Stakeholders meeting to discuss new U.S. coins
- Published: Nov 1, 2018, 4 AM
To reduce the commercial demand for newly minted United States coins, the U.S. Mint is scheduling an invitation-only stakeholder roundtable to exchange facts and information on circulating coinage.
Mint spokesman Michael White said Oct. 22 that a list of participants has not yet been determined for the day-long Dec. 5 meeting to be held at U.S. Mint headquarters at 801 Ninth St. NW in Washington, D.C.
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According to the U.S. Mint’s notice published Oct. 22 on the Federal Register, “The Mint seeks information and advice on an individual basis about how coin can better circulate to reduce the commercial demand for newly minted coinage.”
According to the U.S. Mint’s announcement on the Federal Register, the bureau “intends to issue invitations to up to 35 participants with the objective of creating a diverse cross-section of stakeholder interests including, but not limited to, those associated with armored car carriers, coin processors, national and regional coin aggregators, financial institutions, and large retailers.”
Interested parties have until Nov. 9 to submit their requests seeking an invitation.
The Federal Reserve remains the U.S. Mint’s primary customer for circulating U.S. coins distributed in the United States and U.S. territories.
The Federal Reserve orders new coinage by denomination based on commerce needs, using a forecast model that is revised periodically.
Currently, the Denver Mint and Philadelphia Mint strike only Lincoln cents, Jefferson 5-cent coins, Roosevelt dimes and America the Beautiful quarter dollars for general circulation.
The production facilities produce Kennedy half dollars and Native American dollars (and will produce the upcoming American Innovation dollars) only as numismatic products, for sale in bags and rolls offered at premiums above face value, and not for circulation release.
The San Francisco Mint also strikes America the Beautiful quarter dollars in circulation quality, but also only for numismatic sales and not for distribution into commerce.
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