Redemption Rates and Procedures, 41468-41470 [2014-16035]
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41468
Federal Register / Vol. 79, No. 136 / Wednesday, July 16, 2014 / Proposed Rules
(c) Affected AD
This AD supersedes AD 2013–18–01,
Amendment 39–17574 (78 FR 56599,
September 13, 2013).
(d) Comments Due Date
We must receive comments by September
15, 2014.
tkelley on DSK3SPTVN1PROD with PROPOSALS
(e) Compliance
You are responsible for performing each
action required by this AD within the
specified compliance time unless it has
already been accomplished prior to that time.
(f) Required Actions
Within 50 hours time-in-service:
(1) For Model EC155B and EC155B1
helicopters:
(i) Lock the collective pitch lever, and
using a spring scale, measure the load (G)
required to unlock the pilot’s collective pitch
lever as depicted in Figure 1, Detail B of
Eurocopter Alert Service Bulletin (ASB) No.
67A007, Revision 1, dated February 25, 2009
(ASB 67A007).
(ii) If the collective pitch lever unlocks at
a load less than 11 deca Newtons (daN) (24.7
lbs) or greater than 14 daN (31.5 lbs), before
further flight, adjust the collective pitch lever
restraining tab (F) using the oblong holes.
(iii) Set the collective pitch lever to the
‘‘low pitch’’ position and hold it in this
position, without forcing it downwards.
(iv) Measure the clearance (J1) between the
locking pin of the collective pitch lever (C)
and the
L-section of the restraining tab (F) as
depicted in Figure 1, Detail A of ASB
67A007.
(v) If the clearance between the locking pin
of the collective pitch lever and the L-section
of the restraining tab is less than 3
millimeters (mm), before further flight,
remove the restraining tab, clamp the
restraining tab (F) in a vice with soft jaws,
and gradually apply a load (H) to ensure a
clearance of 3 mm or more, as depicted in
Figure 1, Detail K of ASB 67A007.
(2) For Model SA–365N, SA–365N1, AS–
365N2, and AS 365 N3 helicopters:
(i) Completely loosen the friction, lock the
collective pitch lever, and using a spring
scale, measure the load (G) required to
unlock the pilot’s collective pitch lever as
depicted in Figure 1, Detail B of Eurocopter
ASB No. 67.00.10, Revision 1, dated February
25, 2009 (ASB 67.00.10).
(ii) If the collective pitch lever unlocks at
a load less than 5 daN (11.3 lbs) or greater
than 14 daN (31.5 lbs), before further flight,
adjust the collective pitch lever restraining
tab (F) using the oblong holes and adjust the
collective link rods as described in the
Accomplishment Instructions, paragraph
2.B.4., of ASB 67.00.10.
(iii) Set the collective pitch lever to the
‘‘low pitch’’ position and hold it in this
position, without forcing it downwards.
(iv) Tighten the friction lock and measure
the clearance (J1) between the locking pin of
the collective pitch lever (C) and the
L-section of the restraining tab (F) as
depicted in Figure 1, Detail A of ASB
67.00.10.
(v) If the clearance between the locking pin
of the collective pitch lever and the L-section
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of the restraining tab is less than 3 mm,
before further flight, remove the restraining
tab, clamp the restraining tab (F) in a vice
with soft jaws, and gradually apply a load (H)
to ensure a clearance of 3 mm or more, as
depicted in Figure 1, Detail K, of ASB
67.00.10.
(3) For Model SA–366G1 helicopters:
(i) Completely loosen the friction, lock the
collective pitch lever, and using a spring
scale, measure the load (G) required to
unlock the pilot’s collective pitch lever as
depicted in Figure 1, Detail B of Eurocopter
ASB No. 67.05, Revision 1, dated February
25, 2009 (ASB 67.05).
