Department of the Treasury 

United States Mint 

Congressional Budget 

Justification and Annual 

Performance Plan and Report 

FY 2022 

 
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Table of Contents

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

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

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

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

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

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

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

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

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

Section II – Annual Performance Plan and Report ................................................................... 9

A – Strategic Alignment ............................................................................................................. 9

B – Budget and Performance by Budget Activity .................................................................... 10

2.1.1 – Manufacturing Resources and Measures ...................................................................... 10

Manufacturing Budget and Performance .................................................................................. 11

C – Changes in Performance Measures .................................................................................... 13

D – Evidence-Building Activity ............................................................................................... 13

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

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

 
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Section I – Budget Request 

A – Mission Statement 

To enable America’s economic growth and stability by protecting assets entrusted to us and 

manufacturing coins and medals to facilitate national commerce. 

B – Summary of the Request 

In Fiscal Year (FY) 2022, the Mint’s total estimated budgetary requirements for operations, 

metal, and capital investments are $3.31 billion. This budget will support the production of 18 

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

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

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

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

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

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

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

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

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

through the use of industry-proven marketing approaches. 

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

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

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

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

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

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

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

Circulating 

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

coin orders. Circulating coin production for FY 2021 and FY 2022 is forecasted at 20.0 billion 

and 18.0 billion coins, respectively. This level reflects a 29 percent increase for FY 2021 and a 

16 percent increase for FY 2022 in shipments of all coin denominations, as compared to 15.5 

billion in FY 2020. Circulating revenue is forecasted at $1.678 billion in FY 2021 and $1.382 

billion in FY 2022. FY 2020 unit costs decreased for all denominations except the dime 

compared to last year. The unit cost for both pennies (1.76 cents) and nickels (7.42 cents) 

remained above face value for the 15th consecutive fiscal year. 

Numismatic Program 

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

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

products are priced to cover metal and production costs. 

 
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Bullion Coins 

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

an investment portfolio. In FY 2020, bullion demand increased to 24.7 million ounces from the 

18.8 million ounces sold in FY 2019. Demand for bullion is forecasted at 21.1 million ounces 

for both FY 2021 and FY 2022. Bullion revenue is forecasted to be $1.99 billion in FY 2021 and 

$2.1 billion in FY 2022. 

Numismatic (Collector Coins and Medals) 

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

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

decreased by 0.9 percent from $349.6 million in FY 2019 to $346.6 million in FY 2020 due to a 

$23.0 million increase in gold and platinum products offset by a $34.3 million decrease in 

commemorative product revenues. Total units decreased by 20.9 percent from 4.3 million in 

FY 2019 to 3.4 million in FY 2020. FY 2021 and FY 2022 numismatic revenues are projected to 

be $514.5 million and $454.5 million, based on projected demand for numismatic products of 3.6 

million in FY 2021 and increasing to 3.8 million in FY 2022. 

1.1 – Resource Detail Table 

Dollars in Thousands 

 FY 2020 FY 2021 FY 2022 FY 2021 to FY 2022 

Budgetary Resources Actual Estimate Estimate % Change 

 FTE AMOUNT FTE AMOUNT FTE AMOUNT FTE AMOUNT 

Revenue/Offsetting Collections 

Other Income 

Circulating 0 $1,168,492 0 $1,678,351 0 $1,381,960 NA -17.66% 

Bullion/Numismatic 0 $2,458,264 0 $2,509,019 0 $2,573,819 NA 2.58% 

Total Revenue/Offsetting Collections 0 $3,626,756 0 $4,187,370 0 $3,955,779 NA -5.53% 

Expenses/Obligations 

Manufacturing 

Circulating 831 $1,115,526 919 $1,168,175 919 $1,237,311 0.00% 5.92% 

Bullion/Numismatic 708 $2,346,835 752 $2,132,325 752 $2,075,287 0.00% -2.67% 

Total Expenses/Obligations 1,539 $3,462,361 1,671 $3,300,500 1,671 $3,312,598 0.00% 0.37% 

