-CITE-
    31 USC CHAPTER 51 - COINS AND CURRENCY                      01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
-HEAD-
                      CHAPTER 51 - COINS AND CURRENCY
-MISC1-
                      SUBCHAPTER I - MONETARY SYSTEM
    Sec.
    5101.       Decimal system.
    5102.       Standard weight.
    5103.       Legal tender.
                     SUBCHAPTER II - GENERAL AUTHORITY
    5111.       Minting and issuing coins, medals, and numismatic
                 items.
    5112.       Denominations, specifications, and design of coins.
    5113.       Tolerances and testing of coins.
    5114.       Engraving and printing currency and security
                 documents.
    5115.       United States currency notes.
    5116.       Buying and selling gold and silver.
    5117.       Transferring gold and gold certificates.
    5118.       Gold clauses and consent to sue.
    5119.       Redemption and cancellation of currency.
    5120.       Obsolete, mutilated, and worn coins and currency.
    5121.       Refining, assaying, and valuation of bullion.
    5122.       Payment to depositors.
                    SUBCHAPTER III - UNITED STATES MINT
    5131.       Organization.
    5132.       Administrative.
    5133.       Settlement of accounts.
    5134.       Numismatic Public Enterprise Fund.
    5135.       Numismatic Public Enterprise Fund.(!1)
    5136.       United States Mint Public Enterprise Fund.(!2)
             SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING
    5141.       Operation of the Bureau.
    5142.       Bureau of Engraving and Printing Fund.
    5143.       Payment for services.
    5144.       Providing impressions of portraits and vignettes.
                       SUBCHAPTER V - MISCELLANEOUS
    5151.       Conversion of currency of foreign countries.
    5152.       Value of United States money holdings in international
                 institutions.
    5153.       Counterfeit currency.
    5154.       State taxation.
    5155.       Providing engraved plates of portraits of deceased
                 members of Congress.
                                AMENDMENTS
      1992 - Pub. L. 102-390, title II, Secs. 221(d), 225(b)(6),
    229(b), Oct. 6, 1992, 106 Stat. 1629, 1630, 1632, substituted
    "UNITED STATES MINT" for "BUREAU OF THE MINT" in subchapter III
    heading and added items 5134 and 5135.
-FOOTNOTE-
    (!1) So in original. Does not conform to section catchline.
    (!2) Editorially supplied. Section added by Pub. L. 104-52
         without corresponding amendment of chapter analysis.
-End-
-CITE-
    31 USC SUBCHAPTER I - MONETARY SYSTEM                       01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER I - MONETARY SYSTEM
-HEAD-
                      SUBCHAPTER I - MONETARY SYSTEM
-End-
-CITE-
    31 USC Sec. 5101                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER I - MONETARY SYSTEM
-HEAD-
    Sec. 5101. Decimal system
-STATUTE-
      United States money is expressed in dollars, dimes or tenths,
    cents or hundreths,(!1) and mills or thousandths. A dime is a tenth
    of a dollar, a cent is a hundredth of a dollar, and a mill is a
    thousandth of a dollar.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 980.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5101         31:371.                 R.S. Sec. 3563.
    --------------------------------------------------------------------
      The word "money" is substituted for "money of account" to
    eliminate unnecessary words. As far as can be determined, the
    phrase "money of account" has not been interpreted by any court or
    Government agency. The phrase was used by Alexander Hamilton in his
    "Report on the Establishment of the Mint" (1791). In that Report,
    Hamilton propounded 6 questions, including:
           1st. What ought to be the nature of the money unit of the
        United States?
    Thereafter, Hamilton uses the phrases "money unit of the United
    States" and "money of account" interchangeably and in the sense
    that the phrases are used to denote the monetary system for keeping
    financial accounts. In short, the phrases simply indicate that
    financial accounts are to be based on a decimal money system:
          . . ., and it is certain that nothing can be more simple and
        convenient than the decimal subdivisions. There is every reason
        to expect that the method will speedily grow into general use,
        when it shall be seconded by corresponding coins. On this plan
        the unit in the money of account will continue to be, as
        established by that resolution [of August 8, 1786], a dollar,
        and its multiples, dimes, cents, and mills, or tenths,
        hundreths, [sic] and thousands.
    Thus, the phrase "money of account" did not mean, by itself, that
    dollars or fractions of dollars must be equal to something having
    intrinsic or "substantive" value. This concept is supported by
    earlier writings of Thomas Jefferson in his "Notes on the
    Establishment of a Money Unit, and of a Coinage for the United
    States" (1784), and the 1782 report to the President of the
    Continental Congress on the coinage of the United States by the
    Superintendent of Finances, Robert Morris, which was apparently
    prepared by the Assistant Superintendent, Gouverneur Morris. See
    Paul L. Ford, The Writings of Thomas Jefferson, vol. III (G.P.
    Putnam's Sons, 1894) pp. 446-457; William G. Sumner, The Financier
    and the Finances of the American Revolution, vol. II (Burt
    Franklin, 1891, reprinted 1970) pp. 36-47; and George T. Curtis,
    History of the Constitution, vol. I (Harper and Brothers, 1859) p.
    443, n2. The words "or units" and "and all accounts in the public
    offices and all proceedings in the courts shall be kept and had in
    conformity to this regulation" are omitted as surplus.
                       SHORT TITLE OF 2005 AMENDMENT
      Pub. L. 109-145, Sec. 1, Dec. 22, 2005, 119 Stat. 2664, provided
    that: "This Act [amending section 5112 of this title and enacting
    provisions set out as notes under section 5112 of this title] may
    be cited as the 'Presidential $1 Coin Act of 2005'."
                       SHORT TITLE OF 2003 AMENDMENT
      Pub. L. 108-15, Sec. 1, Apr. 23, 2003, 117 Stat. 615, provided
    that: "This Act [amending sections 5112, 5134, and 5135 of this
    title and enacting provisions set out as notes under sections 5112,
    5134, and 5135 of this title] may be cited as the 'American 5-Cent
    Coin Design Continuity Act of 2003'."
                       SHORT TITLE OF 2002 AMENDMENT
      Pub. L. 107-201, Sec. 1, July 23, 2002, 116 Stat. 736, provided
    that: "This Act [amending section 5116 of this title and enacting
    provisions set out as notes under sections 5112 and 5116 of this
    title] may be cited as the 'Support of American Eagle Silver
    Bullion Program Act'."
                       SHORT TITLE OF 2000 AMENDMENT
      Pub. L. 106-445, Sec. 1, Nov. 6, 2000, 114 Stat. 1931, provided
    that: "This Act [amending sections 5112, 5132 and 5134 of this
    title] may be cited as the 'United States Mint Numismatic Coin
    Clarification Act of 2000'."
                       SHORT TITLE OF 1997 AMENDMENT
      Pub. L. 105-124, Sec. 1, Dec. 1, 1997, 111 Stat. 2534, provided
    that: "This Act [amending section 5112 of this title and enacting
    provisions set out as notes under this section and section 5112 of
    this title] may be cited as the '50 States Commemorative Coin
    Program Act'."
      Pub. L. 105-124, Sec. 4(a), Dec. 1, 1997, 111 Stat. 2536,
    provided that: "This section [amending section 5112 of this title
    and enacting provisions set out as notes under section 5112 of this
    title] may be cited as the 'United States $1 Coin Act of 1997'."
                       SHORT TITLE OF 1996 AMENDMENT
      Pub. L. 104-329, Sec. 1(a), Oct. 20, 1996, 110 Stat. 4005,
    provided that: "This Act [amending sections 5131 and 5135 of this
    title and enacting provisions set out as notes under this section,
    sections 5112 and 5135 of this title, and section 431 of Title 16,
    Conservation] may be cited as the 'United States Commemorative Coin
    Act of 1996'."
      Pub. L. 104-329, title III, Sec. 301, Oct. 20, 1996, 110 Stat.
    4012, provided that: "This title [amending sections 5131 and 5135
    of this title and enacting provisions set out as notes under
    sections 5112 and 5135 of this title] may be cited as the '50
    States Commemorative Coin Program Act'."
                       SHORT TITLE OF 1992 AMENDMENT
      Pub. L. 102-390, title II, Sec. 201, Oct. 6, 1992, 106 Stat.
    1624, provided that: "This title [enacting sections 5134 and 5135
    of this title, amending sections 304, 5111, 5112, 5119, 5131, and
    5132 of this title and section 709 of Title 18, Crimes and Criminal
    Procedure, enacting provisions set out as notes under sections 5132
    and 5134 of this title, amending provisions set out as notes under
    section 5112 of this title, and repealing provisions set out as a
    note under section 5112 of this title] may be cited as the 'United
    States Mint Reauthorization and Reform Act of 1992'."
                       SHORT TITLE OF 1990 AMENDMENT
      Pub. L. 101-585, Sec. 1, Nov. 15, 1990, 104 Stat. 2874, provided
    that: "This Act [amending section 5132 of this title] may be cited
    as the 'Silver Coin Proof Sets Act'."
-FOOTNOTE-
    (!1) So in original. Probably should be "hundredths,".
-End-
-CITE-
    31 USC Sec. 5102                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER I - MONETARY SYSTEM
-HEAD-
    Sec. 5102. Standard weight
-STATUTE-
      The standard troy pound of the National Institute of Standards
    and Technology of the Department of Commerce shall be the standard
    used to ensure that the weight of United States coins conforms to
    specifications in section 5112 of this title.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 980; Pub. L. 100-418,
    title V, Sec. 5115(c), Aug. 23, 1988, 102 Stat. 1433.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5102         31:364.                 R.S. Sec. 3548; restated Mar.
                                          4, 1911, ch. 268, Sec. 1, 36
                                          Stat. 1354.
    --------------------------------------------------------------------
      The words "National Bureau of Standards of the Department of
    Commerce" are substituted for "Bureau of Standards of the United
    States" because of 15:1511. The words "troy pound of the mint of
    the United States, conformably to which the coinage thereof shall
    be regulated" are omitted as unnecessary because of the
    restatement. The word "ensure" is substituted for "securing" as
    being more precise. The words "specifications in section 5112 of
    this title" are substituted for "the provisions of the laws
    relating to coinage" because of the restatement.
                                AMENDMENTS
      1988 - Pub. L. 100-418 substituted "National Institute of
    Standards and Technology" for "National Bureau of Standards".
-End-
-CITE-
    31 USC Sec. 5103                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER I - MONETARY SYSTEM
-HEAD-
    Sec. 5103. Legal tender
-STATUTE-
      United States coins and currency (including Federal reserve notes
    and circulating notes of Federal reserve banks and national banks)
    are legal tender for all debts, public charges, taxes, and dues.
    Foreign gold or silver coins are not legal tender for debts.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 980; Pub. L. 97-452, Sec.
    1(19), Jan. 12, 1983, 96 Stat. 2477.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
                                 1982 ACT
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5103         31:392.                 July 23, 1965, Pub. L. 89-81,
                                          Sec. 102, 79 Stat. 255.
                 31:456.                 R.S. Sec. 3584.
    --------------------------------------------------------------------
      The words "All . . . regardless of when coined or issued" are
    omitted as unnecessary because of the restatement. The word "debts"
    is substituted for "debts, public and private" to eliminate
    unnecessary words. The words "public charges, taxes, duties, and
    dues" are omitted as included in "debts".
                                 1983 ACT
      This restores to 31:5103 the reference to public charges, taxes,
    and dues because they are not considered to be debts. See, Hagar v.
    Reclamation District No. 108, 111 U.S. 701, 706 (1884).
                                AMENDMENTS
      1983 - Pub. L. 97-452 inserted ", public charges, taxes, and
    dues" after "all debts".
                     EFFECTIVE DATE OF 1983 AMENDMENT
      Amendment effective Sept. 13, 1982, see section 2(i) of Pub. L.
    97-452, set out as a note under section 3331 of this title.
-End-
-CITE-
    31 USC SUBCHAPTER II - GENERAL AUTHORITY                    01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
                     SUBCHAPTER II - GENERAL AUTHORITY
-End-
-CITE-
    31 USC Sec. 5111                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5111. Minting and issuing coins, medals, and numismatic items
-STATUTE-
      (a) The Secretary of the Treasury -
        (1) shall mint and issue coins described in section 5112 of
      this title in amounts the Secretary decides are necessary to meet
      the needs of the United States;
        (2) may prepare national medal dies and strike national and
      other medals if it does not interfere with regular minting
      operations but may not prepare private medal dies;
        (3) may prepare and distribute numismatic items; and
        (4) may mint coins for a foreign country if the minting does
      not interfere with regular minting operations, and shall
      prescribe a charge for minting the foreign coins equal to the
      cost of the minting (including labor, materials, and the use of
      machinery).
      (b) The Department of the Treasury has a coinage metal fund and a
    coinage profit fund. The Secretary may use the coinage metal fund
    to buy metal to mint coins. The Secretary shall credit the coinage
    profit fund with the amount by which the nominal value of the coins
    minted from the metal exceeds the cost of the metal. The Secretary
    shall charge the coinage profit fund with waste incurred in minting
    coins and the cost of distributing the coins, including the cost of
    coin bags and pallets. The Secretary shall deposit in the Treasury
    as miscellaneous receipts excess amounts in the coinage profit
    fund.
      (c) Procurements Relating to Coin Production. -
        (1) In general. - The Secretary may make contracts, on
      conditions the Secretary decides are appropriate and are in the
      public interest, to acquire articles, materials, supplies, and
      services (including equipment, manufacturing facilities, patents,
      patent rights, technical knowledge, and assistance) necessary to
      produce the coins referred to in this title.
        (2) Domestic control of coinage. - (A) Subject to subparagraph
      (B), in order to protect the national security through domestic
      control of the coinage process, the Secretary shall acquire only
      such articles, materials, supplies, and services (including
      equipment, manufacturing facilities, patents, patent rights,
      technical knowledge, and assistance) for the production of coins
      as have been produced or manufactured in the United States unless
      the Secretary determines it to be inconsistent with the public
      interest, or the cost to be unreasonable, and publishes in the
      Federal Register a written finding stating the basis for the
      determination.
        (B) Subparagraph (A) shall apply only in the case of a bid or
      offer from a supplier the principal place of business of which is
      in a foreign country which does not accord to United States
      companies the same competitive opportunities for procurements in
      connection with the production of coins as it accords to domestic
      companies.
        (3) Determination. -
          (A) In general. - Any determination of the Secretary referred
        to in paragraph (2) shall not be reviewable in any
        administrative proceeding or court of the United States.
          (B) Other rights unaffected. - This paragraph does not alter
        or annul any right of review that arises under any provision of
        any law or regulation of the United States other than paragraph
        (2).