(ii) If the collective pitch lever unlocks at
a load less than 5 daN (11.3 lbs) or greater
than 14 daN (31.5 lbs), before further flight,
adjust the collective pitch lever restraining
tab (F) using the oblong holes and adjust the
collective link rods as described in the
Accomplishment Instructions, paragraph
2.B.4., of ASB 67.05.
(iii) Set the collective pitch lever to the
‘‘low pitch’’ position and hold it in this
position, without forcing it downwards.
(iv) Tighten the friction lock and measure
the clearance (J1) between the locking pin of
the collective pitch lever (C) and the Lsection of the restraining tab (F) as depicted
in Figure 1, Detail A, of ASB 67.05.
(v) If the clearance between the locking pin
of the collective pitch lever and the L-section
of the restraining tab is less than 3 mm,
before further flight, remove the restraining
tab, clamp the restraining tab (F) in a vice
with soft jaws, and gradually apply a load (H)
to ensure a clearance of 3 mm or more, as
depicted in Figure 1, Detail K, of ASB 67.05.
(g) Alternative Methods of Compliance
(AMOCs)
(1) The Manager, Safety Management
Group, FAA, may approve AMOCs for this
AD. Send your proposal to: Matt Wilbanks,
Aviation Safety Engineer, Rotorcraft
Certification Office, Rotorcraft Directorate,
FAA, 2601 Meacham Blvd., Fort Worth,
Texas 76137; telephone (817) 222–5110;
email matt.wilbanks@faa.gov.
(2) For operations conducted under a 14
CFR part 119 operating certificate or under
14 CFR part 91, subpart K, we suggest that
you notify your principal inspector, or
lacking a principal inspector, the manager of
the local flight standards district office or
certificate holding district office, before
operating any aircraft complying with this
AD through an AMOC.
(h) Additional Information
(1) Eurocopter Alert Service Bulletin (ASB)
No. 67.00.12, Revision 0, dated February 25,
2009; ASB No. 67.07, Revision 0, dated
February 25, 2009; and ASB No. 67–009,
Revision 1, dated July 19, 2010, which are
not incorporated by reference, contain
additional information about this AD. For
service information identified in this AD,
contact Airbus Helicopters, Inc., 2701 N.
Forum Drive, Grand Prairie, TX 75052;
telephone (972) 641–0000 or (800) 232–0323;
fax (972) 641–3775; or at https://
www.airbushelicopters.com/techpub. You
may review a copy of the service information
at the FAA, Office of the Regional Counsel,
PO 00000
Frm 00013
Fmt 4702
Sfmt 4702
Southwest Region, 2601 Meacham Blvd.,
Room 663, Fort Worth, Texas 76137.
(2) The subject of this AD is addressed in
European Aviation Safety Agency (EASA) AD
No. 2011–0154, dated August 22, 2011. You
may view the EASA AD in the AD Docket on
the internet at https://www.regulations.gov.
(i) Subject
Joint Aircraft Service Component (JASC)
Code: 6710: Main Rotor Control.
Issued in Fort Worth, Texas, on July 8,
2014.
Kim Smith,
Directorate Manager, Rotorcraft Directorate,
Aircraft Certification Service.
[FR Doc. 2014–16682 Filed 7–15–14; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF THE TREASURY
United States Mint
31 CFR Part 100
Redemption Rates and Procedures
United States Mint, Treasury.
Notice of proposed rulemaking
with request for comment.
AGENCY:
ACTION:
The United States Mint
proposes to amend Treasury regulations
relating to the exchange of uncurrent,
bent, partial, fused, and mixed coins.
The proposed amendments aim to
update redemption rates and
procedures, as well as to resolve an
apparent contradiction in the current
regulation.
SUMMARY:
Comments on the proposed rule
must be received by September 15,
2014.
DATES:
The United States Mint
invites comments on all aspects of this
proposed rule. In accordance with the
eRulemaking Initiative, the Department
of the Treasury publishes rulemaking
information on www.regulations.gov.
