U.S. Mint shutters West Point facility indefinitely, interrupting production

[kena]

U.S. Mint shutters West Point facility indefinitely, interrupting production

By Paul Gilkes , Coin World
Published: Apr 16, 2020, 4 PM

The West Point Mint's indefinite shutdown April 15 pursuant to coronavirus pandemic safety precautions will affect the production and release of precious metal bullion, collector coins and gold commemoratives.

The shutdown will also affect output of circulation-quality 2020-W America the Beautiful quarter dollars and Proof, Reverse Proof and Uncirculated Jefferson 5-cent coins issued as bonuses to annual Proof, Silver Proof and and Uncirculated Mint sets, respectively.

"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 (Mint) has temporarily suspended production at the Mint facility at West Point," according to the April 15 release issued after 3 p.m. Eastern Time by U.S. Mint spokesman Michael White. "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."

U.S. Mint Director David J. Ryder said the precautionary measures are necessary.

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

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

The West Point Mint was previously shuttered on March 28 after a nonproduction employee at the facility tested positive for the virus. The facility remained closed for cleaning, with production resumed April 1.

The current shutdown will affect production including American Eagle gold, silver and platinum bullion coins and American Buffalo gold bullion coins; American Eagle and American Buffalo coins in Uncirculated and Proof finishes; and 2020-W Proof and Uncirculated Basketball Hall of Fame $5 gold coins.

The U.S. Mint did not disclose how many American Eagle bullion coins in each precious metal or American Buffalo gold coins it had in inventory before the April 15 production interruption.

"During the temporary suspension of operations at the Mint facility at West Point, the U.S. Mint will continue to make American Eagle and America the Beautiful silver bullion coins available to its network of Authorized Purchasers," said White in answer to follow-up questions by Coin World. "American Eagle and American Buffalo gold coins will not be available."

The 5-ounce silver coins are produced at the Philadelphia Mint which, like the Denver Mint, is fully operational, with both facilities primarily focused on production of coins for general circulation.

The Fort Knox Bullion Depository in Kentucky is also fully operational, White said.

Since Washington, D.C., is under a stay-at-home order, most Mint employees at Mint headquarters are working remotely.

"With limited staff and U.S. Mint Police present at Mint Headquarters, professional cleaning staff have instructions to rotate through the building every hour to wipe and disinfect touch surfaces," White said. "Additional cleaning is being performed in common areas and at entrances and security checkpoints. Mission essential personnel who continue to work at Mint Headquarters wear facemasks and practice social distancing."

U.S. Mint officials have also not disclosed how many examples of each numismatic product option already struck in precious metals at the West Point Mint are in inventory for shipment from the bureaus's contracted order fulfillment center in Memphis, Tennessee, to customers who order them.

New product launches remain uncertain. As of April 15, the last numismatic product the U.S. Mint listed in its online sales catalog was the April 17 launch of sales of the 2020-S Silver Proof set.

"The U.S product schedule online accurately reflects the information we have at this time," White said.

The 2020 product schedule identifies a half dozen anticipated West Point Mint products without listing specific release dates, and with the status listed as TBD (To Be Determined).

Those products are:

➤ Uncirculated 2020-W American Eagle 1-ounce gold $50 coin

➤ Uncirculated 2020-W American Eagle 1-ounce palladium $25 coin

➤ Proof 2020-W American Eagle 1-ounce silver dollar coin

➤ Uncirculated 2020-W American Eagle 1-ounce silver dollar coin

➤ Proof 2020-W End of World War II 75th Anniversary gold coin

➤ Proof 2020-W End of World War II 75th Anniversary silver coin.

[kena]

I saw this article today:

The United States Mint (Mint) will resume limited production Tuesday morning, April 21st at the Mint facility at West Point. During the temporary suspension of operations at the West Point Mint, in consultation with local public health officials, a thorough cleaning of the facility was conducted in accordance with Centers for Disease Control and Prevention (CDC) guidelines. Additional social distancing procedures were implemented, building on measures previously taken to reduce the risk of employee exposure to COVID-19. Mint employees at West Point have been designated mission-essential.

United States Mint to resume West Point operations | Coin Update

[Figleaf]

The number of daily new cases in the US is stabilising on an unprecedented level of 25 to 35 000, the highest in the world at any time during the pandemic. The number of deaths is still climbing. Deeming the production of luxury articles without any practical use as essential is sending the wrong message to the US population at large. While it may be that the Mint has taken sufficient measures, re-opening it now still endangers lives outside the Mint by giving the wrong impression. Since this policy is actively pushed by the White House, it may be politically motivated, which would be disgusting.