        (4) Nothing in paragraph (2) of this subsection in any way
      affects the procurement by the Secretary of gold and silver for
      the production of coins by the United States Mint.
      (d)(1) The Secretary may prohibit or limit the exportation,
    melting, or treatment of United States coins when the Secretary
    decides the prohibition or limitation is necessary to protect the
    coinage of the United States.
      (2) A person knowingly violating an order or license issued or
    regulation prescribed under paragraph (1) of this subsection, shall
    be fined not more than $10,000, imprisoned not more than 5 years,
    or both.
      (3) Coins exported, melted, or treated in violation of an order
    or license issued or regulation prescribed, and metal resulting
    from the melting or treatment, shall be forfeited to the United
    States Government. The powers of the Secretary and the remedies
    available to enforce forfeitures are those provided in part II of
    subchapter C of chapter 75 of the Internal Revenue Code of 1954
    (!1) (26 U.S.C. 7321 et seq.).
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 980; Pub. L. 100-274,
    Sec. 3, Mar. 31, 1988, 102 Stat. 49; Pub. L. 102-390, title II,
    Sec. 222, Oct. 6, 1992, 106 Stat. 1629.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5111(a)(     31:272.                 R.S. Sec. 3503.
     1)
                 31:275.                 R.S. Sec. 3509; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:322.                 R.S. Sec. 3516.
                 31:342.                 June 4, 1897, ch. 2, Sec.
                                          1(1st par. under heading
                                          "Recoinage, Reissue, and
                                          Transportation of Minor
                                          Coins"), 30 Stat. 27.
                 31:345.                 R.S. Sec. 3532; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:353.                 R.S. Sec. 3540; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:391(a).              July 23, 1965, Pub. L. 89-81,
                                          Sec. 101(a), 79 Stat. 254;
                                          restated Dec. 31, 1970, Pub.
                                          L. 91-607, Sec. 201, 84 Stat.
                                          1768.
    5111(a)(     31:368.                 R.S. Sec. 3551; Aug. 23, 1912,
     2)                                   ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
    5111(a)(     31:324h.                Oct. 18, 1973, Pub. L. 93-127,
     3)                                   Sec. 5, 87 Stat. 456.
    5111(a)(     31:367.                 Jan. 29, 1874, ch. 19, 18
     4)                                   Stat. 6.
    5111(b)      31:340.                 R.S. Sec. 3528; Apr. 24, 1906,
                                          ch. 1861, 34 Stat. 132; Dec.
                                          2, 1918, ch. 1, 40 Stat. 1051;
                                          Aug. 14, 1937, ch. 631, 50
                                          Stat. 647; June 21, 1941, ch.
                                          213, 55 Stat. 255; June 30,
                                          1954, ch. 427, 68 Stat. 336;
                                          July 9, 1956, ch. 535, Sec. 1,
                                          70 Stat. 518; restated July
                                          23, 1965, Pub. L. 89-81, Sec.
                                          206(a), 79 Stat. 256.
    5111(c)      31:393(a).              July 23, 1965, Pub. L. 89-81,
                                          Secs. 103(a), 105, 106, 79
                                          Stat. 255.
    5111(d)      31:395, 396.
    --------------------------------------------------------------------
      In subsection (a)(1), the words "coins described in" are
    substituted for "coins of the denominations set forth in" in
    31:391(a) because of the restatement. The text of 31:253, 272, and
    345(1st sentence) is omitted as superseded by the source provisions
    restated in section 321(c) of the revised title. The text of
    31:275, 322, 342, 345(last sentence), and 353 is omitted as
    unnecessary because of the restatement.
      In subsection (a)(2), the words "Secretary of the Treasury" are
    substituted for "engraver" and "superintendent of coining
    department of the mint at Philadelphia" because of the source
    provisions restated in section 321(c) of the revised title. The
    words "under such regulations as the superintendent, with the
    approval of the Director of the Mint, may prescribe" are omitted as
    unnecessary because of section 321(b) of the revised title. The
    words "national medal dies" are substituted for "Dies of a national
    character" for clarity. The words "or the machinery or apparatus
    thereof be used for that purpose" are omitted as unnecessary
    because of the restatement.
      In subsection (a)(3), the words "numismatic items" are retained
    and used throughout the revised title to apply to medals, proof
    coins, uncirculated coins, numismatic accessories, and other
    numismatic items to eliminate unnecessary words and for
    consistency. The words "In connection with the operations of the
    Bureau of the Mint" are omitted as unnecessary because of the
    restatement. The text of 31:324h(last sentence) is omitted as
    unnecessary because of the source provisions restated in section
    5132(a) of the revised title.
      In subsection (a)(4), the words "may mint" are substituted for
    "It shall be lawful for coinage to be executed" in 31:367, and the
    words "regular minting operations" are substituted for "required
    coinage of the United States", for consistency in the revised
    section. The words "at the mints of the United States" and
    "according to the legally prescribed standards and devices of such
    country" are omitted as unnecessary because of the restatement. The
    words "The Secretary of the Treasury . . . shall prescribe a
    charge" are substituted for "the charge . . . to be fixed by the
    Director of the Mint, with the approval of the Secretary of the
    Treasury" because of the source provisions restated in section
    321(c) of the revised title. The words "minting the foreign coins"
    are substituted for "the same", for clarity. The words "under such
    regulations as the Secretary of the Treasury may prescribe" are
    omitted as unnecessary because of section 321(b) of the revised
    title.
      In subsection (b), the first sentence is added for clarity and
    because of the restatement. The words "amount by which the nominal
    value of the coins minted from the metal exceeds the cost of the
    metal" are substituted for "gain arising from the coinage of metals
    purchased out of such fund into coin of a nominal value exceeding
    the cost of such metals" to eliminate unnecessary words. The words
    "The Secretary shall deposit in the Treasury as miscellaneous
    receipts excess amounts in the coinage profit fund" are substituted
    for "such sums as shall from time to time be transferred therefrom
    to the general fund of the Treasury" for clarity and for
    consistency in the revised title.
      In subsection (c), the words "metallic strip" are omitted as
    being included in "materials", and the word "terms" is omitted as
    being included in "conditions".
      In subsection (d)(1), the words "prohibit or limit" are
    substituted for "prohibit, curtail, or regulate" because of the
    restatement and to eliminate unnecessary words. The words
    "prohibition or limitation" are substituted for "such action"
    because of the restatement. The words "under such rules and
    regulations as he may prescribe" are omitted as unnecessary because
    of section 321(b) of the revised title.
      In subsection (d)(2), the word "person" is substituted for
    "Whoever" for consistency in the revised title.
      In subsection (d)(3), the words "and his delegates" are omitted
    as unnecessary because of the power of the Secretary to delegate
    under section 321(b) of the revised title. The word "remedies" is
    substituted for "judicial and other remedies available to the
    United States" to eliminate unnecessary words. The words "of
    property subject to forfeiture pursuant to subsection (a) of this
    section" and "for the enforcement of forfeitures of property
    subject to forfeiture under any provision of title 26" are omitted
    as unnecessary because of the restatement.
-REFTEXT-
                            REFERENCES IN TEXT
      The Internal Revenue Code of 1954, referred to in subsec. (d)(3),
    was redesignated the Internal Revenue Code of 1986 by Pub. L. 99-
    514, Sec. 2, Oct. 22, 1986, 100 Stat. 2095, and is classified
    generally to Title 26, Internal Revenue Code.
-MISC2-
                                AMENDMENTS
      1992 - Subsec. (b). Pub. L. 102-390 inserted ", including the
    cost of coin bags and pallets" after "distributing the coins" in
    fourth sentence.
      1988 - Subsec. (c). Pub. L. 100-274 inserted heading and amended
    subsec. (c) generally. Prior to amendment, subsec. (c) read as
    follows: "The Secretary may make contracts on conditions the
    Secretary decides are appropriate and in the public interest to
    acquire equipment, manufacturing facilities, patents, patent
    rights, technical knowledge and assistance, and materials necessary
    to produce rapidly an adequate supply of coins referred to in
    section 5112(a)(1)-(4) of this title."
         TERMINATION OF COINAGE PROFIT FUND AND COINAGE METAL FUND
      All assets and liabilities of Coinage Profit Fund and Coinage
    Metal Fund transferred to United States Mint Public Enterprise Fund
    and both coinage funds to cease to exist as separate funds as their
    activities and functions are subsumed under and subject to United
    States Mint Public Enterprise Fund, see section 5136 of this title.
                           COMMEMORATIVE MEDALS
      Provisions authorizing commemorative medals were contained in the
    following acts:
      Pub. L. 109-395, Dec. 14, 2006, 120 Stat. 2708, recognizing Dr.
    Norman E. Borlaug.
      Pub. L. 109-357, Oct. 16, 2006, 120 Stat. 2044, recognizing Byron
    Nelson.
      Pub. L. 109-287, Sept. 27, 2006, 120 Stat. 1231, recognizing the
    Fourteenth Dalai Lama.
      Pub. L. 109-213, Apr. 11, 2006, 120 Stat. 322, recognizing the
    Tuskegee Airmen.
      Pub. L. 108-447, div. B, title I, Sec. 124, Dec. 8, 2004, 118
    Stat. 2871, as amended by Pub. L. 109-13, div. A, title VI, Sec.
    6060, May 11, 2005, 119 Stat. 297, recognizing members of public
    safety agencies killed in the terrorist attacks in the United
    States on Sept. 11, 2001.
      Pub. L. 108-368, Oct. 25, 2004, 118 Stat. 1746, recognizing
    Reverend Doctor Martin Luther King, Jr. and his widow Coretta Scott
    King.
      Pub. L. 108-180, Dec. 15, 2003, 117 Stat. 2645, recognizing
    Reverend Joseph A. DeLaine, Harry and Eliza Briggs, and Levi
    Pearson.
      Pub. L. 108-162, Dec. 6, 2003, 117 Stat. 2017, recognizing Dr.
    Dorothy Irene Height.
      Pub. L. 108-101, Oct. 29, 2003, 117 Stat. 1195, recognizing
    Jackie Robinson.
      Pub. L. 108-60, July 17, 2003, 117 Stat. 862, recognizing Prime
    Minister Tony Blair.
      Pub. L. 107-127, Jan. 16, 2002, 115 Stat. 2405, recognizing
    General Henry H. Shelton.
      Pub. L. 106-554, Sec. 1(a)(4) [div. B, title XI, Sec. 1101], Dec.
    21, 2000, 114 Stat. 2763, 2763A-311, recognizing the Navajo Code
    Talkers.
      Pub. L. 106-251, July 27, 2000, 114 Stat. 624, recognizing Ronald
    and Nancy Reagan.
      Pub. L. 106-250, July 27, 2000, 114 Stat. 622, recognizing Pope
    John Paul II.
      Pub. L. 106-225, June 20, 2000, 114 Stat. 457, recognizing
    Charles M. Schulz.
      Pub. L. 106-175, Mar. 5, 2000, 114 Stat. 21, recognizing
    Archbishop John Cardinal O'Connor.
      Pub. L. 106-153, Dec. 9, 1999, 113 Stat. 1733, recognizing Father
    Theodore M. Hesburgh.
      Pub. L. 106-26, May 4, 1999, 113 Stat. 50, recognizing Rosa
    Parks.
      Pub. L. 105-277, div. C, title I, Sec. 139(a), Oct. 21, 1998, 112
    Stat. 2681-597, recognizing the individuals commonly referred to as
    the "Little Rock Nine".
      Pub. L. 105-277, div. C, title I, Sec. 139(b), Oct. 21, 1998, 112
    Stat. 2681-598, recognizing Gerald R. and Betty Ford.
      Pub. L. 105-215, July 29, 1998, 112 Stat. 895, recognizing Nelson
    Rolihlahla Mandela.
      Pub. L. 105-51, Oct. 6, 1997, 111 Stat. 1170, recognizing
    Ecumenical Patriarch Bartholomew.
      Pub. L. 105-16, June 2, 1997, 111 Stat. 35, recognizing Mother
    Teresa of Calcutta.
      Pub. L. 105-14, May 14, 1997, 111 Stat. 32, recognizing Frank
    Sinatra.
      Pub. L. 104-201, div. A, title X, Sec. 1066, Sept. 23, 1996, 110
    Stat. 2654, recognizing civilians who defended Pearl Harbor.
      Pub. L. 104-111, Feb. 13, 1996, 110 Stat. 772, recognizing Billy
    and Ruth Graham.
      Pub. L. 103-457, Nov. 2, 1994, 108 Stat. 4799, recognizing Rabbi
    Menachem Mendel Schneerson.
      Pub. L. 102-479, Oct. 23, 1992, 106 Stat. 2308, commemorating the
    250th anniversary of the founding of the American Philosophical
    Society and of the birth of Thomas Jefferson.
      Pub. L. 102-406, Oct. 12, 1992, 106 Stat. 1986, commemorating
    Benjamin Franklin's contributions to American fire services.
      Pub. L. 102-281, title III, May 13, 1992, 106 Stat. 137; Pub. L.
    103-328, title II, Sec. 203, Sept. 29, 1994, 108 Stat. 2369,
    recognizing members of the United States Armed Forces who served in
    a combat zone in connection with the Persian Gulf conflict.
      Pub. L. 102-33, Apr. 23, 1991, 105 Stat. 177, recognizing General
    Colin L. Powell.
      Pub. L. 102-32, Apr. 23, 1991, 105 Stat. 175, recognizing General
    H. Norman Schwarzkopf.
      Pub. L. 101-510, div. A, title XIV, Secs. 1491, 1494, Nov. 5,
    1990, 104 Stat. 1720, 1722, recognizing General Matthew B. Ridgway.
      Pub. L. 101-510, div. A, title XIV, Secs. 1492, 1494, Nov. 5,
    1990, 104 Stat. 1721, 1722, recognizing veterans of the Armed
    Forces of the United States who were present in Hawaii on Dec. 7,
    1941, and participated in combat operations that day.
      Pub. L. 101-510, div. A, title XIV, Secs. 1493, 1494, Nov. 5,
    1990, 104 Stat. 1722, commemorating centennial of Yosemite National
    Park.
      Pub. L. 101-296, May 17, 1990, 104 Stat. 197, recognizing
    Laurance Spelman Rockefeller.
      Pub. L. 101-260, Mar. 30, 1990, 104 Stat. 122, commemorating
    bicentennial of United States Coast Guard.
      Pub. L. 100-639, Nov. 9, 1988, 102 Stat. 3331, recognizing Andrew
    Wyeth.
      Pub. L. 100-437, Secs. 1-3, Sept. 20, 1988, 102 Stat. 1717,
    recognizing Jesse Owens.
