010 (P. L. 111-

302) now permits the Secretary of the Treasury to mint and issue proof and uncirculated versions 

of the American Eagle coins in qualities and quantities the Secretary determines are appropriate 

to meet numismatic product demand even if all demand for bullion is not satisfied. Also, the 
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United States Mint has increased communication channels to communicate with customers in 

order to improve quality, consistency, timeliness and responsiveness to customer needs.

Numismatic Customer Base

The numismatic customer base consists of the total number of unique purchasers (in millions) 

with a purchase of at least one numismatic product during the fiscal year. The numismatic 

customer base measure provides information on the continued and new demand for numismatic 

products. The numismatic customer base totaled 798,515 in FY 2010, below the target of 

976,000. By the close of FY 2010, the United States Mint had sufficiently expanded gold and 

silver planchet supply to fulfill bullion demand and redirect a portion of blanks for numismatic 

products. Releasing popular gold and silver numismatic products is expected to improve 

customer retention and acquisition as well as customer satisfaction in FY 2011 and beyond. This 

measure is currently being reexamined for its usefulness.

Seigniorage per Dollar Issued

Seigniorage per dollar issued is the return to circulating operations, calculated as seigniorage 

divided by the total face value of circulated coinage shipped to Federal Reserve Banks. 

Seigniorage per $1 issued was $0.49 in FY 2010, below the performance target of $0.53. Base 

metal expenses and the mix of circulating coin ordered by the FRB largely determine seigniorage 

per dollar issued performance. To mitigate the challenge of rising metal prices, the United States 

Mint and the Department of the Treasury have been granted legislative authority to examine 

options for changing the composition of circulating coinage to less expensive materials. 

Circulating On-Time Delivery

On-time delivery to the Federal Reserve Banks (FRB) is the percentage of total scheduled orders 

shipped on time to the FRB. The United States Mint is responsible for providing the Nation’s 

coinage in sufficient quantity to meet the needs of commerce. To accomplish this mission, the 

United States Mint must supply coinage in the quantities and timelines specified by the FRB. 

The FRB is then responsible for distributing coinage to the commercial banking sector. The 

United States Mint’s shipped 99.8 percent of scheduled orders on time to the FRB in FY 2010. 

This was a baseline year for the performance measure, thus there was no target in FY 2010. The 

bureau continuously monitors the circulating supply chain to ensure circulating coins are timely 

and accurately provided to the FRB. This measure is currently being reexamined for its 

usefulness.

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, and medical treatment. This definition follows Part 1904 of Title 29, Code 

of Federal Register (29 CFR 1904). The safety incident recordable rate fell to 2.29 in FY 2010, 

below the target of 3.86. The United States Mint will continue to place a high priority on 

ensuring employee safety.
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3B - Protection (No funding): 

The Department of the Treasury is eliminating the Protection budget activity, and consolidating 

it into the Manufacturing budget activity beginning in FY 2012. During the past 13 years since 

the Protection budget activity was created, the Department has determined that it fails to serve a 

meaningful purpose on a standalone basis and unnecessarily complicates budgetary and other 

financial reporting.

3.2.2 Protection Budget and Performance Plan

Protection Budget Activity

Resource Level FY 2008 FY 2009 FY 2010 FY 2011 FY 2012

Actual Actual Actual Estimated Estimated

 Appropriated Resources $0 $0 $0 $0 $0

 Reimbursable Resources $42,598 $43,318 $43,979 $51,016 $0

Total Resources $42,598 $43,318 $43,979 $51,016 $0

Budget Activity Total $42,598 $43,318 $43,979 $51,016 $0

Measure FY 2008 FY 2009 FY 2010 FY 2011 FY 2012

Actual Actual Actual Target Target

Protection Cost per Square Foot ($)(E) 31.76 31.57 32.26 DISC DISC

Key: Oe - Outcome Measure, E - Efficiency Measure, Ot - Output/Workload Measure, M - Management/Cust. Satisfaction, 

DISC - Discontinued, and B - Baseline

Description of Performance

Protection Cost per Square Foot

Protection cost per square foot is the Protection Department’s total operating cost divided by the 

area of usable space of the United States Mint. Usable space is defined as 90 percent of total 

square footage. Operating costs exclude depreciation. Total square footage of usable space is 

relatively constant and only changes with major events such as the addition or removal of a 

facility. The measure indicates the Protection Department’s cost efficiency in safeguarding the 

United States Mint facilities, employees and over $320 billion in market value of the nation’s 

gold reserves, silver and other assets. Protection cost per square foot was $32.26 in FY 2010, 

$0.51 above the target of $31.75. This measure is discontinued in FY 2011 because it has proven 

to have limited usefulness. 

