Fiscal 2015 U.S. Mint revenue up in two categories, down in one

Numismatic revenue down, but circulating and bullion coin revenue rises
By , Coin World
Published : 02/03/16
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The absence of a break-out numismatic product in Fiscal Year 2015 and a decline in the Mint’s customer base contributed to a decline in numismatic revenue for the year compared to the previous fiscal period, according to the just released 2015 Annual Report of the Director of the Mint.

In contrast, the Mint’s two other sources of revenue — sales of circulating coinage to the Federal Reserve Bank and sales of bullion coins to its authorized purchasers — both registered sizeable gains over Fiscal Year 2014 sales.

Numismatic product revenues dropped 10.2 percent in FY2015 to $453.2 million. The $51.3 million decrease included a $40.2 million decrease in sales of gold and platinum coin products.

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The Mint’s principal deputy director, Matthew Rhett Jeppson, offered an explanation, stating, “We believe the decline in revenue and unit sales is primarily driven by the absence of some of last year’s most popular products, such as the Baseball Hall of Fame commemorative coins, and the shrinking customer base of numismatic hobbyists.”

The report, released Feb. 2, covers the federal Fiscal Year 2015, which ran from Oct. 1, 2014, through Sept. 30, 2015.

While the Mint did offer collectors and dealers a distinctive product in FY2015, the sales generated were slightly below those of a different distinctive product offered in fiscal 2014.

The 2015 American Liberty High Relief gold $100 coin, a coin only available during calendar 2015, did not generate as much revenue as the 1964–2014 Kennedy 50th Anniversary gold half dollar. The Kennedy gold half dollar generated $76.2 million in revenue, compared to $62.6 million for the 2015 American Liberty gold coin.

In marked contrast, an increase in revenue generated by the sale of circulating coins to the Federal Reserve Banks was noted, with the total reaching $1,114,000,000 in 2015, 42.3 percent higher than 2014. The increase was driven by a $240.3 million increase (or 57 percent) in quarter dollar revenue and $65 million increase (or 29.2 percent) in dime revenues over 2014.

2015 circulating coin shipments to the FRB increased to 16.2 billion coins, 3.2 billion coins more than 2014 shipments.

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