I know that when the mint normally prints money, it doesn’t make any profits. It takes money of one form (old dirty money or electronic money) and converts it into another.
But what about when it prints commemorative, etc, coins and people hoard them? Where do all those huge profits go?
The mint makes an enormous amount of profit simply by printing money, and a lot from having the US dollar as the world’s reserve currency. Printing commemorative coins, while surprisingly profitable, is but a drop in the bucket from the money the mint earns. Anyway, all this money goes straight to the US Treasury and ultimately to paying down bonds and T-bills.
The US Mint doesn’t make any money from printing currency. That is the job of the US Treasury Dept. Bureau of Engraving and Printing.
Don’t confuse the mint and the BEP. Coins are produced by the mint. Money is printed by the BEP (Bureau of Engraving and Printing). They are different agencies, though both are under the treasury dept.
The home page for the mint says:
By “money” I assume you mean “paper currency”? Coins were as much money as bank notes, last time I checked.
Heh, OK, but they aren’t “printed”, so the mint still doesn’t print money.
Last I heard, the U.S. mint is taking a loss on pennies and nickels. They cost more to manufacture than their face value.
Might be time to start thinking out of the box here…
But they’re making a mint on dollar coins.