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H.R. 3330, The Coinage Materials Modernization Act of 2007
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
Version saved on October 25, 2007, 18:38:12, by webmaster:
H.R. 3330 would authorize the Secretary of the Treasury to prescribe the weights and the compositions of circulating coins.
Detailed Summary
Coinage Materials Modernization Act of 2007 - Requires the Secretary of the Treasury to prescribe the weight and composition of the U.S. dollar, half dollar, quarter dollar, dime, five-cent, and one-cent coins. (Currently, the Secretary is authorized to prescribe the weight and the composition of copper and zinc in the alloy of the penny in specified circumstances.)
Removes restrictions on the weight of, and requirements concerning the metal in, the half dollar, quarter, dime, nickel, and penny.
Authorizes the Secretary to prescribe manufacturing tolerances for the nickel and penny.
Status of the Legislation
Latest Major Action: 9/5/2007: Referred to House subcommittee. Status: Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Points in Favor
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Points Against
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From the Blog
Should We Make Cents?
60 Minutes re-ran a piece tonight on whether the U.S. Mint should make pennies and nickels. The two coins currently cost more to produce than they’re worth. As you might expect, bills are pending in Congress to address the country’s coin...