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United States Mint 

Mission Statement 

The men and women of the United States Mint serve the nation by exclusively and 

efficiently creating the highest quality, most beautiful and inspiring coins and medals that 

enable commerce; reflect American values; advance artistic excellence; educate the 

public by commemorating people, places and events; and fulfill retail demand for coins. 

Program Summary by Budget Activity 

Dollars in Thousands 

FY 2008 FY 2009 FY 2010

United States Mint Obligated Estimated Estimated $ Change % Change

 Manufacturing $2,015,699 $2,055,945 $1,981,643 ($74,302) -3.6%

 Protection $42,598 $47,441 $48,424 $983 2.1%

Total Resources $2,058,297 $2,103,386 $2,030,067 ($73,319) -3.5%

Total FTE 1,908 1,947 1,979 (32) -1.6%

FY 2010 Priorities 

• Efficiently and effectively produce and distribute approximately 8.5 billion coins to 

meet demand for circulating coins during FY 2010 to enable commerce, an important 

strategic objective for the Department of the Treasury. 

• Mint and issue coins and products required by the America’s Beautiful National Parks 

Quarter-Dollar Coin Act. 

• Mint and issue the Native American $1 Coin. 

• Mint and issue Presidential $1 Coins for circulation to honor the following Presidents: 

Zachary Taylor, Millard Fillmore, Franklin Pierce and James Buchanan. 

• Prepare and distribute recurring numismatic and bullion products and sets, as well as 

other numismatic items, in quantities sufficient to make them accessible, available, 

and affordable to Americans who choose to purchase them. 

• Mint for sale to the public the American Veterans Disabled for Life Commemorative 

Coin and the Boy Scouts of America Centennial Commemorative Coin. 
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Table of Contents 

United States Mint ............................................................................................................ 1

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

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

1B – Program History and Future Outlook..................................................................... 3 

1C – Industry Outlook .................................................................................................... 6 

Section 2 – Budget Adjustments and Appropriation Language................................... 8

2.2 – Operating Levels Table.......................................................................................... 8 

2.3 – Resource Detail Table............................................................................................ 9 

2B – Appropriations Language and Explanation of Changes......................................... 9 

2C – Legislative Proposals ............................................................................................. 9 

Section 3 – Budget and Performance Plan ................................................................... 10

3.1 – Budget by Strategic Outcome .............................................................................. 10 

3.2.1 – Manufacturing Budget and Performance Plan.................................................. 12 

3.2.2 – Protection Budget and Performance Plan ......................................................... 13 

Section 4 – Supporting Materials .................................................................................. 14

4A – Human Capital Strategy Description ................................................................... 14 

4.1 – Summary of IT Resources Table ......................................................................... 15 

4B – Information Technology Strategy ........................................................................ 16 

4.2 – Program Assessment Table.................................................................................. 17 
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 Section 1 – Purpose

1A – Description of Bureau Vision and Priorities 

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’s vision is “to embody the American spirit through the creation of our 

nation’s coins and medals.” The United States Mint is committed to achieving efficient 

operations and providing value to the American people. To support this commitment, the 

United States Mint established an improved strategic planning/change process that 

included the identification of Annual Action Items (AAIs). The AAIs are directly linked 

to the strategic goals and are designed to collectively focus the organization on key 

issues. 

The United States Mint established the following strategic goals to achieve its mission. 

• Establish and reinforce the exclusive brand identity of the United States Mint. 

• Create and execute the most effective coin and medal portfolio strategy. 

• Achieve greater excellence in coin and medal design. 

• Increase operational efficiency while meeting the highest quality standards. 

• Develop optimal workforce and workplace culture. 

1B – Program History and Future Outlook 

Since FY 1996, the United States Mint has operated under the United States Mint’s 

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) and numismatic items to the 

public are the source of funding for operations. Both operating expenses and capital 

investments are associated with the production of circulating and numismatic coins and 

coin-related products, and protective services. Revenues in excess of amounts required 

by the PEF are transferred to the United States Treasury General Fund. By law, all funds 

in the PEF are available without fiscal year limitation. 

