PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the House Committee on Financial Services.
Congressional Research Service
No official summary is available in the imported record yet.
People & committees
Rep. Schweikert, David [R-AZ-1] · R–AZ
Legislative record
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Referred to the House Committee on Financial Services.
Introduced in House
Introduced in House
Primary sources
Text links open the official source. We also preserved the text version used in the PlainBill explanation below.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jun 25, 2025. Consult Congress.gov for the current record.
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PlainBill explanation
Based on the full Introduced in House · 2025-02-12 text. This explanation has not received human editorial review. This overview describes the proposal’s major provisions; it does not establish what its real-world effects would be.
This bill would stop production of pennies and nickels for 10 years, except for coins made for collectors. Existing and newly issued pennies and nickels would remain legal tender for paying debts, taxes and other listed obligations. It would also require a study of the suspension and whether production should resume, remain suspended or end permanently.
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.
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.
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.
(1) study the effect of the suspension of production of the one-cent and five-cent coins under this Act;
on whether production should remain suspended, be permanently ended, or be reinstated
The Treasury Secretary would have to stop penny and nickel production for a 10-year period starting on enactment, subject to the collector exception. This production requirement would override conflicting law; the specified suspension would last 10 years rather than permanently end 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.
Treasury would continue making pennies and nickels as appropriate solely for coin collectors. Those coins would be sold under the general rules for collector coins, rather than coins made for everyday circulation.
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.
The coins produced under paragraph (1) shall be sold in accordance with other general provisions governing numismatic coins (as opposed to circulating coins).
Net receipts from collector-coin sales would have to equal the total production cost for each denomination, as determined by the Treasury Secretary. That calculation would include costs that vary with production and an appropriate share of fixed production costs.
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.
Pennies and nickels would retain their status as legal tender for public and private debts, public charges, taxes and duties, regardless of when they were minted or issued.
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.
Within three years after enactment, the Comptroller General would have to study the suspension and submit a report. The work would require consultation with the Treasury Secretary, the United States Mint Director and the Internal Revenue Service Commissioner. The report would go to both chambers' Budget Committees, the Senate Banking, Housing, and Urban Affairs Committee and the House Financial Services Committee.
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;
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
The report would address whether production should stay suspended, end permanently or resume. It would consider net savings and the effects of rounding cash purchases up or down to the nearest ten cents. This is a reporting requirement, not a requirement to round purchases.
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.
The supplied actions snapshot, updated June 25, 2025, records introduction in the House and referral to the House Committee on Financial Services on February 12, 2025.
Source snapshot updated 2025-06-25T16:27:14Z. 2025-02-12: Referred to the House Committee on Financial Services. 2025-02-12: Introduced in House
A closer look
Reviewed version: Introduced in House · 2025-02-12. These findings describe provisions and who may benefit; they are not judgments of waste, corruption, or motive.
This review covers the supplied bill text. “None identified” does not rule out provisions in later versions or accompanying reports and disclosures.
Provisions outside the bill’s main subject, or policy changes attached to appropriations.
None identified in the reviewed text
No unrelated provision was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Spending directed to particular recipients or places outside ordinary competitive or formula-based allocation.
None identified in the reviewed text
No congressionally directed spending for particular recipients or places was identified in the complete supplied introduced text. This conclusion is limited to that version and does not establish absence in other versions or accompanying materials.
Narrow exceptions, exemptions, or preferential treatment that warrant a closer look.
Findings to examine
A targeted exception is identified below. Classification does not imply improper purpose.
Coin collectors would receive a specific exception: Treasury would continue penny and nickel production solely to meet their needs while other production is suspended. The exception is directly related to the bill's main policy, and net sales receipts would have to equal production costs for each denomination.
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.
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.
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.
Full text preserved for this analysis. Legislative record snapshot: Jun 25, 2025. How PlainBill uses AI