A bill to provide for the minting and circulation of one dollar coins, and for other purposes.
Efficient Currency Act of 1997 - Amends Federal currency law to prescribe the color and content of one-dollar coins.
Instructs the Secretary of the Treasury to: (1) place certain authorized one-dollar coins into circulation before the government's inventory of Susan B. Anthony one-dollar coins is depleted; and (2) increase capacity at U.S. Mint facilities to a level that permits replacement of one-dollar Federal reserve notes with one-dollar coins minted according to this Act.
Prohibits the Federal reserve banks from ordering or placing into circulation one-dollar Federal Reserve notes after the Susan B. Anthony one-dollar coins and one-dollar coins minted according to this Act have reached a specified total in circulation. Directs the Secretary of the Treasury to cease regular production of one-dollar Federal Reserve notes (except for such quantities ordered by the Board of Governors of the Federal Reserve System to meet collectors' needs).
Introduced in Senate
Sponsor introductory remarks on measure. (CR S7768-7769)
Read twice and referred to the Committee on Banking.
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