The slowing economy greatly affected the United States Mint’s financial performance in 

FY 2008. Circulating coin revenue fell significantly in FY 2008. This is the result of a 

sharp decline in circulating coin demand and an inventory adjustment by the FRB. A 

total of 10 billion circulating coins were shipped to the FRB in FY 2008. This is, on 

average, 4.4 billion fewer coins than were shipped in the past four fiscal years. As a 

result, circulating revenues decreased from $1.7 billion in FY 2007 to $1.3 billion in FY 

2008. Despite the significant decline in circulating revenue, the United States Mint 

transferred $750 million to the Treasury General Fund (compared to $825 million in FY 

2007). 
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The dramatic increase in metal prices continues to affect the United States Mint’s 

circulating coin operations. Although nickel and zinc prices declined during FY 2008, 

the cost of copper increased an additional 10 percent over FY 2007. Rising metal prices 

have had a significant effect on circulating coinage results. While declining from last 

year, the unit costs to manufacture the one-cent coin (penny) and 5-cent coin (nickel) are 

more than their face value for the third consecutive fiscal year. Changing the 

composition of all circulating coins to less expensive materials would ultimately result in 

significant taxpayer savings without compromising the utility of these coins. 

Accordingly, the United States Mint plans to work with the Department of the Treasury 

and the Congress to examine alternatives to mitigate the effect current metal prices are 

having on circulating coinage. 

The United States Mint’s numismatic and bullion sales to the public were strong in spite 

of the slowing economy. In FY 2008, total numismatic and bullion sales increased to 

$1.506 billion, exceeding FY 2007 sales by nearly $600 million. In particular, the United 

States Mint experienced unprecedented sales of its gold, platinum, and silver bullion 

coins in FY 2008. As the economy and financial markets softened, investors sought the 

perceived safety of precious metals. Total bullion revenue topped $949 million, a $593 

million (166.4 percent) increase from FY 2007. 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 produced 10.5 million 

(126.8 percent) more ounces of gold, silver and platinum bullion than fiscal year 2007. 

Net income from bullion sales increased to $17.8 million in fiscal year 2008 compared to 

$4.6 million in fiscal year 2007, a 287 percent increase. 

The overall financial outlook for the United States Mint is expected to weaken in FY 

2010. The conclusion of the 50 State Quarters® Program in FY 2009 is likely to 

negatively affect both circulating and numismatic revenue, seigniorage, and net income. 

Circulating revenue and seigniorage are projected to decline as collector demand for 

quarters diminishes and the FRB uses accumulated quarter inventory to meet 

transactional demand. If the United States Mint’s efforts to promote the circulation of $1 

coins are successful, increased transactional demand for $1 coins would generate 

additional seigniorage and could offset the loss of seigniorage expected after the 

conclusion of the 50 State Quarters® program. Numismatic revenue and net income are 

expected to decline in FY 2010 as the numismatic product lines derived from the 50 State 

Quarters® Program conclude. Bullion revenue is expected to remain high, but the 

contribution to net income is relatively small due to the low-margin nature of the 

program. Bullion demand could decline slightly if the economy strengthens in FY 2010. 

Challenges 

A changing operating environment is posing new challenges and opportunities for the 

United States Mint. Future success depends on a variety of factors, including increased 

collaboration with the FRB, flexibility in the production of circulating coins; robust 
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circulation of the $1 coin and strategies for mitigating the effects of commodity and 

precious metal markets. Some of the key challenges the United States Mint expects to 

face in the coming years are the following: 

• Promoting Robust Circulation of $1 Coins – From the inception of the program, $1 

coin shipments have steadily declined. This decline is largely attributable to 

weakening collector demand. Depository institutions and retailers consider the $1 

coin more a collectible than legal tender for commerce. To overcome institutional, 

attitudinal and behavioral barriers to robust circulation of $1 coins, the United States 

Mint developed a three-pronged strategy and began testing it in a four-city pilot 

program. In addition to standard public relations and advertising efforts, the focus is 

on retail activation by promoting usage directly with large-scale retailers. Achieving 

steady and sustained transactional demand for $1 coins is critical to the long-term 

success of the $1 Coin Program. 

• Rising Prices of Base Metals Leading to Higher Circulating Production Costs - As 

previously stated, the steady and dramatic increases in the prices of zinc, copper, and 

nickel have increased the cost of producing circulating coinage. This is causing the 

penny and nickel to cost more than their face value on a per-unit basis. As a result, 

the United States Mint plans to work with Congress on legislation that would 

authorize the Secretary of the Treasury to approve alternative coinage materials to 

mitigate the effect of high metals prices. The United States Mint will continue to 

produce circulating coinage as currently mandated by Congress. 

