The Department of the Treasury United States Mint awarded A-Mark Precious Metals, Inc. an indefinite delivery contract with a potential value of $10 billion to provide silver raw material from its facility in El Segundo, California. The contract is a basic ordering agreement establishing A-Mark as the sole-source provider of silver to support the Mint's coin and medal production programs through December 2040. Subsequent firm fixed price delivery orders issued against this agreement total over $300 million and require A-Mark to supply silver raw material to the Mint on specified dates ranging from one to three weeks in duration. Places of performance are consistently identified as A-Mark's El Segundo location. No subcontractors or socio-economic set asides are noted in the award documentation provided.
As the sole producer of United States coinage, the Mint has ongoing significant requirements for precious metal commodities like silver to manufacture circulating coins. This indefinite delivery contract and associated delivery orders allow the Mint to reliably meet production needs by procuring silver in scheduled deliveries from A-Mark, a specialized precious metals supplier. The contract vehicles appear tailored to leverage A-Mark's expertise while furnishing the silver necessary for the Mint to fulfill its mission of minting and issuing coinage over the twenty year period of the agreement.
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