Net Results 1,539 $164,395 1,671 $886,870 1,671 $643,181 0.00% -27.48% 

Coin Shipments (Units In Millions/Coins) FY 2020 FY 2021 FY 2022 % Change 

Circulating: 

One Cent 8,174 9,550 9,223 -3.4% 

5-Cent 1,598 2,623 2,045 -22.0% 

Dime 2,801 3,366 3,303 -1.9% 

Quarter 2,906 4,460 3,429 -23.1% 

Half-Dollar - - - 0.0% 

Dollar - - - 0.0% 

Total Circulating 15,479 20,000 18,000 -10.0% 

FY 2020 FY 2021 FY 2022 

Budget Category Actual Estimated Estimated % Change 

Administrative Operating Costs 

$404,433 

$430,000 $442,098 2.8% 

Capital Investments $39,463 $60,500 $60,500 0.0% 

Metals and Materials Costs $3,018,466 $2,810,000 $2,810,000 0.0% 

Total Budgetary Resources $3,462,361 $3,300,500 $3,312,598 0.4% 

 
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1.2 – Budget Adjustments Table 

Dollars in Thousands 

 FTE Materials Operating 

& Capital Total 

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

Program Changes 

Program Decreases: (34) $0 ($9,827) ($9,827) 

FTE Reduction (34) $0 ($2,107) ($2,107) 

Operating Efficiencies 0 $0 ($7,720) ($7,720) 

Program Increases: 0 $730,000 $33,130 $763,130 

Metal Due to Forecasted Increase in Circulating Coin Production 0 $250,000 $0 $250,000 

Metal Due to Forecasted Increase in Bullion and Numismatic Production 0 $480,000 $0 $480,000 

COVID-19 Requirements 0 $0 $5,410 $5,410 

Increased Shipping and Handling 0 $0 $17,744 $17,744 

Equipment and Facilities O&M 0 $0 $9,976 $9,976 

Subtotal Program Changes (34) $730,000 $23,303 $753,303 

FY 2021 Revised Estimate 1,671 $2,810,000 $490,500 $3,300,500 

Changes to Base 

Maintaining Current Levels (MCLs) 0 $0 $12,098 $12,098 

Pay Annualization (1.0% average pay raise) 0 $0 $547 $547 

Pay Raise (2.7% average pay raise) 0 $0 $4,443 $4,443 

FERS Contribution Increase 0 $0 $1,675 $1,675 

Non-Pay 0 $0 $5,433 $5,433 

Subtotal Changes to Base 0 $0 $12,098 $12,098 

FY 2022 Current Services 1,671 $2,810,000 $502,598 $3,312,598 

FY 2022 Estimate 1,671 $2,810,000 $502,598 $3,312,598 

C – Budget Increases and Decreases Description 

Program Decreases............................................................-$9,827,000 / -34 FTE 

FTE Reduction -$2,107,000 / -34 FTE 

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

Operating Efficiencies -$7,720,000 / -0 FTE 

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

savings strategies. 

Program Increases............................................................. +$763,130,000 / +0 FTE

Metal Due to Forecasted Increase in Circulating Coin Production +$250,000,000 / +0 FTE 

FY 2021 forecasted circulating coin production is increasing by 29%, from 15.5 billion coins in 

FY 2020 to approximately 20 billion coins. Metal prices are also projected to increase which 

results in an overall increase in circulating coin program costs. 

Metal Due to Forecasted Increase in Bullion and Numismatic Production +$480,000,000 / +0 

FTE 

FY 2021 forecasted demand for the bullion coin program is increasing metal requirements by 

$480 million. Bullion program sales are forecasted to increase by 6 percent, and precious metal 
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prices have surged. The projected increase is bullion sales coupled with the surge in metal prices 

results in an overall increase in program costs. 

