Legislation again seeks rule change for coin compositions
- Published: Apr 5, 2021, 10 AM
Companion bills reintroduced in both chambers of Congress again seek to allow the Mint to change compositions of circulating U.S. coins for cost savings, should a feasibility study suggest the move.
H.R. 1789 — submitted in the 116th Congress as H.R. 7995 — was introduced March 11, 2021, in the House by Rep. Mark E. Amodei, R-Nevada.
S. 672 also seeks the rule changes and was introduced March 11, 2021, in the Senate by Sen. Margaret Wood Hassan, D-N.H. It was originally submitted in the 116th Congress as S. 4663.
H.R. 1789 was forwarded to the Committee on Financial Services and to the Committees on the Budget and Rules, for a time to be determined by House Speaker, to address provisions that may be subject to the individual committees’ scrutiny.
Both H.R. 1789 and S. 672 seek to amend Title 31, Money and Finance, of the United States Code.
Any composition changes would have to be seamless.
The original legislation was billed as the Coin Metal Modification Authorization and Cost Savings Act of 2020.
A decade of U.S. Mint research and development on composition alternatives continues under provisions of the Coin Modernization, Oversight, and Continuity Act of 2010.
Biennial Mint reports to Congress submitted in 2012, 2014, 2016 and 2018 provide facts on alternative compositions, but Congress, which has the authority under law to decide coinage compositions, has made no formal decision.
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