Tuesday, July 27, 2010

Director Edmond Moy says U.S. Mint is needlessly wasting hundreds of millions of dollars

"Compared to their face values, never before in our nation's history has the government spent as much money to mint and issue coins," say U.S. Mint Director Edmond Moy

Witnesses before and members of the U.S. House Subcommittee on Domestic Monetary Policy have urged Congress to direct the U.S. Mint to buy U.S. manufactured blanks for gold and silver bullion coins and discontinue the practice of using Australian-made blanks.

Meanwhile, the Director of the U.S. Mint Edmond Moy told the subcommittee that, if the Mint can begin production by September, "we will be able to produce about 830,000 one-ounce silver American Eagle coins to meet  . . .

Full story at: Mineweb

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