To suspend the production of the penny and nickel, to require the Comptroller General of the United States to carry out a study on pennies and nickels, and for other purposes.

HR 1270 suspends the U.S. Treasury's production of pennies and nickels for 10 years, except for limited sales to coin collectors at cost to cover production expenses. It requires the Government Accountability Office (GAO) to study the effects of this suspension - including potential savings and how rounding cash transactions to the nearest dime might impact consumers - within three years. The bill clarifies that existing pennies and nickels remain legal tender for all payments, regardless of when they were minted. The GAO report will recommend whether to permanently end, reinstate, or continue the production suspension.