The U.S. Mint is considering changes to the type of metal it uses in its coins and is seeking input from businesses that might be affected.
Already, the agency has hired a nonprofit, Concurrent Technologies Corporation, to carry out a study to determine what types of modifications would hurt stakeholders and then to determine the cost and time it would take to convert equipment. Those costs apparently haven’t been calculated yet. But they do know what changes might harm stakeholders. Which ones? Pretty much all of them.
Here’s the list, according to a document released by the Mint:
- Coin material and construction
- Coin dimensions (diameter and thickness), shape and rim height
- Edge profile (smooth vs. reeds)
- Inductive coin thickness (i.e., average thickness of coin material as measured by sensors that validate coins)
- Design embossing or relief height
- Density (manifested as a difference in coin weight when incumbent coin dimensions are maintained)
- Electrical/magnetic properties, which are exploited by sensors to validate and differentiate between coins via automated methods
Now the Mint is seeking public input. “One of the factors the Treasury must consider by public law is the potential impact any revision could have on industry stakeholders,” the International Carwash Association said in a statement released Wednesday. “We encourage you to get involved in one of the three ways available for engaging in dialogue with the Treasury on this topic.”
These are the three ways, according to the Mint:
1. Industry stakeholders are invited to participate in a stakeholders meeting at U.S. Mint
headquarters, March 13, 2014. More information on this meeting can be found at
2. The United States Mint will publish a Federal Register Notice inviting comment about
circulating coins and the impacts of alternative metal compositions to industry stakeholders.
The Federal Register Notice is targeted to publish in late March/early April with an
appropriate time period for submitting comments to the bureau. You may contact Leslie
Schwager at Leslie.Schwager@usmint.treas.gov for more information.
3. Per request, the Office of Coin Studies invites interested parties to participate in a conference
call to discuss its work on alternative metals for use in circulating coins. Please contact
Leslie Schwager at 202-354-7291 if you would like to schedule a call.