U.S. Mint:

Procurement of Clad Metal for Coins

GGD-91-78BR: Published: May 17, 1991. Publicly Released: May 17, 1991.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO reported on the U.S. Mint's procurement of clad material.

GAO found that: (1) the Mint essentially awarded contracts for clad materials to the only firm that has submitted bids in response to solicitations for fabrication and delivery of clad material; (2) while competing contractors may subcontract for segments of work, the Mint required the contractor to provide the finished clad strip to eliminate the need for the Mint to administer a production process with several contractors; (3) the Mint generally awarded contracts quarterly and called for delivery during a 9-month period; (4) other firms could not produce clad material at a price competitive with the awardee; (5) because the awardee is the only bidder, the Mint is potentially vulnerable to price increases; (6) stockpiling of inventories of coins could protect the Mint against the interruption of shipments from the current supplier; and (7) the current supplier's capacity to meet demand for the production of a new dollar coin is dependent on the metallic content of the new coin and the process used to produce it.

Sep 30, 2016

Sep 29, 2016

Sep 28, 2016

Sep 27, 2016

Sep 26, 2016

Sep 23, 2016

Sep 21, 2016

Sep 7, 2016

Aug 30, 2016

Looking for more? Browse all our products here