• Fluctuating Prices of Precious Metals – Steady and dramatic increases in prices for 

gold, silver, and platinum on commodity exchanges have affected numismatic 

operations. In the case of bullion coins designed for the investor marketplace, the 

cost of the metal is passed on to the consumer at the time of sale. The effect of rapid 

price fluctuations for metals as commodities spills over into the market for other 

numismatic products such as precious metal proof and uncirculated coins. The 

United States Mint has recently developed a new pricing model designed to address 

changes in metal prices. The model is transparent to our customers and matches our 

precious metal buying strategy to numismatic product selling patterns. 

• Conclusion of the 50 State Quarters® and DC and Territories Quarters Programs – 

In recent years, there has been an increased demand for numismatic products – much 

of it because of the popularity of the 50 State Quarters Program. This program ended 

in 2008, and is followed by a one-year commemorative quarter program to honor the 

District of Columbia, and the Territories (Puerto Rico, Virgin Islands, Guam, 

American Samoa, and the Northern Mariana Islands). New legislation for a followon program has been passed – America’s Beautiful National Parks Quarter Dollar 

Coin Act of 2008, which mandates a new rotational-design quarters program that will 

begin in 2010. While this legislation maintains the continuity of the program, it is not 

anticipated to evoke the demand and enthusiasm of the 50 State Quarters Program. 
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• Meeting Coin Demand Under any Conditions – Even in a fairly stable economic 

environment, there will always be variations from month-to-month and year-to-year 

in the level of coin production needed to enable commerce. Significant shifts in the 

monthly production levels of circulating coins create an unstable environment that is 

disruptive to the efficient operation of the manufacturing plants. The United States 

Mint will level production loads, while continuing to ensure sufficient production 

needed to enable commerce at any time. The United States Mint is establishing a 

strategic inventory of coins that will allow it to continue issuing coins during periods 

when demand exceeds production capacity, mitigate the effects of spikes in 

circulating coin demand, and will ensure continuity of operations if a disruption in 

minting processes should occur. 

1C – Industry Outlook 

With rising metal prices, reduced coin demand and an increased interest in numismatic 

and bullion products, the recent economy has had a certain effect on United States Mint 

future outlook. It has, for example, prompted a comprehensive appraisal of circulating 

coin production and distribution operations. The United States Mint is taking measures 

to ensure inventory levels are appropriate to respond to coin demand in any economic 

environment. Furthermore, while sales of numismatic and bullion products have been 

strong, 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 the following goals as our underlying foundation 

to address these challenges, today and in the future: 

Establish and Reinforce the Exclusive BrandIndentity of the United States Mint - The 

United States Mint is a well-known brand within the numismatic and coin collecting 

community. However, the United States Mint believes there are opportunities to improve 

its brand identity among members of the general public. Strengthening the United States 

Mint brand is essential to making numismatic products more accessible to the public and 

to the efforts to move $1 coins from collectors’ items to robust general circulation. The 

current strategic planning process encompasses the design and development of costeffective programs to reinforce the United States Mint brand. 

Create and Execute the Most Effective Coin and Medal Portfolio Strategy – The United 

States Mint has achieved substantial growth in its numismatic operations over the past 

several years. Recent legislation has established new coin programs that include products 

for circulation and for numismatic customers. A key element of the United States Mint 

strategy is to analyze current and historic products, reassess customer demand, and 

explore ethnic and geographic markets to develop the optimal product portfolio. A more 

optimal product portfolio will allow the United States Mint to better serve the needs of 

the collector marketplace, and will increase awareness and circulation of the new $1 coin 

designs. 
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Achieve Greater Excellence in Coin and Medal Design - The United States Mint 

recognizes and embraces its responsibility to do more than merely produce coins and 

medals. Coins are one of the most visible, tangible representations of a nation. Thus, the 

United States Mint believes its products are exceptional artistic mediums for expressing 

the national character, memorializing the past, and embodying the future. While prior 

successes in coin and medal design are noteworthy, the United States Mint strives to 

reach new levels in design excellence. A concerted, agency-wide plan is necessary to 

enhance successful programs and realize greater achievements. By assembling 

exceptional talent, furthering technological advancement, and fostering designs that 

express the American spirit and values, the United States Mint intends to advance a neorenaissance of beautiful coin and medal design. 

