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Why does the 'US MINT' need to make a profit?
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<p>[QUOTE="beef1020, post: 1860838, member: 24544"]Mint's historically have always made a profit on coinage, it's call seigniorage. It's the difference in the price of the metal + the cost of minting (labor + capital costs) subtracted from the face value of the coins. The US mint still does this, hence the change from copper pennies in 1982 to zinc pennies, they were losing money when copper prices rose so they switched. I beieve the US Mint is close to, or fully self-funding.[/QUOTE]</p><p><br /></p>
[QUOTE="beef1020, post: 1860838, member: 24544"]Mint's historically have always made a profit on coinage, it's call seigniorage. It's the difference in the price of the metal + the cost of minting (labor + capital costs) subtracted from the face value of the coins. The US mint still does this, hence the change from copper pennies in 1982 to zinc pennies, they were losing money when copper prices rose so they switched. I beieve the US Mint is close to, or fully self-funding.[/QUOTE]
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Why does the 'US MINT' need to make a profit?
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