Mint biennial report to Congress remains stalled
- Published: Mar 17, 2017, 5 AM
This article comes from our April 2017 monthly issue of Coin World. Want to get all of our content, including special magazine exclusives? Subscribe today!
What may be the U.S. Mint’s final research and development report into composition alternatives for circulating U.S. coins remains snagged in transitional limbo between two presidential administrations.
The third biennial report to Congress was due for submission for its review in mid-December, but the proposal remains anchored at the Treasury Department without any indication when recommendations will make it to the nation’s legislators for review.
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The report — which could include recommendations for alloy alternatives for the cent, 5-cent, dime and quarter dollar — is one of many “in progress” or planned projects the Treasury Department’s Office of Inspector General will oversee under its Annual Plan: Fiscal Year 2017.
The cost to produce and distribute Lincoln cents and Jefferson 5-cent coins remains over face value.
Other projects recognized under the Treasury OIG’s Fiscal 2017 plan include:
??Mint controls over the sales of limited-edition, investment-grade products.
??Mint fulfillment of orders for precious metals, investment-grade bullion and commemorative products at a non-Mint location.
??Determination of whether the Mint’s order management system is working and whether collectors have equal opportunity to buy limited-mintage coins.
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