Peter

[kena]

U.S. Mint at San Francisco to Resume Operations on May 4 | Coin News

The United States Mint facility at San Francisco will resume operations the morning of Monday, May 4, 2020, utilizing a reduced staffing plan in order to maintain social distancing.

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Europe is opening up and the per capita rates are high but other countries have higher rates.

Did you see this map?

Data shows potential COVID-19 spread from Florida spring breakers | Where

[redlock]

Did you see this map?

Data shows potential COVID-19 spread from Florida spring breakers | Where

...and, in Europe, the virus was mostly spread by returning ski tourists from Italy and Austria and the carnival festivities here in Germany.

[Figleaf]

And so what? The Spanish flu wasn't from Spain. French fries are not from France. A Dutch oven is not from the Netherlands. Knowing where a contaminated person got the virus from is useful only because you should want to warn and test that person and anyone else who contacted the patient - the Korean approach, not to play barren blame games.

The virus knows no boundaries. Blaming someone else is at best a lame diversion. The real issue is stopping the virus.

Peter

[redlock]

And so what? The Spanish flu wasn't from Spain. French fries are not from France. A Dutch oven is not from the Netherlands. Knowing where a contaminated person got the virus from is useful only because you should want to warn and test that person and anyone else who contacted the patient - the Korean approach, not to play barren blame games.

The virus knows no boundaries. Blaming someone else is at best a lame diversion. The real issue is stopping the virus.

Peter

If it sounded like I am blaming someone I am sorry. That was not my intention. I was just pointing out how the virus spread.

[Bimat]

US Mint Asks Americans To 'Start Spending Their Coins' Amid Shortage

By Clare Duffy, CNN Business
July 24, 2020 at 10:04 am

(CNN) — Uncle Sam wants YOU to dig under your couch cushions and unearth your spare change.

No, really.

The United States is in the midst of a nationwide coin shortage brought on by the coronavirus pandemic, making life difficult for banks, retailers and anyone who regularly pays with cash. The US Mint, which is in charge of producing new money to replenish the country's supply, is working on addressing the issue, and now it's asking Americans to help out, too.

The Mint is asking people to pay with exact change and to find other ways to return coins they may have lying around to circulation, it said in a press release Thursday.

"We ask that the American public start spending their coins, depositing them, or exchanging them for currency at financial institutions or taking them to a coin redemption kiosk," the Mint said in the release. "The coin supply problem can be solved with each of us doing our part."

Federal Reserve Chairman Jerome Powell spoke about the coin shortage during a virtual hearing with the House Financial Services Committee last month. He explained that since more people have been staying home, shopping online and avoiding physical currency because of the pandemic, the normal flow of coins through the economy was interrupted.

"The places where you go to give your coins, and get credit at the store and get cash ... those have not been working. Stores have been closed," he said. "The whole system has kind of come to a stop."

The US Mint also briefly slowed coin production to implement safety measures for workers, though it says it resumed regular production in mid-June.

In response, the Fed convened a US Coin Task Force to work on restoring the coin supply chain. And in the meantime, companies have come with ways to manage — some retailers have warned customers they may not be able to receive change in coins and one bank is even paying people to bring in their spare change.

The shortage could be especially painful for low-income consumers, who are more likely to pay in cash — potentially exacerbating the impact of the coronavirus crisis, which has already hit low-income communities hard. It may also be a burden to some retailers, for which accepting credit and debit card purchases can come with fees that cash transactions don't.

Third-party coin processors and retail activity account for the majority of coins put in circulation, according to the Mint. Last year for example, those sources accounted for 83% of coins in the supply chain.

"There is an adequate amount of coins in the economy, but the slowed pace of circulation has meant that sufficient quantities of coins are sometimes not readily available where needed," the Mint said Thursday. "We are asking for your help in improving this coin supply issue."

Source: Boston CBSLocal

[brandm24]

I've heard about that too, Bimat. As a matter of fact I've noticed signs posted in some stores asking for change in payment, including my local Post Office. Does anyone know of money supply issues in other countries?

Bruce

[redlock]

AFAIK, there have been no issues supplying the German economy and people with banknotes and coins these last few months.

[chrisild]

Of course you are still asked, at many places in Germany, to pay with a card, and preferably contactless. But that is due to the pandemic and trying to avoid unnecessary contacts. Has nothing to do with the cash supply - there is no shortage.

In the recent past there have been supply issues in some "remote" areas, notably the relatively small North Sea islands. So roughly half a year ago there were plans, on the island of Wangerooge, to not use the low denomination coins any more. One problem is that the bank they primarily get their coins from said that shipping them was too costly. That started "before Corona" so to say ...

Christian

[eurocoin]

While no mints are currently closed, the US is at this moment having yet another coin shortage. It does not seem to be as severe yet as the one of last year but it is not looking good.