Mint News Blog

News, Information, and Commentary on US Mint Products

Friday, February 4, 2011

Quick US Mint Updates

There are a few quick items related to the United States Mint that I wanted to cover before the weekend. Silver bullion sales have broken another record, new leadership was announced, and the US Mint set up their own YouTube channel.

American Silver Eagle bullion sales

Over the course of the past three years, the US Mint's silver bullion sales have broken numerous records. This began with the record annual sales achieved in 2008. This followed with new annual sales records achieved in 2009 and 2010. Last year, a monthly sales record was also set in November 2010, breaking the long standing prior record from December 1986.

In January 2011, a fresh monthly sales record was set by a wide margin. The US Mint sold 6,422,000 of the one ounce American Silver Eagle bullion coins. This exceeded the previously monthly sales record by more than 2 million.

Incredibly, the latest monthly total also exceeds the annual sales totals for the program during ten separate years. Also, the new monthly record was achieved despite the fact that the US Mint has been rationing supplies to authorized purchasers once again.

New United States Mint Deputy Director

Effective January 9, Edmund Moy resigned his position as Director of the United States Mint. Four days later, Deputy Director Andrew Brunhart left the US Mint for a position at the Bureau of Engraving and Printing. With these two positions empty, Treasurer of the United States Rosie Rios was overseeing the operations of the US Mint and carrying out the duties of the Director.

Numismatic News has reported that Richard Peterson has been named the new US Mint Deputy Director. He was formerly the US Mint Associate Director of Manufacturing.

In his new position, he will serve as the acting director of the US Mint until a new Director is nominated by the President and confirmed by the Senate.

United States Mint on YouTube

The United States Mint has started their own YouTube channel. They posted their first video three days ago, "A Tribute to John Mercanti". He recently retired from his position as Chief Engraver of the United States Mint.

The new YouTube channel follows other similar efforts by the US Mint. Last year, they started a Twitter account and set up a Facebook page.

Their most recent annual report indicated that they were "modernizing customer relations by communicating to people in diverse ways." They went on to highlight the number of "followers" and "likes" they had recorded.
Today on Coin Update News:
Interview with Jim Halperin, Co-Chairman of Heritage Auctions