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fiatboy
Administrator
912 Posts |
 Posted - 02/12/2008 : 23:13:44
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I was reading H.R. 4036, the Cents and Sensibility Act---yes, I read stuff like this for fun---and it has the usual mention of pennies and nickels, but I also came across some language about halves, quarters, and dimes. I was wondering what everyone's take on this is.
The entire bill itself probably deserves its own thread for discussion, but here I'm curious about the larger coins:
quote:
(a) Report Required- Before the end of the 60-day period beginning at the end of the 90-day period referred to in section 3(b), the Secretary of the Treasury shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate describing a unified plan developed by the Secretary to change the metallic content of the 5-cent, 10-cent, quarter-dollar and half-dollar circulating coins produced by the Secretary in such a way as to return the ratios between the unit cost to produce such coins and the face value of such coins to a point where it is as close as possible to the historic production cost to face value ratios achieved in the 1980s.
quote:
(g) Annual Review and Update- At 1-year intervals following the submission of a report under subsection (a), the Secretary shall submit a report to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate reviewing the metallic content of the 1-cent, 5-cent, 10-cent, quarter-dollar and half-dollar circulating coins produced by the Secretary. Each such report shall comply with the requirements of this section for reports submitted under subsection (a).
quote:
The Secretary of the Treasury may, to accomplish the goals of this Act, and consistent with the Secretary's development of the metallic content of the currently produced 1-dollar coin and the currently produced 5-cent, 10-cent, quarter-dollar and half-dollar coins, solicit input from within or without the Federal Government, including research facilities or the 2 current suppliers of the raw material for volume production of circulating coins with such new metallic content, and conduct any appropriate testing within or without the Department of the Treasury, consistent with all other applicable Federal laws on the procurement, or potential procurement of materials necessary for the performance of the duties of the Secretary.
What do the good people of realcent make of this language? Are composition changes coming for all the current U.S. coins?
The full text of the bill can be read here: You must be logged in to see this link.
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"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Something I noticed in H.R. 4036
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