Federal Register / Vol. 89, No. 186 / Wednesday, September 25, 2024 / Rules and Regulations 78241 

affects the physical condition of specific 

project areas or building sites. 

Accordingly, under 24 CFR 50.19(c)(6), 

this document is categorically excluded 

from environmental review under the 

National Environmental Policy Act of 

1969 (42 U.S.C. 4321). 

III. Solicitation of Comment 

HUD solicits comment on the fee rate 

to be imposed on the Section 108 

Program. HUD will publish a second 

Federal Register notice, if necessary, 

after consideration of public comments. 

This announced fee goes will become 

applicable on October 28, 2024 unless 

HUD indicates its intent to publish a 

second Federal Register notice through 

a notice on https://www.hud.gov/ 

program_offices/comm_planning/ 

section108 on October 25, 2024. 

Marion M. McFadden, 

Principal Deputy Assistant Secretary for 

Community Planning and Development. 

[FR Doc. 2024–21706 Filed 9–24–24; 8:45 am] 

BILLING CODE 4210–67–P 

DEPARTMENT OF THE TREASURY 

United States Mint 

31 CFR Part 100 

Exchange of Coin 

AGENCY: United States Mint, Department 

of the Treasury. 

ACTION: Final rule. 

SUMMARY: This final rule removes 

Treasury regulations relating to the 

exchange of bent, partial, fused, and 

mixed coins. The removal will end the 

exchange program for bent and partial 

coin. 

DATES: Effective Date: October 25, 2024. 

FOR FURTHER INFORMATION CONTACT: 

Apryl Whitaker, Senior Legal Counsel, 

Office of the Chief Counsel, United 

States Mint, at (202) 354–7938 or 

rulemaking@usmint.treas.gov. 

SUPPLEMENTARY INFORMATION: 

I. Background 

The Treasury regulations appearing at 

31 CFR 100.11 are promulgated under 

31 U.S.C. 321 and relate to the exchange 

of bent and partial coin. The last 

amendment to 31 CFR part 100, subpart 

C, was on December 20, 2017. In August 

2018, the United States Mint suspended 

the redemption program due to the 

possibility of unlawful material being 

submitted for redemption. On May 5, 

2021, the United States Mint issued a 

notice of proposed rulemaking 

proposing certain revisions to these 

regulations (86 FR 23877), which was 

withdrawn on May 3, 2024 (89 FR 

36721). The United States Mint 

subsequently decided to close the bent 

and partial coin exchange program. 

For many years, the United States 

Mint has redeemed bent and partial 

coins for full face value. However, 

circumstances surrounding the 

redemption program have materially 

changed. Today submissions must be 

carefully evaluated to ensure that 

counterfeit coins are not accepted to the 

program, and the condition of many 

coins, particularly large volumes of 

coins damaged by recycling or 

industrial processes, makes 

authentication increasingly difficult and 

time-consuming. In addition, the 

volume of coins submitted for possible 

redemption has greatly increased, and 

counterfeits have been increasingly 

identified in imported coins intercepted 

by law enforcement, as well as in 

several large submissions to the 

redemption program. The result of these 

changes is that there is no financially 

responsible way to ensure the integrity 

of the redemption program and to the 

meet the full level of demand. The 

United States Mint’s capacity to process 

mutilated coins is limited by physical 

storage capacity, caseload complexity, 

and workload. Authentication 

procedures require extensive time and 

resources. The United States Mint has 

dedicated substantial time and 

resources to the bent and partial coin 

exchange program, in addition to 

operating the program at a loss by 

paying out face value for redemptions. 

In 89 FR 36721, May 3, 2024, the 

United States Mint issued a notice of 

proposed rulemaking (NPRM) to remove 

regulations relating to the exchange of 

bent and partial coins, and it requested 

comments on the proposed revisions. In 

the NPRM, the Mint proposed to end the 

exchange program for bent and partial 

coin. As discussed below, the United 

States Mint has considered the 

comments received and has concluded 

that the proposed regulations will be 

adopted as a final rule. 

