I 

112TH CONGRESS 

1ST SESSION H. R. 2789 

To amend title 31, United States Code, to suspend the issuance of $1 

coins for a 15-year period, or until excess stockpiles are exhausted, 

and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

AUGUST 1, 2011 

Mr. YODER introduced the following bill; which was referred to the Committee 

on Financial Services 

A BILL 

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

issuance of $1 coins for a 15-year period, or until excess 

stockpiles are exhausted, 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 ‘‘Prevention of Wasteful 

5 and Unneeded Coins Act of 2011’’. 

6 SEC. 2. FINDINGS. 

7 The Congress finds the following: 

8 (1) A substantially large surplus of $1 coins, 

9 both from the Presidential series and the Sacagawea 


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1 series, have accumulated in the vaults of the Federal 

2 Reserve System in excess of over a billion dollars. 

3 (2) The United States mint is statutorily re4 quired to continue to mint four new presidential 

5 coins each year until the program is complete with6 out consideration of excess waste or unnecessary 

7 surpluses. 

8 (3) The Secretary of the Treasury grossly over9 estimated the public support for $1 coins and there10 fore has allowed for the buildup of an unnecessary 

11 stockpile of $1 coins. 

12 (4) Minting of coins should be based on actual 

13 demand and not future estimates. 

14 (5) There needs to be a reduction in wasteful 

15 programs that are a drain on taxpayer dollars. 

16 SEC. 3. SUSPENSION OF ISSUANCE OF $1 COINS DUE TO EX17 CESS STOCKPILES. 

18 Section 5112(n) of title 31, United States Code, is 

19 amended by adding at the end the following new para20 graphs: 

21 ‘‘(10) SUSPENSION OF ISSUANCE OF $1 COINS

22 DUE TO EXCESS STOCKPILES.— 

23 ‘‘(A) IN GENERAL.—No coins shall be 

24 issued under this subsection or subsection (r) 

25 during the 15-year period beginning on the date 


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1 of the enactment of the Prevention of Wasteful 

2 and Unneeded Coins Act of 2011. 

3 ‘‘(B) EXCEPTION TO MEET DEMAND.—If, 

4 during any period within the 15-year period de5 scribed under subparagraph (A), the Secretary, 

6 in consultation with the Board of Governors of 

7 the Federal Reserve System, determines that 

8 the demand for $1 coins exceeds the amount of 

9 $1 coins held in reserve, the Secretary shall cer10 tify such fact to the Congress and may, during 

11 such period, resume the issuance of coins under 

12 this subsection and subsection (r). 

13 ‘‘(11) AVOIDANCE OF EXCESS STOCKPILES.— 

14 Notwithstanding any other provision of law, the Sec15 retary may not issue any $1 coins under this section 

16 if such issuance would result in an excess stockpile 

17 of $1 coins not in circulation.’’. 

18 SEC. 4. REMOVAL OF 20 PERCENT MINTING REQUIREMENT 

19 FOR SACAGAWEA-DESIGN COINS. 

20 Section 5112(r) of title 31, United States Code, is 

21 amended by striking paragraph (5). 

22 SEC. 5. REMOVAL OF UNMIXED SUPPLIES REQUIREMENT 

23 DURING INTRODUCTORY PERIOD. 

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

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


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1 that follows through ‘‘(ii) circulating coins’’ and inserting 

2 ‘‘ensuring that circulating coins’’. 

Æ 


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