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Coin Value Limit: Maximum Face Value Set at $200

This bill introduces a strict limit on the face value of all coins minted by the Treasury, setting the maximum value at $200. While this change does not affect daily transactions, its primary goal is to prevent the government from minting extremely high-value coins (like the theoretical trillion-dollar coin) to circumvent the debt ceiling. This restricts a specific fiscal tool available to the government during financial standoffs.
Key points
The maximum nominal or face value of any newly minted coin is limited to $200.
The Treasury is prohibited from depositing high-value coins (including platinum coins) at the Federal Reserve for the Treasury's account.
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Expired
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Additional Information
Print number: 118_S_627
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2023-03-02
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Cancel the Coin Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_627.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-02.

What are the main provisions?

Key points include:

  • The maximum nominal or face value of any newly minted coin is limited to $200.
  • The Treasury is prohibited from depositing high-value coins (including platinum coins) at the Federal Reserve for the Treasury's account.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Lee, Mike [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Economy