A recent investigation has revealed that the U.S. Mint, which is legally mandated to utilize exclusively domestic gold, has been procuring material from international sources linked to drug cartels, pawn shops, and ethically compromised mining operations. While the Gold Bullion Coin Act of 1985 requires the use of newly mined American gold to avoid connections to human rights abuses, the Mint’s current supply chain practices allow foreign gold to be refined and rebranded, obscuring its origins before it is stamped into official coins.
Treasury Department auditors previously identified that the Mint failed to consistently verify the origins of its gold, raising questions about whether the agency’s “American” branding misleads investors. As gold prices reach historic highs, reaching approximately $5,000 per ounce, international criminal organizations have increasingly exploited these gaps to launder illicitly obtained ore into the legitimate market. In response to these findings, Treasury Secretary Scott Bessent has ordered a formal review of the Mint’s procurement and supply chain procedures to ensure future compliance with federal law.
