Alternative coin metals research meeting March 18
- Published: Feb 5, 2015, 3 AM
Stakeholders include vending machine and coin-operated machine operators, coin handling equipment manufacturers and similar entities that would be affected by composition changes.
According to the Mint's meeting announcement: "The purpose of this meeting is to invite individual members of stakeholder organizations to share their perspectives on how the United States Mint would validate the acceptance of alternative metal compositions presented in the most recent report to Congress prior to circulation. The alternative metal compositions include those with a similar electromagnetic signature (EMS) and weight characteristics that fall within the acceptable tolerance range of the United States Mint's current circulating coins as well as alternative metals with different EMS and weight characteristics than current circulating coins. This input will support the Secretary of the Treasury in understanding the balance of interests and impacts to the public, private industry stakeholders, and the Government. Conducting a second stakeholder meeting is one component of the United States Mint's continued outreach program to ensure to the greatest extent practicable, that any new coins work without interruption in existing coin acceptance equipment without modification and additional costs to industry stakeholders."
The Mint submitted its second biennial report to Congress in December on alternative metals research and development.
The report includes a production costs analysis, coin industry stakeholder feedback, the alternative metals study phase II technical report, and estimated costs of current and alternative metals.
The research is being conducted under provisions of the Coin Modernization, Oversight, And Continuity Act of 2010, Public Law 111-302.
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