Increase Operational Efficiency While Meeting the Highest Quality Standards - The 

United States Mint continually strives for efficient coin manufacturing and sales 

operations. Greater efficiency benefits the American public as well as the Bureau’s 

customers. By reducing production and administrative costs, the United States Mint is 

able to transfer a larger amount of its excess proceeds from circulating coins to the 

Treasury General Fund. Greater productivity and efficiency also allow the Bureau to 

keep the sale price of its numismatic products as low as practicable for our customers. 

The United States Mint is researching and developing new technologies and new 

materials to achieve greater capabilities and efficiencies, and to meet higher quality 

standards, in the design and manufacturing processes. Initiatives include implementing a 

new visioning system to mitigate the distribution of error coins to the public, assessing 

new technologies in digital engraving, and developing a plan to improve the response and 

capability of die manufacturing operations. 

Develop Optimal Workforce and Workplace Culture - The United States Mint continues 

to strive to develop its workforce to ensure that each employee has the necessary 

knowledge, skills, and abilities to effectively and meaningfully contribute to the mission. 

Simultaneously, the Bureau is committed to providing its employees with a healthy and 

safe workplace that enables them to meet mission requirements in the most efficient and 

effective manner possible. 
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Section 2 – Budget Adjustments and Appropriation Language 

2.2 – Operating Levels Table 

Bureau: United States Mint FY 2008 

Obligated

FY 2009 

Estimated

FY 2010 

Estimated

% Change 

FY 2009 

to FY 2010

 

FTE 1,908 1,947 1,979 1.64%

Object Classification: 

11.1 - Full-time permanent 125,795 138,363 143,665 3.83%

11.5 - Other personnel compensation 13,793 12,883 13,441 4.33%

12 - Personnel benefits 39,232 44,038 42,453 -3.60%

13 - Benefits for former personnel 406 1,758 1,695 -3.58%

21 - Travel and transportation of persons 3,080 3,541 3,414 -3.59%

22 - Transportation of things 37,597 29,471 28,410 -3.60%

23.1 - Rental payments to GSA 385 385 394 2.34%

23.2 - Rental payments to others 22,476 22,767 21,947 -3.60%

23.3 - Comm, utilities, and misc charges 14,001 15,781 15,213 -3.60%

24 - Printing and reproduction 4,282 5,502 5,304 -3.60%

25.1 - Advisory and assistance services 55,077 86,679 83,559 -3.60%

25.2 - Other services 61,197 96,310 92,843 -3.60%

25.3 - Other purchases of goods and services from 

Govt. accounts 

9,908 15,593 15,032 -3.60%

25.5 - Research and development contracts 1,457 2,293 2,210 -3.62%

25.7 - Operation and maintenance of equip 18,068 28,434 27,410 -3.60%

26 - Supplies and materials 1,648,792 1,595,931 1,529,552 -4.16%

31 - Equipment 2,710 3,547 3,419 -3.61%

42 - Insurance claims and indemnities 4 110 106 -3.64%

43 - Interest and dividends 37 0 0 0.00%

Total Budget Authority $2,058,297 $2,103,386 $2,030,067 -3.49%

 

Budget Activities: 

Manufacturing 2,015,699 2,055,945 1,981,643 -3.51%

Protection 42,598 47,441 48,424 2.10%

Total Budget Authority $2,058,297 $2,103,386 $2,030,067 -3.49%

 
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2.3 – Resource Detail Table 

(Dollars in Thousands)

FTE AMOUNT FTE AMOUNT FTE FTE AMOUNT

Budgetary Resources:

Revenue / Offsetting Collections

Circulating $666,944 $644,013 $1,027,054 59.48%

- DC & Territories Quarters - 312,750 - -100.00%

Commemorative Quarters (50 States) 627,575 104,250 - -100.00%

Numismatic 1,505,987 1,519,254 1,422,346 -6.38%

Total Revenue / Offsetting Collections $2,800,506 $2,580,267 $2,449,400 -7.86%

 Unobligated balances, Start of year 0 00

 Recoveries of prior year obligations 0 00

BA: Offsetting Collections - Anticipated, without advance 0 00

Total budgetary resources available $2,800,506 $2,580,267 $2,449,400 -7.86%

Expenditures/Obligations

Circulating 401 559,782 409 363,829 733 588,497 79.22% 61.75%

- DC & Territories Quarters 0 0 234 184,059 0 0 0.00% -100.00%

Commemorative Quarters (50 States) 305 378,997 78 61,353 0 0 0.00% 0.00%

Numismatic 859 1,076,920 876 1,446,704 890 1,395,699 1.60% -3.53%

Protection 343 42,598 350 47,441 356 45,871 1.71% -3.31%

Total Expenditures / Obligations 1,908 $2,058,297 1,947 $2,103,386 1,979 $2,030,067 2.04% 2.19%

