Cancel the Coin Act

Bill: 117-s-185
Sponsor: full_name: Sen. Lee, Mike [R-UT]
Introduced: 2021-02-02
Policy area: Finance and Financial Sector
Subjects: Currency
Latest action: action_date: 2021-02-02
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Summaries:
action_date: 2021-02-02
action_desc: Introduced in Senate
text: <p><b>Cancel the Coin Act</b></p> <p>This bill prohibits the Department of the Treasury from minting or issuing any coin, including platinum bullion coins and proof platinum coins, having a nominal or face value exceeding $200.</p>

tv_txt: II 117th CONGRESS 1st Session S. 185 IN THE SENATE OF THE UNITED STATES February 2, 2021 Mr. Lee introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs A BILL To amend title 31, United States Code, to limit the face value of coins.

1. Short title This Act may be cited as the Cancel the Coin Act . 2. Limitation on face value of coins Section 5112 of title 31, United States Code, is amended— (1) in subsection (k)— (A) by inserting having such nominal, or face, values as the Secretary may determine but not in any case exceeding $200 after platinum coins ; and (B) by striking denominations, ; and (2) by adding at the end the following new subsection: (w) Limitation on face value The Secretary may not mint or issue any coin having a nominal, or face, value exceeding $200. .