Regulations.gov offers the public the
ability to comment on, search, and view
publicly available rulemaking materials,
including comments received on rules.
Comments on this rule must be
submitted using only the following
methods:
• Federal eRulemaking Portal:
www.regulations.gov. Follow the
instructions on the Web site for
submitting comments.
• Mail: United States Mint; Office of
Chief Counsel; 801 9th Street NW.;
Washington, DC 20220.
• Hand Delivery/Courier: Same as
mail address.
FOR FURTHER INFORMATION CONTACT:
Daniel P. Shaver, Chief Counsel, Office
of Chief Counsel, United States Mint, at
ADDRESSES:
E:\FR\FM\16JYP1.SGM
16JYP1
Federal Register / Vol. 79, No. 136 / Wednesday, July 16, 2014 / Proposed Rules
(202) 354–7600 or dshaver@
usmint.treas.gov.
SUPPLEMENTARY INFORMATION:
tkelley on DSK3SPTVN1PROD with PROPOSALS
I. Background
The Treasury Regulations appearing
at 31 CFR part 100, subpart C, are
promulgated under 31 U.S.C. 5120, and
provide for the exchange of uncurrent,
bent, partial, fused, and mixed coins.
The last amendment to 31 CFR part 100,
was on August 23, 1999 (64 FR 39919,
July 23, 1999). Since then, the United
States Mint has identified portions of
the regulation in need of revision to
update redemption rates and
procedures, and to resolve an apparent
contradiction in the regulation. In
accordance with Executive Order 13563,
appearing at 76 FR 3821 (January 21,
2011), the United States Mint proposes
to amend the regulation to improve its
consistency and accuracy.
The first category of proposed
significant amendments relates to the
redemption rates for uncurrent coins (31
CFR 100.10) and bent and partial coins
(31 CFR 100.11) that have been
withdrawn from circulation. For
uncurrent coins, the proposed rule
clarifies the procedure for redemption
by instructing the public to deposit the
uncurrent coins with a financial
institution that will accept them, or
with a depository institution that has a
direct relationship with a Federal
Reserve Bank. The proposed
amendment also makes clear that a
Federal Reserve Bank will redeem
uncurrent coins based on the policies
described in the Federal Reserve’s
Operating Circular 2.
For redemption of bent and partial
coins, the proposed rule updates the
redemption rates of certain coins to
reflect current values and compositions
of coins being redeemed. For example,
in the current regulation, the rate for
one-cent coins is $1.4585 per pound;
this rate was derived from the weight of
brass one-cent coins (3.11 grams or
0.1097 ounces each), which the United
States Mint has not minted and issued
since 1982. The weight of the current
copper-plated zinc one-cent coins (2.50
grams or 0.0882 ounces each), however,
makes their redemption rate $1.8100 per
pound. The proposed rule revises the
redemption rate for unmixed quantities
of these copper-plated zinc one-cent
coins.
The second category of proposed
amendments resolves an apparent
contradiction in the existing regulation.
As currently drafted, 31 CFR 100.12(b)
states, ‘‘The United States Mint will not
accept fused or mixed coins for
redemption.’’ 31 CFR 100.12(d),
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17:37 Jul 15, 2014
Jkt 232001
however, states, ‘‘Fused and mixed
coins will be redeemed only at the
United States Mint, P.O. Box 400,
Philadelphia, PA 19105.’’ The issue of
whether the United States Mint should
accept fused and mixed coins for
redemption was the subject of the 1999
amendment to 31 CFR part 100. At that
time, the United States Mint notified the
public, at 64 FR 4063 (January 27, 1999),
of its intention to discontinue
acceptance of fused and mixed coins for
redemption because the bureau
ordinarily cannot reliably ascertain the
value of, nor use mechanical methods of
destruction or reclamation on, deliveries
containing coins of mixed alloy
categories. To resolve this apparent
contradiction and clarify the intended
meaning of the 1999 amendment, which
became effective on August 23, 1999,
the United States Mint proposes to
amend 31 CFR 100.12 to eliminate any
suggestion that the bureau will accept
fused or mixed coins for redemption.
