In December, the U.S. Mint announced the resumption of the Mutilated Coin Redemption Program after a nearly three year suspension. ISRI led the successful effort to resume the program and provided guidance and suggestions to the Mint including site visits and certification for large redeemers.
Information about the Mutilated Coin Redemption Program may be found on ISRI’s website. As part of the Mint’s notice in December, they announced that large redeemers could be subject to a certification process depending on the submission amounts and frequency of submissions.
On Monday, January 8, the Mint provided the details about submission amounts and frequency that will trigger the certification requirements. The Mint will also provide the certification guidelines. If certification is required, it must be completed prior to submission of coins. Certification will not be required for each submission. The threshold amounts, frequency, and certification process information will be provided on the Mint’s website. Other provisions of the December announcement indicate that the Mint reserves the right to require participants to include an estimate of the value of the coins and an explanation of how the coins came to be bent or partial. Participants may also be required to provide documentation about how they came into custody of these coins. The Mint also reserves the right to test samples from any submission to authenticate the material. Furthermore, the Mint has the authority to refer suspicious submissions to law enforcement for investigation. For additional information about the Mutilated Coin Redemption Program, please contact Billy Johnson.