§ 5133. Settlement of accounts

• (a) The Secretary of the Treasury shall—
  • (1) charge the superintendent of each mint with the amount in weight of standard metal of bullion the superintendent receives from the Secretary;
  • (2) credit each superintendent with the amount in weight of coins, clippings, and other bullion the superintendent returns to the Secretary; and
  • (3) charge separately to each superintendent, who shall account for, copper to be used in the alloy of gold and silver bullion.
• (b)
  • (1) At least once each year, the Secretary of the Treasury shall settle the accounts of the superintendents of the mints.
  • (2) At any settlement under this subsection, the superintendent shall—
    • (A) return to the Secretary any coin, clipping, or other bullion in the possession of the superintendent; and
    • (B) present the Secretary with a statement of bullion received and returned since the last settlement (including any bullion returned for settlement).
  • (3) The Secretary shall—
    • (A) audit the accounts of each superintendent; and
    • (B) allow each superintendent the waste of precious metals that the Secretary determines is necessary—
      • (i) for refining and minting (within the limitations which the Secretary shall prescribe); and
      • (ii) for casting fine gold and silver bars (within the limit prescribed for refining), except that any waste allowance under this clause may not apply to deposit operations.
• (c) After settlement, the Secretary shall compare the amount of gold and silver bullion and coins on hand with the total liabilities of the mints. The Secretary also shall make a statement of the ordinary expense account.
• (d) The Secretary shall procure for each mint a series of standard weights corresponding to the standard troy pound of the National Institute of Standards and Technology of the Department of Commerce. The series shall include a one pound weight and multiples and subdivisions of one pound from .01 grain to 25 pounds. At least once a year, the Secretary shall test the weights normally used in transactions at the mints against the standard weights.