II. Procedural Analysis
Regulatory Planning and Review
The proposed rule does not meet the
criteria for a ‘‘significant regulatory
action’’ as defined in Executive Order
12866.
Regulatory Flexibility Act Analysis
It is hereby certified that the proposed
rule will not have a significant
economic impact on a substantial
number of small entities. Accordingly, a
regulatory flexibility analysis is not
required. Although the United States
Mint does not maintain records that
consistently indicate the business or
personal nature of the transactions
conducted by individuals or entities
tendering coins for redemption, the
majority of coins presented for
redemption were submitted by
individuals transacting with the United
States Mint in their own names. Even if
each such individual were a ‘‘small
entity’’ within the meaning of 5 U.S.C.
604(a), the United States Mint does not
believe that the quantity of coin
redemption transactions indicates that
the proposed amendment will have a
significant economic impact on a
substantial number of small entities.
III. Request for Comment
PO 00000
Frm 00014
Fmt 4702
Sfmt 4702
Treasury request comments on all
aspects of the proposed amendments.
IV. Words of Issuance
For the reasons set forth in the
preamble, the United States Mint
proposes to amend 31 CFR part 100
substantially as follows:
PART 100—EXCHANGE OF PAPER
CURRENCY AND COIN
1. The authority citation for part 100
continues to read as follows:
■
Authority: 31 U.S.C. 321.
Subpart C—Exchange of Coin
2. In § 100.10, revise paragraphs (b),
(c) and (d) to read as follows:
■
§ 100.10
Exchange of uncurrent coins.
*
*
*
*
*
(b) Redemption basis. Members of the
public wishing to redeem uncurrent
coins must deposit the uncurrent coins
with a bank or other financial
institution that will accept them, or
with a depository institution that has
established a direct customer
relationship with a Federal Reserve
Bank. A Federal Reserve Bank will
redeem uncurrent coins, based on the
policies described in the Federal
Reserve’s Operating Circular 2.
(c) Criteria for acceptance. Depository
institutions that redeem uncurrent coins
must sort the coins by denomination
into packages in accordance with the
Federal Reserve’s Operating Circular 2.
The Federal Reserve Banks reserve the
right to reject any shipment containing
objects that are not U.S. coins or any
contaminant that could render them
unsuitable for coinage metal.
(d) Redemption sites. The Federal
Reserve Banks and branches listed in
§ 100.17 are the only authorized
redemption sites at which a depository
institution that has established a direct
customer relationship with a Federal
Reserve Bank may redeem uncurrent
coins.
■ 3. In § 100.11, revise paragraphs (b)
and (c) and add paragraph (d) to read as
follows:
§ 100.11
coins.
Exchange of bent and partial
*
Before the proposed amendments to
the Treasury Regulations at 31 CFR part
100, subpart C, are adopted as final
regulations, the United States Mint will
consider any comments that are
submitted timely to the bureau as
prescribed in this preamble under the
ADDRESSES heading. The United States
Mint and the Department of the
41469
*
*
*
*
(b) Redemption basis—(1) Generally.
Persons wanting to redeem bent or
partial coins shall separate them by
denomination in lots of at least one
pound for each denomination. The
United States Mint will redeem bent
and partial coins on the basis of their
weight and denomination at the
following rates:
E:\FR\FM\16JYP1.SGM
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41470
Federal Register / Vol. 79, No. 136 / Wednesday, July 16, 2014 / Proposed Rules
(A) One-Cent Coins: $1.4585 per
pound.
(B) 5-Cent Coins: $4.5359 per pound.
(C) Dime, Quarter-Dollar, and HalfDollar Coins: $20.00 per pound.
(D) $1 Coins: $56.00 per pound.