 Capital Investments $34,499 $36,810 $38,512

FY 2008 FY 2009

Actual Estimated Estimated to FY 2010

FY 2009

% Change

FY 2010

0.00%

0.00%

0.00%

Net Results $742,209 $476,881 $419,333 -10.05%

 Coin Shipments (In Millions)

Circulating:

One-Cent 5,272 5,715 4,805

5-Cent 647 465 584

Dime 1,070 1,078 1,383

Quarter 2,510 1,668 1,248

Half-Dollar - 3 3

Dollar 475 454 498

Total Circulating 9,974 9,383 8,521

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 [2009] 2010

under such section 5136 for circulating coinage and protective service 

capital investments of the United States Mint shall not exceed 

[$42,150,000] $26,700,000. 

2C – Legislative Proposals 

The United States Mint has no legislative proposals for FY 2010. 
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Section 3 – Budget and Performance Plan

This table lists all FY 2010 resources by strategic goal, objective and outcome outlined in 

the FY 2007-2012 Treasury Department Strategic Plan. The Treasury Strategic Plan is a 

corporate level plan for the Department that 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/offices/management/budget/strategic_plan.shtml

3.1 – Budget by Strategic Outcome 

Dollars in Thousands 

Treasury Strategic Outcome FY 2009 FY 2010 Percent

Enacted Request Change

 U.S. notes & coins 2,103,386 2,030,067 -3.5%

Total $2,103,386 $2,030,067 -3.5%

3A – Manufacturing ($1,981,643,000 from reimbursable programs): 

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

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

Program. 

Circulating Coinage

The primary mission of the United States Mint is to enable commerce by minting and 

issuing circulating coinage to meet the needs of the United States. Circulating coinage 

includes the penny, nickel, dime, quarter-dollar, half-dollar and dollar. The United States 

Mint delivers the circulating coinage to the Federal Reserve Banks for distribution as 

demanded by commerce. 

The current FY 2010 budget estimate includes resource needs of $588 million to produce 

and ship 8.5 billion coins and generate $1,027 million in face value. 

By spending $588 million on circulating coinage in FY 2010, the United States Mint will 

produce and ship approximately: 

• 4.8 billion one-cent coins, generating face value of $48.0 million, 

• 0.6 billion five-cent coins, generating face value of $29.2 million, 

• 1.4 billion dime coins, generating face value of $138.3 million, 

• 1.2 billion quarter-dollar coins, generating face value of $312.0 million, 

• 498 million dollar coins, generating face value of $498 million. 

Beginning in 2009, the United States Mint will mint and issue six quarter-dollar coins to 

honor the District of Columbia and the five United States Territories: the 

Commonwealth of Puerto Rico, Guam, American Samoa, the United States Virgin 
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Islands, and the Commonwealth of the Northern Mariana Islands. These coins will be 

issued in equal sequential intervals in the order listed. Beginning in 2010 through 2020, 

the United States Mint will mint and issue “America’s Beautiful National Parks Quarter 

Dollar Coins” in accordance with Public Law 110-456. This program honors national 

parks and sites in each of the 50 states in the order in which they were first established as 

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

different coin designs will be issued each year of this program. 

Numismatic Program

The United States Mint prepares and distributes a variety of numismatic products 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 recurring programs, commemorative 

coins, and medals. The United States Mint also produces bullion coins under American 

Eagle and American Buffalo Programs to fulfill investor demand. The current FY 2010 

budget estimate includes resource needs of $1,405 million to generate $1,422 million in 

revenues from the sale of these products. 

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 precious metal content. Gold uncirculated coins are issued with one ounce of 

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

metal content. Platinum proof coins are issued with one ounce of platinum metal content. 

Recurring programs include high quality, specially presented products based on 

circulating coinage. These products include proof sets, uncirculated sets, quarter sets, 

and $1 Coin sets. These products are designed for mass appeal. 

