The purpose of this legislation is to stop the production of 1-cent coins in the United States. It aims to simplify currency use and reduce costs associated with minting these coins, which are often seen as less useful in everyday transactions. The main provision of the law is that the Secretary of the Treasury will no longer be allowed to mint or issue 1-cent coins. This change involves several technical amendments to existing laws to remove references to the 1-cent coin and adjust the numbering of other coin denominations accordingly.