NYT Investigation: U.S. Mint Buys Drug Cartel Gold and Sells It as 'American'

goodinfo.net — Sun, 26 Apr 2026 17:00:00 +0800

📰 Article Body

The New York Times published a major investigative report on April 26, 2026, revealing that the U.S. Mint has been purchasing significant quantities of gold from questionable sources over many years, with some of the metal traceable to Latin American drug cartel networks. The gold, after undergoing official refining processes, is then cast into commemorative coins, bars, and other products sold globally to consumers and investors under “American-made” labels.

According to the investigation, the U.S. Mint has systemic vulnerabilities in its gold supply chain review process. Although the agency claims all procurement follows federal regulations, internal documents and knowledgeable sources indicate that the Mint has failed to effectively trace the original sources of gold when vetting suppliers. Some gold enters the Mint’s refining process through complex intermediary networks — entities that maintain connections with organizations designated by the U.S. Department of Justice as drug trafficking operations.

The report notes that the issue dates back several years. When questioned about the matter, a U.S. Mint spokesperson stated that the agency has launched an internal review and will cooperate with the Treasury Department and the Justice Department in the investigation. “The U.S. Mint is committed to maintaining the highest standards of procurement compliance, and we have a zero-tolerance policy for any issue that could compromise supply chain integrity,” the spokesperson said in a statement.

The investigation also found that these problematic gold shipments ultimately enter the Mint’s regular production pipeline, where they are mixed with gold from compliant mines during refining. Because gold loses its original provenance markers during the refining process, consumers have virtually no way of determining whether the bars or commemorative coins they purchase contain materials of dubious origin.

The revelations have drawn attention from lawmakers and industry regulators. A member of the House Financial Services Committee said the body would consider holding hearings on the matter and has requested more detailed supply chain audit records from the U.S. Mint. Precious metals industry analysts noted that if confirmed, this could represent one of the most serious trust crises facing the U.S. precious metals supply chain in recent years.

Notably, the U.S. Mint is not the only institution facing such challenges. The global precious metals supply chain has long been plagued by the infiltration of “conflict minerals” and illegally mined gold into legitimate markets. The World Gold Council has repeatedly called for stronger industry self-regulation and traceability systems, but progress has been slow.

Currently, both the U.S. Treasury Department and the Justice Department have indicated they will launch formal investigations into the matter. The U.S. Mint has announced it will suspend cooperation with certain intermediary dealers pending the outcome of the investigation.

Source: The New York Times, Google News

Investigation on goodinfo.net Daily

NYT Investigation: U.S. Mint Buys Drug Cartel Gold and Sells It as 'American'

📰 Article Body