Bill > HR1270

This bill proposes to suspend the production of pennies (one-cent coins) and nickels (five-cent coins) for a 10-year period, with a few key exceptions. The Secretary of the Treasury would be required to halt regular production of these coins, except for limited minting to meet the needs of coin collectors. These collector coins would be sold at a price that covers their full production costs. Importantly, the bill clarifies that existing one-cent and five-cent coins remain legal tender for all financial transactions, regardless of when they were minted. Additionally, the bill mandates that the Comptroller General (head of the Government Accountability Office or GAO) conduct a comprehensive study within three years to evaluate the effects of suspending coin production. This study would examine potential cost savings, the impact of rounding cash purchases to the nearest ten cents, and recommend whether the production suspension should continue, be made permanent, or be reversed. The study's findings would be reported to specific congressional committees, including the Senate and House Budget and Banking committees.

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https://www.congress.gov/bill/119th-congress/house-bill/1270/all-info