I
119THCONGRESS
1
STSESSION H. R. 1270
To suspend the production of the penny and nickel, to require the Comptroller
General of the United States to carry out a study on pennies and
nickels, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY12, 2025
Mr. S
CHWEIKERTintroduced the following bill; which was referred to the
Committee on Financial Services
A BILL
To suspend the production of the penny and nickel, to re-
quire the Comptroller General of the United States to
carry out a study on pennies and nickels, and for other
purposes.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SAVING TAXPAYERS MONEY BY SUSPENDING 3
PRODUCTION OF THE PENNY AND NICKEL. 4
(a) T
EMPORARYSUSPENSION OFPRODUCTION.—Ex-5
cept as provided in subsection (b) and notwithstanding 6
any other provision of law, the Secretary of the Treasury 7
shall cease production of one-cent and five-cent coins dur-8
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•HR 1270 IH
ing the 10-year period beginning on the date of enactment 1
of this Act. 2
(b) E
XCEPTION.— 3
(1) I
N GENERAL.—The Secretary of the Treas-4
ury shall continue to produce one-cent and five-cent 5
coins as appropriate solely to meet the needs of nu-6
mismatic collectors of that denomination. 7
(2) S
ALE.—The coins produced under para-8
graph (1) shall be sold in accordance with other gen-9
eral provisions governing numismatic coins (as op-10
posed to circulating coins). 11
(3) N
ET RECEIPTS.—The net receipts from the 12
sale of one-cent and five-cent coins produced under 13
this subsection shall equal the total cost of produc-14
tion, including variable costs and the appropriate 15
share of fix costs of production, of the one-cent and 16
five-cent coins, respectively, as determined by the 17
Secretary of the Treasury. 18
(c) N
OEFFECT ON LEGALTENDER.—Notwith-19
standing any other provision of this section, one-cent and 20
five-cent coins are legal tender in the United States for 21
all debts, public and private, public charges, taxes, and 22
duties, regardless of the date of minting or issue. 23
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SEC. 2. GAO STUDY ON THE EFFECTS OF THE SUSPENSION 1
OF PRODUCTION OF THE PENNY AND NICK-2
EL. 3
Not later than 3 years after the date of enactment 4
of this Act, the Comptroller General of the United States, 5
in consultation with the Secretary of the Treasury, Direc-6
tor of the United States Mint, and the Commissioner of 7
the Internal Revenue Service, shall— 8
(1) study the effect of the suspension of produc-9
tion of the one-cent and five-cent coins under this 10
Act; and 11
(2) submit to the Committee on the Budget and 12
the Committee on Banking, Housing, and Urban Af-13
fairs of the Senate and the Committee on the Budg-14
et and the Committee on Financial Services of the 15
House of Representatives a report— 16
(A) on whether production should remain 17
suspended, be permanently ended, or be rein-18
stated; and 19
(B) that considers— 20
(i) the net savings from the suspen-21
sion of production of the one-cent and five- 22
cent coins; and 23
(ii) the effect of rounding cash pur-24
chases up or down to the nearest ten-cents. 25
Æ
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