Mint plans end of mutilated coin exchange program, seeks comments

[pmbug]

The United States Mint’s management is seeking public comment through July 2 on the bureau’s announcement May 3 in the Federal Register that it plans to close its Mutilated Coin Redemption Program pertaining to the face value exchange of bent and partial coins.

In the May 3 announcement, Mint officials explain that the program not only operates at a loss but is too cumbersome to practically manage, because the sheer volume of coins submitted for replacement numbers in the millions. Some of the submissions have included numerous counterfeit United States coins, which resulted in lawsuits and an indefinite suspension of the Mutilated Coin Redemption Program.
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Mint plans end of mutilated coin exchange program, seeks comments

Because of burgeoning submissions of complex caseloads requiring time-consuming analysis and limited capacity for the process, the Treasury Department plans an end to its Mutilated Coin Redemption Program.

www.coinworld.com

Are they going to remove the prohibition on melting cents and nickles?

 

[nickndfl]

I have a piece of a silver coin from 1715. Does that mean I can't go into BoA and get a new half dollar for it because Juan chopped it up 300 years ago to made change??