COVID-19 Requirements +$5,410,000 / +0 FTE 

COVID -19 funding is required to maintain a healthy and safe workforce. The Mint has taken 

steps to ensure the safety of its employees by installing plexi-glass shields in areas with high 

customer interaction. Touchless faucets, touchless paper towel dispensers, and touchless soap 

dispensers are being installed in bathrooms throughout our facilities, and water fountains are 

being converted to water bottle filling stations. In FY 2022, the Mint will continue to provide all 

our facilities with Personal Protective Equipment (PPE) and enhanced janitorial cleaning 

services to ensure the safety of all who enter our buildings. In addition, as coin demand has 

soared during the pandemic and is expected to remain high, overtime will be used to ensure these 

elevated production levels are met. 

Increased Shipping and Handling +$17,744,000 / +0 FTE 

As a result of the increase in FY 2021 forecasted demand for the bullion coin program and 

circulating coin production, operating cost has also increased requiring additional funding for 

freight. 

Equipment and Facilities O&M +$9,976,000 / +0 FTE 

With increases to FY 2021 forecasted demand for the bullion coin program and circulating coin 

production, operation and maintenance of equipment and facilities cost has also increased 

requiring additional funding.

 

Maintaining Current Levels (MCLs)..................................................... +$12,098,000 / +0 FTE

Pay Annualization (1.0%) +$547,000 / +0 FTE 

Funds are required for annualization of the January 2021 1.0% average pay raise. 

Pay Raise (2.7% in 2022) +$4,443,000 / +0 FTE 

Funds are required for a 2.7% average pay raise in January 2022. 

FERS Contribution Increase +$1,675,000 / +0 FTE 

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

effective FY 2022. 

Non-Pay +$5,433,000 / +0 FTE 

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

and equipment. 
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1.3 – Object Classification (Schedule O) Obligations 

Dollars in Thousands 

Object Classification 

FY 2020 

Actual 

Obligations 

FY 2021 

Estimated 

Obligations 

FY 2022 

Estimated 

Obligations 

11.1 - Full-time permanent 138,201 150,696 166,705 

11.3 - Other than full-time permanent 266 161 161 

11.5 - Other personnel compensation 16,111 12,000 15,700 

11.9 - Personnel Compensation (Total) 154,579 162,857 182,566 

12.1 - Personnel benefits 55,222 54,990 54,990 

13.0 - Benefits for former personnel 18 1,019 1,019 

Total Personnel and Compensation Benefits $209,818 $218,866 $238,575 

21.0 - Travel and transportation of persons 911 900 2,663 

22.0 - Transportation of things 33,310 39,144 21,400 

23.1 - Rental Payments to GSA 1 0 0 

23.2 - Rental payments to others 11,292 14,000 14,000 

23.3 - Communication, utilities, and misc charges 13,807 18,960 18,960 

24.0 - Printing and reproduction 1,728 2,000 3,366 

25.1 - Advisory and assistance services 52,143 52,000 60,621 

25.2 - Other services 18,988 19,000 21,063 

25.3 - Other purchases of goods & serv from Govt accounts 20,105 20,500 20,586 

25.4 - Operation and maintenance of facilities 9,955 10,000 9,375 

25.5 - Research and development contracts 72 100 900 

25.6 - Medical care 1,106 900 900 

25.7 - Operation and maintenance of equip 9,726 11,000 7,059 

26.0 - Supplies and materials 18,140 19,050 19,050 

26.0 - Raw Materials 3,018,466 2,810,000 2,810,000 

31.0 - Equipment 29,883 51,000 52,266 

32.0 - Land and structures 12,911 13,080 11,814 

Total Non-Personnel 3,252,543 3,081,634 3,074,023 

Total Obligations $3,462,362 $3,300,500 $3,312,598 

 

Full-time Equivalents (FTE) 1,539 1,671 1,671 
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D – Appropriations Language and Explanation of Changes 

Appropriations Language Explanation of Changes 

DEPARTMENT OF THE TREASURY 

United States Mint 

Federal Funds 

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

the United States Mint is provided funding through the 

United States Mint Public Enterprise Fund for costs 

associated with the production of circulating coins, 

numismatic coins, and protective services, including both 

operating expenses and capital investments: Provided, 

That the aggregate amount of new liabilities and 

obligations incurred during fiscal year [2021] 2022 under 

such section 5136 for circulating coinage and protective 

service capital investments of the United States Mint shall 

not exceed $50,000,000. (Department of the Treasury 

Appropriations Act, 2021.)

