Cancel the Coin Act

II 117TH CONGRESS 1ST SESSION S. 185 To amend title 31, United States Code, to limit the face value of coins. 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. Be it enacted by the Senate and House of Representa- 1 tives of the United States of America in Congress assembled, 2 SECTION 1. SHORT TITLE. 3 This Act may be cited as the ‘‘Cancel the Coin Act’’. 4 SEC. 2. LIMITATION ON FACE VALUE OF COINS. 5 Section 5112 of title 31, United States Code, is 6 amended— 7 (1) in subsection (k)— 8 (A) by inserting ‘‘having such nominal, or 9 face, values as the Secretary may determine but 10 VerDate Sep 11 2014 23:06 Feb 14, 2021 Jkt 019200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S185.IS S185 pamtmann on DSKBC07HB2PROD with BILLS 2 •S 185 IS not in any case exceeding $200’’ after ‘‘plat- 1 inum coins’’; and 2 (B) by striking ‘‘denominations,’’; and 3 (2) by adding at the end the following new sub- 4 section: 5 ‘‘(w) LIMITATION ON FACE VALUE.—The Secretary 6 may not mint or issue any coin having a nominal, or face, 7 value exceeding $200.’’. 8 Æ VerDate Sep 11 2014 23:06 Feb 14, 2021 Jkt 019200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S185.IS S185 pamtmann on DSKBC07HB2PROD with BILLS