II. Public Participation 

The United States Mint received 35 

comments in response to the NPRM 

proposing to end the Mutilated Coin 

Redemption Program. Eight of these 

comments were provided by 

organizations that identified as 

businesses, two identified as a trade 

association, and the remainder of the 

comments were provided by unknown, 

anonymous, or individual persons. The 

comments are available at 

www.regulations.gov. 

Disposing of Coins 

Some commenters were concerned 

about the disposal of dimes, quarters, 

half-dollar, and dollar coins. The 

proposed rule indicated correctly that 

the melting of dimes, quarters, halfdollar, and dollar coins is not regulated 

by the United States Mint. There is no 

prohibition on melting dimes, quarters, 

half-dollar, and dollar coins for nonfraudulent purposes. Some commenters 

expressed concern that 18 U.S.C. 331 

criminalizes the melting of all U.S. 

coins. This statute, however, 

specifically addresses certain behavior 

that is conducted with the intent to 

defraud and does not address coins 

melted without fraudulent intent and 

consistent with 31 CFR part 82. 

While there is a prohibition against 

melting pennies and nickels, there is a 

specific exception at 31 CFR 82.2 for 

coins melted or treated incidental to 

recycling other materials if (1) the coins 

were not added to the other materials 

for their metallurgical value, (2) the 

volumes of the coins, relative to the 

volumes of the other materials recycled, 

makes it clear that the presence of such 

coins is merely incidental, and (3) the 

separation of the coins from the other 

materials would be impracticable or cost 

prohibitive. See 31 CFR 82.2(c). This 

exception extends to the melting of 

coins that become mutilated due to 

treatment that is itself within the scope 

of the exception. If an exception does 

not apply, then applications for licenses 

to melt pennies and nickels should be 

transmitted to the Director, United 

States Mint; 801 9th Street NW, 

Washington, DC 20220. See 31 CFR 

82.2(f). 

Some individuals were concerned 

about how they can dispose of their bent 

or partial coins. Individuals can inquire 

of their local scrap metal dealers. 

Lack of Capacity 

Some commenters indicated that the 

United States Mint’s assertion that it 

lacks the capacity to process large 

volumes of bent or partial coin is 

disingenuous, because, in the past, large 

submissions of bent or partial coin were 

delivered directly to a third-party 

contractor, not to the United States 

Mint. However, after the program was 

suspended in 2018, the United States 

Mint developed new authentication 

techniques and procedures as 

recommended by the Treasury 

Department’s Office of Inspector 

General to test and authenticate the 

genuineness of coins. To effectively 

authenticate the material with the new 

counterfeit detection methods that the 

United States Mint developed, the 


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United States Mint could no longer 

accept redemption submissions at a 

third-party site. The United States 

Mint’s coin authentication methods are 

time-consuming and can only be 

performed using specialized equipment 

at the United States Mint’s Philadelphia 

location. 

Prior Participants 

Some commenters suggested that the 

United States Mint develop a ‘‘trusted,’’ 

‘‘preferred,’’ or ‘‘qualified’’ participant 

program whereby certain participants 

that meet additional requirements could 

be allowed to submit large volumes of 

coins for possible redemption. Many of 

these commenters did not specify the 

types of additional requirements that 

would qualify these participants as 

‘‘trusted,’’ merely suggesting that certain 

participants should be allowed to 

redeem large amounts of coin. Other 

participants suggested site visits, 

background checks, a certification 

process, or compliance with industry 

standards. None of these controls 

separately or together, however, are 

sufficient to detect counterfeit coins. 

Every submission must be properly 

authenticated by the United States Mint 

to detect counterfeit coins, and 

background checks or site visits, for 

example, would not eliminate the need 

for this crucial step in the process. 

A few commenters suggested that 

coins that were stockpiled during the 

program suspension should be 

exempted, essentially allowing these 

coins to be redeemed with no 

restrictions. In August 2018, the United 

States Mint stopped processing 

submissions to the redemption program 

due to the possibility of unlawful 

material being submitted for redemption 

and later formally suspended the 

redemption program in July 2019 (84 FR 

35181). Members of the public have 

been on notice that the exchange 

program is subject to suspension and 

those who have stockpiled coins during 

its suspension assumed the risk of doing 

so. 

