Treasury's $32.5M Coinage Metal Contract Awarded to Wieland Rolled Products
Contract Overview
Contract Amount: $32,551,602 ($32.6M)
Contractor: Wieland Rolled Products North America, LLC
Awarding Agency: Department of the Treasury
Start Date: 2020-08-03
End Date: 2020-09-04
Contract Duration: 32 days
Daily Burn Rate: $1.0M/day
Competition Type: FULL AND OPEN COMPETITION
Number of Offers Received: 2
Pricing Type: FIRM FIXED PRICE
Sector: Other
Official Description: PROVIDE STRIP AND METAL FOR CIRCULATING COINAGE.
Place of Performance
Location: LOUISVILLE, JEFFERSON County, KENTUCKY, 40241
State: Kentucky Government Spending
Plain-Language Summary
Department of the Treasury obligated $32.6 million to WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC for work described as: PROVIDE STRIP AND METAL FOR CIRCULATING COINAGE. Key points: 1. Contract awarded for essential coinage metal supply. 2. Wieland Rolled Products, a significant player, secured the award. 3. Risk appears low given the commodity nature and established supplier. 4. Spending falls within the industrial materials sector.
Value Assessment
Rating: good
The contract value of $32.5M for coinage strip and metal is reasonable for the specified materials and duration. Benchmarking against similar commodity procurements suggests competitive pricing.
Cost Per Unit: N/A
Competition Analysis
Competition Level: full-and-open
The contract was awarded under full and open competition, indicating a robust price discovery process. This method likely resulted in a fair and competitive price for the government.
Taxpayer Impact: Taxpayers benefit from competitive pricing achieved through an open bidding process for essential government materials.
Public Impact
Ensures the continuous production of U.S. coinage. Supports the nation's monetary system and financial infrastructure. Provides essential raw materials for the U.S. Mint's operations.
Waste & Efficiency Indicators
Waste Risk Score: 50 / 10
Positive Signals
- Full and open competition utilized
- Essential government function supported
- Established supplier with relevant experience
Sector Analysis
This contract falls within the industrial materials and manufacturing sector, specifically related to metal processing for coinage. Spending benchmarks for similar raw material procurements are generally stable.
Small Business Impact
The data indicates that small businesses were not directly involved in this specific contract award. Further analysis would be needed to determine if small businesses are part of the supply chain for Wieland Rolled Products.
Oversight & Accountability
The contract was awarded by the Department of the Treasury's U.S. Mint, a federal agency with established procurement oversight. Standard contract management and performance monitoring processes would apply.
Related Government Programs
- Copper Rolling, Drawing, Extruding, and Alloying
- Department of the Treasury Contracting
- United States Mint Programs
Risk Flags
- Potential single-source dependency risk
- Commodity price volatility
- Supply chain disruption potential
Tags
copper-rolling-drawing-extruding-and-all, department-of-the-treasury, ky, delivery-order, 10m-plus
Frequently Asked Questions
What is this federal contract paying for?
Department of the Treasury awarded $32.6 million to WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC. PROVIDE STRIP AND METAL FOR CIRCULATING COINAGE.
Who is the contractor on this award?
The obligated recipient is WIELAND ROLLED PRODUCTS NORTH AMERICA, LLC.
Which agency awarded this contract?
Awarding agency: Department of the Treasury (United States Mint).
What is the total obligated amount?
The obligated amount is $32.6 million.
What is the period of performance?
Start: 2020-08-03. End: 2020-09-04.
What is the historical pricing trend for the specific copper alloys used in coinage?
Historical pricing for copper alloys used in coinage is influenced by global commodity markets, particularly the price of copper. Fluctuations can occur due to supply and demand, geopolitical events, and economic conditions. Understanding these trends is crucial for assessing the long-term value of such contracts and for future negotiation strategies.
Are there any potential supply chain risks associated with relying on a single supplier for this critical material?
While Wieland Rolled Products is a significant supplier, relying on a single source for critical materials can introduce supply chain risks. These could include production disruptions, price volatility, or geopolitical issues affecting the supplier. Mitigation strategies might involve diversifying suppliers or maintaining strategic reserves.
How does the quality and consistency of the delivered metal impact the minting process and coin durability?
The quality and consistency of the metal strip are paramount for efficient minting and coin durability. Variations in alloy composition, thickness, or surface finish can lead to production issues, increased scrap rates, and ultimately, coins that do not meet required standards for wear resistance or appearance.
Industry Classification
NAICS: Manufacturing › Nonferrous Metal (except Aluminum) Production and Processing › Copper Rolling, Drawing, Extruding, and Alloying
Product/Service Code: METAL BARS, SHEETS, SHAPES
Competition & Pricing
Extent Competed: FULL AND OPEN COMPETITION
Solicitation Procedures: SUBJECT TO MULTIPLE AWARD FAIR OPPORTUNITY
Offers Received: 2
Pricing Type: FIRM FIXED PRICE (J)
Evaluated Preference: NONE
Contractor Details
Address: 4801 OLYMPIA PARK PLZ STE 3500, LOUISVILLE, KY, 40241
Business Categories: Category Business, Limited Liability Corporation, Manufacturer of Goods, Not Designated a Small Business, Special Designations, U.S.-Owned Business
Financial Breakdown
Contract Ceiling: $32,551,602
Exercised Options: $32,551,602
Current Obligation: $32,551,602
Contract Characteristics
Commercial Item: COMMERCIAL PRODUCTS/SERVICES
Cost or Pricing Data: NO
Parent Contract
Parent Award PIID: 2031JG18D00001
IDV Type: IDC
Timeline
Start Date: 2020-08-03
Current End Date: 2020-09-04
Potential End Date: 2020-09-04 00:00:00
Last Modified: 2025-08-12
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