 

 

E – Legislative Proposals 

Mint has no legislative proposals. 

 
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Section II – Annual Performance Plan and Report 

A – Strategic Alignment 

In accordance with the Government Performance and Results Act Modernization Act 

(GPRAMA) of 2010, the Department of the Treasury is currently developing the FY 2022 – 

2026 Departmental Strategic Plan. The Strategic Plan is scheduled for publication in 2022. 

The Annual Performance Plan will be updated in the FY 2023 President’s Budget to reflect new 

departmental strategic goals and objectives. The Mint will publish a component plan that aligns 

bureau activities and priorities to the Department’s by Spring 2022. 

Circulating Coinage Program 

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

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

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

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

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

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

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

Parks Quarter Dollar Coin Act of 2008 (Public Law 110-456). In 2021, the program will end 

with one final quarter honoring Tuskegee Airmen National Historic Site (Alabama). The 

Circulating Collectible Coin Redesign Act of 2020 (Public Law 116-330) will begin in 2022 with 

the first redesign and issuance of quarters emblematic of prominent American Women and 

commemorating the 19th Amendment. 

Numismatic Program 

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

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

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

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

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

Bullion Coins 

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

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

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

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

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

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

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

Government. 

Other Numismatic Products 

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

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

United States in accordance with the Native American $1 Coin Act (Public Law 110-82). 
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In addition, the Mint started the American Innovation $1 Coin Program (Public Law 115-197) in 

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

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

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

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

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

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

and the territories. The 100th anniversary of the Mint’s last strike of the Morgan Silver Dollar and 

first strike of the Peace Silver Dollar will occur in 2021. In accordance with the 1921 Silver 

Dollar Coin Anniversary Act (Public Law 116-286), the Mint will produce both Peace and 

Morgan Silver Dollars to honor the anniversary of the 1921 designs of both coins. 

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

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

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

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

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

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

commemorative coins honoring Christa McAuliffe (Public Law 116-65) and National Law 

Enforcement (Public Law 116-94). In 2022, the Mint has authorization to mint commemorative 

coins commemorating National Purple Heart Hall of Honor (Public Law 116-247) and Negro 

Leagues Baseball Centennial (Public Law 116-209). 

B – Budget and Performance by Budget Activity 

2.1.1 – Manufacturing Resources and Measures 

Dollars in Thousands 

 Resource Level FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 

 Actual Actual Actual Actual Actual Estimate Estimate 

Expenses/Obligations $3,272,106 $2,203,909 $1,424,770 $1,555,462 $3,462,361 $3,300,500 $3,312,598 

Budget Activity Total $3,272,106 $2,203,909 $1,424,770 $1,555,462 $3,462,361 $3,300,500 $3,312,598 

FTE 1,695 1,645 1,545 1,536 1,539 1,671 1,671 

Performance Measure

FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2020 FY 2021 FY 2022

Actual Actual Actual Actual Actual Target Target Target

Circulating On-Time Delivery 100 100 100 100 100 97.5 97.5 97.5 

Customer Satisfaction Index (%) 91 91.7 93.6 93.6 91.7 90.0 87.0 90.0 

Numismatic Sales Units 

(Million Units) 4.2 3.9 3.3 4.3 3.4 3.8 3.6 3.8 

Safety Incident Recordable Rate 2.53 1.96 1.9 1.45 1.29 2.32 2.30 2.16 

Seigniorage per Dollar Issued 

($) 0.52 0.45 0.37 0.4 0.47 0.36 0.41 0.41 
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Manufacturing Budget and Performance 

($3,312,598,000 from offsetting collections) The Mint will mint and issue circulating coins and 

produce numismatic products, including bullion, to meet demand. 

Description of Performance: 

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

strategic goals and to assess its Manufacturing Budget Activity performance. 