Office of Inspector General 

Recommendations for the Redemption 

Program 

Some commenters indicated that the 

United States Mint has not complied 

with the recommendations contained in 

the Department of the Treasury’s Office 

of Inspector General’s August 18, 2020, 

Audit Report on ‘‘Mint Controls Over 

Raw Materials and Coin Exchange 

Programs Need Improvement.’’ 

Following the issuance of these audit 

recommendations, the United States 

Mint hired additional staff and 

developed improved authentication 

procedures and testing methodology to 

detect counterfeit coins. To implement 

the new procedures, the United States 

Mint can no longer accept redemption 

submissions at a third-party site. The 

United States Mint’s coin authentication 

methods are time-consuming and can 

only be performed using specialized 

equipment and processes developed and 

installed at the United States Mint’s 

Philadelphia location. 

Environmental Concerns 

Some commenters were concerned 

that unredeemable bent or partial coins 

would end up in landfills. Although the 

melting of pennies and nickels is 

prohibited in certain instances, the 

melting of dimes, quarters, and halfdollar coins, which historically have 

made up the majority of bent or partial 

coin redemptions, is not prohibited. The 

public may melt and reuse coins 

consistent with 31 CFR part 82, which 

reduces the likelihood that 

unredeemable coins will be landfilled. 

At least one commenter indicated that, 

if the program were closed, bent or 

partial coin would end up recycled as 

scrap metal sold on the secondary 

metals market. 

Some commenters were concerned 

that closing the redemption program 

would lead to increased metals mining 

by requiring the United States Mint to 

purchase more virgin metal. The 

amount of metal contained in bent or 

partial coin redeemed is very small in 

the context of the larger metals market. 

In addition, melted coinage scrap must 

always be supplemented with pure 

nickel and copper to re-alloy the 

material for reuse. For example, quarters 

are made with a pure copper core and 

two cupronickel outer layers. These 

coins are permanently bonded in three 

layers, and the individual layers cannot 

be separated for reclamation. When 

quarters and other clad coins are 

melted, the resulting coinage scrap 

metal cannot be re-used for the core 

component, and significant amounts of 

nickel must be added to the scrap to 

create the alloy for the outer layer. The 

United States Mint’s suppliers are 

limited in the amount of scrap that can 

be used to manufacture new coin roll. 

Roughly 25% of the material that the 

United States Mint purchases for 

circulating strip is returned to the strip 

supplier as ‘‘web-scrap.’’ This material 

must be recycled, along with 

submissions from the Uncurrent Coin 

Redemption Program, which leaves very 

little use for additional scrap material. 

The United States Mint suppliers that 

redeem scrap are not required to re-use 

coin scrap material to make new coinage 

material and may—and do—sell the 

excess coin scrap material as scrap. At 

least one commenter indicated that, if 

the program were closed, bent or partial 

coin would end up recycled as scrap 

metal sold on the secondary metals 

market. Therefore, the proposed 

limitations on submissions will not lead 

to an appreciable increase in the use of 

primary nickel or copper. 

Some commenters suggested 

evaluating the environmental impact of 

the redemption program’s closure under 

the National Environmental Policy Act 

(NEPA). It is the determination of the 

United States Mint that the final rule 

does not constitute a major Federal 

action significantly affecting the quality 

of the human environment, and, in 

accordance with the NEPA, neither an 

Environmental Assessment nor an 

Environmental Impact Statement is 

required. 

Discretionary Program 

Some commenters indicated that the 

redemption program is not a 

discretionary program and is instead 

mandated by law. The relevant statutes 

and regulations pertaining to the U.S. 

Department of Treasury and the overall 

statutory framework applicable to the 

program give broad discretion to the 

Secretary of the Treasury. The 

regulations at 31 CFR part 100, subpart 

C, are promulgated under 31 U.S.C. 321. 

By law, the Secretary of the Treasury 

‘‘shall melt obsolete and worn United 

States coins withdrawn from 

circulation.’’ See 31 U.S.C. 5120. This 

statute simply prescribes the method of 

destruction that the Secretary is to 

employ when the Secretary withdraws 

obsolete and worn coins from 

circulation. There is no statutory 

requirement for the redemption of 

mutilated coins. Nor does the statute say 

how the Secretary shall acquire those 

coins, how the Secretary shall go about 

withdrawing those coins from 

circulation, or how the Secretary shall 

go about melting coins that have been 

withdrawn. These details are entirely 

committed to the Secretary’s discretion, 

and pursuant to that discretion, the 

Mutilated Coin Redemption Program 

was established. See 31 CFR 100.11. 

