H.R. 4036 · 110th Congress
Cents and Sensibility Act
- Stage
- In committee
- Sponsor
- Peter Roskam
- Introduced
- 2007-10-31
- Latest action
- 2008-03-25 · Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology.
Summary
Cents and Sensibility Act - Revises the discretionary authority of the Secretary of the Treasury to prescribe the weight and the composition of the alloy of the one-cent coin.
Requires that the one-cent coin be: (1) produced primarily of steel; and (2) treated to impart a copper color to its appearance so that the appearance is similar to one-cent coins produced of a copper-zinc alloy.
Exempts from such requirement certain Lincoln Bicentennial numismatic pennies.
Requires the Secretary of the Treasury to report to certain congressional committees on a unified plan to change the metallic content of the five-cent, ten-cent, quarter-dollar and half-dollar circulating coins so as to return the ratios between the unit cost to produce such coins and their face value to a point where it is as close as possible to the historic production-cost-to-face-value ratios achieved in the 1980s.