“To amend title 31 to permit an alternative composition of the 5-cent coin and to eliminate the one-cent coin, and for other purposes.”
No CRS summary available for this bill.
This section revises specifications for 5-cent coins and eliminates production of one-cent coins under 31 U.S.C. §5112. Specifically, it (1) authorizes an alternative 5-cent coin with a zinc inner layer and nickel outer layer—weighing between 4 and 6 grams (from 5 grams fixed)—with composition prescribed by the Secretary of the Treasury to reduce production costs following testing and evaluation; and (2) directs the Secretary to cease production of one-cent coins for circulation (from ongoing production), while allowing continued production for numismatic sales and preserving legal tender status for all previously minted one-cent coins. (Thus, the change enables lower-cost "nickels" akin to current copper-plated zinc pennies, and ends penny minting for everyday use to curb production losses.)