      Pub. L. 100-210, Secs. 1, 2, Dec. 24, 1987, 101 Stat. 1441,
    recognizing Mary Lasker.
      Pub. L. 99-418, Sept. 23, 1986, 100 Stat. 952, recognizing Aaron
    Copland.
      Pub. L. 99-311, May 20, 1986, 100 Stat. 464, recognizing Harry
    Chapin.
      Pub. L. 99-298, May 13, 1986, 100 Stat. 432, recognizing Natan
    (Anatoly) and Avital Shcharansky.
      Pub. L. 99-295, May 12, 1986, 100 Stat. 427; Pub. L. 100-210,
    Sec. 3, Dec. 24, 1987, 101 Stat. 1441; Pub. L. 100-437, Sec. 4,
    Sept. 20, 1988, 102 Stat. 1717, commemorating the Young Astronaut
    Program.
      Pub. L. 95-630, title IV, Secs. 401-407, Nov. 10, 1978, 92 Stat.
    3679, 3680, recognizing outstanding individuals in the American
    arts.
-FOOTNOTE-
    (!1) See References in Text note below.
-End-
-CITE-
    31 USC Sec. 5112                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5112. Denominations, specifications, and design of coins
-STATUTE-
      (a) The Secretary of the Treasury may mint and issue only the
    following coins:
        (1) a dollar coin that is 1.043 inches in diameter.
        (2) a half dollar coin that is 1.205 inches in diameter and
      weighs 11.34 grams.
        (3) a quarter dollar coin that is 0.955 inch in diameter and
      weighs 5.67 grams.
        (4) a dime coin that is 0.705 inch in diameter and weighs 2.268
      grams.
        (5) a 5-cent coin that is 0.835 inch in diameter and weighs 5
      grams.
        (6) except as provided under subsection (c) of this section, a
      one-cent coin that is 0.75 inch in diameter and weighs 3.11
      grams.
        (7) A fifty dollar gold coin that is 32.7 millimeters in
      diameter, weighs 33.931 grams, and contains one troy ounce of
      fine gold.
        (8) A twenty-five dollar gold coin that is 27.0 millimeters in
      diameter, weighs 16.966 grams, and contains one-half troy ounce
      of fine gold.
        (9) A ten dollar gold coin that is 22.0 millimeters in
      diameter, weighs 8.483 grams, and contains one-fourth troy ounce
      of fine gold.
        (10) A five dollar gold coin that is 16.5 millimeters in
      diameter, weighs 3.393 grams, and contains one-tenth troy ounce
      of fine gold.
        (11) A $50 gold coin that is of an appropriate size and
      thickness, as determined by the Secretary, weighs 1 ounce, and
      contains 99.99 percent pure gold.
      (b) The half dollar, quarter dollar, and dime coins are clad
    coins with 3 layers of metal. The 2 identical outer layers are an
    alloy of 75 percent copper and 25 percent nickel. The inner layer
    is copper. The outer layers are metallurgically bonded to the inner
    layer and weigh at least 30 percent of the weight of the coin. The
    dollar coin shall be golden in color, have a distinctive edge, have
    tactile and visual features that make the denomination of the coin
    readily discernible, be minted and fabricated in the United States,
    and have similar metallic, anti-counterfeiting properties as United
    States coinage in circulation on the date of enactment of the
    United States $1 Coin Act of 1997. The 5-cent coin is an alloy of
    75 percent copper and 25 percent nickel. In minting 5-cent coins,
    the Secretary shall use bars that vary not more than 2.5 percent
    from the percent of nickel required. Except as provided under
    subsection (c) of this section, the one-cent coin is an alloy of 95
    percent copper and 5 percent zinc. In minting gold coins, the
    Secretary shall use alloys that vary not more than 0.1 percent from
    the percent of gold required. The specifications for alloys are by
    weight.
      (c) The Secretary may prescribe the weight and the composition of
    copper and zinc in the alloy of the one-cent coin that the
    Secretary decides are appropriate when the Secretary decides that a
    different weight and alloy of copper and zinc are necessary to
    ensure an adequate supply of one-cent coins to meet the needs of
    the United States.
      (d)(1) United States coins shall have the inscription "In God We
    Trust". The obverse side of each coin shall have the inscription
    "Liberty". The reverse side of each coin shall have the
    inscriptions "United States of America" and "E Pluribus Unum" and a
    designation of the value of the coin. The design on the reverse
    side of the dollar, half dollar, and quarter dollar is an eagle.
    Subject to other provisions of this subsection, the obverse of any
    5-cent coin issued after December 31, 2005, shall bear the likeness
    of Thomas Jefferson and the reverse of any such 5-cent coin shall
    bear an image of the home of Thomas Jefferson at Monticello. The
    Secretary of the Treasury, in consultation with the Congress, shall
    select appropriate designs for the obverse and reverse sides of the
    dollar coin. The coins have an inscription of the year of minting
    or issuance. However, to prevent or alleviate a shortage of a
    denomination, the Secretary may inscribe coins of the denomination
    with the year that was last inscribed on coins of the denomination.
      (2) The Secretary shall prepare the devices, models, hubs, and
    dies for coins, emblems, devices, inscriptions, and designs
    authorized under this chapter. The Secretary may, after consulting
    with the Citizens Coinage Advisory Committee and the Commission of
    Fine Arts, adopt and prepare new designs or models of emblems or
    devices that are authorized in the same way as when new coins or
    devices are authorized. The Secretary may change the design or die
    of a coin only once within 25 years of the first adoption of the
    design, model, hub, or die for that coin. The Secretary may procure
    services under section 3109 of title 5 in carrying out this
    paragraph.
      (e) Notwithstanding any other provision of law, the Secretary
    shall mint and issue, in quantities sufficient to meet public
    demand, coins which -
        (1) are 40.6 millimeters in diameter and weigh 31.103 grams;
        (2) contain .999 fine silver;
        (3) have a design -
          (A) symbolic of Liberty on the obverse side; and
          (B) of an eagle on the reverse side;
        (4) have inscriptions of the year of minting or issuance, and
      the words "Liberty", "In God We Trust", "United States of
      America", "1 Oz. Fine Silver", "E Pluribus Unum", and "One
      Dollar"; and
        (5) have reeded edges.
      (f) Silver Coins. -
        (1) Sale price. - The Secretary shall sell the coins minted
      under subsection (e) to the public at a price equal to the market
      value of the bullion at the time of sale, plus the cost of
      minting, marketing, and distributing such coins (including labor,
      materials, dies, use of machinery, and promotional and overhead
      expenses).
        (2) Bulk sales. - The Secretary shall make bulk sales of the
      coins minted under subsection (e) at a reasonable discount.
        (3) Numismatic items. - For purposes of section 5132(a)(1) of
      this title, all coins minted under subsection (e) shall be
      considered to be numismatic items.
      (g) For purposes of section 5132(a)(1) of this title, all coins
    minted under subsection (e) of this section shall be considered to
    be numismatic items.
      (h) The coins issued under this title shall be legal tender as
    provided in section 5103 of this title.
      (i)(1) Notwithstanding section 5111(a)(1) of this title, the
    Secretary shall mint and issue the gold coins described in
    paragraphs (7), (8), (9), and (10) of subsection (a) of this
    section, in quantities sufficient to meet public demand, and such
    gold coins shall -
        (A) have a design determined by the Secretary, except that the
      fifty dollar gold coin shall have -
          (i) on the obverse side, a design symbolic of Liberty; and
          (ii) on the reverse side, a design representing a family of
        eagles, with the male carrying an olive branch and flying above
        a nest containing a female eagle and hatchlings;
        (B) have inscriptions of the denomination, the weight of the
      fine gold content, the year of minting or issuance, and the words
      "Liberty", "In God We Trust", "United States of America", and "E
      Pluribus Unum"; and
        (C) have reeded edges.
      (2)(A) The Secretary shall sell the coins minted under this
    subsection to the public at a price equal to the market value of
    the bullion at the time of sale, plus the cost of minting,
    marketing, and distributing such coins (including labor, materials,
    dies, use of machinery, and promotional and overhead expenses).
      (B) The Secretary shall make bulk sales of the coins minted under
    this subsection at a reasonable discount.
      (3) For purposes of section 5132(a)(1) of this title, all coins
    minted under this subsection shall be considered to be numismatic
    items.
      (4)(A) Notwithstanding any other provision of law and subject to
    subparagraph (B), the Secretary of the Treasury may change the
    diameter, weight, or design of any coin minted under this
    subsection or the fineness of the gold in the alloy of any such
    coin if the Secretary determines that the specific diameter,
    weight, design, or fineness of gold which differs from that
    otherwise required by law is appropriate for such coin.
      (B) The Secretary may not mint any coin with respect to which a
    determination has been made by the Secretary under subparagraph (A)
    before the end of the 30-day period beginning on the date a notice
    of such determination is published in the Federal Register.
      (C) The Secretary may continue to mint and issue coins in
    accordance with the specifications contained in paragraphs (7),
    (8), (9), and (10) of subsection (a) and paragraph (1)(A) of this
    subsection at the same time the Secretary in minting and issuing
    other bullion and proof gold coins under this subsection in
    accordance with such program procedures and coin specifications,
    designs, varieties, quantities, denominations, and inscriptions as
    the Secretary, in the Secretary's discretion, may prescribe from
    time to time.
      (j) General Waiver of Procurement Regulations. -
        (1) In general. - Except as provided in paragraph (2), no
      provision of law governing procurement or public contracts shall
      be applicable to the procurement of goods or services necessary
      for minting, marketing, or issuing any coin authorized under
      paragraph (7), (8), (9), or (10) of subsection (a) or subsection
      (e), including any proof version of any such coin.
        (2) Equal employment opportunity. - Paragraph (1) shall not
      relieve any person entering into a contract with respect to any
      coin referred to in such paragraph from complying with any law
      relating to equal employment opportunity.
      (k) The Secretary may mint and issue platinum bullion coins and
    proof platinum coins in accordance with such specifications,
    designs, varieties, quantities, denominations, and inscriptions as
    the Secretary, in the Secretary's discretion, may prescribe from
    time to time.
      (l) Redesign and Issuance of Quarter Dollar in Commemoration of
    Each of the 50 States. -
        (1) Redesign beginning in 1999. -
          (A) In general. - Notwithstanding the fourth sentence of
        subsection (d)(1) and subsection (d)(2), quarter dollar coins
        issued during the 10-year period beginning in 1999, shall have
        designs on the reverse side selected in accordance with this
        subsection which are emblematic of the 50 States.
          (B) Transition provision. - Notwithstanding subparagraph (A),
        the Secretary may continue to mint and issue quarter dollars in
        1999 which bear the design in effect before the redesign
        required under this subsection and an inscription of the year
        "1998" as required to ensure a smooth transition into the 10-
        year program under this subsection.
          (C) Flexibility with regard to placement of inscriptions. -
        Notwithstanding subsection (d)(1), the Secretary may select a
        design for quarter dollars issued during the 10-year period
        referred to in subparagraph (A) in which -
            (i) the inscription described in the second sentence of
          subsection (d)(1) appears on the reverse side of any such
          quarter dollars; and
            (ii) any inscription described in the third sentence of
          subsection (d)(1) or the designation of the value of the coin
          appears on the obverse side of any such quarter dollars.
        (2) Single state designs. - The design on the reverse side of
      each quarter dollar issued during the 10-year period referred to
      in paragraph (1) shall be emblematic of 1 of the 50 States.
        (3) Issuance of coins commemorating 5 states during each of the
      10 years. -
          (A) In general. - The designs for the quarter dollar coins
        issued during each year of the 10-year period referred to in
        paragraph (1) shall be emblematic of 5 States selected in the
        order in which such States ratified the Constitution of the
        United States or were admitted into the Union, as the case may
        be.
          (B) Number of each of 5 coin designs in each year. - Of the
        quarter dollar coins issued during each year of the 10-year
        period referred to in paragraph (1), the Secretary of the
        Treasury shall prescribe, on the basis of such factors as the
        Secretary determines to be appropriate, the number of quarter
        dollars which shall be issued with each of the 5 designs
        selected for such year.
        (4) Selection of design. -
          (A) In general. - Each of the 50 designs required under this
        subsection for quarter dollars shall be -
            (i) selected by the Secretary after consultation with -
              (I) the Governor of the State being commemorated, or such
            other State officials or group as the State may designate
            for such purpose; and
              (II) the Commission of Fine Arts; and
            (ii) reviewed by the Citizens Coinage Advisory Committee.
          (B) Selection and approval process. - Designs for quarter
        dollars may be submitted in accordance with the design
        selection and approval process developed by the Secretary in
        the sole discretion of the Secretary.
          (C) Participation. - The Secretary may include participation
        by State officials, artists from the States, engravers of the
        United States Mint, and members of the general public.
          (D) Standards. - Because it is important that the Nation's
        coinage and currency bear dignified designs of which the
        citizens of the United States can be proud, the Secretary shall
        not select any frivolous or inappropriate design for any
        quarter dollar minted under this subsection.
          (E) Prohibition on certain representations. - No head and
        shoulders portrait or bust of any person, living or dead, and
        no portrait of a living person may be included in the design of
        any quarter dollar under this subsection.
        (5) Treatment as numismatic items. - For purposes of sections
      5134 and 5136, all coins minted under this subsection shall be
      considered to be numismatic items.
        (6) Issuance. -
          (A) Quality of coins. - The Secretary may mint and issue such
        number of quarter dollars of each design selected under
        paragraph (4) in uncirculated and proof qualities as the
        Secretary determines to be appropriate.
          (B) Silver coins. - Notwithstanding subsection (b), the
        Secretary may mint and issue such number of quarter dollars of
        each design selected under paragraph (4) as the Secretary
        determines to be appropriate, with a content of 90 percent
        silver and 10 percent copper.
          (C) Sources of bullion. - The Secretary shall obtain silver
        for minting coins under subparagraph (B) from available
        resources, including stockpiles established under the Strategic
        and Critical Materials Stock Piling Act.
        (7) Application in event of the admission of additional states.
      - If any additional State is admitted into the Union before the
      end of the 10-year period referred to in paragraph (1), the
      Secretary of the Treasury may issue quarter dollar coins, in
      accordance with this subsection, with a design which is
      emblematic of such State during any 1 year of such 10-year
      period, in addition to the quarter dollar coins issued during
      such year in accordance with paragraph (3)(A).
      (m) Commemorative Coin Program Restrictions. -
        (1) Maximum number. - Beginning January 1, 1999, the Secretary
      may mint and issue commemorative coins under this section during
      any calendar year with respect to not more than 2 commemorative
      coin programs.
