U.S. Mint Buys Drug Cartel Gold and Sells It as ‘American’
The New York Times • • world
Key Points:
- A New York Times investigation reveals that the U.S. Mint, which sells over $1 billion in gold coins annually, is inadvertently laundering foreign gold, including illegally mined gold from Colombian drug cartel mines.
- The gold from these illicit sources is linked to environmental harm, worker poisoning, and funding of terrorism and cocaine trafficking.
- Despite legal guarantees that Mint gold is 100% American, the investigation shows the gold supply chain includes non-American and illegal gold.
- The high gold price, around $5,000 an ounce, incentivizes criminal mining operations, undermining industry safeguards and enabling illicit gold to enter the U.S. market.
- Even special commemorative coins, such as President Trump’s 24-karat 250th anniversary coin, may contain gold sourced from illegal or foreign mines.