The expenses of the Mutilated Coin 

Redemption Program are entirely paid 

for through the United States Mint 

Public Enterprise Fund (PEF), a 

revolving fund that was created to fund 

all United States Mint operations in lieu 

of any appropriations from Congress. 

See 31 U.S.C. 5136. The PEF legislation 

makes clear that ‘‘all expenses incurred 

by the Secretary of the Treasury for 

operations and programs of the United 

States Mint that the Secretary of the 

Treasury determines, in the Secretary’s 


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sole discretion, to be ordinary and 

reasonable incidents of Mint operations 

and programs . . . shall be paid out of 

the Fund.’’ Id. (emphasis added). In 

other words, the Secretary of the 

Treasury is given sole discretion to 

decide whether the Mutilated Coin 

Redemption Program will operate and 

be funded. This issue was specifically 

considered by the court in Bramlett v. 

United States Dep’t of the Treasury, No. 

16–257 and 16–270, 2017 WL 1048366 

at *5 (E.D. Pa. March 20, 2017), which 

held that the suspension or termination 

of the redemption program is committed 

to agency discretion by law. 

Existence of Counterfeits 

Some commenters suggested that the 

United States Mint has no evidence of 

any counterfeit coins. There are 

indicators of current counterfeit coin 

fraud schemes aimed at the Mutilated 

Coin Redemption Program, the details of 

which are law enforcement sensitive. 

The United States Government was 

successful in forfeiting counterfeit coins 

in United States of America v. 5 Crates 

of Counterfeit Coins, CV 20–08487, in 

the United States District Court in the 

Central District of California. In 

declaring the coins in this case to be 

counterfeit and forfeited to the U.S., the 

court specifically relied on the United 

States Mint’s counterfeit determination. 

Impact on Circulating Coins 

Some commenters expressed concern 

that closing the program would impact 

the quality of coins in circulation and 

thus undermine the public’s confidence 

and trust in the currency system. 

Commenters, however, did not provide 

information supporting their belief that 

bent or partial coins will no longer be 

removed from circulation if the 

redemption program were closed. For 

example, bent and partial coins that are 

recovered from trash or recycling have 

already been removed from circulation, 

and there is no information available to 

the United States Mint or in the record 

to support the premise that somehow 

these coins will continue to circulate if 

the redemption program were closed. 

Likewise, individuals and business will 

continue to remove bent or partial coins 

from circulation. 

Additional commenters suggested that 

closing the program will impact the 

United States Mint’s Uncurrent Coin 

Redemption Program, due to bent or 

partial coins being diverted to the 

Uncurrent Coin Redemption Program. 

The United States Mint’s Uncurrent 

Coin Redemption Program will continue 

in accordance with 31 CFR 100.10 and 

the Federal Reserve’s Operating Circular 

2. The Uncurrent Coin Redemption 

Program allows financial institutions to 

redeem whole U.S. coins which are 

merely worn or reduced in weight by 

natural abrasion, are readily and clearly 

recognizable as to genuineness and 

denomination, are machine countable, 

and do not include bent or partial coins. 

See 31 CFR 100.10. Neither the U.S. 

Mint nor the Federal Reserve will 

redeem any bent or partial coins. 

Operating Losses 

Some commenters indicated that 

operating losses are not a valid reason 

for the United States Mint to end the 

redemption program, because the 

program has always operated at a loss. 

Commenters requested specific numbers 

detailing the program’s operating losses. 

Costs to run the program in the past 

have included the payout of the face 

value of the coins being reimbursed, less 

the scrap credit the United States Mint 

receives from its suppliers for raw 

material, and the cost to travel to the 

suppliers to witness the melt, in 

addition to the resource costs for the 

various support personnel. In 2014—the 

last year the program was fully 

operational—the United States Mint 

paid out roughly $30 million in 

reimbursement and received roughly $5 

million in scrap credit, for a total cost 

of about $25 million (not including the 

cost of travel, resources expended, and 

other costs of operating the program). 