For detailed information about each performance measure, including definition, verification and 

validation, please go to: http://www.treasury.gov/offices/management/dcfo/accountabilityreports/
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Section 4 – Supporting Materials

4A – Human Capital Strategy Description

In response to the President’s government-wide focus on human capital strategies and 

procedures, the United States Mint’s Human Capital Strategy addresses various components, 

including improving employee engagement, current and future staffing issues and wellness 

requirements. The United States Mint is creating goals and objectives for these initiatives in 

close coordination with the Department of the Treasury’s Office of the Deputy Assistant 

Secretary for Human Resources and Chief Human Capital Officer (DASHR/CHCO), and with its 

shared human resources (HR) service provider, the Bureau of Public Debt (BPD) Administrative 

Resource Center (ARC). 

Hiring Reform

The United States Mint fully supports the Administration’s hiring reform goals and is actively 

working to streamline the recruitment and selection process to recruit and retain highly qualified 

individuals. As the United States Mint implements changes in support of those goals, it will 

continue to evaluate a variety of metrics and adjust implementation plans as necessary. The 

United States Mint will continue to increase consistency in the hiring and selection process 

across field sites, and provide training for hiring managers.

Hiring of Individuals with Disabilities

The United States Mint is committed to recruiting, hiring, and retaining talented individuals with 

disabilities and targeted disabilities. The United States Mint is also committed to increasing 

representation of people with disabilities in all levels of its workforce. To achieve this goal, the 

United States Mint plans to:

1. Train managers and supervisors on the Schedule A hiring authority for persons with 

disabilities. 

2. Issue a memorandum from the Director or Deputy Director to managers and supervisors, 

encouraging them to increase the use of Schedule A in filling vacancies. 

3. Participate in a minimum of one job fair that has a focus on employment of people with 

disabilities.

Based upon the new Presidential Executive Order (13548) dated July 26, 2010, the United States 

Mint plans to implement requirements as appropriate to achieve a model workplace.
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Veterans’ Employment

The United States Mint's FY 2010 Disabled Veterans Affirmative Action Plan (DVAAP) 

establishes a list of resources to recruit disabled veterans and attend career fairs and similar 

events focused on recruitment of disabled veterans. The United States Mint has also 

taken advantage of the Department of Defense “Operation Warfighter” Program to 

provide service members with volunteer work assignments. The United States Mint has a 

DVAAP Program Manager and Selective Placement Coordinator who provide outreach for 

disabled veterans. As a result of these efforts 36 percent of all individuals hired during FY 2010 

had veteran’s preference. 

Improving Employee Engagement and Satisfaction

Employee satisfaction is critical to the execution of circulating, bullion and numismatic 

operations and the overall success of the United States Mint. Recent external and internal 

surveys indicate that employees perceive significant deficiencies in the United States Mint’s 

work environment and leadership. To counter declining employee satisfaction, the United States 

Mint has implemented a comprehensive human capital plan that encompasses the root causes for 

employee dissatisfaction; enhancing leadership skills through required annual training programs; 

establishment of a “Total Rewards System” to institute performance as the driving force in 

determining rewards and recognition; formation of employee engagement teams to identify, 

address, and remedy sources of dissatisfaction within workgroups; proactive emphasis on the 

communication of goals, priorities and results throughout the organization; and establishment of 

a coaching culture to improve performance and employee development, to create high-trust work 

relationships and continually improve job performance. 

The United States Mint measures employee satisfaction by surveying its workforce. Typically, 

employees participate in three surveys each year: The Employee Viewpoint Survey (EVS) 

administered by the Office of Personnel Management, and two Employee Pulse-Check Surveys, 

which are internally administered by the United States Mint. 

All of the United States Mint’s FY 2009 survey results identified areas for improvement, 

including employee engagement and employee satisfaction. Employee satisfaction and positive 

perceptions of the workplace varied greatly across departments and locations.

