world
Reporter Traces South American Gold to Royal Canadian Mint
A New York Times investigative reporter examined the origins of gold used by the United States Mint for investor-grade coins. The inquiry revealed that gold originating in South America was mixed with U.S. gold and sent to the Royal Canadian Mint for refining. The Royal Canadian Mint had previously stated that all its refined gold originates in North America.
May 16, 6:00 AM·1m read2 sources
uctoday.comAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
U.S. law requires that such coins be made from gold mined in the United States.
The United States Mint obtains its gold from a small group of refiners, one of which is the Royal Canadian Mint. The reporter contacted the Royal Canadian Mint to inquire about the origin of its gold. The Royal Canadian Mint stated that all of the gold it refined originates in North America.
The reporter then turned attention to other aspects of the supply chain. A gold dealer in Texas later told the reporter that the company imported gold from South America, melted it with gold from the United States and sent the mixture to the Royal Canadian Mint for refining. The reporter decided to investigate the origins of the South American gold that the dealer had imported.
The investigation followed the path of drug cartel gold that reached mints in both the United States and Canada. The findings illustrate the complexities in tracing gold provenance through international supply chains that involve multiple refiners and mixing stages.