        (2) Mintage levels. -
          (A) In general. - Except as provided in subparagraph (B), in
        carrying out any commemorative coin program, the Secretary
        shall mint -
            (i) not more than 750,000 clad half-dollar coins;
            (ii) not more than 500,000 silver one-dollar coins; and
            (iii) not more than 100,000 gold five-dollar or ten-dollar
          coins.
          (B) Exception. - If the Secretary determines, based on
        independent, market-based research conducted by a designated
        recipient organization of a commemorative coin program, that
        the mintage levels described in subparagraph (A) are not
        adequate to meet public demand for that commemorative coin, the
        Secretary may waive one or more of the requirements of
        subparagraph (A) with respect to that commemorative coin
        program.
          (C) Designated recipient organization defined. - For purposes
        of this paragraph, the term "designated recipient organization"
        means any organization designated, under any provision of law,
        as the recipient of any surcharge imposed on the sale of any
        numismatic item.
      (n) Redesign and Issuance of Circulating $1 Coins Honoring Each
    of the Presidents of the United States. -
        (1) Redesign beginning in 2007. -
          (A) In general. - Notwithstanding subsection (d) and in
        accordance with the provisions of this subsection, $1 coins
        issued during the period beginning January 1, 2007, and ending
        upon the termination of the program under paragraph (8), shall -
            (i) have designs on the obverse selected in accordance with
          paragraph (2)(B) which are emblematic of the Presidents of
          the United States; and
            (ii) have a design on the reverse selected in accordance
          with paragraph (2)(A).
          (B) Continuity provisions. -
            (i) In general. - Notwithstanding subparagraph (A), the
          Secretary shall continue to mint and issue $1 coins which
          bear any design in effect before the issuance of coins as
          required under this subsection (including the so-called
          "Sacagawea-design" $1 coins).
            (ii) Circulation quantity. - Beginning January 1, 2007, and
          ending upon the termination of the program under paragraph
          (8), the Secretary annually shall mint and issue such
          "Sacagawea-design" $1 coins for circulation in quantities of
          no less than (!1/3) of the total $1 coins minted and issued
          under this subsection.".(!1)
        (2) Design requirements. - The $1 coins issued in accordance
      with paragraph (1)(A) shall meet the following design
      requirements:
          (A) Coin reverse. - The design on the reverse shall bear -
            (i) a likeness of the Statue of Liberty extending to the
          rim of the coin and large enough to provide a dramatic
          representation of Liberty while not being large enough to
          create the impression of a "2-headed" coin;
            (ii) the inscription "$1"; and
            (iii) the inscription "United States of America".
          (B) Coin obverse. - The design on the obverse shall contain -
            (i) the name and likeness of a President of the United
          States; and
            (ii) basic information about the President, including -
              (I) the dates or years of the term of office of such
            President; and
              (II) a number indicating the order of the period of
            service in which the President served.
          (C) Edge-incused inscriptions. -
            (i) In general. - The inscription of the year of minting or
          issuance of the coin and the inscriptions "E Pluribus Unum"
          and "In God We Trust" shall be edge-incused into the coin.
            (ii) Preservation of distinctive edge. - The edge-incusing
          of the inscriptions under clause (i) on coins issued under
          this subsection shall be done in a manner that preserves the
          distinctive edge of the coin so that the denomination of the
          coin is readily discernible, including by individuals who are
          blind or visually impaired.
          (D) Inscriptions of "liberty". - Notwithstanding the second
        sentence of subsection (d)(1), because the use of a design
        bearing the likeness of the Statue of Liberty on the reverse of
        the coins issued under this subsection adequately conveys the
        concept of Liberty, the inscription of "Liberty" shall not
        appear on the coins.
          (E) Limitation in series to deceased presidents. - No coin
        issued under this subsection may bear the image of a living
        former or current President, or of any deceased former
        President during the 2-year period following the date of the
        death of that President.
        (3) Issuance of coins commemorating presidents. -
          (A) Order of issuance. - The coins issued under this
        subsection commemorating Presidents of the United States shall
        be issued in the order of the period of service of each
        President, beginning with President George Washington.
          (B) Treatment of period of service. -
            (i) In general. - Subject to clause (ii), only 1 coin
          design shall be issued for a period of service for any
          President, no matter how many consecutive terms of office the
          President served.
            (ii) Nonconsecutive terms. - If a President has served
          during 2 or more nonconsecutive periods of service, a coin
          shall be issued under this subsection for each such
          nonconsecutive period of service.
        (4) Issuance of coins commemorating 4 presidents during each
      year of the period. -
          (A) In general. - The designs for the $1 coins issued during
        each year of the period referred to in paragraph (1) shall be
        emblematic of 4 Presidents until each President has been so
        honored, subject to paragraph (2)(E).
          (B) Number of 4 circulating coin designs in each year. - The
        Secretary shall prescribe, on the basis of such factors as the
        Secretary determines to be appropriate, the number of $1 coins
        that shall be issued with each of the designs selected for each
        year of the period referred to in paragraph (1).
        (5) Legal tender. - The coins minted under this title shall be
      legal tender, as provided in section 5103.
        (6) Treatment as numismatic items. - For purposes of section
      (!2) 5134 and 5136, all coins minted under this subsection shall
      be considered to be numismatic items.
        (7) Issuance of numismatic coins. - The Secretary may mint and
      issue such number of $1 coins of each design selected under this
      subsection in uncirculated and proof qualities as the Secretary
      determines to be appropriate.
        (8) Termination of program. - The issuance of coins under this
      subsection shall terminate when each President has been so
      honored, subject to paragraph (2)(E), and may not be resumed
      except by an Act of Congress.
        (9) Reversion to preceding design. - Upon the termination of
      the issuance of coins under this subsection, the design of all $1
      coins shall revert to the so-called "Sacagawea-design" $1 coins.
      (o) First Spouse Bullion Coin Program. -
        (1) In general. - During the same period described in
      subsection (n), the Secretary shall issue bullion coins under
      this subsection that are emblematic of the spouse of each such
      President.
        (2) Specifications. - The coins issued under this subsection
      shall -
          (A) have the same diameter as the $1 coins described in
        subsection (n);
          (B) weigh 0.5 ounce; and
          (C) contain 99.99 percent pure gold.
        (3) Design requirements. -
          (A) Coin obverse. - The design on the obverse of each coin
        issued under this subsection shall contain -
            (i) the name and likeness of a person who was a spouse of a
          President during the President's period of service;
            (ii) an inscription of the years during which such person
          was the spouse of a President during the President's period
          of service; and
            (iii) a number indicating the order of the period of
          service in which such President served.
          (B) Coin reverse. - The design on the reverse of each coin
        issued under this subsection shall bear -
            (i) images emblematic of the life and work of the First
          Spouse whose image is borne on the obverse; and
            (ii) the inscription "United States of America".
          (C) Designated denomination. - Each coin issued under this
        subsection shall bear, on the reverse, an inscription of the
        nominal denomination of the coin which shall be "$10".
          (D) Design in case of no first spouse. - In the case of any
        President who served without a spouse -
            (i) the image on the obverse of the bullion coin
          corresponding to the $1 coin relating to such President shall
          be an image emblematic of the concept of "Liberty" -
              (I) as represented on a United States coin issued during
            the period of service of such President; or
              (II) as represented, in the case of President Chester
            Alan Arthur, by a design incorporating the name and
            likeness of Alice Paul, a leading strategist in the
            suffrage movement, who was instrumental in gaining women
            the right to vote upon the adoption of the 19th amendment
            and thus the ability to participate in the election of
            future Presidents, and who was born on January 11, 1885,
            during the term of President Arthur; and
            (ii) the reverse of such bullion coin shall be of a design
          representative of themes of such President, except that in
          the case of the bullion coin referred to in clause (i)(II)
          the reverse of such coin shall be representative of the
          suffrage movement.
          (E) Design and coin for each spouse. - A separate coin shall
        be designed and issued under this section for each person who
        was the spouse of a President during any portion of a term of
        office of such President.
          (F) Inscriptions. - Each bullion coin issued under this
        subsection shall bear the inscription of the year of minting or
        issuance of the coin and such other inscriptions as the
        Secretary may determine to be appropriate.
        (4) Sale of bullion coins. - Each bullion coin issued under
      this subsection shall be sold by the Secretary at a price that is
      equal to or greater than the sum of -
          (A) the face value of the coins; and
          (B) the cost of designing and issuing the coins (including
        labor, materials, dies, use of machinery, overhead expenses,
        marketing, and shipping).
        (5) Issuance of coins commemorating first spouses. -
          (A) In general. - The bullion coins issued under this
        subsection with respect to any spouse of a President shall be
        issued on the same schedule as the $1 coin issued under
        subsection (n) with respect to each such President.
          (B) Maximum number of bullion coins for each design. - The
        Secretary shall -
            (i) prescribe, on the basis of such factors as the
          Secretary determines to be appropriate, the maximum number of
          bullion coins that shall be issued with each of the designs
          selected under this subsection; and
            (ii) announce, before the issuance of the bullion coins of
          each such design, the maximum number of bullion coins of that
          design that will be issued.
          (C) Termination of program. - No bullion coin may be issued
        under this subsection after the termination, in accordance with
        subsection (n)(8), of the $1 coin program established under
        subsection (n).
        (6) Quality of coins. - The bullion coins minted under this Act
      shall be issued in both proof and uncirculated qualities.
        (7) Source of gold bullion. -
          (A) In general. - The Secretary shall acquire gold for the
        coins issued under this subsection by purchase of gold mined
        from natural deposits in the United States, or in a territory
        or possession of the United States, within 1 year after the
        month in which the ore from which it is derived was mined.
          (B) Price of gold. - The Secretary shall pay not more than
        the average world price for the gold mined under subparagraph
        (A).
        (8) Bronze medals. - The Secretary may strike and sell bronze
      medals that bear the likeness of the bullion coins authorized
      under this subsection, at a price, size, and weight, and with
      such inscriptions, as the Secretary determines to be appropriate.
        (9) Legal tender. - The coins minted under this title shall be
      legal tender, as provided in section 5103.
        (10) Treatment as numismatic items. - For purposes of section
      (!2) 5134 and 5136, all coins minted under this subsection shall
      be considered to be numismatic items.
      (p) Removal of Barriers to Circulation of $1 Coin. -
        (1) Acceptance by agencies and instrumentalities. - Beginning
      January 1, 2006, all agencies and instrumentalities of the United
      States, the United States Postal Service, all nonappropriated
      fund instrumentalities established under title 10, United States
      Code, all transit systems that receive operational subsidies or
      any disbursement of funds from the Federal Government, such as
      funds from the Federal Highway Trust Fund, including the Mass
      Transit Account, and all entities that operate any business,
      including vending machines, on any premises owned by the United
      States or under the control of any agency or instrumentality of
      the United States, including the legislative and judicial
      branches of the Federal Government, shall take such action as may
      be appropriate to ensure that by the end of the 2-year period
      beginning on such date -
          (A) any business operations conducted by any such agency,
        instrumentality, system, or entity that involve coins or
        currency will be fully capable of accepting and dispensing $1
        coins in connection with such operations; and
          (B) displays signs and notices denoting such capability on
        the premises where coins or currency are accepted or dispensed,
        including on each vending machine.
        (2) Publicity. - The Director of the United States Mint,(!3)
      shall work closely with consumer groups, media outlets, and
      schools to ensure an adequate amount of news coverage, and other
      means of increasing public awareness, of the inauguration of the
      Presidential $1 Coin Program established in subsection (n) to
      ensure that consumers know of the availability of the coin.
        (3) Coordination. - The Board of Governors of the Federal
      Reserve System and the Secretary shall take steps to ensure that
      an adequate supply of $1 coins is available for commerce and
      collectors at such places and in such quantities as are
      appropriate by -
          (A) consulting, to accurately gauge demand for coins and to
        anticipate and eliminate obstacles to the easy and efficient
        distribution and circulation of $1 coins as well as all other
        circulating coins, from time to time but no less frequently
        than annually, with a coin users group, which may include -
            (i) representatives of merchants who would benefit from the
          increased usage of $1 coins;
            (ii) vending machine and other coin acceptor manufacturers;
            (iii) vending machine owners and operators;
            (iv) transit officials;
            (v) municipal parking officials;
            (vi) depository institutions;
            (vii) coin and currency handlers;
            (viii) armored-car operators;
            (ix) car wash operators; and
            (x) coin collectors and dealers;
          (B) submitting an annual report to the Congress containing -
            (i) an assessment of the remaining obstacles to the
          efficient and timely circulation of coins, particularly $1
          coins;
            (ii) an assessment of the extent to which the goals of
          subparagraph (C) are being met; and
            (iii) such recommendations for legislative action the Board
          and the Secretary may determine to be appropriate;
          (C) consulting with industry representatives to encourage
        operators of vending machines and other automated coin-
        accepting devices in the United States to accept coins issued
        under the Presidential $1 Coin Program established under
        subsection (n) and any coins bearing any design in effect
        before the issuance of coins required under subsection (n)
        (including the so-called "Sacagawea-design" $1 coins), and to
        include notices on the machines and devices of such
        acceptability;
          (D) ensuring that -
            (i) during an introductory period, all institutions that
          want unmixed supplies of each newly-issued design of $1 coins
          minted under subsections (n) and (o) are able to obtain such
          unmixed supplies; and
            (ii) circulating coins will be available for ordinary
          commerce in packaging of sizes and types appropriate for and
          useful to ordinary commerce, including rolled coins;
          (E) working closely with any agency, instrumentality, system,
        or entity referred to in paragraph (1) to facilitate compliance
        with the requirements of such paragraph; and
          (F) identifying, analyzing, and overcoming barriers to the
        robust circulation of $1 coins minted under subsections (n) and
        (o), including the use of demand prediction, improved methods
        of distribution and circulation, and improved public education
        and awareness campaigns.
        (4) Bullion dealers. - The Director of the United States Mint
      shall take all steps necessary to ensure that a maximum number of
      reputable, reliable, and responsible dealers are qualified to
      offer for sale all bullion coins struck and issued by the United
      States Mint.
        (5) Review of co-circulation. - At such time as the Secretary
      determines to be appropriate, and after consultation with the
      Board of Governors of the Federal Reserve System, the Secretary
      shall notify the Congress of its assessment of issues related to
      the co-circulation of any circulating $1 coin bearing any design,
      other than the so-called "Sacagawea-design" $1 coin, in effect
      before the issuance of coins required under subsection (n),
      including the effect of co-circulation on the acceptance and use
      of $1 coins, and make recommendations to the Congress for
      improving the circulation of $1 coins.
