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HR 2977 112th Congress House

Currency Optimization, Innovation, and National Savings Act

Official title: To improve the circulation of $1 coins, to remove barrier to the circulation of such coins, and for other purposes.

Introduced: October 14, 2011 Introduced by: Schweikert, David Republican · Arizona See on congress.gov
Finance and Financial Sector Congressional oversightCurrencyGeneral Native American affairs mattersGovernment information and archives
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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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 4, 2011
Referred to the Subcommittee on Domestic Monetary Policy and Technology.
Sep 20, 2011
Referred to the House Committee on Financial Services.
Sep 20, 2011
Introduced in House
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 Latest action October 4, 2011

Referred to the Subcommittee on Domestic Monetary Policy and Technology.

 Plain-English summary Congressional Research Service

Currency Optimization, Innovation, and National Savings Act - Requires the Board of Governors of the Federal Reserve System (Federal Reserve Board) to sequester all $1 coins bearing the design common to those $1 coins minted and issued from 1979-1981 and again in 1999.

Allows the release of such sequestered coins to collectible coin dealers and countries that have adopted the U.S. dollar as their base unit of exchange.

Directs the Federal Reserve Board to: (1) undertake efforts to improve, and remove barriers to, the circulation of the all other $1 coins; and (2) work with the U.S. Mint, consumer groups, media outlets, and schools to publicize the Presidential $1 Coin Program.

Declares it U.S. policy that after consumers and retailers are comfortable using and able to obtain adequate supplies of $1 coins, such $1 coins should replace $1 Federal Reserve notes as the only $1 monetary unit issued and circulated by the Federal Reserve System.

 Related & companion bills 1
  • S 2049 Related bill Currency Optimization, Innovation, and National Savings Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 10
All 10 Democratic 2 Republican 1
BRADY, ROBERT
· Apr 18, 2012
 D
Meeks, Gregory W.
New York · Apr 16, 2012
McCotter, Thaddeus
· Dec 16, 2011
BOSWELL, LEONARD
· Nov 30, 2011
Franks, Trent
· Nov 1, 2011
 D
Tonko, Paul
New York · Oct 14, 2011
 R
Calvert, Ken
California · Oct 6, 2011
Renacci, James
· Sep 23, 2011
TIBERI, PATRICK
· Sep 23, 2011
Hensarling, Jeb
· Sep 20, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2977: Currency Optimization, Innovation, and National Savings Act. 112th Congress. Open America. https://openamerica.io/bill/112-HR-2977/
MLA
"H.R. 2977: Currency Optimization, Innovation, and National Savings Act." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-2977/.
Bluebook (legal)
H.R. 2977, 112th Cong. (2026), https://openamerica.io/bill/112-HR-2977/.
Markdown link
[H.R. 2977: Currency Optimization, Innovation, and National Savings Act](https://openamerica.io/bill/112-HR-2977/)
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