Mint seeks public input on low denomination United States coins
- Published: Jul 14, 2014, 7 AM
Public input is being gathered through Aug. 8 by the United States Mint from the public on the usage of low-denomination United States coins.
Notice of the input gathering was posted July 8 on the Federal Register.
The Coin Modernization, Oversight, and Continuity Act of 2010, Public Law 111-302, section 2(b)(3), authorizes the Secretary of the Treasury to consider such factors he deems appropriate and in the public interest when preparing a report and recommendations to Congress with respect to the nation's circulating coins.
According to the Federal Register notice: "Understanding the public's use and perception of United States circulating coins and coin usage is necessary for the United States Mint to carry out its mission to mint and issue circulating coins in amounts that the Secretary of the Treasury determines are necessary to meet the needs of the United States and to prepare recommendations to Congress as authorized by Public Law 111-302."
The information collected will cover the following topics, with special emphasis on low-denomination coins:
- Use of coins as payment.
- General payment preferences.
- General awareness concerning low-denomination coins.
- Attitudes regarding potential changes in coinage.
- The use of rounding retail transactions.
- Demographic characteristics.
"The data will be used to understand the public's use and perception of specific U.S. circulating coinage for the purpose of analyzing options and proposing recommendations for possible changes to the nation's circulating coins, the Federal Register notice reads.
To obtain this information, the United States Mint will conduct a nationally representative random-digit-dial survey of 1,000 U.S. adults. The proposed survey will include both landline (700 interviews) and cellular (300 interviews) telephones. Interviewing will be conducted in both English and Spanish.
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