To address these areas, the United States Mint has embarked on a process to involve more 

employees with identification of concerns and development of ways to remedy the three major 

concerns identified by the surveys: Communication between employees, supervisors and 

management; recognition for a job well done; and teamwork. The “Top Three Engagement 

Process” was created to address these concerns. The process will foster employee-driven 

solutions and improvements in the three areas through employee teams gathering suggestions 

and feedback from coworkers and developing plans of action, in conjunction with management, 

to improve the workplace at headquarters and field sites. Best practices and most effective 

tactics will be shared throughout the United States Mint.
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To improve communication, the United States Mint’s Director and Deputy Director conduct 

open question-and-answer sessions during quarterly “town hall” meetings. The Deputy Director 

holds “stand-up” meetings with the many department workgroups at headquarters and each shift 

at the manufacturing facilities to share organizational progress and challenges. Periodic 

newsletters communicate news topics to employees, and supervisors are required to hold regular 

staff meetings and conduct individual “coaching” sessions every 4-5 weeks with each employee 

to further promote communication and transparency.

A “Total Rewards System” for all employees is being developed to further improve employee 

engagement and satisfaction. In the past, the United States Mint relied on its “Goalsharing”

Program to recognize achievement. While the Goalsharing Program proved effective, it only 

partially addressed employee recognition. To effect more comprehensive employee recognition, 

the United States Mint management, employees and its labor union are working together to 

design and implement a Total Rewards System which will provide managers with multiple tools 

for attracting, motivating and retaining its employees. These tools will include both monetary 

and non-monetary incentives, and are intended to reward employees’ time, talents and efforts to 

help achieve business results. 

Improving Employee Wellness

As a manufacturing entity, the United States Mint focuses on ensuring employee wellness and 

safety. From 2005 through 2008, The United States Mint’s recordable accident case rate 

increased each year. To reverse this upward trend, in FY 2009 the United States Mint began 

emphasizing safety performance and communicating preventative information at each facility. 

As a result the United States Mint reduced its number of work-related injuries or illnesses and 

the number of lost workdays. Lost time accidents fell by 45 percent from 20 cases in FY 2008 to 

13 in FY 2009 to 11 in FY 2010. As a result of these efforts, the safety incident recordable rate 

achieved was 2.29 in FY 2010, notably better than the FY 2010 performance target of 3.86. The 

United States Mint also initiated processes to control exposure to severe hazards and conducted 

extensive safety compliance audits. The United States Mint’s senior leadership is committed to 

increased employee participation in telework, work/life balance and wellness programs.

Labor Management Forums

Some provisions of the current United States Mint collective bargaining agreement are being 

renegotiated. Once these are resolved, United States Mint management will work with the labor 

union to establish a United States Mint labor-management forum.
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4.1 – Summary of IT Resources Table

Dollars in Thousands

Information Technology Investments

FY 2010

Major IT Investments / Funding Source Budget Activity Obligations

FY 2011 

Estimated

 FY 2012 

Estimated

Retail Sales System Manufacturing $10,453 -41.2% $14,506 38.8% $14,520 0.1%

Subtotal, Major IT Investments $10,453 -41.2% $14,506 38.8% $14,520 0.1%

Non-Major IT Investments $2,570 -16.2% $5,428 111.2% $4,700 -13.4%

Infrastructure Investments* $34,734 -15.8% $51,633 48.7% $54,823 6.2%

Enterprise Architecture $1,134 -38.4% $1,093 -3.6% $1,121 2.6%

Total IT Investments $48,891 -23.5% $72,660 48.6% $75,164 3.4%

% Change from 

FY10 to FY11

% Change from 

FY11 to FY12

% Change from 

FY09 to FY10
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4B – Information Technology Strategy

In February 2010, the Department of Treasury launched “One Treasury” IT Services, which will 

provide a consistent standard for IT services across the Department of the Treasury. This effort 

focuses on the simplification of IT solutions, reduction of IT costs, and the implementation of 

“cloud” computing. “One Treasury” IT Service promotes data center consolidation, web

integration, intranet migration to SharePoint Service, and sharing of common data analysis tools. 

The United States Mint’s overall IT strategy is tightly aligned with that of the Department of the 

Treasury and emphasizes technological advancement with reduced system redundancy. In early 

2010, the United States Mint conducted a comprehensive IT assessment and analysis to 

determine current and future business and IT needs. Based on this assessment, the United States 

Mint enhanced its IT strategic plan and IT roadmap to be executed over the next five years. The 

United States Mint’s current technology environment contains many applications that are 

redundant or not used effectively. The IT roadmap will transition the United States Mint’s 

environment from disparate technologies and silo applications to a single Oracle Enterprise 

Resource Planning (ERP) system. This will integrate multiple technologies and generate 

substantial annual savings by eliminating costs necessary to maintain redundant applications in 

the current environment and integrating all necessary modules into one system that draws data 

from a common source.. 

