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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.

USA119th CongressHR-1270| House 
| Updated: 2/12/2025
David Schweikert

David Schweikert

Republican Representative

Arizona

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill proposes to suspend the production of one-cent and five-cent coins for a 10-year period, aiming to save taxpayer money. An exception allows for the continued production of these coins solely for numismatic collectors , with sales designed to cover all production costs. Crucially, the bill clarifies that all existing one-cent and five-cent coins will remain legal tender for all debts and public charges, ensuring their continued usability in circulation. Furthermore, the legislation mandates that the Comptroller General of the United States conduct a comprehensive study within three years of enactment. This study will assess the effects of the production suspension, considering factors such as net savings and the impact of rounding cash purchases to the nearest ten cents. The Comptroller General's report will ultimately recommend whether the production of pennies and nickels should remain suspended, be permanently ended, or be reinstated based on the study's findings.
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Timeline
Feb 12, 2025
Introduced in House
Feb 12, 2025
Referred to the House Committee on Financial Services.
  • February 12, 2025
    Introduced in House


  • February 12, 2025
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

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.

USA119th CongressHR-1270| House 
| Updated: 2/12/2025
This bill proposes to suspend the production of one-cent and five-cent coins for a 10-year period, aiming to save taxpayer money. An exception allows for the continued production of these coins solely for numismatic collectors , with sales designed to cover all production costs. Crucially, the bill clarifies that all existing one-cent and five-cent coins will remain legal tender for all debts and public charges, ensuring their continued usability in circulation. Furthermore, the legislation mandates that the Comptroller General of the United States conduct a comprehensive study within three years of enactment. This study will assess the effects of the production suspension, considering factors such as net savings and the impact of rounding cash purchases to the nearest ten cents. The Comptroller General's report will ultimately recommend whether the production of pennies and nickels should remain suspended, be permanently ended, or be reinstated based on the study's findings.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Feb 12, 2025
Introduced in House
Feb 12, 2025
Referred to the House Committee on Financial Services.
  • February 12, 2025
    Introduced in House


  • February 12, 2025
    Referred to the House Committee on Financial Services.
David Schweikert

David Schweikert

Republican Representative

Arizona

Financial Services Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted