diff --git a/CHANGELOG.md b/CHANGELOG.md
index c3b5f366dd52..7352c385c01e 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -37,6 +37,10 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ## [Unreleased]
 
+### Bug Fixes
+
+* (x/mint) [#12384](https://github.com/cosmos/cosmos-sdk/pull/12384) Ensure `GoalBonded` must be positive when performing `x/mint` parameter validation.
+
 ## [v0.45.6](https://github.com/cosmos/cosmos-sdk/releases/tag/v0.45.6) - 2022-06-28
 
 ### Improvements
diff --git a/x/mint/types/params.go b/x/mint/types/params.go
index f0f9ef494bb9..be3d189c4e3b 100644
--- a/x/mint/types/params.go
+++ b/x/mint/types/params.go
@@ -171,8 +171,8 @@ func validateGoalBonded(i interface{}) error {
 		return fmt.Errorf("invalid parameter type: %T", i)
 	}
 
-	if v.IsNegative() {
-		return fmt.Errorf("goal bonded cannot be negative: %s", v)
+	if v.IsNegative() || v.IsZero() {
+		return fmt.Errorf("goal bonded must be positive: %s", v)
 	}
 	if v.GT(sdk.OneDec()) {
 		return fmt.Errorf("goal bonded too large: %s", v)