What are the Functions of US Government Mint?

As everyone knows the US government mint is the facility that is in charge of making sure that there are more than enough amounts of currency to be used by the public. The US government mint has facilities in various locations in the country and these help the national government maintain a stable economy.

The US government mint performs other tasks besides distributing money in both paper and coin form to the various businesses, stores and public to use. The US government mint is also responsible for making sure that when a coin or paper currency needs to be re-issued that there are stringent security features placed on this currency. You will find that the US government mint is also responsible for bringing in old money that congress has recalled.

Usually the government will issue a recall for money only if there are problems that are occurring for reasons that have not been made clear. At other times it will be very necessary for the US government mint to re-issue certain amounts of money denominations.

Besides looking after the nation’s economic standard the US government mint also needs to make sure that it has a good hold on the gold and silver that is distributed in the form of coins. One type of coin that you can find in gold and silver are in the American Eagle group of coins. These coins are made and distributed to authorized coin dealers by the US government mint.

Since the government sometimes depends on its reserves of gold and silver it is necessary that the protection of these $100 billion assets are under constant guard. For this reason you will find that you can only enter this facility if you have the right to do so. The US government mint is the legal issuer of all the money that is printed in America.

Another facility that is under the supervision of the US government mint is that of the US Gold Bullion Depository in Fort Knox. Yes, that Fort Knox. The one that is famous for being the most secure place on earth. As you see the US government mint is not just a national money production and distribution center. It is also the keeper of this nation’s, and sometimes even other nations’, economic wealth.

For those of you who are interested in the role the US government mint has played in our history you may want to look at their official website. This web site will have many links that you can access to see the various functions that the US government mint performs everyday and how they help the country to develop itself even more.

Author: Muna wa Wanjiru