I 

112TH CONGRESS 

1ST SESSION H. R. 2760 

To amend title 31, United States Code, to improve the minting and issuing 

of coins, to reduce the current excess stockpile of $1 coins, and for 

other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

AUGUST 1, 2011 

Mrs. MALONEY introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To amend title 31, United States Code, to improve the 

minting and issuing of coins, to reduce the current excess 

stockpile of $1 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 ‘‘Presidential Dollar 

5 Coin Efficiency Act of 2011’’. 


jbell on DSKDVH8Z91PROD with BILLS
2 

•HR 2760 IH

1 SEC. 2. REMOVAL OF THE REQUIREMENT TO PROVIDE 

2 UNMIXED SUPPLIES DURING THE INTRODUC3 TORY PERIOD. 

4 Section 5112(p)(3)(D) of title 31, United States 

5 Code, is amended by striking ‘‘ensuring that’’ and all that 

6 follows through ‘‘circulating coins’’ and inserting ‘‘ensur7 ing that circulating coins’’. 

8 SEC. 3. LIMITATION ON NUMBER OF PRESIDENTIAL $1 

9 COINS PRODUCED IN A YEAR. 

10 Section 5112(n)(4)(B) of chapter 51 of title 31, 

11 United States Code, is amended— 

12 (1) by adding before the period the following: ‘‘, 

13 except that the aggregate number of such coins pro14 duced for a year may not exceed the aggregate num15 ber of coins produced pursuant to this subsection for 

16 the previous year’’; and 

17 (2) by adding at the end the following: ‘‘Not18 withstanding the previous sentence, if the Secretary 

19 determines that the demand for a particular design 

20 during a year will exceed the amount of coins able 

21 to be produced under the limitation in the previous 

22 sentence, the Secretary may waive such limitation 

23 with respect to such design.’’. 

24 SEC. 4. PUBLICITY OF PRESIDENTIAL $1 COINS. 

25 Section 5112(p)(2) of title 31, United States Code, 

26 is amended by striking ‘‘shall’’ and inserting ‘‘may’’. 


jbell on DSKDVH8Z91PROD with BILLS
3 

•HR 2760 IH

1 SEC. 5. REDUCTION IN EXCESS STOCKPILES OF $1 COINS. 

2 The Secretary of the Treasury, in consultation with 

3 the Board of Governors of the Federal Reserve System, 

4 shall reduce the number of $1 coins minted and issued 

5 by the Secretary under subsections (n) and (r) of section 

6 5112 of title 31, United States Code, until such time as 

7 the excess stockpiles of $1 coins have been eliminated. 

8 SEC. 6. REPORTS. 

9 (a) ANNUAL REPORT ON STEPS TAKEN TO REDUCE

10 STOCKPILES.—Section 5112(p)(3)(B) of title 31, United 

11 States Code, is amended— 

12 (1) by striking ‘‘annual report’’ and inserting 

13 ‘‘annual joint report’’; 

14 (2) by redesignating clauses (ii) and (iii) as 

15 clauses (iii) and (iv), respectively; and 

16 (3) by inserting after clause (i) the following 

17 new clause: 

18 ‘‘(ii) steps taken to reduce excess 

19 stockpiles of $1 coins;’’. 

20 (b) COIN PRODUCTION COSTS AND CONTENT.—The 

21 Secretary of the Treasury shall issue the initial report re22 quired under section 3(a) of the Coin Modernization, 

23 Oversight, and Continuity Act of 2010 by March 31, 2012, 

24 or, if the Secretary determines that such report is not 

25 ready by that date, the Secretary shall issue an interim 

26 report to the Committee on Financial Services of the 


jbell on DSKDVH8Z91PROD with BILLS
4 

•HR 2760 IH

1 House of Representatives and the Committee on Banking, 

2 Housing, and Urban Affairs of the Senate containing such 

3 information, determinations, and recommendations as the 

4 Secretary has at that time. 

5 (c) TESTIMONY REQUIRED.—Section 3(a) of the Coin 

6 Modernization, Oversight, and Continuity Act of 2010 is 

7 amended by adding at the end the following: ‘‘Each time 

8 such report is made, the Secretary of the Treasury, or his 

9 designee, shall testify to the Committee on Financial Serv10 ices of the House of Representatives and the Committee 

11 on Banking, Housing, and Urban Affairs of the Senate 

12 on the contents of the report.’’. 

Æ 


jbell on DSKDVH8Z91PROD with BILLS