This is a basic ordering agreement to purchase gold bullion bars.
Active Indefinite Delivery Contract Awarded
- Contract number
- 2031JG23D00010
- Awardee
-
Bank Of Montreal UEI FDBXLAHUEKV6
- Awarding agency
-
United States Mint
Department of the Treasury
- Task orders
- 13 $162,194,885 obligated
Award facts
- Combined order value
- $162,194,885 Current and potential, with all options
- Last date to order 20% complete
- IDV ceiling 2% used
- $10,000,000,000.00
- Award type
- Single award
- Who can order
- Only the awarding agency
- NAICS code
- 331410 Nonferrous Metal (except Aluminum) Smelting and Refining
- PSC
- 9660 Precious Metals Primary Forms
- Set-aside
- No set-aside
- Competition
- Full and Open Competition · 5 offers Negotiated Proposal / Quote
- Pricing
- Firm Fixed Price
Award details come from SAM.gov/FPDS.
About this IDV
The Department of the Treasury United States Mint awarded an indefinite delivery contract to Bank of Montreal for the provision of raw gold bullion. The contract has a potential value of $10 billion and a period of performance through March 2040. Ten firm fixed price delivery orders were issued against this contract vehicle from October 2023 through July 2023 to procure raw gold bullion for the Mint's coin manufacturing operations. Delivery locations included Chicago, Illinois; Ottawa, Ontario; with order values ranging from approximately $2-26 million. As the Mint is responsible for minting circulating coins and managing the nation's gold reserves, the contracted gold bullion is likely intended to supply production of official United States bullion coins and support other statutorily authorized purposes. No subcontractors or socioeconomic program set asides were specified for this procurement.
The multiple delivery orders indicate the Mint requires regular gold inputs for coin minting. The contracts capture intermittent gold needs over a 7-month period, with periods of performance varying between 5-14 days. Order locations in both the U.S. and Canada provide flexibility to source gold where most cost effective. Taken together, the indefinite delivery contract and delivery orders establish a long-term supply arrangement and enable timely gold acquisitions as Mint production demands.
Task orders
| Task order | Ordering agency | Obligated | Awarded |
|---|---|---|---|
| Provide raw gold bullion | United States Mint | $5,395,709 | |
| Provide raw gold bullion | United States Mint | $65,354,486 | |
| Provide raw gold bullion | United States Mint | $2,295,859 | |
| Provide raw gold bullion | United States Mint | $10,900,178 | |
| Provide raw gold bullion | United States Mint | $3,137,409 | |
| Provide raw gold bullion | United States Mint | $2,224,413 | |
| Provide raw gold bullion | United States Mint | $7,186,401 | |
| Provide raw gold bullion | United States Mint | $10,898,654 | |
| Provide raw gold bullion | United States Mint | $26,037,462 | |
| Provide raw gold bullion | United States Mint | $10,012,870 | |
| Provide raw gold bullion | United States Mint | $2,181,908 | |
| Provide raw gold bullion | United States Mint | $6,767,848 | |
| Provide raw gold bullion | United States Mint | $9,801,687 |
Show all 13
Quick answers
Who was awarded contract 2031JG23D00010?
2031JG23D00010 was awarded to Bank Of Montreal by United States Mint (Department of the Treasury) on June 9, 2023.
How much is contract 2031JG23D00010 worth?
Orders under 2031JG23D00010 have obligated $162,194,885. 2031JG23D00010's own ceiling is $10,000,000,000.
How many orders have been placed under contract 2031JG23D00010?
13 orders have been placed under 2031JG23D00010, the latest on January 23, 2024.
Who can order from contract 2031JG23D00010?
2031JG23D00010 is a single award indefinite delivery contract. Only the awarding agency can place orders on it.
Was contract 2031JG23D00010 competed?
The extent of competition for 2031JG23D00010 was full and open competition. The government received 5 offers.
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