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HR 2789 112th Congress House Finance and Financial Sector Currency Federal-Indian relations Presidential administrations

Prevention of Wasteful and Unneeded Coins Act of 2011

Introduced: August 1, 2011 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
Aug 22, 2011
Referred to the Subcommittee on Domestic Monetary Policy and Technology.
Aug 1, 2011
Referred to the House Committee on Financial Services.
Aug 1, 2011
Introduced in House
 Plain-English summary Congressional Research Service

Prevention of Wasteful and Unneeded Coins Act of 2011 - Amends federal law governing coins and currency to prohibit, for a 15-year period, the issuance of $1 dollar coins honoring each of the Presidents of the United States.

Authorizes the Secretary of the Treasury to resume issuance of such coins if the demand for $1 coins exceeds the number of them held in reserve.

Prohibits the Secretary from issuing any $1 coins if it would result in an excess stockpile of $1 coins not in circulation.

Repeals the requirement that the number of $1 coins minted and issued in a year with the Sacagawea design on the obverse be at least 20% of the total of such coins.

Repeals the requirement that, during an introductory period, all institutions that want to are able to obtain unmixed supplies of each newly-issued design of $1 coins minted under the President $1 and the First Spouse bullion coin programs.

What's happening now August 22, 2011

Referred to the Subcommittee on Domestic Monetary Policy and Technology.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1