Notice With Request for Comment, 19971-19972 [2014-08022]

Agencies

• United States Mint
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 79, Number 69 (Thursday, April 10, 2014)]
[Notices]
[Pages 19971-19972]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-08022]


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DEPARTMENT OF THE TREASURY

United States Mint


Notice With Request for Comment

AGENCY: United States Mint, Department of the Treasury.

ACTION: Notice with request for comment.

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SUMMARY: The United States Mint hosted a meeting with coin industry 
stakeholders on March 13, 2014, at which bureau officials solicited 
individual input and answered questions from participants on the 
effects of changing the metal composition of circulating United States 
coinage (See Federal Register, February 4, 2014). This notice and 
request for comment is to supplement the information that the United 
States Mint has received to date from its stakeholders on factors 
identified as a result of the bureau's research and development efforts 
on alternative metals for circulating United States coinage.
    Specifically, we are seeking input on these factors that the United 
States Mint identified in its Biennial Report to Congress on the 
Current Status of Coin Production Costs and Analysis of Alternative 
Content submitted to Congress in December 2012, which is available at 
the following Web site: https://www.usmint.gov/about_the_mint/PDFs/United_States_Mint_Report_2012_Biennial_Report_to_the_Congress_on_the_Current_Status_of_Coin_Production_Costs_and_Analysis_of_Alternative_Content_December_2012.pdf, These factors 
include changes in weight, color, electromagnetic signature, 
environmental impact, and transition/implementation period.

DATES: Submit either electronic or written comments by 60 days after 
the notice is published.

ADDRESSES: Submit electronic comments on the collection of information 
to Coin.StakeholdersResponse@usmint.treas.gov. Submit all written 
comments to Coin Stakeholders Response, Office of Coin Studies, United 
States Mint, 801 9th Street NW., Washington, DC 20220.

SUPPLEMENTARY INFORMATION: The Coin Modernization, Oversight, and 
Continuity Act of 2010 (Pub. L. 111-302) provides to the Secretary of 
the Treasury research and development authority for alternative 
metallic coinage materials. Specifically, the Secretary of the Treasury 
is authorized to--(1) conduct any appropriate testing of metallic 
coinage materials within or outside of the Department of the Treasury, 
and (2) solicit input from or otherwise work in conjunction with 
federal and non-federal entities, including independent research 
facilities or current or potential suppliers of the metallic material 
used in volume production of circuiting coins. In accordance with 
Public Law 111-302, section 2(b), in conducting research or soliciting 
input, the Secretary of the Treasury shall consider the following:

    1. 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;
    2. Factors relevant to the ease of use and ability to co-
circulate of 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; and
    3. Such other factors that the Secretary of the Treasury, in 
consultation with merchants who would be affected by any change in 
the composition of circulating coins, 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, considers to be appropriate and in the public 
interest.

    The Secretary of the Treasury has delegated to the United States 
Mint the authority to conduct research and development for alternative 
metallic coinage materials, consider the factors specified in Public 
Law 111-302, section 2(b), and prepare a biennial report to the 
Congress on the current status of coin production costs and analysis of 
alternative metallic coinage materials. Accordingly, the United States 
Mint conducted research and development, and the bureau described its 
initial efforts in its first biennial report submitted to the House 
Financial Services Committee and the Senate Committee on Banking, 
Housing, and Urban Affairs in December 2012.
    Previously, the United States Mint requested public comment on the 
metallic content of all circulating coins, based on the factors 
specified in Public Law 111-302, in the Federal Register, March 4, 
2011.
    The United States Mint is now seeking written comments from coin 
industry stakeholders on the effects of changing qualities such as 
weight, color and electromagnetic signature of our circulating coinage. 
Comments on other possible impacts are also welcome, 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.

Themes of Stakeholder Input

    Upon reviewing and considering the feedback that the United States 
Mint received at its March 13, 2014, coin industry stakeholder meeting, 
the bureau has categorized the feedback among one or more themes listed 
below. The enumeration of these themes is merely intended to evoke 
additional consideration and feedback. Coin industry stakeholders that 
respond to this request for comment do not need to limit their input to 
these themes.
    1. A change to the diameter or thickness of U.S. coins would have a 
significant negative impact.
    2. The quarter-dollar coin is the workhorse of circulating coins. 
Across stakeholders, any change to the quarter-dollar coin would bring 
about the most costly conversion to a new alternative metal quarter-
dollar coin.
    3. Aluminum alloy coins do not perform well at high speeds and high 
pressures of coin sorting and handling equipment.
    4. A generous amount of communication and education is both needed 
and expected before implementing the use of alternative materials for 
the nation's circulating coins.
    5. If new coin handling equipment or software is needed, 
manufacturers of coin handling equipment need six to 12 months with 
production sample coins before they can begin shipping the new updated 
equipment to end users.
    6. The transition period for end users to implement an alternative 
material

[[Page 19972]]

coin should be at least 18 months from the date the alternative 
material coin is announced and before it is put into circulation.
    7. The total time period needed for a smooth transition is 18 to 30 
months.

United States Mint Assessment to Date

    The United States Mint has removed from consideration the change 
listed below. However, coin industry stakeholders that respond to this 
request for comment may provide input in favor of this change.
     Aluminum alloy metals are not being considered.
    Industry stakeholders are encouraged to review the Alternative 
Metals Study, August 31, 2012, submitted to the United States Mint by 
Concurrent Technologies Corporation. Specifically, Chapter 4.0 
Outreach, Validation of Alternative material Candidate Nonsense Pieces 
and Security, which includes previous industry feedback. The report is 
available at the following Web site: https://www.usmint.gov/about_the_mint/PDFs/ctcr-alternative-metals-study-2012-08-31.pdf

Specific Factors

    Stakeholders are specifically invited to comment on the following 
factors:
     Costs to convert to circulating coins composed of 
alternative metals given the following possible changes to coins:

[cir] Weight
[cir] Electromagnetic signature
[cir] Visual changes, such as color and relief
     Transition time needed to introduce a circulating coin 
composed of an alternative metal.
     Comments on how best to inform and educate both affected 
industries and the public on changes to circulating coins.
     Environmental impact from the use of circulating coins 
composed of alternative metals.
     Other issues of importance not identified above.

FOR FURTHER INFORMATION CONTACT: Office of Coin Studies at 
OfficeofCoinStudies@usmint.treas.gov, or by calling 202-354-6600.

    Authority:  Pub. L. 111-302, section 2(a)(2) & (b)(3); 31 U.S.C. 
5112(p)(3)(A).

    Dated: April 4, 2014.
Beverly Ortega Babers,
Chief Administrative Officer, United States Mint.
[FR Doc. 2014-08022 Filed 4-9-14; 8:45 am]
BILLING CODE P