[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 627 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                 S. 627

   To amend title 31, United States Code, to limit the face value of 
                                 coins.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 2, 2023

    Mr. Lee introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
   To amend title 31, United States Code, to limit the face value of 
                                 coins.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Cancel the Coin Act''.

SEC. 2. LIMITATION ON FACE VALUE OF COINS.

    Section 5112 of title 31, United States Code, is amended--
            (1) in subsection (k)--
                    (A) by inserting ``having such nominal, or face, 
                values as the Secretary may determine subject to 
                subsection (bb)'' after ``platinum coins'';
                    (B) by striking ``denominations,''; and
                    (C) by adding at the end the following: ``The 
                Secretary shall not deposit, and the Board of Governors 
                and Federal Reserve Banks shall not accept as deposit, 
                any coin issued under this subsection at a Federal 
                Reserve Bank for the account of the Treasury.''; and
            (2) by adding at the end the following:
    ``(bb) Limitation on Face Value.--The Secretary may not mint or 
issue any coin having a nominal, or face, value greater than $200.''.
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