Section 1 Short title
This Act may be cited as the “Cancel the Coin Act”.
Cancel the Coin Act
A BILL
To amend title 31, United States Code, to limit the face value of coins.
Sec. 2 Limitation on face value of coins
Section 5112 of title 31, United States Code, is amended—
in subsection (k)—
by inserting “having such nominal, or face, values as the Secretary may determine subject to subsection (bb)” after “platinum coins”;
by striking “denominations,”; and
by adding at the end the following: “The Secretary shall not deposit, and the Board of Governors and Federal Reserve Banks shall not accept as deposit, any coin issued under this subsection at a Federal Reserve Bank for the account of the Treasury.”; and
by adding at the end the following:
“(bb) Limitation on face value—The Secretary may not mint or issue any coin having a nominal, or face, value greater than $200.”