The United States Mint’s programs are 

self-sustaining and operate at no cost to 

the taxpayer. The United States Mint 

has a fiduciary responsibility to be a 

prudent steward of its funds and to 

minimize expenses. The expenses of the 

Mutilated Coin Redemption Program are 

considered part of the United States 

Mint’s circulating coin expenses and are 

paid from the United States Mint Public 

Enterprise Fund, a revolving fund that 

was created to fund all United States 

Mint operations in lieu of any 

appropriations from Congress. See 31 

U.S.C. 5136. Circulating operations are 

financed by the sale of circulating coins 

to the Federal Reserve Bank. In recent 

years, the United States Mint’s 

seigniorage, which is the difference 

between the face value and cost of 

producing circulating coinage, has 

significantly declined. For example, as 

of June 2024, year-to-date seigniorage 

has decreased 92% compared to June 

2023 due to lower coin orders from the 

Federal Reserve Bank. In view of this 

decline, continued operation of the 

redemption program would not be 

financially responsible. 

Congressional Intent 

Some commenters point to a 2023 

House Appropriations Committee report 

that indicated that the United States 

Mint should work with stakeholders to 

redeem mutilated coin within the 

existing regulations and expressed their 

concern that the United States Mint’s 

proposed closure of the program is 

contrary to the intent of Congress. See 

H.R. Rep No. 118–145 (2023). In that 

report, the Committee indicated that it 

expects that the United States Mint will 

work with entities to recover coin to 

redeem bent and partial coin through 

the redemption program, because, 

according to the report, there was no 

other reasonable way to manage 

recovered coin. Consistent with the 

recommendations in the report, the 

United States Mint engaged with its 

program stakeholders through this 

formal rulemaking process. The United 

States Mint has addressed the concern 

regarding disposal of recovered coin to 

the extent possible by providing 

information on avenues for the disposal 

of coins following the program’s 

closure. The comments received on the 

proposed rule closing the program 

recommended that the redemption 

program should re-open without any 

limitations on the amount of coin 

submitted. While the United States Mint 

has carefully considered these 

comments, as described above, there is 

no financially responsible way to ensure 

the integrity of the redemption program 

and to meet the full level of demand. 

Low Denomination Coins 

Several commenters suggested that 

the program should remain open for low 

denomination coins, such as pennies 

and nickels, because, in their view, the 

risk of counterfeiting lower 

denominations is lower or non-existent 

given the lack of economic incentive to 

counterfeit low denominations. While 

low denomination coins may be less 

likely to be counterfeited, this would 

not eliminate the need for the United 

States Mint to sample, inspect, and test 

coins submitted to be redeemed, 

regardless of denomination. Given these 

procedural constraints, the United 

States Mint could no longer accept 

redemption submissions at a third-party 

site and, as described above, does not 

have the capacity to do so in 

Philadelphia. 

Fees 

A couple of commenters suggested 

that the United States Mint develop a 

small administrative fee for bent or 

partial coin redemption. As discussed 

above, the redemption program’s 

operating expenses are significant. A 

small administrative fee (one 

commenter suggested 1% of the value of 

each submission) would cover only a 


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78244 Federal Register / Vol. 89, No. 186 / Wednesday, September 25, 2024 / Rules and Regulations 

very small portion of the redemption 

program’s operating costs. 

Extension of Comment Period 

Several commenters requested an 

extension of time to comment on the 

proposed rule. The United States Mint 

found the 60-day comment period 

length appropriate and provided a 

meaningful opportunity for interested 

parties to comment on the proposed 

rule. Of the commenters that submitted 

extension requests, most were able to 

provide substantive responses by the 

deadline. 

III. Procedural Analysis 

Regulatory Planning and Review 

The Office of Management and Budget 

has determined that this rule does not 

constitute a ‘‘significant regulatory 

action’’ under Executive Order 12866, as 

amended. 

