Possible metallic composition changes
- Published: Feb 11, 2014, 7 PM
U.S. Mint officials posted a notice Feb. 4 in the Federal Register inviting entities with a stake in possible changes in metallic compositions of current circulating coinage to a March 13 stakeholders meeting at Mint headquarters in Washington, D.C.
The meeting is by invitation only. The session is closed to the media and the general public.
Hosted by Deputy Mint Director Richard A. Peterson, the meeting is aimed to collect input on the impact of alternative metal compositions from merchants, vending machine and other coin acceptor manufacturers, vending machine owners and operators, transit officials, municipal parking officials, depository institutions, coin and currency handlers, armored-car operators, car wash operators, and American-owned manufacturers of commercial coin processing equipment.
Under provisions of the Coin Modernization, Oversight, and Continuity Act of 2010 (Pub. L. 111-302), the U.S. Mint is required to conduct research and development on alternative metals for circulating coinage and report those findings and recommendations to Congress biennially in mid-December.
The first such report was submitted to Congress in December 2012, with the second scheduled for December 2014.
In their research and development efforts, U.S. Mint officials are addressing:
? “Factors relevant to the potential impact of any revisions to the composition of the material used in coin production on the current coinage material suppliers.”
? “Factors relevant to the ease of use and ability to co-circulate new coinage materials, including the effect on vending machines and commercial coin processing equipment and making certain, to the greatest extent practicable, that any new coins work without interruption in existing coin acceptance equipment without modification.”
Stakeholders wishing to be invited to the meeting can contact Leslie Schwager at the Office of Coin Studies by email directed to OfficeofCoinStudies@usmint.treas.gov or by calling 202-354-6600, no later than March 10, 2014, to request an invitation and additional meeting information.
Seating will be available on a first-come, first-served basis.
Input will be gathered orally at the stakeholder meeting and in writing via a subsequent Federal Register notice requesting comment. The oral comments will be documented by a transcription service provider, according to U.S. Mint officials.
For a copy of the United States Mint’s 2012 Biennial Report to the Congress, from December 2012, and the Alternative Metals Study completed for August 2012, visit www.usmint.gov/about_the_mint/?action=biennialreport.
The study discusses alternative metals that could potentially change a denomination’s weight, color and electromagnetic signature. The study also touches on implementation and transition periods. ¦
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