The IT roadmap will also involve web site integration, sales channel unification and data center 

consolidation. The United States Mint’s external Web presence is divided between commerce 

and non-commerce sites, which create an inconsistent and inconvenient customer experience. 

Web site integration will create a unified internet presence and a seamless browsing experience 

for visitors seeking to purchase numismatic products or obtain public information about the 

United States Mint. The need for an integrated web presence is supported by ongoing feedback 

from the public and the results of usability studies conducted on the United States Mint’s web 

sites. The United States Mint expects web integration to generate cost savings of $5.1 million 

over five years by eliminating one of two vendors that currently provide operations support for 

web sites, and by removing redundant hardware and infrastructure services. 

Information about the United States Mint’s numismatic customers is not integrated. Each sales 

channel is maintained separately, which prevents the United States Mint from cohesively 

identifying, tracking and communicating with customers. Unifying sales channels and 

consolidating data into one information repository (the United States Mint’s enterprise data 

warehouse) will provide for better tracking of customer behavior, improve communication with 

customers and ultimately augment sales and customer service. Data consolidation will also 

provide for better information sharing and transparency. 

In FY 2012, the United States Mint will focus its ongoing data center consolidation activities on 

creating an in-house disaster recovery capability; and on continuing its use of virtualization to 

reduce the overall physical footprint of its infrastructure assets.

The United States Mint utilizes the Prosight IT Portfolio Tracking System provided and hosted 

by the Department of the Treasury to manage its IT investments. Prosight tracks schedule, cost, 

goals and performance of all IT investments. The United States Mint examines the status of each 

investment based on cost, schedule and budget on an ongoing basis, and provides mothly reports 
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on results to Treasury. Any significant variance triggers a required corrective action plan to bring 

the investment back into compliance. IT Investments and Projects are reviewed on a weekly 

basis by the United States Mint’s Chief Information Officer to ensure they are within cost, on 

schedule and meeting established performance metrics. During this review, any high risk 

investments or projects which are underperforming, over budget and behind schedule are

identified. Decisions to terminate an investment require a mutually agreed decision by the 

customer, the IT Department (ITD) and United States Mint senior executives. The United States 

Mint also maintains a project status application for all internal projects. The application is

available on the United States Mint’s intranet, where the application reports monthly progress,

and shows whether a project is on schedule. All of the United States Mint’s investments are 

currently meeting cost, schedule and performance goals.

Capital Investments

The United States Mint’s capital investment projects focus on manufacturing improvements such 

as development of new coin designs, automation of packaging lines, and expanded information 

handling. These investments are designed to reduce costs, shorten the cycle time from product 

concept to production, and increase flexible response to shifts in market demand. The following 

major investments are planned for 2012:

FY 2010 

Obligated

FY 2011 

Estimated

FY 2012 

Estimated

Circulating Capital Investments (Including Protection)

Circulating Information Technology 306.8 2,250.0 2,250.0

Circulating Building Improvements 5,251.1 6,050.0 5,408.0

Circulating Equipment 7,556.8 15,990.0 12,335.0

Total Circulating (Including Protection) 13,114.7 24,290.0 19,993.0 

Numismatic Capital Investments

Numismatic Information Technology 102.3 750.0 750.0

Numismatic Building Improvements 4,372.2 2,290.0 4,603.0

Numismatic Equipment 6,204.5 3,500.0 4,950.0

Total Numismatic 10,679.0 6,540.0 10,303.0 

Total Capital Investments 23,793.7 30,830.0 30,296.0 

Capital Investments

(Dollars in Thousands)

Major Investments

The United States Mint’s FY 2012 circulating and protection capital budget request is $20.0 

million. The United States Mint invests in capital projects to maintain, upgrade or acquire 

physical structures, equipment, physical security, and to implement its information technology 

roadmap. Total capital projects are estimated to be $30.3 million in FY 2012. This includes 

approximately $12.3 million for circulating projects, $7.7 million for security improvement 

projects, and $10.3 million for numismatic projects.