The United States Mint has released its Annual Report for 2021, highlight sales, costs and other key metrics for the nation’s coinage making branch. The 2021 Annual Report can be found here on the Mint’s site and is a worthwhile read for those interested in the behind-the-scenes aspects of the Mint.
For those who don’t have the opportunity to read the report in detail, here are a few of the key highlights:
- The Mint had $5.4202 billion in revenue for the 2021. This is up substantially from the $3.6268 billion that the Mint reported in 2020. Of that, 70.1% came from bullion sales and 10.6% from numismatic product sales. The remaining 19.3% was from circulating coinage.
- Revenue from circulating coinage was down to $1.044 billion in 2021. This was a slight decline from the $1.1685 billion in 2020.
- Bullion revenue was $3.7988 billion according to the 2021 Annual Report. This is up sharply from the $2.1117 billion in 2020. Of that, $2.1191 billion was from sales of the gold American Eagle and $992.2 million for silver American Eagle sales.
- Numismatic Product revenue jumped from $346.6 million to $577.4 million in 2021
- Overall net income for the United States Min in 2021 was $556.4 million
The report goes on further to outline the circulating coin shipment decrease that happened in 2021. As highlighted earlier this week in the Circulating Coinage Report, The Mint shipped 5% fewer coins last year when compared to 2020. The report indicates that this is largely due to the decrease in shipments of the Lincoln Cent and the Washington Quarter.
Circulating coin shipments decreased 5.0 percent to 14,701.0 million coins in FY 2021, driven by decreased shipments in the penny and quarter dollar. Circulating revenue decreased 10.7 percent to $1,044.0 primarily because of decreases in penny and quarter-dollar shipmentsUnited States Mint Annual Report for 2021
Diving further into the report, the Mint breaks down its bullion coin sales in detail. For the year, 1,440,000 ounces of gold were sold by the Mint last year. This up from the 860,000 ounces in 2020. The Mint also reported 35,999,000 ounces of silver sold in 2021, up from 23.737 million sold in 2020. Platinum sales also increased with 75,000 ounces sold versus 56,000 in 2020. All of this lead to a net income of $68.9 million for the Mint in 2021 after taking out the COGS (Cost of Goods Sold). Below is a more detailed breakdown of the different bullion products sold by the Mint, their revenue, COGS, and net income.
To read the full report, head to this link on the Mint’s site.