Regulatory Flexibility Act Analysis 

Pursuant to the Regulatory Flexibility 

Act (RFA) (5 U.S.C. 601 et seq.), it is 

hereby certified that the revisions will 

not have a significant economic impact 

on a substantial number of small 

entities. First and foremost, the 

regulations do not directly regulate any 

entities. The redemption of bent or 

partial coins is a discretionary service 

offered to the public; participation is 

voluntary. 

In accordance with section 3(a) of the 

Regulatory Flexibility Act, the United 

States Mint has reviewed the proposed 

regulation. While the United States Mint 

certifies that the final rule—or in this 

case—the removal thereof, will not have 

a significant economic impact on a 

substantial number of small entities 

given that the regulations do not 

directly regulate any entities, the United 

States Mint has prepared a Final 

Regulatory Flexibility Analysis in 

accordance with 5 U.S.C. 604. 

1. Statement of the Need for, Objectives 

of, and Legal Basis for, the Rule 

The regulations at 31 CFR part 100, 

subpart C, are promulgated under 31 

U.S.C. 321, and provide for the 

exchange of uncurrent, bent, partial, 

fused, and mixed coins. For the reasons 

herein, the United States Mint has 

decided to close the bent and partial 

coin exchange program, which is a 

discretionary program that is not 

mandated by law. 

2. Significant Comments in Response to 

the Initial Regulatory Flexibility 

Analysis 

One commenter that appeared to be a 

small business indicated that closing the 

program would lead to closing their 

business but did not quantify the 

specific economic impact of the 

proposed changes to this voluntary and 

discretionary program. One of the 

commenters stated that they worked for 

the City of Juneau, Alaska, a small entity 

as defined by the RFA, and inquired 

about how to dispose of ‘‘several 

mutilated coins [accumulated] over the 

years.’’ The commenter did not express 

opposition to the program’s closure and 

merely requested information about 

where to dispose of what appears to be 

a very small number of coins. The 

United States Mint has carefully 

considered the impact of the 

redemption program’s closure on small 

businesses; however, for the reasons 

discussed herein, there is no financially 

responsible way for the United States 

Mint to expand the resources devoted to 

the program necessary to meet the full 

level of demand. The United States Mint 

has carefully reviewed all the comments 

that were submitted and, based on the 

data available, has analyzed the 

regulatory flexibility impact using 

reasonable assumptions. 

3. Small Entities Affected by the Rule 

The number of entities tendering 

significant quantities of coins for 

redemption in the past has been small. 

A large number of entities redeeming 

coins in the past were individuals—not 

businesses. A wide variety of 

businesses, such as municipal entities, 

recyclers, coin processors, amusement 

parks, auto shops, and waste 

management companies have applied 

for coins to be redeemed in the past. 

Data on the number of small entities 

voluntarily submitting coins to the 

redemption program was not provided 

by the commenters or within the public 

docket. Likewise, the United States Mint 

does not have data within its possession 

regarding the numbers of small entities 

submitting coins. The United States 

Mint has carefully reviewed all the 

comments that have been submitted 

and, based on the data available, has 

analyzed the regulatory flexibility 

impact using reasonable assumptions. 

4. Projected Reporting, Recordkeeping, 

and Other Compliance Requirements 

The United States Mint has not 

identified any reporting, recordkeeping, 

or other compliance requirements 

associated with the rule. 

5. Steps Taken To Minimize Impacts on 

Small Entities and Alternatives 

Considered 

The United States Mint considered 

alternatives in promulgating this final 

rule. For example, the United States 

Mint considered re-opening the program 

under the parameters identified in the 

May 5, 2021, Federal Register document 

(86 FR 23877), proposing certain 

revisions to these regulations that would 

establish weight and shipment limits 

per participant and would prohibit the 

submission of certain kinds of coins or 

coins with certain kinds of damage. 

However, re-opening the program—even 

with these restrictions—would entail 

significant costs to the United States 

Mint. Further, the volume of coins 

submitted for possible redemption has 

greatly increased over the years, and 

there is no financially responsible way 

for the United States Mint to expand the 

resources devoted to the program 

necessary to meet the full level of 

demand. In response to the United 

States Mint’s May 5, 2021, Federal 

Register document (86 FR 23877), 

several commenters expressed concern 

with the proposed 1,000 lb. per month 

submission limit, indicating that 

businesses have large volumes of coins 

to be redeemed that well exceed the 

monthly or annual limit. For example, 

one vendor alone indicated that at a rate 

of 1,000 lbs. per month, it would take 

over seven years just to redeem a 

portion of its inventory. The prior 

rulemaking indicated that, under these 

limits, participants would not be 

guaranteed the right to submit 1,000 lbs. 

per month; nor would the United States 

Mint have capacity even at this low rate 

to evaluate more than a small number of 

submissions per month. 

