US Mint Low-Denomination Coin Study

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
FINAL - Supporting Statementt B_4-28-14.rtf	Supporting Statement B	Uploaded 2014-06-20	Available
FINAL DRAFT - Supporting Statement A 4-28-14.doc	Supporting Statement A	Uploaded 2014-06-20	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
212012	Low-Denomination Coin Study	Instruction	New

ICR Details

OMB Control No:	ICR Reference No: 201406-1525-001
Status: Historical Inactive	Previous ICR Reference No:
Agency/Subagency: TREAS/MINT	Agency Tracking No:
Title: US Mint Low-Denomination Coin Study
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 06/23/2014
OIRA Conclusion Action: Improperly submitted	Conclusion Date: 06/27/2014
	Date Received in OIRA: 06/20/2014
Terms of Clearance: OMB returns the collection as improperly submitted. The agency must provide a better understanding of why the agency needs emergency processing for the collection. The agency must also provide a better understanding of the research questions it intends to answer with the information collection and a more appropriate survey design that reflects these research questions.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date		6 Months From Approved
Responses	0	0	0
Time Burden (Hours)	0	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: This survey is intended to solicit the public's perspective regarding feedback the United States Mint has received to date from its stakeholders on factors identified as a result of the bureau's research and development efforts on alternative metals for circulating United States coinage. This collection activity will enable the Agency to prepare a recommendation to "Assess the Future of Currency, Including the Penny" which is a part of the President's 2015 budget. Specifically, the President's 2015 budget includes the following statement. "The production and circulation of currency in the United States have been largely unchanged for decades, despite the growth in electronic financial transactions. Treasury is undertaking a comprehensive review of U. S. currency, including a review of both the production and use of coins, in order to efficiently promote commerce in the 21st Century. These studies will analyze alternative metals, the United States Mint facilities, and consumer behavior and preferences, and will result in the development of alternative options for the penny and the nickel."

Emergency Justfication: This expedited review is needed to enable the Agency to prepare a recommendation to “Assess the Future of Currency, Including the Penny” which is a part of the President’s 2015 budget. Specifically, the President’s 2015 budget includes the following statement. “The production and circulation of currency in the United States have been largely unchanged for decades, despite the growth in electronic financial transactions. Treasury is undertaking a comprehensive review of U. S. currency, including a review of both the production and use of coins, in order to efficiently promote commerce in the 21st Century. These studies will analyze alternative metals, the United States Mint facilities, and consumer behavior and preferences, and will result in the development of alternative options for the penny and the nickel.” (emphasis added) This collection activity will influence possible policy decisions impacting the future of the nation’s circulating coinage. This survey will contribute data about the public’s interest as the Secretary of the Treasury considers possible changes to the production of low denomination coins and the metals used to construct low denomination coins. The Agency has a report due to Congress by the end of this year using the data collected to support policy decisions. Additionally, this survey will support the Agency’s response to budget pass back language OMB included about low denomination coins . The U. S. Mint published a FRN seeking comment on this collection activity April 18, 2014 and has received no comments as of this writing.

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Authorizing Statute(s): None

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 22006	04/18/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Low-Denomination Coin Study

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Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new collection.

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Annual Cost to Federal Government: $57,498

Does this IC contain surveys, censuses, or employ statistical methods? Yes Part B of Supporting Statement

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 06/20/2014

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