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Inspector general questions origin of gold used by U.S. Mint
By Paul Gilkes
Coin World, Sidney, Ohio
Saturday, December 28, 2024
During its most recent audit of the United States Mint's processes and control over gold bullion acquisition for bullion and numismatic programs, the Treasury Department's Office of Inspector General found "that the Mint cannot ensure most gold coins produced are minted from newly mined U.S. gold in compliance with the Gold Bullion Coin Act of 1985 and the Presidential $1 Coin Act of 2005."
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In its semi-annual report to Congress, covering April 1 through Sept. 30, 2024, OIG auditors noted the compliance issues were the result of "the mint's lack of documentation from its gold refiners certifying the amount of newly mined U.S. gold acquired. We also found it questionable whether the mint's methodology used to determine what constitutes newly mined U.S. gold is permissible under current U.S. law and that the mint's website represented certain gold coins as minted entirely from U.S. gold, which may mislead purchasers." ...
... For the remainder of the report:
https://www.coinworld.com/news/precious-metals/oig-report-questions-sources-of-gold-used-by-mint
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