The United States Mint considered reopening the program for a short, limited 

time under the new parameters 

identified in the May 5, 2021, Federal 

Register document (86 FR 23877) with 

a published sunset date to allow those 

that have stored their mutilated coins in 

anticipation of the program reopening to 

submit their mutilated coins. It is clear, 

however, that there is no financially 

responsible way for the United States 

Mint to expand the resources devoted to 

the program necessary to meet the full 

level of demand, even for a limited time. 

List of Subjects in 31 CFR Part 100 

Coins. 

For the reasons set forth in the 

preamble, the United States Mint 

amends 31 CFR part 100 as follows: 

PART 100—EXCHANGE OF PAPER 

CURRENCY AND COIN 

■ 1. The authority citation for part 100 

continues to read as follows: 

Authority: 31 U.S.C. 321. 

§ 100.11 [Removed and Reserved] 

■ 2. Remove and reserve § 100.11. 


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Federal Register / Vol. 89, No. 186 / Wednesday, September 25, 2024 / Rules and Regulations 78245 

■ 3. Amend § 100.12 by revising 

paragraph (b) to read as follows: 

§ 100.12 Exchange of fused or mixed coin. 

* * * * * 

(b) Fused and mixed coins. The 

United States Mint will not accept fused 

or mixed coins for redemption. 

§ 100.13 [Amended] 

■ 4. Amend § 100.13 by: 

■ a. Removing paragraph (a); 

■ b. Redesignating paragraphs (b) 

through (d) as paragraphs (a) through 

(c), respectively; and 

■ c. In newly redesignated paragraph 

(b), removing the phrase ‘‘to any bent or 

partial’’. 

Ventris C. Gibson, 

Director, United States Mint. 

[FR Doc. 2024–21936 Filed 9–24–24; 8:45 am] 

BILLING CODE 4810–37–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

31 CFR Part 587 

Publication of Russian Harmful 

Foreign Activities Sanctions 

Regulations Determinations 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Publication of determinations. 

SUMMARY: The Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing one 

determination issued pursuant to an 

April 15, 2021 Executive order, as 

amended on December 22, 2023. OFAC 

is also publishing one new and one 

amended determination issued pursuant 

to a March 11, 2022 Executive order, as 

amended on December 22, 2023. The 

determinations were previously issued 

on OFAC’s website. 

DATES: The Determination Pursuant to 

Section 11(a)(ii) of Executive Order 

14024 took effect on December 22, 2023. 

See SUPPLEMENTARY INFORMATION for 

additional relevant dates. 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Assistant Director for Licensing, 

202–622–2480; Assistant Director for 

Regulatory Affairs, 202–622–4855; or 

Assistant Director for Compliance, 202– 

622–2490 or https://ofac.treasury.gov/ 

contact-ofac. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

This document and additional 

information concerning OFAC are 

available on OFAC’s website: https://

ofac.treasury.gov. 

Background 

On April 15, 2021, the President, 

invoking the authority of, inter alia, the 

International Emergency Economic 

Powers Act (50 U.S.C. 1701 et seq.) 

(IEEPA), issued Executive Order (E.O.) 

14024, ‘‘Blocking Property With Respect 

To Specified Harmful Foreign Activities 

of the Government of the Russian 

Federation’’ (86 FR 20249, April 19, 

2022). 

