[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1270 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 1270

   To suspend the production of the penny and nickel, to require the 
   Comptroller General of the United States to carry out a study on 
              pennies and nickels, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           February 12, 2025

Mr. Schweikert introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To suspend the production of the penny and nickel, to require the 
   Comptroller General of the United States to carry out a study on 
              pennies and nickels, and for other purposes.

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

SECTION 1. SAVING TAXPAYERS MONEY BY SUSPENDING PRODUCTION OF THE PENNY 
              AND NICKEL.

    (a) Temporary Suspension of Production.--Except as provided in 
subsection (b) and notwithstanding any other provision of law, the 
Secretary of the Treasury shall cease production of one-cent and five-
cent coins during the 10-year period beginning on the date of enactment 
of this Act.
    (b) Exception.--
            (1) In general.--The Secretary of the Treasury shall 
        continue to produce one-cent and five-cent coins as appropriate 
        solely to meet the needs of numismatic collectors of that 
        denomination.
            (2) Sale.--The coins produced under paragraph (1) shall be 
        sold in accordance with other general provisions governing 
        numismatic coins (as opposed to circulating coins).
            (3) Net receipts.--The net receipts from the sale of one-
        cent and five-cent coins produced under this subsection shall 
        equal the total cost of production, including variable costs 
        and the appropriate share of fix costs of production, of the 
        one-cent and five-cent coins, respectively, as determined by 
        the Secretary of the Treasury.
    (c) No Effect on Legal Tender.--Notwithstanding any other provision 
of this section, one-cent and five-cent coins are legal tender in the 
United States for all debts, public and private, public charges, taxes, 
and duties, regardless of the date of minting or issue.

SEC. 2. GAO STUDY ON THE EFFECTS OF THE SUSPENSION OF PRODUCTION OF THE 
              PENNY AND NICKEL.

    Not later than 3 years after the date of enactment of this Act, the 
Comptroller General of the United States, in consultation with the 
Secretary of the Treasury, Director of the United States Mint, and the 
Commissioner of the Internal Revenue Service, shall--
            (1) study the effect of the suspension of production of the 
        one-cent and five-cent coins under this Act; and
            (2) submit to the Committee on the Budget and the Committee 
        on Banking, Housing, and Urban Affairs of the Senate and the 
        Committee on the Budget and the Committee on Financial Services 
        of the House of Representatives a report--
                    (A) on whether production should remain suspended, 
                be permanently ended, or be reinstated; and
                    (B) that considers--
                            (i) the net savings from the suspension of 
                        production of the one-cent and five-cent coins; 
                        and
                            (ii) the effect of rounding cash purchases 
                        up or down to the nearest ten-cents.
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