No Silver? No Problem: US Mint Would Like To Know If You Will Accept Brass, Steel, Iron Or Tungsten Coins Instead

Tyler Durden's picture

Wonder why the US mint has not sold a single ounce of silver so far in March? Here is a clue:

United States Mint Seeks Public Comment on Factors to be Considered
in Research and Evaluation of Potential New Metallic Coinage Materials

WASHINGTON - The United States Mint today
announced that it is requesting public comment from all interested
persons on factors to be considered in conducting research for
alternative metallic coinage materials for the production of all
circulating coins.

These factors include, but are not limited to,
the effect of new metallic coinage materials on the current suppliers of
coinage materials; the acceptability of new metallic coinage materials,
including physical, chemical, metallurgical and technical
characteristics; metallic material, 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 and public
safety; resistance to counterfeiting; commercial and public acceptance;
and any other factors considered to be appropriate and in the public

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.

The recently enacted Coin Modernization,
Oversight, and Continuity Act of 2010 (Public Law 111-302) gives the
United States Mint research and development authority to conduct studies
for alternative metallic coinage materials.  Additionally, the new law
requires the United States Mint to consider certain factors in the
conduct of research, development, and solicitation of input or work in
conjunction with Federal and nonfederal entities, including factors that
the public believes the United States Mint should consider to be
appropriate and in the public interest.

Comments must be submitted on or before April 4, 2011.  Interested parties may submit written comments by any of the following methods:

Fax: (202) 756-6500
Mail: New Coin Materials Comments
Mail Stop:  Manufacturing 6 North
United States Mint
801 Ninth Street, N.W.
Washington D.C.  20220
Hand Delivery/Courier:  Same as mail address.

further information, contact:  Jean Gentry, Deputy Chief Counsel,
United States Mint at (202) 354-7359 (not a toll-free call).

h/t Alexander Gloy