S.1986 - Coinage Materials Modernization Act of 2007110th Congress (2007-2008)
|Sponsor:||Sen. Allard, Wayne [R-CO] (Introduced 08/03/2007)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 08/03/2007 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.1986 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in Senate (08/03/2007)
Coinage Materials Modernization Act of 2007 - Removes restrictions on the weight of, and requirements concerning the metal in, the U.S. half dollar, quarter, dime, nickel, and penny.
Requires the Secretary of the Treasury to prescribe the weight and composition of the dollar, half dollar, quarter, dime, five-cent, and one-cent coins. (Currently, the Secretary is authorized to prescribe the weight and the composition of copper and zinc in the alloy of the penny in specified circumstances.)
Authorizes the Secretary to prescribe manufacturing tolerances for the nickel and penny.