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 the designated recipient organizations for 

projects that benefit the community. In FY 2010, the United States Mint will produce the 

American Veterans Disabled for Life Commemorative Coin (P.L. 110-277) and the Boy 

Scouts of America Centennial Commemorative Coin (P.L. 110-363). Each program 

offers $1 silver coins for sale to the public. 

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 

can be greatly affected 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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In February 2009, the United States Mint began issuing the 2009 Ultra High Relief 

Double Eagle Gold Coin. This coin promises to fulfill Augustus Saint-Gaudens’ vision of 

an ultra high relief coin that could not be realized in 1907 with his legendary Double 

Eagle liberty design. 

 

The 2009 Ultra High Relief Double Eagle Gold Coin, which will be 24-karat gold, will 

reflect the very best product the United States Mint has to offer. This 21st century vision, 

combined with technological advances in digital design and die manufacturing, enables 

the United States Mint to realize the previously unattainable goal of making the coin 

accessible to all Americans. 

 

The United States Mint looks forward to a new era of modern coinage and is eager to 

continue the tradition of embodying America’s spirit and identity through our coins and 

medals. The coin is a uniquely American artistic expression — created by an American 

sculptor and crafted by an iconic American institution.

3.2.1 – Manufacturing Budget and Performance Plan 

Manufacturing Budget Activity

FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Resource Level Obligated Obligated Obligated Estimated Estimated

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

 Reimbursable Resources $1,469,100 $2,002,796 $2,015,699 $2,055,945 $1,981,643

Total Resources $1,469,100 $2,002,796 $2,014,698 $2,055,945 $1,981,643

Budget Activity Total $1,469,100 $2,002,796 $2,014,698 $2,055,945 $1,981,643

Manufacturing Budget Activity

 Measure FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Actual Actual Actual Target Target

Conversion cost per 1000 Coin 

Equivalents ($) (E) 

7.55 7.23 8.46 N/A N/A

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

Description of Performance: 

Conversion Cost per 1,000 Coin Equivalents - The United States Mint’s costs vary by 

the volume and mix of products sold each year. This makes it difficult to compare 

operating results from year to year. A coin equivalent (CE) calculation is used to convert 

production output to a common denominator based on a fixed product cost ratio. In FY 

2008, the conversion cost was $8.46 per 1000 CEs, 11 percent above the baseline of 

$7.62. CE production decreased to 21.3 billion in FY 2008 from 24.0 billion in FY 2007, 

because of significantly lower FRB orders for circulating coins. As a result, this FY 2008 

performance measure was not met. 

3B – Protection ($48,424,000 from reimbursable programs): The United States Mint 

secures over $200 billion in market value of the nation’s gold reserves, silver, and other 

assets. The United States Mint Police protects United States Mint assets while 
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safeguarding its employees against potential threats at its facilities across the country. 

The United States Mint Police addresses possible threats by ensuring good perimeter 

security at all sites, and increasing coordination with various Federal, state and local law 

enforcement agencies. It also ensures that proper policies are in place, and procedures 

followed, in handling the assets used to produce and transport coinage. 

Plans include efforts to leverage new technology to automate entry and exit procedures at 

United States Mint facilities. Innovative threat assessment strategies will continue to be 

pursued to effectively prevent and counteract any security threats against its operations. 

3.2.2 – Protection Budget and Performance Plan 

Protection Budget Activity

FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Resource Level Obligated Obligated Obligated Estimated Estimated

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

 Reimbursable Resources $36,917 $47,007 $42,598 $47,441 $48,424

Total Resources $36,917 $47,007 $42,598 $47,441 $48,424

Budget Activity Total $36,917 $47,007 $42,598 $47,441 $48,424

Protection Budget Activity

 Measure FY 2006 FY 2007 FY 2008 FY 2009 FY 2010

Actual Actual Actual Target Target

Protection cost per square foot ($) (E) 32.49 31.29 31.76 32.50 33.00

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

Description of Performance

Protection Cost per Square Foot - Protection cost per square foot is the Office of 

Protection’s total operating cost divided by the United State’s Mint’s area of usable 

space, which is 90 percent of the total square footage. The cost per square foot provides 

a measure of efficiency over time. Total square footage of usable space at the United 

States Mint is a stable figure and will only change significantly with major events such as 

the addition, removal or expansion of a facility. Protection cost per square foot for FY 

2008 was $31.76 below the target of $32.50. 

