By William Roberds, a research economist and senior adviser with the Federal Reserve Bank of Atlanta. Recently, there has been much discussion as to whether central bank digital currencies (CBDCs) should be introduced, and if so, how they should be designed. This article offers a historical perspective on this discussion, with a survey of early […]
Workshop on monetary and financial history: Day one
The following is an excerpt of an article by Will Roberds, a research economist and senior adviser in the Atlanta Fed’s Research Department On May 21 and May 22, the Atlanta Fed hosted a virtual workshop on monetary and financial history. The workshop was organized by Michael Bordo (Rutgers University), William Roberds (the Federal Reserve […]
Cash is on the decline, but it’s far from finished
In a June 25 article by the Federal Reserve Bank of Atlanta entitled “Down but Not Out,” Payments Risk Expert Claire Greene outlined the various factors that influence the increase in cashless transactions. While an estimated one-third of consumer transactions are completed via the use of cash, the remaining two-thirds of those transactions are largely […]
US Mint Numismatic Program Net Income and Seigniorage Down 47% in FY 2014
During the fiscal year ended September 30, 2014, the United States Mint saw roughly flat revenue from their numismatic segment, although a shift in product mix and losses generated in some categories sent net income and seigniorage down 47%. Revenue for the numismatic segment was $504.5 million, yielding net income and seigniorage of $50.8 million. […]
US Mint Bullion Coin Revenue Drops 44.1% in FY 2014
The United States Mint’s bullion coin program experienced declines in both sales volume and revenue during the fiscal year ended September 30, 2014. Sales volume fell by 13.5% to 39,684,000 ounces of gold and silver content. Total revenue declined by 44.1% to $1.8 billion, sending net income down by 52.8% to $28 million. The United […]
US Mint Circulating Coin Shipments Reach 13 Billion Coins in FY 2014
During the fiscal year ended September 30, 2014, the volume of United States Mint circulating coin shipments to Federal Reserve Banks rose by 21.9% to more than 13 billion coins. This marked the fifth consecutive annual increase in circulating coin shipments. The value of the shipment for the latest fiscal year was $783 million against […]
United States Mint 2014 Financial Results
For the fiscal year ended September 30, 2014, the United States Mint recorded revenue of $3.10 billion, yielding seigniorage and net income of $367.9 million. These results represent a decline of 28.4% in revenue, but an increase of 25.8% in seigniorage and net income. The United States Mint is the world’s largest coin manufacturer, operating […]
Royal Canadian Mint Reports Record Revenue of $3.4 Billion
The Royal Canadian Mint reported revenue of nearly $3.4 billion for 2013, up by 30.7% from the prior year and representing the highest revenue in its history. Pre-tax profits reached $48 million, up by 17.9% from the prior year. Ian E. Bennett, President and CEO of the Royal Canadian Mint said, “In 2013, the execution […]
US Mint Numismatic Program Revenue and Net Income Rise in FY 2013
During the fiscal year ended September 30, 2013, the United States Mint reported higher numismatic revenue and net income, as the contributions from special product offerings offset continuing weakness for some traditional products. Revenue for the segment grew by 6.5% to $512.4 million, while net income and seigniorage increased by 29.6% to to $95.8 million. […]
US Mint Bullion Coin Sales Volume Reaches Record High in FY 2013
The United States Mint’s bullion program delivered stellar results during the fiscal year ended September 30, 2013. A sharp increase in demand drove record sales volume of 45,862,000 ounces of gold and silver bullion. Total revenue for the segment grew by 31.8% to more than $3.2 billion with net income more than doubling to $59.3 […]
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