PlainBillCongress, translated.Legislation. Context. Public interest.Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Congressional Research Service
Version 00 · Introduced in Senate · Sep 23, 2011
Currency Efficiency Act of 2011 - Requires the Secretary of the Treasury to suspend issuance of presidential $1 coins during any period for which the Secretary determines that the surplus supply of $1 coins exceeds the reasonable circulation needs for one year.
Prohibits the minting or issuance of $1 coins during any period in which the number of such coins issued, but not in circulation, is more than 10 percent of the number of $1 coins in circulation.
Eliminates the requirement that institutions that want unmixed supplies of newly-issued designs of $1 coins be able to obtain such supplies.
Requires the Board of Governors of the Federal Reserve System to: (1) determine an inventory level of $1 coins required among member banks to meet reasonable circulation needs, and (2) adjust its inventories of such coins to that level through methods that minimize the need for further storage expenditures. Deems surpluses of coins that can be most efficiently eliminated through destruction to consist of "obsolete and worn coins withdrawn from circulation" for purposes of disposal requirements.
People & committees
Sen. Brown, Scott P. [R-MA] · R–MA
Legislative record
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Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Primary sources
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No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Aug 14, 2025. Consult Congress.gov for the current record.
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