For detailed information about each performance measure, including definition, 

verification and validation, please go to: 

http://www.treasury.gov/offices/management/dcfo/accountability-reports/
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Section 4 – Supporting Materials 

4A – Human Capital Strategy Description 

Human capital planning has become increasingly critical to the United States Mint in 

recent years because of declining employee satisfaction, the loss of key personnel to 

retirement and a changing operational environment. Concerted action is necessary to 

address these challenges and ensure the United States Mint is positioned to accomplish its 

mission, now and in the future. Human capital strategies and efforts continue to evolve 

and include the following: 

• Employee Satisfaction Surveys - A semiannual “Employee Pulse-Check Survey” to 

measure employee satisfaction with the workplace. The results of the Employee 

Pulse-Check Survey are used to identify opportunities for improvement and to ensure 

continuous focus on employee satisfaction. 

• Leadership Development Program (LDP) - All supervisors, managers and executives 

attend training sessions focused on management essentials such as communication, 

teamwork, conflict resolution, human resources and equal employment opportunity 

responsibilities. Based on the program’s success, the United States Mint plans to 

implement a three-phased LDP emphasizing interpersonal skills, management 

change, strategic thinking, and organizational development. By continuing to 

develop effective and committed leaders, communication will be strengthened across 

the agency, and a more supportive work environment can be built for all employees. 

• Manufacturer Certification and Apprenticeship Program (MCAP) - The MCAP is an 

on-the-job training and certification program for wage-grade employees in the coin 

and die divisions of the Philadelphia and Denver facilities. This program addresses 

the concern that nearly half of the current United States Mint’s workforce will be 

eligible for retirement in the next five years. The program combines all currently 

specialized lower grade jobs in two higher grade positions which incorporate all 

functions necessary to produce either coins or dies. This program is intended to result 

in a highly skilled and flexible manufacturing workforce. Depending on its success in 

Philadelphia and Denver, the MCAP may be expanded to other production facilities 

in the future. 

• Preparing for the Future - The United States Mint is assessing its skills and resources 

necessary to achieve its mission now and in the future. Supervisors and managers 

identified the ten critical job-related skills needed for each occupation they oversee as 

well as secondary skills, knowledge and abilities necessary for each occupation. 

Comparing current with desired skills indicates any gaps to be addressed. This skills 

gap assessment will guide training and recruiting efforts in upcoming fiscal years. 

Additional assessments will be conducted in future years to evaluate progress in 

closing skill gaps. 
Mint - 15 

4.1 – Summary of IT Resources Table Dollars in Thousands 

Information Technology Investments

FY 2008 FY 2009 FY 201

Major IT Investments / Funding Source Budget Activity Obligations Estimated Estimat

Retail Sales System Manufacturing and Sales $4,900 2.1% $9,925 102.6% $11,Subtotal, Major IT Investments $4,900 2.1% $9,925 102.6% $11,1Non-Major IT Investments $4,469 -0.7% $6,694 49.8% $4,7Infrastructure Investments $29,029 -32.2% $47,236 62.7% $33,7Enterprise Architecture $2,059 58.4% $1,459 -29.1% $9Total IT Investments $40,457 -24.2% $65,314 61.4% $50,5

% Change 

from FY07 to 

FY08

% Change 

from FY08 to

FY09
Mint - 16 

4B – Information Technology Strategy 

The United States Mint is a manufacturing agency whose primary mission is to produce 

coinage to effectively enable commerce. As such, capital investment requirements are 

predominantly for manufacturing-type equipment, rather than information technology 

(IT) purchases, as reflected in the chart below. 

The United States Mint’s capital projects are focused on improving processes, developing 

new coin design capabilities, and expanding information handling. These investments 

are designed to reduce costs, shorten the overall time from product concept to production, 

and achieve greater flexibility to respond to shifts in market demands. The following 

major IT investment is planned for 2010: 

Integrated Retail Information System (IRIS) - Formerly the Retail Sales System (RS2), 

IRIS was developed in response to a growing need to meet the rapidly expanding 

numismatic market and provides a more efficient and customer-focused sales system that 

incorporates all sales channels seamlessly and leverages technology effectively. IRIS 

was designed to meet high public demand for E-Government services and provide an 

easy and secure way for customers to order products directly from the United States 

Mint. An integrated mail order and cataloging system supports the United States Mint's 

core mission as well as the President's E-Government initiative. 

