The bill would stop production of new one-cent coins for 10 years. It allows coins to be made for collectors, with sales covering production costs. Existing pennies would remain legal tender for all debts, taxes, and other charges.
You could continue to use one-cent coins, regardless of when they were made. The bill does not change their status as legal tender.
The bill states that collector coins must be sold for enough to cover production costs, including variable costs and an appropriate share of fixed costs. No publicly available information gives a total estimate of savings or other expenses.
The bill's stated rationale is that enough one-cent coins have already been made to meet demand, producing them costs taxpayers money, and more production is not needed for the next decade.
No publicly available information.