diff --git a/CHANGELOG.md b/CHANGELOG.md
index baa0cbbdfa6..2076115c71a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -49,6 +49,7 @@ Ref: https://keepachangelog.com/en/1.0.0/
 
 ### Bug Fixes
 
+* (x/mint) [#12384](https://github.com/cosmos/cosmos-sdk/pull/12384) Ensure `GoalBonded` must be positive when performing `x/mint` parameter validation.
 * (x/auth) [#12261](https://github.com/cosmos/cosmos-sdk/pull/12261) Deprecate pagination in GetTxsEventRequest/Response in favor of page and limit to align with tendermint `SignClient.TxSearch`
 * (vesting) [#12190](https://github.com/cosmos/cosmos-sdk/pull/12190) Replace https://github.com/cosmos/cosmos-sdk/pull/12190 to use `NewBaseAccountWithAddress` in all vesting account message handlers.
 * (cli) [#12127](https://github.com/cosmos/cosmos-sdk/pull/12127) Fix the CLI not always taking into account `--fee-payer` and `--fee-granter` flags.
diff --git a/x/mint/types/params.go b/x/mint/types/params.go
index 56c9b8aa783..69a909af05b 100644
--- a/x/mint/types/params.go
+++ b/x/mint/types/params.go
@@ -169,8 +169,8 @@ 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)