      (q) Gold Bullion Coins. -
        (1) In general. - Not later than 6 months after the date of
      enactment of the Presidential $1 Coin Act of 2005, the Secretary
      shall commence striking and issuing for sale such number of $50
      gold bullion and proof coins as the Secretary may determine to be
      appropriate, in such quantities, as the Secretary, in the
      Secretary's discretion, may prescribe.
        (2) Initial design. -
          (A) In general. - Except as provided under subparagraph (B),
        the obverse and reverse of the gold bullion coins struck under
        this subsection during the first year of issuance shall bear
        the original designs by James Earle Fraser, which appear on the
        5-cent coin commonly referred to as the "Buffalo nickel" or the
        "1913 Type 1".
          (B) Variations. - The coins referred to in subparagraph (A)
        shall -
            (i) have inscriptions of the weight of the coin and the
          nominal denomination of the coin incused in that portion of
          the design on the reverse of the coin commonly known as the
          "grassy mound"; and
            (ii) bear such other inscriptions as the Secretary
          determines to be appropriate.
        (3) Subsequent designs. - After the 1-year period described to
      in paragraph (2), the Secretary may -
          (A) after consulting with the Commission of Fine Arts, and
        subject to the review of the Citizens Coinage Advisory
        Committee, change the design on the obverse or reverse of gold
        bullion coins struck under this subsection; and
          (B) change the maximum number of coins issued in any year.
        (4) Source of gold bullion. -
          (A) In general. - The Secretary shall acquire gold for the
        coins issued under this subsection by purchase of gold mined
        from natural deposits in the United States, or in a territory
        or possession of the United States, within 1 year after the
        month in which the ore from which it is derived was mined.
          (B) Price of gold. - The Secretary shall pay not more than
        the average world price for the gold mined under subparagraph
        (A).
        (5) Sale of coins. - Each gold bullion coin issued under this
      subsection shall be sold for an amount the Secretary determines
      to be appropriate, but not less than the sum of -
          (A) the market value of the bullion at the time of sale; and
          (B) the cost of designing and issuing the coins, including
        labor, materials, dies, use of machinery, overhead expenses,
        marketing, and shipping.
        (6) Legal tender. - The coins minted under this title shall be
      legal tender, as provided in section 5103.
        (7) Treatment as numismatic items. - For purposes of section
      (!2) 5134 and 5136, all coins minted under this subsection shall
      be considered to be numismatic items.
        (8) Protective covering. -
          (A) In general. - Each bullion coin having a metallic content
        as described in subsection (a)(11) and a design specified in
        paragraph (2) shall be sold in an inexpensive covering that
        will protect the coin from damage due to ordinary handling or
        storage.
          (B) Design. - The protective covering required under
        subparagraph (A) shall be readily distinguishable from any coin
        packaging that may be used to protect proof coins minted and
        issued under this subsection.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 981; Pub. L. 97-452, Sec.
    1(20), Jan. 12, 1983, 96 Stat. 2477; Pub. L. 99-61, title II, Sec.
    202, July 9, 1985, 99 Stat. 115; Pub. L. 99-185, Sec. 2(a), (b),
    Dec. 17, 1985, 99 Stat. 1177; Pub. L. 100-274, Secs. 4(a), 6, Mar.
    31, 1988, 102 Stat. 50; Pub. L. 102-390, title II, Secs. 226(a),
    227, 228, Oct. 6, 1992, 106 Stat. 1630; Pub. L. 103-272, Sec.
    4(f)(1)(R), July 5, 1994, 108 Stat. 1362; Pub. L. 104-208, div. A,
    title I, Sec. 101(f) [title V, Secs. 523, 524, 529(a)], Sept. 30,
    1996, 110 Stat. 3009-314, 3009-347 to 3009-349; Pub. L. 105-124,
    Secs. 3, 4(b)-(d), Dec. 1, 1997, 111 Stat. 2534, 2536; Pub. L. 105-
    176, May 29, 1998, 112 Stat. 104; Pub. L. 106-445, Sec. 2(b), Nov.
    6, 2000, 114 Stat. 1931; Pub. L. 108-15, title I, Secs. 102,
    103(d)(1), Apr. 23, 2003, 117 Stat. 615, 619; Pub. L. 109-145,
    title I, Secs. 102-104, title II, Sec. 201, Dec. 22, 2005, 119
    Stat. 2665-2669, 2672.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
                                 1982 ACT
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5112(a)      31:317(a)(1st, last     R.S. Sec. 3515(a); Sept. 26,
                  sentences).             1890, ch. 945, Sec. 1, 26
                                          Stat. 485; Sept. 5, 1962, Pub.
                                          L. 87-643, Sec. 1, 76 Stat.
                                          440; Oct. 11, 1974, Pub. L.
                                          93-441, Sec. 1, 88 Stat. 1261.
                 31:391(c).              July 23, 1965, Pub. L. 89-81,
                                          Sec. 101(c), 79 Stat. 255;
                                          restated Dec. 31, 1970, Pub.
                                          L. 91-607, Sec. 201, 84 Stat.
                                          1768; Oct. 10, 1978, Pub. L.
                                          95-447, Sec. 2, 92 Stat. 1072.
    5112(b)      31:317(a)(2d, 3d
                  sentences).
                 31:346.                 R.S. Sec. 3533; June 14, 1947,
                                          ch. 104, Sec. 1, 61 Stat. 132.
                 31:391(b).              July 23, 1965, Pub. L. 89-81,
                                          Sec. 101(b), (d), 79 Stat.
                                          254; restated Dec. 31, 1970,
                                          Pub. L. 91-607, Sec. 201, 84
                                          Stat. 1768.
                 31:398(1)-(4), (6).     July 23, 1965, Pub. L. 89-81,
                                          Sec. 108(1)-(4), (6), 79 Stat.
                                          255.
    5112(c)      31:317(b).              R.S. Sec. 3515(b); added Oct.
                                          11, 1974, Pub. L. 93-441, Sec.
                                          1, 88 Stat. 1261.
    5112(d)(     31:324.                 R.S. Sec. 3517; Mar. 3, 1887,
     1)                                   ch. 396, Sec. 3, 24 Stat. 635;
                                          Sept. 26, 1890, ch. 945, Sec.
                                          1, 26 Stat. 485; May 18, 1908,
                                          ch. 173, 35 Stat. 164;
                                          restated July 23, 1965, Pub.
                                          L. 89-81, Sec. 204(a), 79
                                          Stat. 256; Dec. 31, 1970, Pub.
                                          L. 91-607, Sec. 206, 84 Stat.
                                          1769.
                 31:324b-1.              Oct. 10, 1978, Pub. L. 95-447,
                                          Sec. 3, 92 Stat. 1072.
    5112(d)(     31:276.                 R.S. Sec. 3510; restated Sept.
     2)                                   26, 1890, ch. 944, 26 Stat.
                                          484.
    5112(e)      31:324b.                Dec. 31, 1970, Pub. L. 91-607,
                                          Sec. 203, 84 Stat. 1769; Oct.
                                          10, 1978, Pub. L. 95-447, Sec.
                                          4, 92 Stat. 1072.
                 31:324c.                Dec. 31, 1970, Pub. L. 91-607,
                                          Sec. 209, 84 Stat. 1769.
                 31:391(d).
                 31:398(3), (4).
    5112(f)      31:321.                 R.S. Sec. 3514; Jan. 30, 1934,
                                          ch. 6, Sec. 5, 48 Stat. 340.
                 31:399.                 July 23, 1965, Pub. L. 89-81,
                                          79 Stat. 254, Sec. 109; added
                                          Dec. 23, 1981, Pub. L. 97-104,
                                          Sec. 2, 95 Stat. 1491.
    --------------------------------------------------------------------
      In subsection (a), the words before clause (1) are added because
    of the restatement. In clause (5), the words "that is 0.835 inch in
    diameter" are added because the Secretary of the Treasury has
    prescribed the diameter and the diameter of a coin may not be
    changed under 31:276. The words "5 grams" are substituted for
    "seventy-seven and sixteen-hundredths grains troy" for consistency
    in the revised chapter. In clause (6), the words "that is 0.75 inch
    in diameter" are added because the Secretary has prescribed the
    diameter and the diameter of a coin may not be changed under
    31:276. The words "except as provided under subsection (c) of this
    section" are added for clarity and because of the restatement. The
    words "3.11 grams" are substituted for "forty-eight grains" for
    consistency in the revised chapter.
      In subsection (b), the words "In minting 5-cent coins" are
    substituted for "in minor-coinage alloys" in 31:346 because 5-cent
    coins are the minor coins composed of nickel. The words "Secretary
    shall use" are substituted for "shall be used" because of the
    source provisions restated in section 321 of the revised title. The
    word "bars" is substituted for "ingots" for consistency in the
    revised chapter. The words "2.5 percent" are substituted for
    "twenty-five thousandths" for consistency in the revised title and
    with other titles of the United States Code. The words "from the
    percent of nickel required" are substituted for "the legal standard
    . . . in the proportion of nickel" because of the restatement. The
    words "In silver ingots, six-thousandths" are omitted as superseded
    by the source provisions restated in the section. The words "In
    gold ingots, one-thousandth" in section 3533 of the Revised
    Statutes are omitted because gold coinage was discontinued by
    31:315b. The words "Except as provided in subsection (c) of this
    section" are added for clarity and because of the restatement.
      In subsection (c), the words "a different weight and alloy of
    copper and zinc" are substituted for "such action" for clarity.
      In subsection (d)(1), the words "an impression emblematic of
    liberty" in 31:324 are omitted as obsolete. The words "The design
    on the reverse side of the dollar, half dollar, and quarter dollar
    is an eagle" are substituted for "and upon the reverse side shall
    be the figure or representation of an eagle . . . but on the dime,
    5-, and 1-cent piece, the figure of the eagle shall be omitted",
    and the words "The emblem on the obverse side of the dollar is" are
    substituted for "The one-dollar coin authorized by section 391(c)
    of this title shall bear on the obverse side" in 31:324b-1, to
    eliminate unnecessary words. The words "Any coins minted after July
    23, 1965, from 900 fine coin silver shall be inscribed with the
    year 1964" in 31:324 are omitted because the Secretary no longer
    has authority to mint coins from 900 fine coin silver.
      In subsection (d)(2), the word "Secretary" is substituted for
    "engraver", "Director of the Mint", and "Director of the Mint . . .
    with the approval of the Secretary of the Treasury" because of the
    source provisions restated in section 321(c) of the revised title.
    The word "dies" is substituted for "from the original dies already
    authorized all the working dies required for use in the coinage of
    the several mints" and "original dies" to eliminate unnecessary
    words. The word "inscription" is substituted for "legend" for
    consistency in the section. The words "Provided, That no change be
    made in the diameter of any coin" are omitted as unnecessary
    because the diameters are prescribed by subsection (a) of the
    revised section. The words "procure services under section 3109 of
    title 5 in carrying out this paragraph" are substituted for "engage
    temporarily for this purpose the services of one or more artists,
    distinguished in their respective departments of art" to eliminate
    unnecessary words. The words "who shall be paid for such service
    from the contingent appropriation for the mint at Philadelphia" are
    omitted as obsolete. The text of section 3510(2d proviso) of the
    Revised Statutes is omitted as executed.
      In subsection (e)(2), the words "80 percent" are substituted for
    "eight hundred parts" in 31:391(d), and the words "20 percent" are
    substituted for "two hundred parts", for consistency in the revised
    title and with other titles of the Code. The words "that are
    metallurgically bonded to" are added for clarity and consistency
    with subsection (b). In clause (4), the words "the late President
    of the United States" in 31:324b are omitted as unnecessary. Clause
    (6) is added because 31:324 applies to coins minted under this
    subsection.
      In subsection (f)(1), before clause (A), the words
    "Notwithstanding this section and section 5111(a)(1) of this title
    are substituted for "Notwithstanding any other provision of law" in
    31:399 for clarity. In clause (B), the words "are an alloy of 90
    percent silver and 10 percent copper" are substituted for "be
    minted in accordance with the standard established in section 3514
    of the Revised Statutes (31 U.S.C. 321)" and 31:321 to eliminate
    unnecessary words and for clarity. In clause (C), the word
    "symbolizing" is substituted for "emblematic" for clarity.
      In subsection (f)(2), the words "under such regulations as he may
    prescribe" are omitted as unnecessary because of section 321 of the
    revised title. The word "Treasury" is substituted for "general fund
    of the Treasury" to eliminate unnecessary words.
      The text of 31:399(b)(3) is omitted as unnecessary because of
    section 5103 of the revised title.
                                 1983 ACT
      This amends 31:5112(f)(1) to make technical and conforming
    changes.
-REFTEXT-
                            REFERENCES IN TEXT
      The date of enactment of the United States $1 Coin Act of 1997,
    referred to in subsec. (b), is the date of enactment of Pub. L. 105-
    124, which was approved Dec. 1, 1997.
      The Strategic and Critical Materials Stock Piling Act, referred
    to in subsec. (l)(6)(C), is act June 7, 1939, ch. 190, as revised
    generally by Pub. L. 96-41, Sec. 2, July 30, 1979, 93 Stat. 319,
    which is classified generally to subchapter III (Sec. 98 et seq.)
    of chapter 5 of Title 50, War and National Defense. For complete
    classification of this Act to the Code, see section 98 of Title 50
    and Tables.
      This Act, referred to in subsec. (o)(6), probably means Pub. L.
    109-145, Dec. 22, 2005, 119 Stat. 2664, known as the Presidential
    $1 Coin Act of 2005, which amended this section and enacted
    provisions set out as notes under this section. For complete
    classification of this Act to the Code, see Short Title of 2005
    Amendment note set out under section 5101 of this title and Tables.
      The date of enactment of the Presidential $1 Coin Act of 2005,
    referred to in subsec. (q)(1), is the date of enactment of Pub. L.
    109-145, which was approved Dec. 22, 2005.
-MISC2-
                                AMENDMENTS
      2005 - Subsec. (a)(11). Pub. L. 109-145, Sec. 201(1), added par.
    (11).
      Subsec. (n). Pub. L. 109-145, Sec. 102, added subsec. (n).
      Subsec. (o). Pub. L. 109-145, Sec. 103, added subsec. (o).
      Subsec. (p). Pub. L. 109-145, Sec. 104, added subsec. (p).
      Subsec. (q). Pub. L. 109-145, Sec. 201(2), added subsec. (q).
      2003 - Subsec. (d)(1). Pub. L. 108-15, Sec. 102(a), inserted
    after fourth sentence "Subject to other provisions of this
    subsection, the obverse of any 5-cent coin issued after December
    31, 2005, shall bear the likeness of Thomas Jefferson and the
    reverse of any such 5-cent coin shall bear an image of the home of
    Thomas Jefferson at Monticello."
