Last week, the U.S. Senate confirmed David J. Ryder as the next U.S. Mint Director for a term of five years. Mr. Ryder was the U.S. Mint Director during the George W. Bush Administration.
During Mr. Ryder’s confirmation hearing, Senator Tim Scott (R-SC) asked the nominee about the Mint’s Mutilated Coin Redemption Program whereupon, Mr. Ryder replied that he was very familiar with the long-standing program and supported its resumption. The Mint resumed the Mutilated Coin Redemption Program through a final rule on December 20, 2017 and released certification guidelines on February 28, 2018.The Mint has recently begun accepting mutilated coins after a three year suspension. However, the Mint does reserve the right to inspect any facility before accepting coins or if it believes there is a need to visit and may refer any discrepancy onto federal law enforcement for investigation and prosecution. Please refer to ISRI’s website for more information or contact Billy Johnson.