Authority To Conduct Research and Development on All Circulating Coins, 12225-12226 [2011-4880]
Download as PDF
<![CDATA[
Federal Register / Vol. 76, No. 43 / Friday, March 4, 2011 / Notices
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record.
Comments are invited on: (a) Whether
the collection of information is
necessary for the proper performance of
the functions of the agency, including
whether the information shall have
practical utility; (b) the accuracy of the
agency’s estimate of the burden of the
collection of information; (c) ways to
enhance the quality, utility, and clarity
of the information to be collected; (d)
ways to minimize the burden of the
collection of information on
respondents, including through the use
of automated collection techniques or
other forms of information technology;
and (e) estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: February 25, 2011.
Yvette Lawrence,
IRS Reports Clearance Officer.
[FR Doc. 2011–4847 Filed 3–3–11; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
United States Mint
Authority To Conduct Research and
Development on All Circulating Coins
United States Mint, Treasury.
Notice with request for
comment.
AGENCY:
ACTION:
Congress recently enacted the
Coin Modernization, Oversight, and
Continuity Act of 2010 (Pub. L. 111–
302) to provide 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 appropriate 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
nonfederal entities, including
independent research facilities or
current or potential suppliers of the
metallic material used in volume
production of circulating coins. In
jlentini on DSKJ8SOYB1PROD with NOTICES
SUMMARY:
VerDate Mar<15>2010
19:16 Mar 03, 2011
Jkt 223001
accordance with Public Law 111–302,
Section 2(b), in conducting research or
soliciting input, the Secretary of the
Treasury shall consider the following:
(A) 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;
(B) 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
(C) 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.
Additionally, the Secretary of the
Treasury is required to report biennially
to the House Financial Services
Committee and the Senate Committee
on Banking, Housing, and Urban Affairs
on the production costs for each
circulating coin, cost trends for such
production, and possible new metallic
materials or technologies for the
production of circulating coins.
The Secretary of the Treasury has
delegated to the Director of the United
States Mint the authority to conduct
research and development for
alternative metallic coinage materials, to
consider the factors specified in Public
Law 111–302, Section 2(b), and to
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
requests public comment on the factors
specified in Public Law 111–302,
Section 2(b).
DATES: Comments must be submitted on
or before April 4, 2011.
ADDRESSES: You may submit written
comments by any of the following
methods:
• E-mail:
coinmaterials@usmint.treas.gov
• Fax: (202) 756–6500
PO 00000
Frm 00213
Fmt 4703
Sfmt 4703
12225
• Mail: New Coin Materials
Comments, Mail Stop: Manufacturing 6
North, United States Mint, 801 Ninth
Street, NW., Washington, DC 20220.
• Hand Delivery/Courier: Same as
mail address.
FOR FURTHER INFORMATION CONTACT: Jean
Gentry, Deputy Chief Counsel, United
States Mint at (202) 354–7359 (not a
toll-free call).
SUPPLEMENTARY INFORMATION:
I. Background
Because of prevailing commodity
market prices of certain base metals, the
material costs for all circulating coin
denominations have risen dramatically
for the past several years. Most recently,
the value of the metal content of onecent and 5-cent coins has exceeded their
face value, compelling the United States
Mint to implement regulations to
protect them from arbitrage—
speculators buying large quantities of
these coins to profit from their metal
value. This situation prompted Congress
to pass legislation to give the Secretary
of the Treasury research and
development authority to conduct
studies for alternative metallic coinage
materials. The new law requires the
Secretary of the Treasury to consider
certain factors in the conduct of
research, development, and the
solicitation of input or work in
conjunction with Federal and
nonfederal entities, and in reporting to
the Congress with recommendations.
The Secretary of the Treasury has
delegated to the Director of the United
States Mint the authority to consider
these factors and to prepare a report to
the Congress recommending possible
new metallic materials or technologies
for the production of circulating coins.
Accordingly, the United States Mint
seeks information from the public on
the factors specified in Public Law 111–
302, Section 2(b), including factors that
submitters believe the Secretary of the
Treasury should consider to be
appropriate and in the public interest.
II. Request for Comment
The United States Mint requests
public comment from all interested
persons regarding the metallic
composition of all circulating coins
based on the factors specified in Public
Law 111–302, Section 2(b). These
factors may include, but are not limited
to, the effect of new coinage metallic
materials on the current suppliers of
coinage materials; the acceptability of
new coinage metallic materials,
including physical, chemical,
metallurgical and technical
characteristics; metallic material,
E:\FR\FM\04MRN1.SGM
04MRN1
12226
Federal Register / Vol. 76, No. 43 / Friday, March 4, 2011 / Notices
jlentini on DSKJ8SOYB1PROD with NOTICES
fabrication, minting, and distribution
costs; metallic material availability and
sources of raw metals; coinability;
durability; sorting, handling, packaging
and vending machines; appearance;
risks to the environment or public
safety; resistance to counterfeiting;
commercial and public acceptance; and
VerDate Mar<15>2010
19:16 Mar 03, 2011
Jkt 223001
any other factor considered to be
appropriate and in the public interest.
