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HR 1068 101th Congress House Finance and Financial Sector Anniversaries Coins and coinage Money

United States Coinage Reform Act of 1989

Introduced: February 22, 1989 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 1, 1989
Referred to the Subcommittee on Consumer Affairs and Coinage.
Feb 22, 1989
Referred to the House Committee on Banking, Finance + Urban Affrs.
Feb 22, 1989
Introduced in House
 Plain-English summary Congressional Research Service

United States Coinage Reform Act of 1989 - Requires that one dollar coins be gold colored, be at least 90 percent copper, and be fabricated in the United States from natural deposits located in the United States.

Redesigns the obverse side of the dollar coin to symbolize the 500th anniversary of the discovery of the New World by Christopher Columbus.

Requires the Secretary of the Treasury to place such coins into circulation within 18 months and to cease production of one dollar notes, except as required from time to time to satisfy the needs of collectors, within 18 months after the first of such coins are placed in circulation.

Directs the Secretary to conduct a study and report to the Congress on the advisability of phasing out production of the one-cent and 50-cent coins and of rounding cash sales to the nearest five cents.

Requires that the seigniorage from the production of such dollar coins be used to offset the reverse seigniorage resulting from the destruction of Susan B. Anthony dollar coins.

What's happening now March 1, 1989

Referred to the Subcommittee on Consumer Affairs and Coinage.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 3