(2) Exceptions. (A) The United States
Mint will redeem copper-plated zinc
one-cent coins (one-cent coins inscribed
with a year after 1982) at the face-value
equivalent of brass one-cent coins
(generally, one-cent coins inscribed
with a year before 1983) unless the
copper-plated zinc one-cent coins are
presented unmixed. The United States
Mint will redeem unmixed copperplated zinc one-cent coins at $1.8100
per pound.
(B) The United States Mint will
redeem unmixed $1 coins inscribed
with a year before 1979 at $20.00 per
pound.
(c) Criteria for acceptance. Persons
wanting to redeem bent and partial
coins must sort the coins by
denomination into packages of not less
than one pound each and ship the
packaged coins, at the person’s expense
and risk of loss, to the authorized
redemption site. The United States Mint
reserves the right to reject any shipment
containing objects that are not U.S.
coins or any contaminant that could
render them unsuitable for coinage
metal.
(d) Redemption site. The United
States Mint at Philadelphia, P.O. Box
400, Philadelphia, PA 19105, is the only
authorized redemption site for bent and
partial coins.
■ 4. In § 100.12, remove paragraphs (c)
and (d).
Dated: July 2, 2014.
Beverly Ortega Babers,
Chief Administrative Officer, United States
Mint.
[FR Doc. 2014–16035 Filed 7–15–14; 8:45 am]
BILLING CODE P
LIBRARY OF CONGRESS
Copyright Office
37 CFR Part 201
[Docket No. 2014–04]
Changes to Recordation Practices
U.S. Copyright Office, Library
of Congress.
ACTION: Notice of proposed rulemaking.
tkelley on DSK3SPTVN1PROD with PROPOSALS
AGENCY:
The U.S. Copyright Office is
proposing to amend its regulations for
the recordation of copyright transfers
and other documents. The proposed
rule is intended to reduce the amount of
SUMMARY:
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17:37 Jul 15, 2014
Jkt 232001
time the Office requires to process
certain types of documents submitted
for recordation and help to alleviate
remitter concerns regarding the receipt
of documents for processing. To these
ends, the Office is proposing to amend
the regulations to encourage remitters to
include a cover sheet with the
documents they submit for processing;
allow remitters to submit long title lists
in electronic format; and provide
remitters with the option to request
return receipts that acknowledge that
the Office has received a submission.
The Office invites public comment on
the proposed rule.
DATES: Written comments are due on or
before August 15, 2014, at 11:59 p.m.
ADDRESSES: All comments shall be
submitted electronically. A comment
submission page is posted on the
Copyright Office Web site at https://
www.copyright.gov/rulemaking/
recordation-practices. The Web site
interface requires commenting parties to
complete a form specifying their name
and organization, as applicable, and to
upload comments as an attachment via
a browser button. To meet accessibility
standards, commenting parties must
upload comments in a single file not to
exceed six megabytes (MB) in one of the
following formats: a Portable Document
File (PDF) format that contains
searchable, accessible text (not an
image); Microsoft Word; WordPerfect;
Rich Text Format (RTF); or ASCII text
file format (not a scanned document).
The maximum file size is 6 megabytes.
The form and face of the comments
must include both the name of the
submitter and organization. The Office
will post the comments publicly on the
Office’s Web site in the form that they
are received, along with associated
names and organizations. If electronic
submission of comments is not feasible,
please contact the Office at 202–707–
8350 for special instructions.
FOR FURTHER INFORMATION CONTACT:
Jacqueline C. Charlesworth, General
Counsel and Associate Register of
Copyrights, by email at jcharlesworth@
loc.gov or by telephone at 202–707–
8350; or Sy Damle, Special Advisor to
the General Counsel, by email at sdam@
loc.gov, or by telephone at 202–707–
8350.
SUPPLEMENTARY INFORMATION:
I. Background
Since 1870, the Copyright Office has
recorded documents pertaining to works
under copyright, such as assignments,
licenses, and grants of security interests.
