With the U.S. Mint resuming the Mutilated Coin Redemption Program on January 19, 2018 after a nearly three-year suspension, ISRI achieved a victory for a top priority issue in 2017, worth millions of dollars to recyclers. ISRI worked closely with the U.S. Mint, the Department of the Treasury, and members of Congress over the last several years to get the program resumed.
The U.S. Mint’s new rules released during the fall of 2017, will once again allow the redemption of mutilated coins, such as those from shredding operations or the recycling of vending machines. The Mint, which suspended its program three years ago due to concerns about fraud, plans to update and improve the redemption process to enhance security, ensure the integrity of the nation’s coinage, and update the redemption rates.
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