Annual Report to the Congress on the Presidential $1 Coin Program
- Slowing Growth of $1 Coin Inventories
- Future Reporting and Legislative Action
Future Reporting and Recommendation for Legislative Action
To ensure compliance with the Presidential $1 Coin Act, the Federal Reserve will continue to fulfill demand for $1 coins from depository institutions from existing inventory, while the United States Mint will meet collector demand for new designs through direct sales.
The Board proposes the elimination of the annual reporting requirement required by the Presidential $1 Coin Act, by striking section 5112(p)(3)(B) of title 31 of the United States Code. The Board believes the suspension of the minting of the Presidential $1 coin for circulation makes this report no longer necessary. Substantial developments to the $1 coin program are not likely, and information on inventory levels, and payments and receipts is available on the Board's public website at http://www.federalreserve.gov/paymentsystems/coin_data.htm and will be updated quarterly.