The process of recordation entails (1)
receiving copyright-related documents
from remitters for recordation; (2)
PO 00000
Frm 00015
Fmt 4702
Sfmt 4702
reviewing the documents to ensure they
are eligible for recordation; (3) indexing
information contained in the documents
for the public record; (4) making copies
of the documents so they are available
for public inspection; and (5) returning
documents marked as recorded to
remitters. Congress has encouraged the
submission of documents for
recordation by providing certain legal
entitlements as a consequence of
recordation. For instance, recordation
provides constructive notice of the facts
stated in the recorded document when
certain conditions are met. See 17
U.S.C. 205(c). In addition, recordation is
a condition for the legal effectiveness of
notices of terminations of transfer. See
id. 203(a)(4)(A). Thus, the Office has an
important interest in ensuring that the
public record of copyright transactions
is as timely, complete, and as accurate
as possible.
II. Discussion
Over the past several years, the
Copyright Office has sought public
input on technological upgrades to the
recordation function. See 78 FR 17722
(Mar. 22, 2013); 79 FR 2696 (Jan. 15,
2014). In addition to seeking written
comments, the Office has held focused
discussions with copyright owners,
users of copyright records, technical
experts, public interest organizations,
lawyers, and professional and industry
associations regarding the same. See 79
FR 6636 (Feb. 4, 2014). Participants in
these processes have expressed a
number of concerns about the current
recordation system, including
frustration with the submission process,
the amount of time the Office requires
to record remitted documents, and the
searchability of the public record. These
problems are related in part to the fact
that recordation remains a paper-driven
process (in contrast to most registration
transactions, which occur
electronically).1
In response to these concerns, the
Office is currently developing a strategic
plan for the improvement of both
recordation services and the quality of
resulting information provided to the
public. See 79 FR 2696 (Jan. 15, 2014).2
1 For further information, see the comments
obtained during the Copyright Office’s two-year
Special Projects process, particularly the Special
Project on Technical Upgrades to Registration and
Recordation Functions. Comments pertaining to the
Special Project on Technological Upgrades to
Registration and Recordation Functions are
available on the Copyright Office Web site at
https://www.copyright.gov//_upgrades/.
2 For further information, see the comments
pertaining to the Copyright Office’s Strategic Plan
for Recordation of Documents. These comments are
available on the Copyright Office Web site at https://
www.copyright.gov/docs/recordation/.
E:\FR\FM\16JYP1.SGM
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]]>Agencies
[Federal Register Volume 79, Number 136 (Wednesday, July 16, 2014)]
[Proposed Rules]
[Pages 41468-41470]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-16035]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
United States Mint
31 CFR Part 100
Redemption Rates and Procedures
AGENCY: United States Mint, Treasury.
ACTION: Notice of proposed rulemaking with request for comment.
-----------------------------------------------------------------------
SUMMARY: The United States Mint proposes to amend Treasury regulations
relating to the exchange of uncurrent, bent, partial, fused, and mixed
coins. The proposed amendments aim to update redemption rates and
procedures, as well as to resolve an apparent contradiction in the
current regulation.
DATES: Comments on the proposed rule must be received by September 15,
2014.
ADDRESSES: The United States Mint invites comments on all aspects of
this proposed rule. In accordance with the eRulemaking Initiative, the
Department of the Treasury publishes rulemaking information on
www.regulations.gov. Regulations.gov offers the public the ability to
comment on, search, and view publicly available rulemaking materials,
including comments received on rules.
Comments on this rule must be submitted using only the following
methods:
Federal eRulemaking Portal: www.regulations.gov. Follow
the instructions on the Web site for submitting comments.
Mail: United States Mint; Office of Chief Counsel; 801 9th
Street NW.; Washington, DC 20220.
Hand Delivery/Courier: Same as mail address.