FY 2008 

Obligations

FY 2009 

Estimated

FY 2010 

Estimated

Circulating & Protection Capital Investments

Circulating Information Technology 1.847 0.345 2.763

Circulating Building Improvements 10.421 3.328 3.015

Circulating Equipment 4.610 2.190 6.674

Protection 7.000 0.245 8.000

Total Circulating and Protection 13.201 16.785 20.452

Numismatic Capital Investments

Numismatic Information Technology 0.891 1.133 0.779

Numismatic Building Improvements 10.004 6.199 5.681

Numismatic Equipment 13.966 9.130 11.6

Total Numismatic 21.298 20.025 18.060

Total Capital Investments 34.499 36.810 38.512

Major Investments

Each year, the United States Mint commits funds for capital projects to maintain, upgrade 

or acquire physical structures, equipment, physical security, and information technology 

systems. Total capital projects are estimated to be $38.5 million in FY 2010. This 

includes approximately $12.5 million for circulating projects, $8.0 million for security 

improvement projects, and $18.0 million for numismatic projects. 

The FY 2010 circulating and protection capital request is $20.5 million, which is $6.2 

million below the projected circulation and protection depreciation (capital limit) amount 

of $26.7 million. Therefore, no additional budget authority is needed in FY 2010 for 

capital investments. 
Mint - 17 

4.2 – Program Assessment Table 

Program Name: Coin Production

OMB Major Findings/Recommendations

Bureau Actions Planned or Underway

3. Establishing a performance target to reduce the time rquired to process raw materials into produce coins.

1. Reducing the maintenance down time of coin manufacturing machinery.

3. The Mint has shown some efficiency improvements in achieving reduced manufacturing costs. The Mint has achieved a 19 

percent reduction in manufacturing costs since 1997.

1. The Mint has established performance measures focused on customer satisfaction and improving cost efficiencies. For 

instance, the Mint reports the results of a Federal Reserve Board Customer Satisfaction survey.

2. The Mint needs to improve customer satisfaction survey scores.

2. Competing customer service and order mailing staff to determine if contractors could handle these functions more 

efficiently.

Program Name: Numismatic Program

OMB Major Findings/Recommendations

1. The program has made enormous strides over the past several years to streamline the production of numismatic produc

Between 1999 and 2003, the Mint reduced costs by 38 percent and reduced workforce by 50 percent. During that same ti

period, production levels increased by 46 percent.

2. The Mint has an excellent internal management structure that is able to receive and analyze real-time financial, producti

and other operating data on a daily basis. This enables the Mint to respond quickly to changing production and customer 

demand.

3. The Mint is making significant progress toward meeting its inventory turnover target of 4.2 in 2005, which reflects the 

number of times per year the Mint works through its inventory. This measure improved 27 percent from 1.96 in 2003 to 2.4

2004. By improving performance, the Mint reduces costs associated with inventory and the production planning process ru

Bureau Actions Planned or Underway

2. Continuing to streamline the production of numismatic products in order to reduce costs and improve efficiency.

ts. 

me 

on, 

8 in 

ns 

more efficiently.

1. Continuing substantial progress toward reaching the Mint's target goal for inventory turnover.

Program Name: Protection Program

OMB Major Findings/Recommendations

Bureau Actions Planned or Underway

2. Continue to improve employee confidence in the United States Mint protection program.

1. The United States Mint has developed adequate long-term performance measures with ambitous targets and timeframes. 

The Mint's target for total losses is $250,000 in 2005 and $0 in 2010

2. The United States Mint's Protection program has a clear purpose, is well planned, and managed effectively. However, it is 

somewhat duplicative of other Federal efforts aimed at protecting money, such as the Bureau of Engraving and Printing, and 

the Federal Reserve Police forces.

3. The United States Mint regularly achieves its annual performance goals and works with other law enforcement partners to 

assess threat levels and assist in achieving future goals. The United States Mint is a participant in the multi-agency CounterTerrorism Program.

1. Continue to assess and implement ways in which the cost of protection per square foot can be minimized.

For a complete list of program results visit the following website: 

http://www.whitehouse.gov/omb/expectmore/all.html