\[\"The Department of the TREASURY NEWS\" banner, with \"The Department
of the Treasury 1789\" seal on right and \"Washington, D.C. 20220;
Telephone W04-2041\" on 2nd line.\]

[FOR IMMEDIATE RELEASE]{.underline}

May 13, 1970

COINAGE COMMISSION ACTS ON EISENHOWER DOLLAR

The Joint Coinage Commission met today to reconsider its position on the
minting of an Eisenhower dollar coin.

It recommended, by a substantial majority vote, that the Secretary of
the Treasury be authorized to mint 150 million, 40 percent silver,
dollar coins bearing the likeness of former President Eisenhower. This
is incorporated in S.J. Res. 158, approved by the Senate on March 19,
1970.

This bill would:

--- Authorize the Treasury to mint not more than 150 million 40 percent
silver dollar coins, requiring about 47 million ounces of silver.

--- Direct General Services Administration to transfer 25.5 million
ounces of national stockpile silver, which is in excess of strategic
needs, to the Treasury for minting the silver dollars. The remainder of
21.5 million ounces required would come from regular Treasury stocks.

--- Authorize the minting of cupro-nickel dollars and half dollars for
general circulation.

(OVER)

--- Authorize the Secretary of the Treasury to transfer to GSA the
approximately 3 million rare silver dollars for sale to the public.

The 40 percent silver dollars would be distributed at a premium price
under a procedure which would assure the widest possible distribution.

The Treasury would continue silver sales through the GSA at the current
rate of 1.5 million ounces per week through November 10, 1970.

It is estimated that the total added government revenue and seigniorage
for the Eisenhower dollar coins over the next three or four years could
approach more than three quarters of a billion dollars, depending upon
the premium price of the coin.

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Members of the Joint Commission on the Coinage

The Honorable David M. Kennedy

Secretary of the Treasury

Chairman

+------------------------------------+---------------------------------+
| [Executive]{.underline}            | [House of                       |
|                                    | Representatives]{.underline}    |
| The Honorable Maurice H. Stans     |                                 |
|                                    | The Honorable Wright Patman     |
| Secretary of Commerce              |                                 |
|                                    | House Banking & Currency        |
| The Honorable Robert Mayo          | Committee                       |
|                                    |                                 |
| Director, Bureau of the Budget     | The Honorable William B.        |
|                                    | Widnall                         |
| The Honorable Mary Brooks          |                                 |
|                                    | House Banking & Currency        |
| Director, Bureau of the Mint       | Committee                       |
|                                    |                                 |
| [Senate]{.underline}               | The Honorable Ed Edmondson      |
|                                    |                                 |
| The Honorable John Sparkman        | U.S. House of Representatives   |
|                                    |                                 |
| Senate Banking and Currency        | The Honorable Robert N. Giaimo  |
| Committee                          |                                 |
|                                    | U.S. House of Representatives   |
| The Honorable Wallace F. Bennett   |                                 |
|                                    | The Honorable Silvio O. Conte   |
| Senate Banking and Currency        |                                 |
| Committee                          | U.S. House of Representatives   |
|                                    |                                 |
| The Honorable John O. Pastore      | The Honorable James A. McClure  |
|                                    |                                 |
| United States Senate               | U.S. House of Representatives   |
|                                    |                                 |
| The Honorable Alan Bible           | [Public]{.underline}            |
|                                    |                                 |
| United States Senate               | Mr. Julian B. Baird             |
|                                    |                                 |
| The Honorable George Murphy        | St. Paul, Minnesota             |
|                                    |                                 |
| United States Senate               | Mr. Amon Carter, Jr.            |
|                                    |                                 |
| The Honorable Peter H. Dominick    | Forth Worth, Texas              |
|                                    |                                 |
| United States Senate               | Mr. William C. Decker           |
|                                    |                                 |
|                                    | New York, New York              |
|                                    |                                 |
|                                    | Mr. Samuel M. Fleming           |
|                                    |                                 |
|                                    | Nashville, Tennessee            |
|                                    |                                 |
|                                    | Mr. Edward H. Foley             |
|                                    |                                 |
|                                    | Washington, D.C.                |
|                                    |                                 |
|                                    | Mr. Harry Francis Harrington    |
|                                    |                                 |
|                                    | St. Louis, Missouri             |
|                                    |                                 |
|                                    | Mr. Eugene S. Pulliam           |
|                                    |                                 |
|                                    | Indianapolis, Indiana           |
|                                    |                                 |
|                                    | Mr. Harry E. Rainbolt           |
|                                    |                                 |
|                                    | Norman, Oklahoma                |
+------------------------------------+---------------------------------+

\- 3 -