1. Short title
This Act may be cited as the “Currency Evolution Now To Save Act” or the “CENTS Act”.
Currency Evolution Now To Save Act
A BILL
To amend title 31, United States Code, to permit the Secretary of the Treasury to determine the metal composition of certain coins, and for other purposes.
2. Metal composition of certain coins
Section 5112(b) of title 31, United States Code, is amended—
by inserting “(1)” after “(b)”; and
by adding at the end the following:
“(2) Notwithstanding paragraph (1), the Secretary may prescribe a composition of materials in, and a construction of, the half dollar, quarter dollar, dime, or 5-cent coin that varies from the composition and construction required under that paragraph with respect to the coin (including by using different metals in the alloy for the coin than those required under that paragraph) if that action by the Secretary—
“(A) reduces the overall cost of minting the coin; and
“(B) does not affect—
“(i) the diameter and weight of the coin specified under subsection (a); or
“(ii) the functionality of the coin, including the electromagnetic signature with respect to the acceptance of the coin.”