Study and Report

(a) Study The Secretary of the Treasury, acting through the Director of the United States Mint shall conduct a comprehensive study to evaluate the feasibility, practicality, and potential public benefits of minting and issuing a $2.50 coin for wide circulation in the United States. (b) Report The Secretary of the Treasury, acting through the Director of the United States Mint shall, not later than September 15, 2026, 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 about the study carried out under subsection (a) that includes— (1) an analysis of the historical use of the $2.50 denomination; (2) projected production costs associated with minting and issuing a $2.50 coin for wide circulation; (3) the cost-effectiveness of minting and issuing a $2.50 coin for wide circulation when compared to the costs associated with minting and issuing other coins; (4) an evaluation of potential benefits to commerce, coin handling, and transaction efficiency that would be associated with the minting and issuing a $2.50 coin for wide circulation; (5) proposed physical characteristics of a $2.50 coin, including— (A) composition; (B) weight; (C) diameter; and (D) design features to distinguish the $2.50 coin from existing coins; (6) a description of the ways in which the Secretary consulted with stakeholders, including commercial banks, cash-handling businesses, consumer groups, and vending and transit industries; (7) an analysis that estimates the potential seigniorage associated with a widely circulated $2.50 coin; and (8) a plan that could be followed to mint and issue a $2.50 coin that includes— (A) coordination with the Federal Reserve System and financial institutions; (B) a test production phase; and (C) an initial phased circulation.