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United States Mint Temporarily Shuts Down West Point Facility

Editor’s Note: The following is a reprint of an email message sent to industry press Wednesday, April 15. 

Due to the increasing number of COVID-19 cases in Orange County, New York, and out of an abundance of caution, the United States Mint has temporarily suspended production at the Mint facility at West Point. This action is being taken to further reduce the risk of Mint employee exposure to COVID-19. The Mint will resume production once it is deemed prudent to do so.

“My commitment to the health and safety of the Mint workforce is unwavering and continues to be my highest priority,” said Mint Director David J. Ryder. “These are challenging and unprecedented times, and decisions on Mint operations are made with the best interests of Mint employees first and foremost.”

During this temporary shutdown, the entire West Point facility will be thoroughly cleaned in accordance with the Centers for Disease Control and Protection (CDC) guidelines.

The Mint facility at West Point produces investment-grade gold, silver, platinum and palladium bullion coins. The United States Mint does not sell its bullion coins directly to the public. Instead, we distribute our coins through a network of official distributors called “authorized purchasers” who, in turn, create a two-way market buying and selling to precious metals wholesalers, private investors, and local bullion coin dealers.

Mint bullion coins are sold based on the prevailing market price of gold, silver, platinum or palladium plus a small premium to cover minting, distribution and marketing costs.  For more information about the United States Mint’s bullion program, please visit their website. For more information about the Mint facility at West Point, please visit https://www.usmint.gov/about/mint-tours-facilities/west-point.

 

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