Redemption Rates and Procedures, 41468-41470 [2014-16035]

Download as PDF 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 VerDate Mar<15>2010 17:37 Jul 15, 2014 Jkt 232001 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 http:// 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 http://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), VerDate Mar<15>2010 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 16JYP1 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: VerDate Mar<15>2010 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 http:// 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 http://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 http:// www.copyright.gov/docs/recordation/. E:\FR\FM\16JYP1.SGM 16JYP1

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]


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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

0
1. The authority citation for part 100 continues to read as follows:

    Authority: 31 U.S.C. 321.

Subpart C--Exchange of Coin

0
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.
0
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.
0
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