TAGS: vending machine, vending industry, coin-op news, U.S. Mint, public comments, alternative metallic content of coins, coin production costs, National Automatic Merchandising Association
WASHINGTON -- The U.S. Mint said it is accepting public comments on its mandate by Congress to research alternative metallic content of coins to lower production costs and the National Automatic Merchandising Association is urging industry members to lend their voice.
Changes in metallic content, shape or size could call for anything from a simple recalibration in vending machines to the installation of new coin-accepting equipment, with a cost that would range from $100 to $500 per vending machine, according to NAMA senior vice-president of government affairs Eric Dell.
With an estimated seven million vending machines across the country, the costs of such changes could amount to an industry cost of $3.5 billion, negatively impacting the entire vending and foodservice industry and its consumers.
Dell said the Mint is assessing all coins for savings in production and NAMA is working with other industries that would be negatively impacted by changes in the metallic content, shape or size of coins.
NAMA has prepared an electronic letter expressing its concerns about the negative impact change to coin composition could have on vending that it is urging industry members to sign and email directly to the Mint by clicking "send message" after entering their information. Those who signed the letter at the recent NAMA OneShow should not send it again.