FOR FURTHER INFORMATION CONTACT: Daniel P. Shaver, Chief Counsel,
Office of Chief Counsel, United States Mint, at
[[Page 41469]]
(202) 354-7600 or dshaver@usmint.treas.gov.
SUPPLEMENTARY INFORMATION:
I. Background
The Treasury Regulations appearing at 31 CFR part 100, subpart C,
are promulgated under 31 U.S.C. 5120, and provide for the exchange of
uncurrent, bent, partial, fused, and mixed coins. The last amendment to
31 CFR part 100, was on August 23, 1999 (64 FR 39919, July 23, 1999).
Since then, the United States Mint has identified portions of the
regulation in need of revision to update redemption rates and
procedures, and to resolve an apparent contradiction in the regulation.
In accordance with Executive Order 13563, appearing at 76 FR 3821
(January 21, 2011), the United States Mint proposes to amend the
regulation to improve its consistency and accuracy.
The first category of proposed significant amendments relates to
the redemption rates for uncurrent coins (31 CFR 100.10) and bent and
partial coins (31 CFR 100.11) that have been withdrawn from
circulation. For uncurrent coins, the proposed rule clarifies the
procedure for redemption by instructing the public to deposit the
uncurrent coins with a financial institution that will accept them, or
with a depository institution that has a direct relationship with a
Federal Reserve Bank. The proposed amendment also makes clear that a
Federal Reserve Bank will redeem uncurrent coins based on the policies
described in the Federal Reserve's Operating Circular 2.
For redemption of bent and partial coins, the proposed rule updates
the redemption rates of certain coins to reflect current values and
compositions of coins being redeemed. For example, in the current
regulation, the rate for one-cent coins is $1.4585 per pound; this rate
was derived from the weight of brass one-cent coins (3.11 grams or
0.1097 ounces each), which the United States Mint has not minted and
issued since 1982. The weight of the current copper-plated zinc one-
cent coins (2.50 grams or 0.0882 ounces each), however, makes their
redemption rate $1.8100 per pound. The proposed rule revises the
redemption rate for unmixed quantities of these copper-plated zinc one-
cent coins.
The second category of proposed amendments resolves an apparent
contradiction in the existing regulation. As currently drafted, 31 CFR
100.12(b) states, ``The United States Mint will not accept fused or
mixed coins for redemption.'' 31 CFR 100.12(d), however, states,
``Fused and mixed coins will be redeemed only at the United States
Mint, P.O. Box 400, Philadelphia, PA 19105.'' The issue of whether the
United States Mint should accept fused and mixed coins for redemption
was the subject of the 1999 amendment to 31 CFR part 100. At that time,
the United States Mint notified the public, at 64 FR 4063 (January 27,
1999), of its intention to discontinue acceptance of fused and mixed
coins for redemption because the bureau ordinarily cannot reliably
ascertain the value of, nor use mechanical methods of destruction or
reclamation on, deliveries containing coins of mixed alloy categories.
To resolve this apparent contradiction and clarify the intended meaning
of the 1999 amendment, which became effective on August 23, 1999, the
United States Mint proposes to amend 31 CFR 100.12 to eliminate any
suggestion that the bureau will accept fused or mixed coins for
redemption.
II. Procedural Analysis
Regulatory Planning and Review
The proposed rule does not meet the criteria for a ``significant
regulatory action'' as defined in Executive Order 12866.
Regulatory Flexibility Act Analysis
It is hereby certified that the proposed rule will not have a
significant economic impact on a substantial number of small entities.
Accordingly, a regulatory flexibility analysis is not required.
Although the United States Mint does not maintain records that
consistently indicate the business or personal nature of the
transactions conducted by individuals or entities tendering coins for
redemption, the majority of coins presented for redemption were
submitted by individuals transacting with the United States Mint in
their own names. Even if each such individual were a ``small entity''
within the meaning of 5 U.S.C. 604(a), the United States Mint does not
believe that the quantity of coin redemption transactions indicates
that the proposed amendment will have a significant economic impact on
a substantial number of small entities.
