To amend title 31, United States Code, to save the American taxpayers money by immediately altering the metallic composition of the 1-cent coin, to require a prompt review and report, with recommendations, for cost-saving changes in the metallic content of other circulating United States coins, and for other purposes.
Cents and Sensibility Act - Revises the discretionary authority of the Secretary of the Treasury to prescribe the weight and the composition of the alloy of the one-cent coin.
Requires that the one-cent coin be: (1) produced primarily of steel; and (2) treated to impart a copper color to its appearance so that the appearance is similar to one-cent coins produced of a copper-zinc alloy.
Exempts from such requirement certain Lincoln Bicentennial numismatic pennies.
Requires the Secretary of the Treasury to report to certain congressional committees on a unified plan to change the metallic content of the five-cent, ten-cent, quarter-dollar and half-dollar circulating coins so as to return the ratios between the unit cost to produce such coins and their face value to a point where it is as close as possible to the historic production-cost-to-face-value ratios achieved in the 1980s.
Introduced in House
Introduced in House
Referred to the House Committee on Financial Services.
Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line