The United States Mint is not
soliciting suggestions or
recommendations on specific metallic
coinage materials, and any such
suggestions or recommendations will
not be considered at this time. The
United States Mint seeks public
PO 00000
Frm 00214
Fmt 4703
Sfmt 9990
comment only on the factors to be
considered in the research and
evaluation of potential new metallic
coinage materials.
Dated: February 28, 2011.
Richard A. Peterson,
Acting Director, United States Mint.
[FR Doc. 2011–4880 Filed 3–3–11; 8:45 am]
BILLING CODE 4810–37–P
E:\FR\FM\04MRN1.SGM
04MRN1
]]>Agencies
[Federal Register Volume 76, Number 43 (Friday, March 4, 2011)]
[Notices]
[Pages 12225-12226]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-4880]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
United States Mint
Authority To Conduct Research and Development on All Circulating
Coins
AGENCY: United States Mint, Treasury.
ACTION: Notice with request for comment.
-----------------------------------------------------------------------
SUMMARY: Congress recently enacted the Coin Modernization, Oversight,
and Continuity Act of 2010 (Pub. L. 111-302) to provide 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 appropriate
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 nonfederal entities, including independent research
facilities or current or potential suppliers of the metallic material
used in volume production of circulating 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:
(A) 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;
(B) 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
(C) 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.
Additionally, the Secretary of the Treasury is required to report
biennially to the House Financial Services Committee and the Senate
Committee on Banking, Housing, and Urban Affairs on the production
costs for each circulating coin, cost trends for such production, and
possible new metallic materials or technologies for the production of
circulating coins.
The Secretary of the Treasury has delegated to the Director of the
United States Mint the authority to conduct research and development
for alternative metallic coinage materials, to consider the factors
specified in Public Law 111-302, Section 2(b), and to 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 requests public comment on the
factors specified in Public Law 111-302, Section 2(b).
DATES: Comments must be submitted on or before April 4, 2011.
ADDRESSES: You may submit written comments by any of the following
methods:
E-mail: coinmaterials@usmint.treas.gov
Fax: (202) 756-6500
Mail: New Coin Materials Comments, Mail Stop:
Manufacturing 6 North, United States Mint, 801 Ninth Street, NW.,
Washington, DC 20220.
Hand Delivery/Courier: Same as mail address.
FOR FURTHER INFORMATION CONTACT: Jean Gentry, Deputy Chief Counsel,
United States Mint at (202) 354-7359 (not a toll-free call).
SUPPLEMENTARY INFORMATION:
I. Background
Because of prevailing commodity market prices of certain base
metals, the material costs for all circulating coin denominations have
risen dramatically for the past several years. Most recently, the value
of the metal content of one-cent and 5-cent coins has exceeded their
face value, compelling the United States Mint to implement regulations
to protect them from arbitrage--speculators buying large quantities of
these coins to profit from their metal value. This situation prompted
Congress to pass legislation to give the Secretary of the Treasury
research and development authority to conduct studies for alternative
metallic coinage materials. The new law requires the Secretary of the
Treasury to consider certain factors in the conduct of research,
development, and the solicitation of input or work in conjunction with
Federal and nonfederal entities, and in reporting to the Congress with
recommendations.
The Secretary of the Treasury has delegated to the Director of the
United States Mint the authority to consider these factors and to
prepare a report to the Congress recommending possible new metallic
materials or technologies for the production of circulating coins.
Accordingly, the United States Mint seeks information from the public
on the factors specified in Public Law 111-302, Section 2(b), including
factors that submitters believe the Secretary of the Treasury should
consider to be appropriate and in the public interest.
II. Request for Comment
The United States Mint requests public comment from all interested
persons regarding the metallic composition of all circulating coins
based on the factors specified in Public Law 111-302, Section 2(b).
These factors may include, but are not limited to, the effect of new
coinage metallic materials on the current suppliers of coinage
materials; the acceptability of new coinage metallic materials,
including physical, chemical, metallurgical and technical
characteristics; metallic material,
[[Page 12226]]
fabrication, minting, and distribution costs; metallic material
availability and sources of raw metals; coinability; durability;
sorting, handling, packaging and vending machines; appearance; risks to
the environment or public safety; resistance to counterfeiting;
commercial and public acceptance; and any other factor considered to be
appropriate and in the public interest.
The United States Mint is not soliciting suggestions or
recommendations on specific metallic coinage materials, and any such
suggestions or recommendations will not be considered at this time. The
United States Mint seeks public comment only on the factors to be
considered in the research and evaluation of potential new metallic
coinage materials.
Dated: February 28, 2011.
Richard A. Peterson,
Acting Director, United States Mint.
[FR Doc. 2011-4880 Filed 3-3-11; 8:45 am]
BILLING CODE 4810-37-P
