Coinage Materials Modernization Act of 2007 - Requires the Secretary of the Treasury to prescribe the weight and composition of the U.S. dollar, half dollar, quarter dollar, dime, five-cent, and one-cent coins. (Currently, the Secretary is authorized to prescribe the weight and the composition of copper and zinc in the alloy of the penny in specified circumstances.)
Removes restrictions on the weight of, and requirements concerning the metal in, the half dollar, quarter, dime, nickel, and penny.
Authorizes the Secretary to prescribe manufacturing tolerances for the nickel and penny.