Cents and Sensibility Act - Revises the discretionary authority of the Secretary of the Treasury to prescribe the weight and the composition of the alloy of the one-cent coin.
Requires that the one-cent coin be: (1) produced primarily of steel; and (2) treated to impart a copper color to its appearance so that the appearance is similar to one-cent coins produced of a copper-zinc alloy.
Exempts from such requirement certain Lincoln Bicentennial numismatic pennies.
Requires the Secretary of the Treasury to report to certain congressional committees on a unified plan to change the metallic content of the five-cent, ten-cent, quarter-dollar and half-dollar circulating coins so as to return the ratios between the unit cost to produce such coins and their face value to a point where it is as close as possible to the historic production-cost-to-face-value ratios achieved in the 1980s.