III. Request for Comment
Before the proposed amendments to the Treasury Regulations at 31
CFR part 100, subpart C, are adopted as final regulations, the United
States Mint will consider any comments that are submitted timely to the
bureau as prescribed in this preamble under the ADDRESSES heading. The
United States Mint and the Department of the Treasury request comments
on all aspects of the proposed amendments.
IV. Words of Issuance
For the reasons set forth in the preamble, the United States Mint
proposes to amend 31 CFR part 100 substantially as follows:
PART 100--EXCHANGE OF PAPER CURRENCY AND COIN
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1. The authority citation for part 100 continues to read as follows:
Authority: 31 U.S.C. 321.
Subpart C--Exchange of Coin
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2. In Sec. 100.10, revise paragraphs (b), (c) and (d) to read as
follows:
Sec. 100.10 Exchange of uncurrent coins.
* * * * *
(b) Redemption basis. Members of the public wishing to redeem
uncurrent coins must deposit the uncurrent coins with a bank or other
financial institution that will accept them, or with a depository
institution that has established a direct customer relationship with a
Federal Reserve Bank. A Federal Reserve Bank will redeem uncurrent
coins, based on the policies described in the Federal Reserve's
Operating Circular 2.
(c) Criteria for acceptance. Depository institutions that redeem
uncurrent coins must sort the coins by denomination into packages in
accordance with the Federal Reserve's Operating Circular 2. The Federal
Reserve Banks reserve the right to reject any shipment containing
objects that are not U.S. coins or any contaminant that could render
them unsuitable for coinage metal.
(d) Redemption sites. The Federal Reserve Banks and branches listed
in Sec. 100.17 are the only authorized redemption sites at which a
depository institution that has established a direct customer
relationship with a Federal Reserve Bank may redeem uncurrent coins.
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3. In Sec. 100.11, revise paragraphs (b) and (c) and add paragraph (d)
to read as follows:
Sec. 100.11 Exchange of bent and partial coins.
* * * * *
(b) Redemption basis--(1) Generally. Persons wanting to redeem bent
or partial coins shall separate them by denomination in lots of at
least one pound for each denomination. The United States Mint will
redeem bent and partial coins on the basis of their weight and
denomination at the following rates:
[[Page 41470]]
(A) One-Cent Coins: $1.4585 per pound.
(B) 5-Cent Coins: $4.5359 per pound.
(C) Dime, Quarter-Dollar, and Half-Dollar Coins: $20.00 per pound.
(D) $1 Coins: $56.00 per pound.
(2) Exceptions. (A) The United States Mint will redeem copper-
plated zinc one-cent coins (one-cent coins inscribed with a year after
1982) at the face-value equivalent of brass one-cent coins (generally,
one-cent coins inscribed with a year before 1983) unless the copper-
plated zinc one-cent coins are presented unmixed. The United States
Mint will redeem unmixed copper-plated zinc one-cent coins at $1.8100
per pound.
(B) The United States Mint will redeem unmixed $1 coins inscribed
with a year before 1979 at $20.00 per pound.
(c) Criteria for acceptance. Persons wanting to redeem bent and
partial coins must sort the coins by denomination into packages of not
less than one pound each and ship the packaged coins, at the person's
expense and risk of loss, to the authorized redemption site. The United
States Mint reserves the right to reject any shipment containing
objects that are not U.S. coins or any contaminant that could render
them unsuitable for coinage metal.
(d) Redemption site. The United States Mint at Philadelphia, P.O.
Box 400, Philadelphia, PA 19105, is the only authorized redemption site
for bent and partial coins.
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4. In Sec. 100.12, remove paragraphs (c) and (d).
Dated: July 2, 2014.
Beverly Ortega Babers,
Chief Administrative Officer, United States Mint.
[FR Doc. 2014-16035 Filed 7-15-14; 8:45 am]
BILLING CODE P