      Subsec. (d)(2). Pub. L. 108-15, Sec. 102(b), inserted ", after
    consulting with the Citizens Coinage Advisory Committee and the
    Commission of Fine Arts," after "The Secretary may" in second
    sentence.
      Subsec. (l)(4)(A)(ii). Pub. L. 108-15, Sec. 103(d)(1),
    substituted "Citizens Coinage Advisory Committee" for "Citizens
    Commemorative Coin Advisory Committee".
      2000 - Subsec. (k). Pub. L. 106-445 substituted "platinum bullion
    coins" for "bullion".
      1998 - Subsec. (l)(1)(C). Pub. L. 105-176 added subpar. (C).
      1997 - Subsec. (a)(1). Pub. L. 105-124, Sec. 4(b), struck out
    "and weighs 8.1 grams" after "diameter".
      Subsec. (b). Pub. L. 105-124, Sec. 4(c), struck out "dollar,"
    before "half dollar" in first sentence and inserted after fourth
    sentence "The dollar coin shall be golden in color, have a
    distinctive edge, have tactile and visual features that make the
    denomination of the coin readily discernible, be minted and
    fabricated in the United States, and have similar metallic, anti-
    counterfeiting properties as United States coinage in circulation
    on the date of enactment of the United States $1 Coin Act of 1997."
      Subsec. (d)(1). Pub. L. 105-124, Sec. 4(d), substituted "The
    Secretary of the Treasury, in consultation with the Congress, shall
    select appropriate designs for the obverse and reverse sides of the
    dollar coin." for "The eagle on the reverse side of the dollar is
    the symbolic eagle of Apollo 11 landing on the moon. The obverse
    side of the dollar has the likeness of Susan B. Anthony."
      Subsec. (l). Pub. L. 105-124, Sec. 3, added subsec. (l).
      1996 - Subsec. (i)(4)(C). Pub. L. 104-208, Sec. 101(f) [title V,
    Sec. 523], added subpar. (C).
      Subsec. (k). Pub. L. 104-208, Sec. 101(f) [title V, Sec. 524],
    added subsec. (k).
      Subsec. (m). Pub. L. 104-208, Sec. 101(f) [title V, Sec. 529(a)],
    added subsec. (m).
      1994 - Subsec. (h). Pub. L. 103-272 substituted "section 5103 of
    this title" for "section 5103 of title 31, United States Code".
      1992 - Subsec. (d)(1). Pub. L. 102-390, Sec. 226(a), inserted
    "shall" before "have" in first sentence and substituted "coin shall
    have" for "coin has" in second and third sentences.
      Subsec. (i)(4). Pub. L. 102-390, Sec. 228, added par. (4).
      Subsec. (j). Pub. L. 102-390, Sec. 227, added subsec. (j).
      1988 - Subsec. (b). Pub. L. 100-274, Sec. 4(a), inserted before
    last sentence "In minting gold coins, the Secretary shall use
    alloys that vary not more than 0.1 percent from the percent of gold
    required."
      Subsec. (f). Pub. L. 100-274, Sec. 6, inserted heading and
    amended subsec. (f) generally. Prior to amendment, subsec. (f) read
    as follows: "The Secretary shall sell the coins minted under
    subsection (e) to the public at a price equal to the market value
    of the bullion at the time of sale, plus the cost of minting,
    marketing, and distributing such coins (including labor, materials,
    dyes, use of machinery, and overhead expenses)."
      1985 - Subsec. (a)(7) to (10). Pub. L. 99-185, Sec. 2(a), added
    pars. (7) to (10).
      Subsec. (e). Pub. L. 99-61 added subsec. (e). Former subsec. (e),
    providing for the minting of 150,000,000 silver and copper alloy
    dollar coins bearing the likeness of Dwight David Eisenhower, was
    struck out.
      Subsec. (f). Pub. L. 99-61 added subsec. (f). Former subsec. (f),
    providing for the minting of up to 10,000,000 silver and copper
    alloy half-dollar coins symbolizing the 250th anniversary of the
    birth of George Washington, was struck out.
      Subsecs. (g), (h). Pub. L. 99-61 added subsecs. (g) and (h).
      Subsec. (i). Pub. L. 99-185, Sec. 2(b), added subsec. (i).
      1983 - Subsec. (f)(1). Pub. L. 97-452, Sec. 1(20)(A), inserted a
    comma after "10,000,000)" in introductory text.
      Subsec. (f)(1)(C). Pub. L. 97-452, Sec. 1(20)(B), substituted
    "250th" for "two hundred and fiftieth".
                     EFFECTIVE DATE OF 1996 AMENDMENT
      Section 101(f) [title V, Sec. 529(e)] of Pub. L. 104-208,
    provided that: "This section [amending this section and sections
    5134 and 5135 of this title, enacting provisions set out as a note
    under section 5134 of this title, and amending provisions set out
    as a note under this section] and the amendments made by this
    section shall take effect on the date of enactment of this Act
    [Sept. 30, 1996]."
                     EFFECTIVE DATE OF 1985 AMENDMENTS
      Section 3 of Pub. L. 99-185 provided that: "This Act [amending
    this section and sections 5116, 5118, and 5132 of this title and
    enacting provisions set out as notes under this section] shall take
    effect on October 1, 1985, except that no coins may be issued or
    sold under section 5112(i) of title 31, United States Code, before
    October 1, 1986."
      Section 205 of title II of Pub. L. 99-61 provided that: "This
    title [amending this section and sections 5116 and 5132 of this
    title and enacting provisions set out as a note under this section]
    shall take effect on October 1, 1985, except that no coins may be
    issued or sold under subsection (e) of section 5112 of title 31,
    United States Code, before September 1, 1986, or before the date on
    which all coins minted under title I of this Act [set out as a note
    below] have been sold, whichever is earlier."
                      SHORT TITLE OF 1985 AMENDMENTS
      Section 1 of Pub. L. 99-185 provided that: "This Act [amending
    this section and sections 5116, 5118, and 5132 of this title and
    enacting provisions set out as notes under this section] may be
    cited as the 'Gold Bullion Coin Act of 1985'."
      Section 201 of title II of Pub. L. 99-61 provided that: "This
    title [amending this section and sections 5116 and 5132 of this
    title and enacting provisions set out as a note under this section]
    may be cited as the 'Liberty Coin Act'."
                   5-CENT COINS MINTED IN 2004 AND 2005
      Pub. L. 109-230, Sec. 8, June 15, 2006, 120 Stat. 393, provided
    that: "Notwithstanding the fifth sentence of section 5112(d)(1) of
    title 31, United States Code, the Secretary of the Treasury may
    continue to issue, after December 31, 2005, numismatic items that
    contain 5-cent coins minted in the years 2004 and 2005."
             PRESIDENTIAL COMMEMORATIVE DOLLAR COINS; FINDINGS
      Pub. L. 109-145, title I, Sec. 101, Dec. 22, 2005, 119 Stat.
    2664, provided that: "Congress finds the following:
        "(1) There are sectors of the United States economy, including
      public transportation, parking meters, vending machines, and low-
      dollar value transactions, in which the use of a $1 coin is both
      useful and desirable for keeping costs and prices down.
        "(2) For a variety of reasons, the new $1 coin introduced in
      2000 has not been widely sought-after by the public, leading to
      higher costs for merchants and thus higher prices for consumers.
        "(3) The success of the 50 States Commemorative Coin Program
      (31 U.S.C. 5112(l)) for circulating quarter dollars shows that a
      design on a United States circulating coin that is regularly
      changed in a manner similar to the systematic change in designs
      in such Program radically increases demand for the coin, rapidly
      pulling it through the economy.
        "(4) The 50 States Commemorative Coin Program also has been an
      educational tool, teaching both Americans and visitors something
      about each State for which a quarter has been issued.
        "(5) A national survey and study by the Government
      Accountability Office has indicated that many Americans who do
      not seek, or who reject, the new $1 coin for use in commerce
      would actively seek the coin if an attractive, educational
      rotating design were to be struck on the coin.
        "(6) The President is the leader of our tripartite government
      and the President's spouse has often set the social tone for the
      White House while spearheading and highlighting important issues
      for the country.
        "(7) Sacagawea, as currently represented on the new $1 coin, is
      an important symbol of American history.
        "(8) Many people cannot name all of the Presidents, and fewer
      can name the spouses, nor can many people accurately place each
      President in the proper time period of American history.
        "(9) First Spouses have not generally been recognized on
      American coinage.
        "(10) In order to revitalize the design of United States
      coinage and return circulating coinage to its position as not
      only a necessary means of exchange in commerce, but also as an
      object of aesthetic beauty in its own right, it is appropriate to
      move many of the mottos and emblems, the inscription of the year,
      and the so-called 'mint marks' that currently appear on the 2
      faces of each circulating coin to the edge of the coin, which
      would allow larger and more dramatic artwork on the coins
      reminiscent of the so-called 'Golden Age of Coinage' in the
      United States, at the beginning of the Twentieth Century,
      initiated by President Theodore Roosevelt, with the assistance of
      noted sculptors and medallic artists James Earle Fraser and
      Augustus Saint-Gaudens.
        "(11) Placing inscriptions on the edge of coins, known as edge-
      incusing, is a hallmark of modern coinage and is common in large-
      volume production of coinage elsewhere in the world, such as the
      2,700,000,000 2-Euro coins in circulation, but it has not been
      done on a large scale in United States coinage in recent years.
        "(12) Although the Congress has authorized the Secretary of the
      Treasury to issue gold coins with a purity of 99.99 percent, the
      Secretary has not done so.
        "(13) Bullion coins are a valuable tool for the investor and,
      in some cases, an important aspect of coin collecting."
             ABRAHAM LINCOLN BICENTENNIAL 1-CENT COIN REDESIGN
      Pub. L. 109-145, title III, Dec. 22, 2005, 119 Stat. 2673,
    provided that:
      "SEC. 301. FINDINGS.
      "Congress finds the following:
        "(1) Abraham Lincoln, the 16th President, was one of the
      Nation's greatest leaders, demonstrating true courage during the
      Civil War, one of the greatest crises in the Nation's history.
        "(2) Born of humble roots in Hardin County (present-day LaRue
      County), Kentucky, on February 12, 1809, Abraham Lincoln rose to
      the Presidency through a combination of honesty, integrity,
      intelligence, and commitment to the United States.
        "(3) With the belief that all men are created equal, Abraham
      Lincoln led the effort to free all slaves in the United States.
        "(4) Abraham Lincoln had a generous heart, with malice toward
      none, and with charity for all.
        "(5) Abraham Lincoln gave the ultimate sacrifice for the
      country he loved, dying from an assassin's bullet on April 15,
      1865.
        "(6) All Americans could benefit from studying the life of
      Abraham Lincoln, for Lincoln's life is a model for accomplishing
      the 'American dream' through honesty, integrity, loyalty, and a
      lifetime of education.
        "(7) The year 2009 will be the bicentennial anniversary of the
      birth of Abraham Lincoln.
        "(8) Abraham Lincoln was born in Kentucky, grew to adulthood in
      Indiana, achieved fame in Illinois, and led the nation in
      Washington, D.C.
        "(9) The so-called 'Lincoln cent' was introduced in 1909 on the
      100th anniversary of Lincoln's birth, making the obverse design
      the most enduring on the nation's coinage.
        "(10) President Theodore Roosevelt was so impressed by the
      talent of Victor David Brenner that the sculptor was chosen to
      design the likeness of President Lincoln for the coin, adapting a
      design from a plaque Brenner had prepared earlier.
        "(11) In the nearly 100 years of production of the 'Lincoln
      cent', there have been only 2 designs on the reverse: the
      original, featuring 2 wheat-heads in memorial style enclosing
      mottoes, and the current representation of the Lincoln Memorial
      in Washington, D.C.
        "(12) On the occasion of the bicentennial of President
      Lincoln's birth and the 100th anniversary of the production of
      the Lincoln cent, it is entirely fitting to issue a series of 1-
      cent coins with designs on the reverse that are emblematic of
      the 4 major periods of President Lincoln's life.
      "SEC. 302. REDESIGN OF LINCOLN CENT FOR 2009.
      "(a) In General. - During the year 2009, the Secretary of the
    Treasury shall issue 1-cent coins in accordance with the following
    design specifications:
        "(1) Obverse. - The obverse of the 1-cent coin shall continue
      to bear the Victor David Brenner likeness of President Abraham
      Lincoln.
        "(2) Reverse. - The reverse of the coins shall bear 4 different
      designs each representing a different aspect of the life of
      Abraham Lincoln, such as -
          "(A) his birth and early childhood in Kentucky;
          "(B) his formative years in Indiana;
          "(C) his professional life in Illinois; and
          "(D) his presidency, in Washington, D.C.
      "(b) Issuance of Redesigned Lincoln Cents in 2009. -
        "(1) Order. - The 1-cent coins to which this section applies
      shall be issued with 1 of the 4 designs referred to in subsection
      (a)(2) beginning at the start of each calendar quarter of 2009.
        "(2) Number. - The Secretary shall prescribe, on the basis of
      such factors as the Secretary determines to be appropriate, the
      number of 1-cent coins that shall be issued with each of the
      designs selected for each calendar quarter of 2009.
      "(c) Design Selection. - The designs for the coins specified in
    this section shall be chosen by the Secretary -
        "(1) after consultation with the Abraham Lincoln Bicentennial
      Commission and the Commission of Fine Arts; and
        "(2) after review by the Citizens Coinage Advisory Committee.
      "SEC. 303. REDESIGN OF REVERSE OF 1-CENT COINS AFTER 2009.
      "The design on the reverse of the 1-cent coins issued after
    December 31, 2009, shall bear an image emblematic of President
    Lincoln's preservation of the United States of America as a single
    and united country.
      "SEC. 304. NUMISMATIC PENNIES WITH THE SAME METALLIC CONTENT AS
        THE 1909 PENNY.
      "The Secretary of the Treasury shall issue 1-cent coins in 2009
    with the exact metallic content as the 1-cent coin contained in
    1909 in such number as the Secretary determines to be appropriate
    for numismatic purposes.
      "SEC. 305. SENSE OF THE CONGRESS.
      "It is the sense of the Congress that the original Victor David
    Brenner design for the 1-cent coin was a dramatic departure from
    previous American coinage that should be reproduced, using the
    original form and relief of the likeness of Abraham Lincoln, on the
    1-cent coins issued in 2009."
                        DESIGNS ON THE 5-CENT COIN
      Pub. L. 108-15, title I, Sec. 101, Apr. 23, 2003, 117 Stat. 615,
    provided that:
      "(a) In General. - Subject to subsection (b) and after consulting
    with the Citizens Coinage Advisory Committee and the Commission of
    Fine Arts, the Secretary of the Treasury may change the design on
    the obverse and the reverse of the 5-cent coin for coins issued in
    2003, 2004, and 2005 in recognition of the bicentennial of the
    Louisiana Purchase and the expedition of Meriwether Lewis and
    William Clark.
