US Mint Reports Near Record Production Levels

In 2022, the US Mint continued to manufacture coins at near record levels, producing nearly 14 billion in the year.

The Mint, established in 1792 and the world’s largest coin manufacturer, generates revenue through the sales of circulating coins to the Federal Reserve Banks, numismatic products to the public and bullion coins to authorised purchasers. It operates six facilities and employs approximately 1,600 people. Since 1996 it has operated under the Public Enterprise Fund (PEF), with revenue in excess of amounts required by the PEF being transferred to the US Treasury.

In 2022 the Mint achieved revenues of $5.32 billion, compared with $5.42 billion in 2021, a decrease of 1.7%. The cost of goods sold decreased by 1.4% to $4.62 billion and selling, general, and administrative expenses increased by 6%, resulting in seigniorage of $534 million which was transferred to the Treasury General Fund. This was lower than 2021 due to the impact of decreased circulating coin and increased metal costs.