United States Mint Can Now Fine for Misuse of Agency's Name, Symbols, Emblems
"This regulation will not affect the vast majority of individuals and businesses selling coins or coin products," said United States Mint Director Ed Moy in the press release. "The rule will create a higher level of consumer awareness, by defending the integrity of the United States Mint's names, emblems, and symbols," Moy continued.
According to the press release, the United States Mint now has the right to fine $5,000 for each and every incident of misuse of the Mint's or Treasury Department's names, symbols, or emblems. Furthermore, any such misuse of the agencies' names, symbols, or emblems could result in an up-to $25,000 fine for each and every misuse in broadcasts and telecasts.
The United States Mint first requested public comment on the new rules in January 2005, and the proposed codes were published then in the Federal Register. The authority for this new rule is Title 31 of the United States Code, Section 333.
Businesses and individuals interested in checking out the new rules are urged in the press statement to visit the United States Mint's Consumer Awareness web page. The release further states that all protections of due process in regards to this new regulation, including fair notice, an opportunity to respond and present evidence, and the right to appeal to an appropriate Federal District Court will be granted to those charged with misuse of the names, symbols, and emblems of the United States Mint and United States Treasury Department.
According to the United States Mint's website, the agency has been in operation since 1792. The United States Mint, which produces between 11 and 20 billion coins per year as of late, operates six facilities, including the main Mint location in Philadelphia, Pennsylvania and three branch mint locations in San Francisco, California; Denver, Colorado; and West Point, New York. Two facilities are located in Washington, DC, and Fort Knox, Kentucky.
Resources:
United States Mint. "About the United States Mint." 30 October 2007. http://www.usmint.gov/about_the_mint/
United States Mint. "United States Mint Gains Authority to Fine Companies That Misuse Agency's Names, Symbols or Emblems." 30 October 2007. 30 October 2007. http://www.usmint.gov/pressroom/index.cfm?action=press_release&ID=841
Published by Joshua McMorrow-Hernandez
I am a freelance writer who has contributed web content for numerous websites including Associated Content, The Fun Times Guide, and Edubook. View profile
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2 Comments
Post a CommentVery informative. Thanks for sharing.
Just caught up reading/rating your articles of the 29th-this one. This is really interesting information. I always enjoy your press release articles. The other two were about interesting topics also and they are always written in the concise easy to read format.