Congressional Action

LEGISLATIVE TIMELINE

2011 to Present

  • November 29, 2012: Statement by Mark Weller on the "Future of Money: Dollars and Sense" before the House Finacial Services Subcommittee on Domestic Monetary Policy and Technology
  • April 17, 2012: House Financial Services Subcommittee on Domestic Monetary Policy and Technology hearing on the "The Future of Money: Coin Production." Rodney Bosco of Navigant Consulting testifies on the impact of government savings if penny production ceases (Rodney Boscoe Testimony).

2006 to 2010

  • September 22, 2010, Congressman Mel Watt (D-NC) introduces the "Coin Modernization, Oversight & Continuity Act of 2010, requiring a Treasury report on possible new metallic coin materials. Became Public Law 111-302.
  • July 20, 2010: House Financial Services Subcommittee on Domestic Monetary Policy and Technology hearing on "The State of U.S. Coins and Currency"
  • May 8, 2008: House Passes legislation requiring the one-cent and five-cent coins to be produced primarily of steel; Treasury report on possible new metallic materials (H.R. 5512) the "Coin Modernization and Taxpayer Savings Act of 2008." No Senate action taken.
  • November 1, 2007: Congressman Roskam (R-IL) introduces the "Cents and Sensibility Act ," legislation to alter the metallic composition of the one-cent coin to copper plated steel.
  • October 31, 2007: Anticipating a House Financial Services Committee mark-up, Congressman Lucas (R-OK) files an amendment to end penny production.
  • October 31, 2007: House Financial Services Committee mark-up of H.R. 3956 postponed due to concerns about reversal of the melting ban and the shift of authority to the Mint from Congress for determining coin content. Instead of a bill mark-up, a hearing is scheduled for November.
  • October 24, 2007: Congressman Space introduces H.R. 3956 , the "Coinage Efficiency Act of 2007," that combines his bill to overturn the ban on melting coins (H.R. 3917) and the Gutierrez-Frank metal content bill (H.R. 3330).
  • October 22, 2007: Congressman Space (D-OH) introduces H.R. 3917 to overturn the Mint ban on melting one-cent and five-cent coins.
  • August 3, 2007: At the request of the Mint, Senator Allard (R-CO) introduces S. 1986 , the Coin Materials Modernization Act of 2007, Senate companion legislation to give the Mint authority to update the metallic content of coins.
  • August 3, 2007: At the request of the Mint, Congressmen Gutierrez (D-IL) and Frank (D-MA) introduce H.R. 3330 , the "Coin Materials Modernization Act of 2007," legislation to give the Mint authority update the metallic content of coins.
  • December 2006: Mint regulation prohibits melting of coins.
  • July 17, 2006, Congressman Jim Kolbe (R-AZ) introduces the "Currency Overhaul for an Industrious Nation (COIN) Act," (H.R.5818) to require the rounding of cash transactions to the nearest 5 cents.

2001 to 2005

  • December 22, 2005, President Bush signs the "Presidential $1 Coin Act of 2005;" Title III honors the 200th anniversary of Lincoln's birth with four new penny designs. The designs depict different aspects of our 16th President's life on the reverse or "tails" side of the coin.
  • July 17, 2001, Congressman Jim Kolbe (R-AZ) introduces the Legal Tender Modernization Act of 2001 (H.R. 2528), requires production of a two-dollar note and rounding of cash transactions to the nearest nickel.

1989 to 2000

  • November 20, 1989, Congressman Jim Kolbe (R-AZ) introduces the Price Rounding Act of 1989 (H.R. 3761) to eliminate the penny in cash transactions and require rounding of prices to the nearest five cents.
  • June 20, 1989, Senate Banking Committee hearing on S. 814. Penn State economist Raymond Lombra testifies on the economic impact of penny elimination.
  • April 17, 1989, Senator Pete Domenici (R-NM) introduces the "United States Coinage Reform Act of 1989," (S. 814) to place into circulation $1 coins and conduct a study of phasing out production of one-cent and five-cent coins.
  • February 22, 1989, Congressman Jim Kolbe (R-AZ) introduces the "United States Coinage Reform Act of 1989," (H.R. 1068) that requires a $1 coin of an least 90% copper and a study of phasing out the one-cent and 50-cent coins.

Additional Links

2001 Open letter in opposition to the Kolbe bill (HR 2528) --  Eliminating the Penny: Pound Foolish!

 

 

President's Day - A Time to Celebrate Abraham Lincoln and Cheaper Pennies

President's Day gives us the chance - at least once a year - to recognize Abraham Lincoln's immense contributions to the country and a legacy that continues to enrich us daily.


President Lincoln is a unique cultural and historical figure," said Mark Weller, Executive Director of Americans for Common Cents. "It's not just that the front of the penny has had Lincoln's image since 1909, it's what Lincoln did for our nation," Weller added "He possessed all the qualities we want in a president -- the ability to unite a divided nation, honesty, strength, and humility," Weller concluded.


For the full press release, please click here

 

Special Announcement!

Pennies for Pasta and Pennies for Patients

These are run by The Leukemia and Lymphoma Society through its local chapters as part of its renamed Student Series program:  www.studentseries.org

For more information, you should call your local Chapter which may be found by going to the Society's website at: www.lls.org

Please note Americans for Common Cents does not get actively engaged in any fundraising activities.

Collapse of the zinc market means the penny is cheaper to make; saves taxpayers!

A collapse in metals prices means U.S. coins, including the penny, are less expensive to make. The penny has reached its lowest cost in seven years. Each 1-cent coin, made almost entirely of zinc, now costs the taxpayer much less to produce and its likely to stay that way for the foreseeable future.

Click here to read more.

More than Two-Thirds of Americans Still Favor Keeping the Penny

Recent Poll Shows Increasing Penny Support and Concern About Price Increases If Penny Is Eliminated

WASHINGTON--(BUSINESS WIRE)--A poll released today by Americans for Common Cents (ACC) continues to show overwhelming and increasing support for the penny by the American public. 68% of those surveyed favor keeping the penny in circulation, representing a slight increase since the last poll in 2012.

"These results confirm the strong and unwavering support the penny continues to receive from Americans," said Mark Weller, Executive Director of ACC. Weller's group includes more than 50 organizations that support continued production of the penny.

For the full article, please click here

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