Objection Mounts Against U.S. Mint's Outsourcing

Source: Commodity Online  (4/12/11)

"Witnesses testifying before the House Committee express outrage over outsourcing of labor for U.S. gold bullion coin manufacturing."

Objection against U.S. Mint outsourcing manufacturing for gold, silver and platinum coins from Australia is mounting, with four witnesses testifying before the House Committee's Financial Services Subcommittee on Domestic Monetary Policy and Technology.

Beth Deisher, editor of Coin World, told the subcommittee that the quality of silver, gold and platinum coins produced by the mints is exceptional, but was poorly marketed in the country. Several members of the subcommittee were reportedly incensed.

Currently, the primary supplier of silver bullion blanks is the Coeur d'Alene Mint in Idaho, with the First Mint of Australia as back-up. Hansen suggested, "It should be made in the United States, not overseas. We're providing American jobs."

Beth Deisher cited the Mint's decision to produce only 33,000 of each design of the 5-ounce .999 fine silver versions for the 2010 America the Beautiful quarter dollars. The program was approved in December 2008 but production did not actually begin until September 21 and offered only 33,000 of each design, against its earlier announcement to produce 100,000 of each, thereby causing an online purchasing rush. The buyers had to wait for hours to open the U.S. Mint site and place orders, she said.
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