Mint plans end of mutilated coin exchange program, seeks comments

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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