FCA Info Memo - Presidential $1 Coin Act of 2005 -- Farm Credit System Requirements

Informational Memorandum
Subject:	Presidential $1 Coin Act of 2005 -- Farm Credit System Requirements
Date of Memorandum:	04/16/2007
Expiration Date:
Office:	Office of Management Services
Signed By:	Smith, Stephen
FCA Contact Person:	von Reyn, John
Contact Phone:	703-883-4120
List of Attachments:

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April 16, 2007

To: Chief Executive Officer

All Farm Credit System Institutions

From: Stephen G. Smith, Director

Office of Management Services

Subject: Presidential $1 Coin Act of 2005 – Farm Credit System Requirements

The U.S. Mint began releasing the new dollar coins this year. In addition to authorizing these new coins, the Presidential $1 Coin Act of 2005 requires many entities to be fully capable of accepting and dispensing $1 coins and to display signs and notices of this capability. In order to comply with the law, your institution will need to:

be fully capable of accepting and dispensing $1 coins in connection with any of your operations that involve coins and currency;
display signs and notices noting the $1 coin capability on vending machines. This requirement applies to all vending machines on your premises regardless of ownership.

The U.S. Mint is in the process of developing reproducible artwork for signs and notices to assist institutions in complying with the Act. The U.S. Mint Web site

www.usmint.gov

is the best source of additional information on the Presidential $1 Coin Act of 2005 and its requirements. If you have any other questions about this memorandum, please call John vonReyn, Information Management Specialist, Office of Management Services, at (703) 883-4120, or e-mail him at

vonreynj@fca.gov