Spartan Profiles: Jay Johnson

COINS ARE US

            A penny a day . . . Those who underrate the value of coins today might be surprised to know that the U.S. Mint—founded in 1792—has grown to a Fortune 500-sized manufacturing company with 2,800 employees, $3.7 billion in annual revenues, and assets that include the bullion depository at Ft. Knox, KY. When Jay Johnson, M.A. ’70, senior advisor at the U.S. Dept. of Treasury, was named director of the U.S. Mint in May 2000, he spearheaded the production of some 27 billion coins a year, promoted the new “50 State” quarters and the Golden Dollar (featuring Sacajawea), and generated more than $2.5 billion in profits. “That money went to the treasury coffers and helped pay off the national debt,” says Johnson, adding that the Michigan quarter “will be launched in 2004 and there should be quite a ceremony in Lansing. This program has been terrific at getting people to learn the history and the geography of their states.”

            A native of Bessemer, Jay, whose director’s medal prominently features the Upper Peninsula, worked 36 years in television broadcasting before winning election to Congress in 1996 from Green Bay, Wisconsin. “There’s no question being head of the U.S. Mint was a high profile job,” says Jay, who came to MSU in 2000 to recruit Spartans for the treasury. “I came to MSU to get my master’s but ended up doing some teaching and working three jobs,” he recalls. “In 1969 I was the anchor for WILX-TV (Channel 10). I once hosted a TV program with my then classmate, Robert Urich, who has since become a well known actor. We still keep in touch.”

            Not everything in Hollywood sits well with Jay, however. “The movie Goldfinger perpetuates many myths,” he grumbles. “The real Fort Knox is much smaller than they showed. It’s really just a vault in the middle of the country. And it’s very well protected.” Can someone actually break in and steal the $100 billion in precious metals? Says Jay, “No way.”