Coin Modernization and Taxpayer Savings Act of 2008

[AI summary unavailable — showing source text] Coin Modernization and Taxpayer Savings Act of 2008 - Revises the discretionary authority of the Secretary of the Treasury to prescribe the weight and the composition of the alloy in the one-cent coin. Extends such authority to, and requires the Secretary to prescribe the weight and composition of, the dollar, half-dollar, quarter-dollar, dime, and five-cent coin, as well as the one-cent coin. Requires the coins to be coined, minted, and their materials fabricated in the United States. Requires the Secretary to enter into a formal rulemaking process when making any determination with respect to any change in the weight and composition of any coin. Repeals current weight requirements for the half-dollar, quarter-dollar, dime, five-cent coin, and the one-cent coin. Specifies the characteristics of $1 coins and gold coins. Authorizes the Secretary to prescribe manufacturing tolerances for five-cent and one-cent coins. Requires, for a specified period, the one-cent coin (except for Lincoln Bicentennial Numismatic Pennies) to be produced primarily of steel and treated to impart a copper color to its appearance similar to one-cent coins produced of a copper-zinc alloy.…