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HR 1098 112th Congress House

Free Competition in Currency Act of 2011

Official title: To repeal the legal tender laws, to prohibit taxation on certain coins and bullion, and to repeal superfluous sections related to coinage.

Introduced: March 15, 2011 See on congress.gov
Finance and Financial Sector Criminal investigation, prosecution, interrogationCurrencyFraud offenses and financial crimesMetals
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Sales and excise taxesState and local taxation
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 6 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 13, 2011
Subcommittee Hearings Held.
Jun 1, 2011
Referred to the Subcommittee on Crime, Terrorism, and Homeland Security.
Apr 4, 2011
Referred to the Subcommittee on Domestic Monetary Policy and Technology.
Mar 15, 2011
Sponsor introductory remarks on measure. (CR E483-484)
Mar 15, 2011
Referred to the Committee on Financial Services, and in addition to the Committees on Ways and Means, and the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Mar 15, 2011
Introduced in House
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 Latest action September 13, 2011

Subcommittee Hearings Held.

 Plain-English summary Congressional Research Service

Free Competition in Currency Act of 2011- Repeals the federal law establishing U.S. coins, currency, and reserve notes as legal tender for all debts, public charges, taxes, and dues.

Prohibits any tax on any coin, medal, token, or gold, silver, platinum, palladium, or rhodium bullion issued by a state, the United States, a foreign government, or any other person. Prohibits states from assessing any tax or fee on any currency or other monetary instrument that is used in interstate or foreign commerce and that has legal tender status under the Constitution.

Repeals provisions of the federal criminal code relating to uttering coins of gold, silver, or other metal for use as current money and making or possessing likenesses of such coins. Abates any current prosecution under such provisions and nullifies any previous convictions.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 5
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APA
U.S. Congress. (2026). H.R. 1098: Free Competition in Currency Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-1098/
MLA
"H.R. 1098: Free Competition in Currency Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-1098/.
Bluebook (legal)
H.R. 1098, 112th Cong. (2026), https://openamerica.io/bill/112-HR-1098/.
Markdown link
[H.R. 1098: Free Competition in Currency Act of 2011](https://openamerica.io/bill/112-HR-1098/)
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