I 

112TH CONGRESS 

1ST SESSION H. R. 3694 

To amend title 31, United States Code, to save the American taxpayers 

money by immediately altering the metallic composition of the 5-cent 

coin, to require a prompt review and report, with recommendations, 

for cost-saving changes in the metallic content of other circulating United 

States coins, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

DECEMBER 15, 2011 

Mr. STIVERS (for himself, Mr. RYAN of Ohio, and Mr. TIBERI) introduced the 

following bill; which was referred to the Committee on Financial Services 

A BILL 

To amend title 31, United States Code, to save the American 

taxpayers money by immediately altering the metallic 

composition of the 5-cent coin, to require a prompt review and report, with recommendations, for cost-saving 

changes in the metallic content of other circulating 

United States coins, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Saving Taxpayer Ex5 penditures by Employing Less Imported Nickel Act’’ or 

6 the ‘‘STEEL Nickel Act’’. 


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1 SEC. 2. REDUCING THE COST TO TAXPAYERS OF PRO2 DUCING THE NICKLE. 

3 (a) STEEL NICKELS REQUIRED.—Section 5112 of 

4 title 31, United States Code, is amended— 

5 (1) in subsection (b), by striking ‘‘The 5-cent 

6 coin is an alloy of 75 percent copper and 25 percent 

7 nickel. In minting 5-cent coins, the Secretary shall 

8 use bars that vary not more than 2.5 percent from 

9 the percent of nickel required.’’; and 

10 (2) by adding at the end the following new sub11 section: 

12 ‘‘(w) 5-CENT COIN.— 

13 ‘‘(1) IN GENERAL.—The 5-cent coin shall— 

14 ‘‘(A) be produced primarily of steel; and 

15 ‘‘(B) meet such other specifications as the 

16 Secretary may determine to be appropriate. 

17 ‘‘(2) TREATMENT.—The 5-cent coin shall be 

18 treated to impart a color to the appearance of the 

19 coins so that the appearance is similar to 5-cent 

20 coins produced before the date of the enactment of 

21 this subsection. 

22 ‘‘(3) BUY AMERICAN STEEL REQUIREMENT.— 

23 ‘‘(A) IN GENERAL.—Notwithstanding any 

24 other provision of law, the Secretary shall, in 

25 minting 5-cent coins, only use steel produced in 

26 the United States. 


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1 ‘‘(B) EXCEPTION.—Subparagraph (A) 

2 shall not apply if the Secretary finds, and pub3 lishes in the Federal Register the basis of such 

4 finding, that— 

5 ‘‘(i) applying subparagraph (A) would 

6 be inconsistent with the public interest; or 

7 ‘‘(ii) steel is not produced in the 

8 United States in sufficient and reasonably 

9 available quantities.’’. 

10 (b) CONVERSION TO NEW 5-CENT SPECIFICA11 TIONS.—In setting specifications under section 5112(w) of 

12 title 31, United States Code, as added by subsection (a), 

13 the Secretary shall not set specifications that would— 

14 (1) require more than 1 change to coin-accept15 ing and coin-handling equipment to accommodate 

16 coins produced pursuant to such subsection; 

17 (2) facilitate or allow the use of a coin with a 

18 lesser value produced by another country, or the use 

19 of any token or other easily or regularly produced 

20 metal device of minimal value, in the place of a cir21 culating coin produced by the Secretary; or 

22 (3) require changes to coin-accepting or coin23 handling equipment whatsoever to accommodate 

24 both coins produced with the new specifications 

25 under such subsection and coins produced on or beVerDate Mar 15 2010 23:33 Dec 20, 2011 Jkt 019200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\H3694.IH H3694

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1 fore the date that is the end of the 90-day period 

2 beginning on the date of the enactment of this Act. 

3 (c) EFFECTIVE DATE.—The amendment made by 

4 subsection (a) shall apply to all 5-cent coins issued after 

5 the end of the 90-day period beginning on the date of the 

6 enactment of this Act. 

7 SEC. 3. REDUCING THE COST TO TAXPAYERS OF PRO8 DUCING OTHER CIRCULATING COINS WITH9 OUT INTERFERING WITH THE WAY SUCH 

10 COINS ARE HANDLED BY BUSINESS, GOVERN11 MENT, AND CONSUMERS IN THE COURSE OF 

12 ORDINARY COMMERCE. 

13 Before the end of the 180-day period beginning at 

14 the end of the 90-day period referred to in section 2(b), 

15 the Secretary of the Treasury shall submit to the Com16 mittee on Financial Services of the House of Representa17 tives and the Committee on Banking, Housing, and Urban 

18 Affairs of the Senate the initial report described in section 

19 3 of the Coin Modernization, Oversight, and Continuity 

20 Act of 2010. 

Æ 


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