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Agency looking at potential impacts on vending equipment, including coin-op washers, dryers
WASHINGTON — The U.S. Mint has posted a Notice With Request For Comment, following a March 13 meeting with coin industry stakeholders regarding the effects of changing the metal composition of circulating U.S. coinage.
The Coin Modernization, Oversight and Continuity Act of 2010 provides to the Secretary of Treasury research and development authority for alternative metallic coinage materials, according to the Federal Register.
In conducting research and soliciting input regarding the matter, the Secretary of Treasury is considering various factors, including the potential impact of any revisions and its effect on vending machines and commercial coin processing equipment, including coin-operated washers and dryers, “making certain … that any new coins work without interruption in existing coin acceptance equipment without modification,” according to the Federal Register.
Previously, the U.S. Mint requested public comment on the metallic content of all circulating coins, and is now seeking written comments from coin industry stakeholders on the effects of changing qualities such as weight, color and electromagnetic signature of circulating coinage.
“Comments on other possible impacts are also welcome,” according to the U.S. Mint, “along with comments on possible environmental impacts and the length of time necessary for a transition and/or implementation period if coinage material were to be changed.”
The U.S. Mint is accepting stakeholders comments through June 10.
Electronic comments may be submitted to Coin.StakeholdersResponse@usmint.treas.gov.
Written comments may be submitted to Coin Stakeholders Response, Office of Coin Studies, United States Mint, 801 9th Street NW, Washington, DC 20220.
Further information, and details regarding the notice, is available at the Federal Register’s website.