      "(b) Design Specifications. -
        "(1) Obverse. - If the Secretary of the Treasury elects to
      change the obverse of 5-cent coins issued during 2003, 2004, and
      2005, the design shall depict a likeness of President Thomas
      Jefferson, different from the likeness that appeared on the
      obverse of the 5-cent coins issued during 2002, in recognition of
      his role with respect to the Louisiana Purchase and the
      commissioning of the Lewis and Clark expedition.
        "(2) Reverse. - If the Secretary of the Treasury elects to
      change the reverse of the 5-cent coins issued during 2003, 2004,
      and 2005, the design selected shall depict images that are
      emblematic of the Louisiana Purchase or the expedition of
      Meriwether Lewis and William Clark.
        "(3) Other inscriptions. - 5-cent coins issued during 2003,
      2004, and 2005 shall continue to meet all other requirements for
      inscriptions and designations applicable to circulating coins
      under section 5112(d)(1) of title 31, United States Code."
     STUDY AND REPORT OF IMPACT ON UNITED STATES SILVER MARKET OF THE
                   AMERICAN EAGLE SILVER BULLION PROGRAM
      Pub. L. 107-201, Sec. 3(b), July 23, 2002, 116 Stat. 737,
    provided that:
      "(1) Study. - The Secretary of the Treasury shall conduct a study
    of the impact on the United States silver market of the American
    Eagle Silver Bullion Program, established under section 5112(e) of
    title 31, United States Code.
      "(2) Report. - Not later than 1 year after the date of enactment
    of this Act [July 23, 2002], the Secretary of the Treasury shall
    submit a report of the study conducted under paragraph (1) to the
    chairman and ranking minority member of -
        "(A) the Committee on Banking, Housing, and Urban Affairs of
      the Senate; and
        "(B) the Committee on Financial Services of the House of
      Representatives."
                                 FINDINGS
      Pub. L. 105-124, Sec. 2, Dec. 1, 1997, 111 Stat. 2534, provided
    that: "The Congress finds that -
        "(1) it is appropriate and timely -
          "(A) to honor the unique Federal republic of 50 States that
        comprise the United States; and
          "(B) to promote the diffusion of knowledge among the youth of
        the United States about the individual States, their history
        and geography, and the rich diversity of the national heritage;
        "(2) the circulating coinage of the United States has not been
      modernized during the 25-year period preceding the date of
      enactment of this Act [Dec. 1, 1997];
        "(3) a circulating commemorative 25-cent coin program could
      produce earnings of $110,000,000 from the sale of silver proof
      coins and sets over the 10-year period of issuance, and would
      produce indirect earnings of an estimated $2,600,000,000 to
      $5,100,000,000 to the United States Treasury, money that will
      replace borrowing to fund the national debt to at least that
      extent; and
        "(4) it is appropriate to launch a commemorative circulating
      coin program that encourages young people and their families to
      collect memorable tokens of all of the States for the face value
      of the coins."
                               DOLLAR COINS
      Pub. L. 105-124, Sec. 4(e), (f), Dec. 1, 1997, 111 Stat. 2536,
    2537, provided that:
      "(e) Production of New Dollar Coins. -
        "(1) In general. - Upon the depletion of the Government's
      supply (as of the date of enactment of this Act [Dec. 1, 1997])
      of $1 coins bearing the likeness of Susan B. Anthony, the
      Secretary of the Treasury shall place into circulation $1 coins
      that comply with the requirements of subsections (b) and (d)(1)
      of section 5112 of title 31, United States Code, as amended by
      this section.
        "(2) Authority of secretary to continue production. - If the
      supply of $1 coins bearing the likeness of Susan B. Anthony is
      depleted before production has begun of $1 coins which bear a
      design which complies with the requirements of subsections (b)
      and (d)(1) of section 5112 of title 31, United States Code, as
      amended by this section, the Secretary of the Treasury may
      continue to mint and issue $1 coins bearing the likeness of Susan
      B. Anthony in accordance with that section 5112 (as in effect on
      the day before the date of enactment of this Act) until such time
      as production begins.
        "(3) Numismatic sets. - The Secretary may include such $1 coins
      in any numismatic set produced by the United States Mint before
      the date on which the $1 coins authorized by this section are
      placed in circulation.
      "(f) Marketing Program. -
        "(1) In general. - Before placing into circulation $1 coins
      authorized under this section [amending this section and enacting
      provisions set out as a note under section 5101 of this title],
      the Secretary of the Treasury shall adopt a program to promote
      the use of such coins by commercial enterprises, mass transit
      authorities, and Federal, State, and local government agencies.
        "(2) Study required. - The Secretary of the Treasury shall
      conduct a study on the progress of the marketing program adopted
      in accordance with paragraph (1).
        "(3) Report. - Not later than March 31, 2001, the Secretary of
      the Treasury shall submit a report to the Congress on the results
      of the study conducted pursuant to paragraph (2)."
                           RULE OF CONSTRUCTION
      Pub. L. 105-124, Sec. 5, Dec. 1, 1997, 111 Stat. 2537, provided
    that: "Nothing in this Act [see Short Title of 1997 Amendment note
    set out under section 5101 of this title] or the amendments made by
    this Act shall be construed to evidence any intention to eliminate
    or to limit the printing or circulation of United States currency
    in the $1 denomination."
       STUDY AND REPORT TO CONGRESS OF 50 STATES COMMEMORATIVE COIN
                                  PROGRAM
      Pub. L. 104-329, title III, Sec. 302, Oct. 20, 1996, 110 Stat.
    4012, provided that:
      "(a) Study. - The Secretary of the Treasury shall by June 1, 1997
    complete a study of the feasibility of a circulating commemorative
    coin program to commemorate each of the 50 States. The study shall
    assess likely public acceptance of and consumer demand for
    different coins that might be issued in connection with such a
    program (taking into consideration the pace of issuance of coins
    and the length of such a program), a comparison of the costs of
    producing coins issued under the program and the revenue that the
    program would generate, the impact on coin distribution systems,
    the advantages and disadvantages of different approaches to
    selecting designs for coins in such a program, and such other
    factors as the Secretary considers appropriate in deciding upon the
    feasibility of such a program. No steps taken in order to gather
    information for this study shall be considered a collection of
    information within the meaning of section 3502 of title 44, United
    States Code.
      "(b) Report. - The Secretary shall submit the study required in
    subsection (a) above, to the Committee on Banking and Financial
    Services of the House of Representatives and the Committee on
    Banking, Housing and Urban Affairs of the Senate, simultaneously on
    its receipt by the Secretary.
      "(c) 50-State Commemorative Coin Program. - The Secretary shall
    determine by August 1, 1997 whether the results of the study
    authorized by subsection (a) justify such a program. If the
    Secretary determines that such a program is justified, then he
    shall by January 1, 1999, notwithstanding the fourth sentence of
    subsection (d)(1) and subsection (d)(2) of section 5112, title 31,
    United States Code, commence a commemorative coin program
    consisting of the minting and issuance of quarter dollar coins
    bearing designs, selected in accordance with paragraph (4) of this
    subsection, which are emblematic of the 50 States. If the Secretary
    determines that such a commemorative coin program is justified but
    that it is not practicable to commence the program by January 1,
    1999, then he shall notify the Committee on Banking and Financial
    Services of the House of Representatives and the Committee on
    Banking, Housing, and Urban Affairs of the Senate of such
    impracticability and of the date on which the program will
    commence.
        "(1) Design. - The design for each quarter dollar issued under
      the program shall be emblematic of 1 of the 50 States. The
      designs for quarter dollar coins issued during each year of the
      program shall be emblematic of States which have not previously
      been commemorated under the program.
        "(2) Order of issuance. - Each State will be honored by a coin
      in the order of that State's admission to the United States.
        "(3) Number of coins. - Of the quarter dollar coins issued
      during each year of the program, the Secretary shall prescribe,
      on the basis of such factors as the Secretary determines to be
      appropriate, the number of quarter dollar coins which shall be
      issued with each of the designs selected for such year.
        "(4) Selection of design. - Each of the 50 designs required for
      quarter dollars issued under the program shall be -
          "(A) selected pursuant to a process, decided upon by the
        Secretary, on the basis of the study conducted pursuant to
        subsection (a), which process shall involve, among other
        things, consultation with appropriate officials of the State
        being commemorated with such design; and
          "(B) reviewed by the Citizens Commemorative Coin Advisory
        Committee and the Commission of Fine Arts.
        "(5) Treatment as numismatic items. - For purposes of sections
      5134 and 5136 of title 31, United States Code, all coins minted
      under this section shall be considered to be numismatic items.
        "(6) Numismatic items. -
          "(A) Quality of coins. - The Secretary may mint and issue
        such number of quarter dollars of each design selected under
        paragraph (4) of this subsection in uncirculated and proof
        qualities as the Secretary determines to be appropriate.
          "(B) Silver coins. - Notwithstanding the provisions of
        subsection 5112(b) of title 31, United States Code, the
        Secretary may mint and issue such number of quarter dollars of
        each design selected under paragraph (4) of this subsection as
        the Secretary determines to be appropriate with a content of 90
        percent silver and 10 percent copper.
          "(C) Sources of bullion. - The Secretary may obtain silver
        for minting coins under paragraph (6)(B) from stockpiles
        established under the Strategic and Critical Materials Stock
        Piling Act [50 U.S.C. 98 et seq.].
      "(d) Funding. - Funds used to complete this study shall be offset
    from funds from the Department of the Treasury."
    DEPOSIT OF PROFITS FROM SALE OF GOLD TO MINT FOR COMMEMORATIVE COIN
                                  PROGRAM
      Section 101(f) [title V, Sec. 523] of Pub. L. 104-208 provided in
    part: "That profits generated from the sale of gold to the United
    States Mint for this program shall be considered as a receipt to be
    deposited into the General Fund of the Treasury."
          USE OF GOVERNMENT PLATINUM RESERVES STOCKPILED AT MINT
      Section 101(f) [title V, Sec. 524] of Pub. L. 104-208 provided in
    part: "That the Secretary is authorized to use Government platinum
    reserves stockpiled at the United States Mint as working inventory
    and shall ensure that reserves utilized are replaced by the Mint."
                   REFORM OF COMMEMORATIVE COIN PROGRAMS
      Pub. L. 103-186, title III, Dec. 14, 1993, 107 Stat. 2251, as
    amended by Pub. L. 104-208, div. A, title I, Sec. 101(f) [title V,
    Sec. 529(b)(4)], Sept. 30, 1996, 110 Stat. 3009-314, 3009-352; Pub.
    L. 104-316, title I, Sec. 115(h), Oct. 19, 1996, 110 Stat. 3835,
    provided that:
      "SEC. 301. SENSE OF CONGRESS RESOLUTION.
      "(a) Findings. - The Congress hereby makes the following
    findings:
        "(1) Congress has authorized 18 commemorative coin programs in
      the 9 years since 1984.
        "(2) There are more meritorious causes, events, and people
      worthy of commemoration than can be honored with commemorative
      coinage.
        "(3) Commemorative coin legislation has increased at a pace
      beyond that which the numismatic community can reasonably be
      expected to absorb.
        "(4) It is in the interests of all Members of Congress that a
      policy be established to control the flow of commemorative coin
      legislation.
      "(b) Declaration. - It is the sense of the Congress that the
    Committee on Banking, Finance and Urban Affairs [now Committee on
    Financial Services] of the House of Representatives and the
    Committee on Banking, Housing, and Urban Affairs of the Senate
    should not report or otherwise clear for consideration by the House
    of Representatives or the Senate legislation providing for more
    than 2 commemorative coin programs for any year, unless the
    committee determines, on the basis of a recommendation by the
    Citizens Commemorative Coin Advisory Committee, that extraordinary
    merit exists for an additional commemorative coin program.
      "SEC. 302. REPORTS BY RECIPIENTS OF COMMEMORATIVE COIN
        SURCHARGES.
      "(a) Quarterly Financial Report. -
        "(1) In general. - Each person who receives, after the date of
      the enactment of this Act [Dec. 14, 1993], any surcharge derived
      from the sale of commemorative coins under any Act of Congress
      shall submit a quarterly financial report to the Director of the
      United States Mint and the Comptroller General of the United
      States describing in detail the expenditures made by such person
      from the proceeds of the surcharge.
        "(2) Information to be included. - The report under paragraph
      (1) shall include information on the proportion of the surcharges
      received during the period covered by the report to the total
      revenue of such person during such period, expressed as a
      percentage, and the percentage of total revenue during such
      period which was spent on administrative expenses (including
      salaries, travel, overhead, and fund raising).
        "(3) Due dates. - Quarterly reports under this subsection shall
      be due at the end of the 30-day period beginning on the last day
      of any calendar quarter during which any surcharge derived from
      the sale of commemorative coins is received by any person.
      "(b) Final Report. - Each person who receives, after the date of
    the enactment of this Act, any surcharge derived from the sale of
    commemorative coins under any Act of Congress shall submit a final
    report on the expenditures made by such person from the proceeds of
    all surcharges received by such person, including information
    described in subsection (a)(2), before the end of the 1-year period
    beginning on the last day on which sales of such coins may be
    made."
    AMOUNT EQUAL TO PROFIT FROM SALE OF GOLD COINS DEPOSITED IN GENERAL
                 FUND OF TREASURY TO REDUCE NATIONAL DEBT
      Section 2(f) of Pub. L. 99-185 provided that an amount equal to
    the amount by which the proceeds from the sale of the coins issued
    under 31 U.S.C. 5112(i) exceeded the sum of the cost of minting,
    marketing, and distributing such coins, and the value of gold
    certificates (not exceeding forty-two and two-ninths dollars a fine
    troy ounce) retired from the use of gold contained in such coins,
    was to be deposited in the general fund of the Treasury and used
    for the sole purpose of reducing the national debt, prior to repeal
    by Pub. L. 102-390, title II, Sec. 221(c)(2)(A), Oct. 6, 1992, 106
    Stat. 1628, effective Oct. 1, 1992.
     ISSUANCE OF GOLD COINS TO RESULT IN NO NET COST TO UNITED STATES
      Section 2(g) of Pub. L. 99-185 provided that: "The Secretary
    shall take all actions necessary to ensure that the issuance of the
    coins minted under section 5112(i) of title 31, United States Code,
    shall result in no net cost to the United States Government."
