Edmund C. Moy
Current Position: Director of the United States Mint (since Sept. 2006)
Boss: Deputy Treasury Secretary Neal S. Wolin
Why He Matters
As director of the U.S. Mint, Edmund Moy oversees the production of coins, which is related to more cash-centered retail activity. Having enough circulating coins allows for the economy to function. When businesses need more coins, they turn to the bank. When banks need coins, they turn to the Federal Reserve. The Mint manufactures coins to meet the Federal Reserve’s demand as well as bullion coins for investors and commemorative ones for collectors.
Edmund Moy on how Americans get their coins Alice Truong/MNS
Path to Power
After graduating from college in 1979, Moy worked as a sales and marketing executive for Blue Cross Blue Shield United in Wisconsin for 10 years. Eventually he was tapped to work for President George H.W. Bush’s administration at the Department of Health and Human Services, overseeing Medicare and Medicaid because of his background with HMOs and PPOs. Interview May 27, 2010
After working for the Department of Health and Human Services, he spent eight years as an analyst and strategist at the private equity firm Welsh, Carson, Anderson & Stowe. He then returned to the public sector and joined President George W. Bush’s administration in presidential personnel, where he recommended candidates for senior political appointees to the Cabinet and 32 independent federal agencies.
When he and his wife, Karen, decided to adopt their daughter, Nora, from China, he started looking for another job within the administration with a less hectic work schedule. There was an opening in the Mint and he was sworn in as director after coming back from China in September 2006.
In Their Own Words
“From the poorest person begging for change to the richest person … to be able to educate them in state geography and state history through the 50-state quarter program or to connect them through a common experience, through a coin flip at the 50-yard line to begin a football game or tossing a coin in a wishing well, coins are a part of our culture here in America.”
The Issues
Moy said he wanted to find cheaper alternative metals to the zinc, copper and nickel used in the manufacture of coins. Currently the law prevents the Mint from changing the metal content of the coin. The Mint has proposed an amendment to allow for changes in the metal content of coins so it can use cheaper metals.
During his tenure, Moy has stressed accountability at the Mint by coming out with monthly financial statements instead of annual ones. This allowed the organization and others to track the Mint’s performance on a more regular basis.
In addition, Moy has emphasized the importance of artistry in coins. “I, like Teddy Roosevelt, believe that coins are an extension of a country’s identity,” Moy said. The 50-state quarter program, which he said is the most successful coin program in the Mint’s history, spurred a new wave of collectors because of its unique designs. The Mint is rolling out another quarter program, this one to celebrate a national park from each state, territory and the district.
The Network
As director of the Mint, Moy works under Deputy Treasury Secretary Neal S. Wolin, who serves under Treasury Secretary Tim Geithner.
At a Glance
Current Position: Director of the United States Mint (since September 2006)
Career History: Special assistant to President George W. Bush for presidential personnel, 1989-1999; worked in private equity at Welsh, Carson, Anderson & Stowe; appointee at Health Care Financing Administration at the U.S. Department of Health and Human Services; sales and marketing executive at Blue Cross Blue Shield United, 1979-1989. http://www.usmint.gov/about_the_mint/?flash=yes&action=directors_office
Birthday: Sept. 12, 1957
Hometown: born in Detroit, Mich., grew up in Waukesha, Wis.
Alma Mater: University of Wisconsin-Madison, 1979, bachelor’s in economics, international relations and political science.
Spouse: Karen
Religion: The Falls Church (Episcopal)
DC Office: 801 9th St., NW