(Dollars in thousands) 

FY 2010 

Estimated 

Manufacturing 

Budget Activity FY 2009 

Actual 

$2,215,183 

$43,318 

$2,258,501 

$23,996 

$1,974,420 

Protection $47,744 

Total Cost of Operations $2,022,164 

FY 2011 

Estimated $ Change % Change 

$2,013,908 $39,488 2.0% 

$48,699 $955 2.0% 

$2,062,607 $40,443 2.0% 

Capital Investments* $49,948 

*Not included in Total Cost of Operations above 

$54,600 $4,652 9.3% 

United States Mint 

Program Summary by Budget Activity 

Explanation of Budget Estimate 

The United States Mint manufactures and 

delivers domestic circulating coinage, 

numismatic coinage, and bullion products. 

Furthermore, the United States Mint provides 

security for assets, including the government’s 

stock of gold bullion, silver bullion, coins and 

coinage metals. 

The United States Mint’s key priorities for FY 

2011 include: 

•	 Efficiently and effectively produce and 

distribute approximately 9.5 billion coins 

to meet demand for circulating coins 

during FY 2011 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 Presidential $1 Coins for 

circulation to honor the following 

Presidents: Abraham Lincoln, Andrew 

Johnson, Ulysses S. Grant and Rutherford 

B. Hayes 

•	 Mint and issue the Native American $1 

Coin. 

•	 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. 

•	 Continue to secure the nation’s gold 

reserves, silver and other assets. 

•	 Mint for sale to the public the United 

States Army Commemorative Coin. 

FY 2011 United States Mint estimated total 

revenues are $2,217,658,000, total expenses 

are $2,062,607,000, capital investments are 

$54,600,000, and net results are $155,015,000. 

Purpose of Program 

Since FY 1996, the United States Mint has 

been operating under the United States Mint’s 

Public Enterprise Fund (PEF). As authorized 

by Public Law 104-52 (31 U.S.C. § 5136), the 

PEF eliminates the need for appropriations. 

Proceeds from the sales of circulating coins to 

the Federal Reserve Banks 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. 

Explanation of Budget Activities 

Manufacturing ($2,013,908,000 from 

reimbursable programs) 

The United States Mint manufactures and sells 

products. For budget reporting purposes, these 

Department of the Treasury - Budget in Brief FY 2011 Page 99
products are grouped into two programs: 

Circulating Coinage and Numismatic Program. 

Circulating Coinage includes the one-cent 

coin, 5-cent coin, dime, quarter, half-dollar 

and dollar used to enable the conduct of trade 

and commerce. 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. The 

United States Mint delivers the circulating 

coinage to the Federal Reserve Banks for 

distribution as demanded by commerce. 

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 Numismatic program 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 2011 budget estimate includes 

resource needs of $1,302 million to generate 

$1,350 million in revenues from the sale of 

these products. 

Protection ($48,699,000 from reimbursable 

programs) The United States Mint secures 

over $240 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 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. 

Legislative Proposals 

This legislative proposal would authorize the 

Secretary of the Treasury to approve 

alternative coinage materials to mitigate the 

effect of high metals prices. Specifically, the 

proposal would allow the Secretary to explore, 

analyze, and approve new, less expensive 

materials for all circulating coins 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 the coins' 

utility and integrity. Once the agency has a 

comprehensive inventory of factors and their 

relative significance, the United States Mint 

would employ an objective, competitive, and 

public process to solicit and evaluate proposals 

for new coinage materials. The United States 

Mint will continue to produce circulating 

coinage as currently mandated by Congress. 

Department of the Treasury - Budget in Brief FY 2011 Page 100
Capital Investments Summary 

The United States Mint’s FY 2011 circulating 

and protection capital request is $24.9 million, 

which is less than the projected circulating and 

protection depreciation (capital limit) amount 

of $25.0 million. 

Each year, the United States Mint commits 

funds for capital projects to maintain, upgrade 

Mint Performance by Budget Activity 

or acquire physical structures, equipment, 

physical security, and information technology 

systems. Total capital projects are estimated 

to be $54.6 million in FY 2011. This includes 

approximately $16.4 million for circulating 

projects, $8.5 million for security 

improvement projects, and $29.7 million for 

numismatic projects. 

FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 

Budget Activity Performance Measure Actual Actual Target Actual Met? Target Target 

Manufacturing Customer Satisfaction Index 

for Mint (%) (Oe) 90.5% 87.5% 88.0% 88.3% Yes 88% 88% 

Manufacturing Numismatic Customer Base in 

for Mint millions (Ot) 0.97 1.27 1.4 1.06 No 0.90 1.00 

Manufacturing Circulating On-Time Delivery 

for Mint (%) (Oe) N/A N/A N/A N/A N/A B TBD 

Protection cost per square foot Protection for Mint ($) (E) 31.29 31.76 31.75 31.57 Yes 31.75 31.75 

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

Baseline 

Description of Performance 

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 2009, the 

United States Mint results were 88.3 percent, 

exceeding the target of 88 percent and 

increasing slightly from the FY 2008 result of 

87.5 percent. 

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 FY 2009 

numismatic customer base totaled 1.06 

million, below the target of 1.40 million. The 

United States Mint customer retention and 

acquisition performance declined because the 

bureau was unable to offer several core 

numismatic products for sales after January 

2009. Economic conditions may have also 

curtailed customer spending on collectibles 

from prior years. The United States Mint 

began to full satisfy bullion demand in the 

later months of the fiscal year. Consequently, 

the bureau hopes to offer some numismatic 

products for sale in FY 2010 that were 

unavailable in FY 2009. 

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 

Department of the Treasury - Budget in Brief FY 2011 Page 101
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. 

Cost per Square Foot 

Protection cost per square foot is the 

Protection Department’s total operating cost 

divided by the United States Mint’s area of 

usable space, which is 90 percent of the total 

square footage. 

The cost per square foot provides a 

measurement 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 

decreased to $31.57 in FY 2009 from $31.76 

in FY 2008, below the target of $31.75. 

Department of the Treasury - Budget in Brief FY 2011 Page 102