As part of his opening statement, Ryder had noted that he worked for Secure Products, a company focused on developing anti-counterfeiting solutions for currency and branded products. When the company was bought out by the Honeywell Corporation in 2007, he continued to work in that division with Honeywell. What was interesting was that Ryder testified that he was involved in the development of the Royal Mint’s new 12-sided one-pound coin. He said:
Interestingly, one of my last duties while at Honeywell was a joint project with The Royal Mint of the United Kingdom where we assisted them in the development of the new UK One Pound Coin, which was introduced earlier this year. This new circulating coin is considered to be the most advanced and secure coins in circulation today.
Two takeaways from the hearing:
- It appears that Ryder should be confirmed by the Senate when the nomination is sent to the floor for a vote.
- When questioned by Sen. Thom Tillis (R-NC), Ryder addresses coinage security issues specifically with bullion coins and Chinese counterfeits. Addressing his awareness of these issues is good for both the U.S. Mint and the entire numismatic industry.
Video of the nomination hearing and the opening statements can be found on the committee website.
Hearing Video Notes
- The video opens with a silent billboard. The hearing starts at 16:44 of the video.
- Committee Chairman Mike Crapo (R-ID) gives his opening statement
- Committee Ranking Member Sherrod Brown (D-OH) gives his opening statement
- Opening statements by the nominees are offered, starting with David J. Ryder at 23:40 on the video
- 48:45-51:22 Sen. Richard Shelby (R-AL) asks about an Inspector General report expanding technology at the U.S. Mint.
- 1:39:40-1:40:30 Sen Tom Cotton (R-AR) “What are the biggest changes have you seen at the Mint from when you were the director 25 years ago”
- 1:47:05-1:49:22 Sen Thom Tillis (R-NC) Question on the future of the Mint and security.
PN1082: David J. Ryder — Department of the Treasury
Date Received from President: October 5, 2017
Summary: David J. Ryder, of New Jersey, to be Director of the Mint for a term of five years, vice Edmund C. Moy, resigned.
Received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs. — Oct 5, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. — Oct 24, 2017
This nomination can be tracked at http://bit.ly/115-PN1082.