Customer Satisfaction Index (CSI) 

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

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

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

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

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

“Revitalization of products and customer base,” and the Mint’s internal strategic objective linked 

to this goal, “Integrated marketing plan”, which includes metrics for performance, customer 

engagement and customer satisfaction to evaluate the health of the Mint’s sales and marketing 

program. 

In FY 2020, the CSI was 91.7 percent, exceeding its 90.0 percent target. The Mint was able to 

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

the Mint’s customer loyalty program. The Mint has set the target for this metric at 87.0 percent 

for FY 2021 and at 90.0 percent for FY 2022. 

Numismatic Sales Units 

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

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

internal strategic plan goal, “Revitalization of products and customer base” and the Mint’s 

internal strategic objective linked to this goal, “Increasing brand awareness.” 

Numismatics product sales for FY 2020 totaled 3.4 million units, missing its 3.8 million unit 

target. The Mint’s numismatic unit sales fell in FY 2020, likely as a result of the worldwide 

COVID-19 pandemic. Currently the environment for numismatic sales overall remains 

challenging. The performance target for numismatic sales units is 3.6 million for FY 2021 and 

3.8 million for FY 2022. Targets are representative of anticipated results for the various 

numismatic product programs for that year. Therefore, targets tend to vary year over year. To 

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

outstanding customer service and deepen engagement with coin collectors. 

Safety Incident Recordable Rate

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

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

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

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

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

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

In FY 2020, the total recordable case rate reached 1.29, well below the Mint’s FY 2020 target of 

2.32, and significantly below the most recently published industry average rate of 4.9 for 

comparable private sector manufacturing operations. During FY 2020, the Mint continued 

implementing and updating risk management guidelines to prioritize resources and mitigate risks 

in advance of injuries or catastrophic events at each plant. Mint facility leadership and 

employees continue to interact on a daily basis on the importance of safety. The performance 

targets for the safety incident recordable rate are 2.30 for FY 2021 and 2.16 for FY 2022. The 

Mint is currently on target to exceed its FY 2021 goal. 

Seigniorage per Dollar Issued 

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

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

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

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

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

the circulating mission,” as well as the Mint’s internal strategic objective linked to the goal, 

“Utilize research, analysis, and technology for enhancement of circulating coin output and 

input.” 

At the end of FY 2020, Seigniorage per Dollar Issued was $0.47, well above the FY 2020 

performance target of $0.36 as a result of an increase in circulating units shipped. The FY 2021 

and FY 2022 target increases are a result of anticipated increases in production volumes, as well 

as base metals cost for all denominations, as market prices are expected to escalate. The 

Seigniorage per Dollar Issued performance targets are set at $0.41 for both FY 2021 and 

FY 2022. 

Circulating On-time Delivery 

Circulating On time Delivery is the percentage total scheduled circulating coin orders shipped on 

time to the Federal Reserve Banks. Each month, the FRB provides Mint a report detailing the 

next month's requirements for coinage. Based on this report, the Mint establishes a shipment 

schedule that is captured in the Oracle manufacturing system. Changes to the schedule are only 

made when the FRB provides formal documentation of a requested adjustment to scheduled 

orders. The Mint will continue to respond to FRB orders as needed, as well as make every effort 

to have the appropriate amount of coinage available to accommodate timely shipments. On-time 

delivery to the Federal Reserve Banks (FRB) is the percentage of total scheduled orders shipped 

on time to the FRB. Performance over the past few years has consistently averaged around 100 

percent. On time delivery for FY 2020 was 100 percent. The performance targets for circulating 

on-time delivery is set at 97.5 percent for both FY 2021 and FY 2022. 
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C – Changes in Performance Measures 

Performance Measure Proposed Change and Justification 

1. Circulating On-Time Delivery The Mint is reactivating this measure to ensure 

the Mint responds to FRB orders as needed, as 

well as make every effort to have the appropriate 

amount of coinage available to accommodate 

timely shipments. 

D – Evidence-Building Activity 

The table below describes the Mint’s major evidence-building activities and corresponding 

resources. Additionally, refer to the Executive Summary for a discussion of Treasury-wide 

evidence-building functions. 

