INDUSTRY INFORMATION
Learn about global trends, market demands, and regulations in scrap coin recycling.
Mutilated Coin Redemption Program
The United States Mint’s Mutilated Coin Redemption is permanently closed. The United States Mint is no longer accepting bent or partial coins for redemption.
Request for Examination of Coin for Possible Redemption us mint
The United States Mint will not accept uncurrent coins for redemption. Members of the public wishing to redeem lawfully held uncurrent coins must deposit the uncurrent coins with a bank or other financial institution that will accept them, or with a depository institution that has established a direct customer relationship with a Federal Reserve Bank. A Federal Reserve Bank will redeem uncurrent coins, based on the policies described in the Federal Reserve’s Operating Circular 2.
THE WEALTHY MAX STORY
Lost Coins Help Prop Up the Multibillion-Dollar Car Recycling Industry
There’s so much loose change hiding in American cars that, cumulatively, our abandoned coins are a multimillion dollar revenue stream that helps prop up an entire industry.
Americans lose almost $70 million worth of change every year and most of it ends up in the trash.
Lots of that trash ends up at Reworld Metals outside Philadelphia. Hiding in heaps of metal waste are tens of thousands of dollars worth of pennies, nickels, dimes and quarters. Using special machines, they run a massive coin recovery program that finds, sifts, and cleans the change. After the change is cleaned, it gets recirculated back into the economy.
Americans throw away $62 million in coins each year
That’s an estimate from recycling and waste management company Covanta Holding Corp. (CVA), which says that the coins are probably tossed accidentally, thanks to high-powered vacuums that suck up the money while cleaning couch cushions, car seats, and other nooks and crannies.
Meet Australia’s Indiana Jones of coin hunters
Who has made millions raiding tourist traps around the world… but claims he’s been robbed of even more by greedy officials.
Australian government accused of “legalised theft”over damaged coin crackdown
Workers in China sift through piles of shredded aluminium. Damaged coins are pulled from piles of metal scrap.
Denmark releases Chinese tourists held over “fake” coin
Danish authorities have released two Chinese citizens detained for 48 days after attempting to exchange a huge bag of Danish coins mistaken for counterfeit money.
The accused duo were found not guilty and told they were free to go after police and the central bank confirmed that the kroner, which amounted to 32,765 euros, was not fake.
Coin recovery from industrial waste, incineration and automotive scrap
Redwave has launched the new sensor based Redwave CX Coin Sorter, a sorting system for recovering coins from industrial waste incineration (IWI) slag and automotive scrap.
Coin Recovery from Incinerator Bottom Ash – Daisy, the Coin Concentrator
Modern technology is now being introduced into this industry.