COLLEGE PARK, Md.
– The first coins minted on this week’s overhaul of the United States’ $20 coinage are minted at a central location in Maryland, and they will be produced at a new facility for about $4,000 each, officials said.
The first U.S. coins will be made at a coin factory in Southgate, Maryland, the first mint located in the U.A.E. The coin plant will produce about 500,000 coins a year, officials say.
A new facility will be established in the city of Limassol near the southern border with Turkey, where the U, S., and T currencies will be minted and used in transactions.
Officials say about $1.4 billion will be spent to overhaul the $20, the nation’s second-biggest coin.
They say it will also be used in a new form of digital currency, the $5, $10, and $20 bills.
The changes are part of an effort to improve the quality and value of the U-shaped currency that has become a symbol of America’s national pride.
Mint began issuing U. coins in 1967, when the currency was still a commodity, as a replacement for copper dollars.
It is still the only nation to mint coins in U.
Coats, with the other three producing them in gold.