Dollars and Sense Act of 2011 - Repeals the requirement that the Board of Governors of the Federal Reserve System (Federal Reserve Board) and the Secretary of the Treasury ensure that, during an introductory period, all institutions that want unmixed supplies of each newly-issued coin design minted under the Presidential $1 Coin and First Spouse Bullion Coin Programs are able to obtain such unmixed supplies.
Reduces, from four to two, the number of presidents honored each year.
Postpones the Native American $1 coin series until the termination of the Presidential $1 Coin Program.
Limits the aggregate number of presidential coins issued for circulation for any year to the number of $1 coins sold only as numismatic items during the previous calendar year.
Limits the availability of the Circulating $1 Coin Direct Ship Program to persons purchasing coins for collection purposes.
Expresses the sense of Congress that: (1) the Federal Reserve Board should address the backlog of $1 coins in its vaults by making them as publicly accessible as possible for circulation purposes, and (2) the U.S. Mint should continue producing Sacagawea coins for circulation purposes upon completion of the Presidential $1 Coin Program.
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