3.0.0 1624 2023-01-11T13:22:15Z 2023-01-11T13:22:15Z Senate S S 2011-09-23 112 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2011-09-23T17:10:50Z 2011-09-23 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2011-09-23 Introduced in Senate IntroReferral 10000 9 Library of Congress B001268 Sen. Brown, Scott P. [R-MA] Scott Brown R MA P. N K000148 Sen. Kerry, John F. [D-MA] JOHN KERRY D MA FORBES 2011-09-23 True Finance and Financial Sector Currency Presidents and presidential powers, Vice Presidents U.S. history Finance and Financial Sector 00 2011-09-23 Introduced in Senate 2011-12-22T17:24:59Z Currency Efficiency Act of 2011 - Requires the Secretary of the Treasury to suspend issuance of presidential $1 coins during any period for which the Secretary determines that the surplus supply of $1 coins exceeds the reasonable circulation needs for one year.

Prohibits the minting or issuance of $1 coins during any period in which the number of such coins issued, but not in circulation, is more than 10 percent of the number of $1 coins in circulation.

Eliminates the requirement that institutions that want unmixed supplies of newly-issued designs of $1 coins be able to obtain such supplies.

Requires the Board of Governors of the Federal Reserve System to: (1) determine an inventory level of $1 coins required among member banks to meet reasonable circulation needs, and (2) adjust its inventories of such coins to that level through methods that minimize the need for further storage expenditures. Deems surpluses of coins that can be most efficiently eliminated through destruction to consist of "obsolete and worn coins withdrawn from circulation" for purposes of disposal requirements.

]]> Currency Efficiency Act of 2011 Display Title Currency Efficiency Act of 2011 Official Title as Introduced A bill to provide for the economical production of various United States coins. Introduced in Senate IS Short Titles as Introduced Currency Efficiency Act of 2011 Introduced in Senate 2011-09-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112s1624is/xml/BILLS-112s1624is.xml 2011-09-23 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.