On December 22, 2023, the President, 

invoking the authority of, inter alia, 

IEEPA, issued E.O. 14114, ‘‘Taking 

Additional Steps With Respect to the 

Russian Federation’s Harmful 

Activities’’ (88 FR 89271, December 26, 

2023). Among other things, E.O. 14114 

amends E.O. 14024 to redesignate 

section 11 as section 12 and add a new 

section 11. Section 11(a) of E.O. 14024, 

as amended, provides that the Secretary 

of the Treasury, in consultation with the 

Secretary of State, and with respect to 

subsection (a)(ii) of this section, in 

consultation with the Secretary of State 

and the Secretary of Commerce, is 

hereby authorized to impose on a 

foreign financial institution the 

sanctions described in subsection (b) of 

this section, upon determining that the 

foreign financial institution has met the 

criteria in section 11(a)(i) or section 

11(a)(ii). Section 11(a)(ii) of E.O. 14024, 

as amended, authorizes the imposition 

of sanctions on a foreign financial 

institution that has conducted or 

facilitated any significant transaction or 

transactions, or provided any service, 

involving Russia’s military-industrial 

base, including the sale, supply, or 

transfer, directly or indirectly, to the 

Russian Federation of any item or class 

of items as may be determined by the 

Secretary of the Treasury, in 

consultation with the Secretary of State 

and the Secretary of Commerce. 

E.O. 14114 also amends E.O. 14068 by 

striking subsection (a)(i) of section 1 of 

E.O. 14068 and inserting a new 

subsection (a)(i). Subsection (a)(i)(A) of 

E.O. 14068, as amended, provides that 

the importation and entry into the 

United States, including importation for 

admission into a foreign trade zone 

located in the United States, of the 

following products of Russian 

Federation origin: fish, seafood, and 

preparations thereof; alcoholic 

beverages; non-industrial diamonds; 

and any other products of Russian 

Federation origin, as may be determined 

by the Secretary of the Treasury, in 

consultation with the Secretary of State 

and the Secretary of Commerce is 

prohibited. 

Subsection (a)(i)(B) of E.O. 14068, as 

amended, provides that the importation 

and entry into the United States, 

including importation for admission 

into a foreign trade zone located in the 

United States, of categories of any of the 

following products as may be 

determined by the Secretary of the 

Treasury, in consultation with the 

Secretary of State, the Secretary of 

Commerce, and the Secretary of 

Homeland Security, that were mined, 

extracted, produced, or manufactured 

wholly or in part in the Russian 

Federation, or harvested in waters under 

the jurisdiction of the Russian 

Federation or by Russia-flagged vessels, 

notwithstanding whether such products 

have been incorporated or substantially 

transformed into other products outside 

of the Russian Federation: fish, seafood, 

and preparations thereof; diamonds; and 

any other such products as may be 

determined by the Secretary of the 

Treasury, in consultation with the 

Secretary of State, the Secretary of 

Commerce, and the Secretary of 

Homeland Security is prohibited. 

On December 22, 2023, pursuant to 

delegated authority, the Director of 

OFAC, in consultation with the 

Secretary of State and the Secretary of 

Commerce, issued a determination 

identifying certain items or classes of 

items pursuant to section 11(a)(ii) of 

E.O.14024, as amended by E.O. 14114. 

Also on December 22, 2023, pursuant to 

delegated authority, the Director of 

OFAC, in consultation with the 

Department of State, the Department of 

Commerce, and the Department of 

Homeland Security, issued a 

determination pursuant to sections 

1(a)(i)(B), 1(b), and 5 of E.O. 14068 to 

determine that the prohibitions in 

section 1(a)(i)(B) of E.O. 14068 shall 

apply to certain categories of fish, 

seafood, and preparations thereof. 

Additionally, on December 22, 2023, the 

Director of OFAC, in consultation with 

the Department of State and the 

Department of Commerce, re-issued an 

amended determination pursuant to 

sections 1(a)(i)(A), 1(b), and 5 of E.O. 

14068 that had previously determined 

that the prohibitions in section 1(a)(i) of 

E.O. 14068 applied to gold of Russian 

Federation origin. Each determination 

was made available on OFAC’s website 

(https://ofac.treasury.gov) when it was 

issued. The text of these determinations 

is below. 

OFFICE OF FOREIGN ASSETS 

CONTROL 

Determination Pursuant to Section 

11(a)(ii) of Executive Order 14024 

Section 11(a)(ii) of Executive Order 

(E.O.) 14024 of April 15, 2021 

(‘‘Blocking Property With Respect To 


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