Type of Evidence 

Building Activity 

Major Activities and 

Planned Projects

Resource Types Use 

Evaluation 

Collection and 

analysis of data to 

assess effectiveness 

and efficiency of 

programs, policies, or 

procedures

Estimated share of 

all Evidence-Building 

Activities:

 35%

Major activities: 

 Business cases and After 

Actions Reports 

Series 0343 dedicated to 

safety measurement 

Series 0501 dedicated to 

project analysis 

Series 0510 dedicated to 

program and budget 

analysis 

☒ For internal policy 

 decision-making 

☒ During internal 

 strategic 

management 

 processes 

☐ By external partners 

 (government) 

☐ By external partners 

 (non-government) 

☐ By unaffiliated 

 external researchers 

☐ Other (describe) 

FY21 and FY22 projects: 

 Net income 

maximization project for 

numismatic portfolio 

(active) 

Research 

Modeling or other 

systematic use of data 

to explore emerging 

issues or potential 

scenarios to generate 

new knowledge

Estimated share of 

all Evidence-Building 

Activities:

 25%

Major activities: 

 Demand and sales 

forecasting 

 Numismatic product 

pricing 

 Payments market trend 

analysis 

Series 0343 dedicated to 

forecasting and pricing 

analysis 

Series 1101 dedicated to 

forecasting 

Economic research 

contract 

☒ For internal policy 

 decision-making 

☒ During internal 

 strategic 

management 

 processes 

☒ By external partners 

 (government) 

☒ By external partners 

 (non-government) 

☐ By unaffiliated 

 external researchers 

☐ Other (describe) 

FY21 and FY22 projects: 

 Long-term circulating 

coin demand trend 

modelling (active) 

 Improved numismatic 

modelling (active) 
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Type of Evidence 

Building Activity 

Major Activities and 

Planned Projects

Resource Types Use 

Analysis 

Routine and frequent 

use of data that 

produces insights for 

decision making and 

program management

Estimated share of 

all Evidence-Building 

Activities:

 30%

Major activities: 

 Performance 

Measurement 

Series 0343 dedicated to 

safety measurement 

Series 1035 dedicated to 

public engagement 

analysis 

Series 0343 dedicated to 

performance reporting 

Series 0501 dedicated to 

performance reporting 

Series 0510 dedicated to 

performance reporting 

Marketing contract 

☒ For internal policy 

 decision-making 

☒ During internal 

 strategic 

management 

 processes 

☐ By external partners 

 (government) 

☐ By external partners 

 (non-government) 

☐ By unaffiliated 

 external researchers 

☐ Other (describe) 

FY21 and FY22 projects: 

 Data warehouse 

implementation 

(planned) 

 Executive level 

dashboards (planned) 

Statistics 

Collection, 

compilation, and 

processing of data for 

describing or 

estimating 

characteristics or 

insights concerning 

groups

Estimated share of 

all EvidenceBuilding Activities: 

 10%

Major activities: 

 Numismatic customer 

base research 

 Customer satisfaction 

measurement 

Series 1101 dedicated to 

survey research 

Survey research contract 

☒ For internal policy 

 decision-making 

☐ During internal 

 strategic 

management 

 processes 

☐ By external partners 

 (government) 

☐ By external partners 

 (non-government) 

☐ By unaffiliated 

 external researchers 

☐ Other (describe) 

FY21 and FY22 projects: 

 None 

Section III – Additional Information 

A – Summary of Capital Investments 

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

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

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

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

and protective service at $50 million. 

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

protection, and facility improvements. 

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

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

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

cost, schedule, risk, and performance goals, and that expected results and benefits are achieved. 
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Enterprise architecture reviews assess and reinforce alignment to the bureau’s strategic plan and 

the strategic enterprise direction of the Department of the Treasury. 

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

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

Property Profile, the Mint’s maintenance is scheduled and performed regularly to keep the 

manufacturing equipment operating at optimal levels. 

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

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