                            COMMEMORATIVE COINS
      Provisions authorizing commemorative coins were contained in the
    following acts:
      Pub. L. 109-285, Sept. 27, 2006, 120 Stat. 1215. - Abraham
    Lincoln.
      Pub. L. 109-247, July 27, 2006, 120 Stat. 582. - Louis Braille
    Bicentennial - Braille Literacy.
      Pub. L. 109-230, Secs. 1-7, June 15, 2006, 120 Stat. 391-393. -
    San Francisco Old Mint.
      Pub. L. 109-146, Dec. 22, 2005, 119 Stat. 2676. - Little Rock
    Central High School Desegregation 50th Anniversary.
      Pub. L. 108-486, Dec. 23, 2004, 118 Stat. 3934. - American Bald
    Eagle Recovery and National Emblem.
      Pub. L. 108-464, Dec. 21, 2004, 118 Stat. 3878. - Benjamin
    Franklin.
      Pub. L. 108-291, Aug. 6, 2004, 118 Stat. 1024. - Marine Corps
    230th Anniversary.
      Pub. L. 108-290, Aug. 6, 2004, 118 Stat. 1021. - John Marshall.
      Pub. L. 108-289, Aug. 6, 2004, 118 Stat. 1017. - Jamestown 400th
    Anniversary.
      Pub. L. 106-435, Nov. 6, 2000, 114 Stat. 1916. - 2002 Winter
    Olympic Games.
      Pub. L. 106-375, Oct. 27, 2000, 114 Stat. 1435. - National Museum
    of the American Indian.
      Pub. L. 106-126, title I, Dec. 6, 1999, 113 Stat. 1643. - Leif
    Ericson millennium.
      Pub. L. 106-126, title II, Dec. 6, 1999, 113 Stat. 1644. - United
    States Capitol visitor center.
      Pub. L. 106-126, title III, Dec. 6, 1999, 113 Stat. 1647; Pub. L.
    109-232, June 15, 2006, 120 Stat. 395. - Lewis and Clark Expedition
    bicentennial.
      Pub. L. 105-331, Oct. 31, 1998, 112 Stat. 3073. - Thomas Alva
    Edison.
      Pub. L. 105-268, Oct. 19, 1998, 112 Stat. 2378. - Library of
    Congress bicentennial.
      Pub. L. 105-124, Sec. 6, Dec. 1, 1997, 111 Stat. 2537. - First
    flight by Orville and Wilbur Wright.
      Pub. L. 104-329, Sec. 2, title I, Secs. 101-108, Oct. 20, 1996,
    110 Stat. 4005-4011; Pub. L. 105-277, div. C, title I, Sec. 139(c),
    Oct. 21, 1998, 112 Stat. 2681-599. - Dolley Madison, George
    Washington, Black Revolutionary War patriots, Franklin Delano
    Roosevelt Memorial, Yellowstone National Park, National Law
    Enforcement Officers Memorial, and Jackie Robinson.
      Pub. L. 104-96, Jan. 10, 1996, 109 Stat. 981. - Smithsonian
    Institution sesquicentennial.
      Pub. L. 103-328, title II, Sec. 204, Sept. 29, 1994, 108 Stat.
    2369. - 1995 Special Olympics World Games.
      Pub. L. 103-328, title II, Sec. 205, Sept. 29, 1994, 108 Stat.
    2371. - National community service.
      Pub. L. 103-328, title II, Sec. 206, Sept. 29, 1994, 108 Stat.
    2373. - Robert F. Kennedy Memorial.
      Pub. L. 103-328, title II, Sec. 207, Sept. 29, 1994, 108 Stat.
    2375. - United States Military Academy bicentennial.
      Pub. L. 103-328, title II, Sec. 208, Sept. 29, 1994, 108 Stat.
    2377. - United States Botanic Garden.
      Pub. L. 103-186, title I, Dec. 14, 1993, 107 Stat. 2245. - Thomas
    Jefferson.
      Pub. L. 103-186, title II, Dec. 14, 1993, 107 Stat. 2247. -
    Prisoner-of-war, Vietnam Veterans Memorial, and Women in Military
    Service for America Memorial.
      Pub. L. 103-186, title IV, Dec. 14, 1993, 107 Stat. 2252. -
    United States Capitol bicentennial.
      Pub. L. 102-414, Oct. 14, 1992, 106 Stat. 2106. - World War II
    50th anniversary.
      Pub. L. 102-390, title I, Oct. 6, 1992, 106 Stat. 1620; Pub. L.
    104-74, Dec. 26, 1995, 109 Stat. 784. - 1996 Olympic Games.
      Pub. L. 102-379, Oct. 5, 1992, 106 Stat. 1362. - Civil War
    battlefields.
      Pub. L. 102-281, title I, May 13, 1992, 106 Stat. 133; Pub. L.
    102-390, title II, Sec. 221(c)(2)(G), Oct. 6, 1992, 106 Stat. 1628.
    - White House 200th anniversary.
      Pub. L. 102-281, title II, May 13, 1992, 106 Stat. 135; Pub. L.
    102-390, title II, Sec. 221(c)(2)(H), Oct. 6, 1992, 106 Stat. 1628;
    Pub. L. 104-66, title I, Sec. 1132(a), Dec. 21, 1995, 109 Stat.
    725. - World Cup USA 1994.
      Pub. L. 102-281, title IV, Secs. 401-411, May 13, 1992, 106 Stat.
    139-141; Pub. L. 102-390, title II, Sec. 221(c)(2)(I), Oct. 6,
    1992, 106 Stat. 1628. - Christopher Columbus quincentenary.
      Pub. L. 102-281, title V, May 13, 1992, 106 Stat. 145; Pub. L.
    104-66, title I, Sec. 1132(c), Dec. 21, 1995, 109 Stat. 725. -
    James Madison and Bill of Rights.
      Pub. L. 101-495, Oct. 31, 1990, 104 Stat. 1187; Pub. L. 102-390,
    title II, Sec. 221(c)(2)(F), Oct. 6, 1992, 106 Stat. 1628. - Korean
    War Veterans Memorial.
      Pub. L. 101-406, Oct. 3, 1990, 104 Stat. 879; Pub. L. 102-390,
    title II, Sec. 221(c)(2)(E), Oct. 6, 1992, 106 Stat. 1628. - 1992
    Olympic Games.
      Pub. L. 101-404, Oct. 2, 1990, 104 Stat. 875; Pub. L. 102-390,
    title II, Sec. 221(c)(2)(D), Oct. 6, 1992, 106 Stat. 1628. - United
    Services Organization 50th anniversary.
      Pub. L. 101-332, July 16, 1990, 104 Stat. 313; Pub. L. 102-390,
    title II, Sec. 221(c)(2)(C), Oct. 6, 1992, 106 Stat. 1628; Pub. L.
    103-328, title II, Sec. 209, Sept. 29, 1994, 108 Stat. 2378. -
    Mount Rushmore National Memorial golden anniversary.
      Pub. L. 100-673, Nov. 17, 1988, 102 Stat. 3992; Pub. L. 101-36,
    June 9, 1989, 103 Stat. 69; Pub. L. 101-302, title III, Sec.
    312(c), May 25, 1990, 104 Stat. 245; Pub. L. 103-186, title IV,
    Sec. 408(b), Dec. 14, 1993, 107 Stat. 2253. - United States
    Congress bicentennial.
      Pub. L. 100-467, Oct. 3, 1988, 102 Stat. 2275; Pub. L. 102-390,
    title II, Sec. 221(c)(2)(B), Oct. 6, 1992, 106 Stat. 1628. - Dwight
    David Eisenhower.
      Pub. L. 100-141, Oct. 28, 1987, 101 Stat. 832. - 1988 Olympic
    Games.
      Pub. L. 99-582, Oct. 29, 1986, 100 Stat. 3315. - United States
    Constitution bicentennial.
      Pub. L. 99-61, title I, July 9, 1985, 99 Stat. 113. - Statue of
    Liberty and Ellis Island.
      Pub. L. 97-220, July 22, 1982, 96 Stat. 222. - 1984 Olympic
    Games.
                   POSSESSION OF GOLD COINS AND BULLION
      The possession of gold coins and bullion was prohibited except
    under Government license by Ex. Ord. No. 6260, eff. Aug. 28, 1933.
    That prohibition was revoked by Ex. Ord. No. 11825, Dec. 31, 1974,
    40 F.R. 1003, eff. Dec. 31, 1974. See notes set out under section
    95a of Title 12, Banks and Banking.
-FOOTNOTE-
    (!1) So in original. The closing quotation marks and second
         period probably should not appear.
    (!2) So in original. Probably should be "sections".
    (!3) So in original. The comma probably should not appear.
-End-
-CITE-
    31 USC Sec. 5113                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5113. Tolerances and testing of coins
-STATUTE-
      (a) The Secretary of the Treasury may prescribe reasonable
    manufacturing tolerances for specifications in section 5112 of this
    title (except for specifications that are limits) for the dollar,
    half dollar, quarter dollar, and dime coins. The weight of the 5-
    cent coin may vary not more than 0.194 gram. The weight of the one-
    cent coin may vary not more than 0.13 gram. Any gold coin issued
    under section 5112 of this title shall contain the full weight of
    gold stated on the coin.
      (b) The Secretary shall keep a record of the kind, number, and
    weight of each group of coins minted and test a number of the coins
    separately to determine if the coins conform to the weight
    specified in section 5112(a) of this title. If the coins tested do
    not conform, the Secretary -
        (1) shall weigh each coin of the group separately and deface
      the coins that do not conform and cast them into bars for
      reminting; or
        (2) may remelt the group of coins.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 983; Pub. L. 100-274,
    Sec. 4(b), Mar. 31, 1988, 102 Stat. 50.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5113(a)      31:350.                 R.S. Sec. 3537; Sept. 26,
                                          1890, ch. 945, Sec. 1, 26
                                          Stat. 485.
                 31:398(5).              July 23, 1965, Pub. L. 89-81,
                                          Sec. 108(5), 79 Stat. 255.
    5113(b)      31:351.                 R.S. Sec. 3538; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
    --------------------------------------------------------------------
      In subsection (a), the words "for the dollar, half dollar,
    quarter dollar, and dime coins" are added because of the
    restatement. The words "0.194 gram" are substituted for "three
    grains", and the words "0.13 gram" are substituted for "two
    grains", for consistency in the revised chapter.
      In subsection (b), before clause (1), the words "Secretary shall
    keep a record of the kind, number, and weight of each group of
    coins minted" are substituted for 31:351(1st sentence) because of
    the source provisions restated in section 321(c) of the revised
    title. In clause (1), the words "deface the coins that do not
    conform and cast them into bars for reminting" are substituted for
    "shall be defaced and delivered to the superintendent of melting
    and refining department as standard bullion, to be again formed
    into ingots and recoined" for consistency in the revised chapter
    and to eliminate unnecessary words. In clause (2), the words "if
    more convenient" are omitted as surplus.
                                AMENDMENTS
      1988 - Subsec. (a). Pub. L. 100-274 inserted at end "Any gold
    coin issued under section 5112 of this title shall contain the full
    weight of gold stated on the coin."
-End-
-CITE-
    31 USC Sec. 5114                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5114. Engraving and printing currency and security documents
-STATUTE-
      (a) Authority To Engrave and Print. -
        (1) In general. - The Secretary of the Treasury shall engrave
      and print United States currency and bonds of the United States
      Government and currency and bonds of United States territories
      and possessions from intaglio plates on plate printing presses
      the Secretary selects. However, other security documents and
      checks may be printed by any process the Secretary selects.
      Engraving and printing shall be carried out within the Department
      of the Treasury if the Secretary decides the engraving and
      printing can be carried out as cheaply, perfectly, and safely as
      outside the Department.
        (2) Engraving and printing for other governments. - The
      Secretary of the Treasury may produce currency, postage stamps,
      and other security documents for foreign governments if -
          (A) the Secretary of the Treasury determines that such
        production will not interfere with engraving and printing needs
        of the United States; and
          (B) the Secretary of State determines that such production
        would be consistent with the foreign policy of the United
        States.
        (3) Procurement guidelines. - Articles, material, and supplies
      procured for use in the production of currency, postage stamps,
      and other security documents for foreign governments pursuant to
      paragraph (2) shall be treated in the same manner as articles,
      material, and supplies procured for public use within the United
      States for purposes of title III of the Act of March 3, 1933 (41
      U.S.C. 10a et seq.; commonly referred to as the Buy American
      Act).
      (b) United States currency has the inscription "In God We Trust"
    in a place the Secretary decides is appropriate. Only the portrait
    of a deceased individual may appear on United States currency and
    securities. The name of the individual shall be inscribed below the
    portrait.
      (c) The Secretary may make a contract for a period of not more
    than 4 years to manufacture distinctive paper for United States
    currency and securities. To promote competition among manufacturers
    of the distinctive paper, the Secretary may split the award for the
    manufacture of the paper between the 2 bidders with the lowest
    prices a pound. When the Secretary decides that it is necessary to
    operate more than one mill to manufacture distinctive paper, the
    Secretary may -
        (1) employ individuals temporarily at rates of pay equivalent
      to the rates of pay of regular employees; and
        (2) charge the pay of the temporary employees to the
      appropriation available for manufacturing distinctive paper.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 983; Pub. L. 108-458,
    title VI, Sec. 6301(a), Dec. 17, 2004, 118 Stat. 3748.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5114(a)      31:177.                 Aug. 24, 1912, ch. 355, Sec.
                                          1(4th par. under heading
                                          "Engraving and Printing"), 37
                                          Stat. 430.
                                         Jan. 3, 1923, ch. 22(2d par.
                                          under heading "Bureau of
                                          Engraving and Printing"), 42
                                          Stat. 1099.
                 31:415.                 Mar. 3, 1877, ch. 105(provisos
                                          in par. under heading "Bureau
                                          of Engraving and Printing"),
                                          19 Stat. 353.
                 31:416.                 R.S. Sec. 3577.
    5114(b)      31:324a.                July 11, 1955, ch. 303, 69
                                          Stat. 290.
                 31:413.                 R.S. Sec. 3576.
                 31:414.                 Mar. 2, 1889, ch. 411, Sec.
                                          1(5th proviso under heading
                                          "Engraving and Printing"), 25
                                          Stat. 945.
    5114(c)      31:418.                 July 1, 1916, ch. 209, Sec.
                                          1(2d par. on p. 277), 39 Stat.
                                          277; Oct. 31, 1951, ch. 654,
                                          Sec. 2(19), 65 Stat. 707.
                 31:418a.                Aug. 11, 1951, ch. 301, Sec.
                                          101(proviso under heading
                                          "Bureau of Engraving and
                                          Printing"), 65 Stat. 184.
                 31:419.                 Apr. 4, 1924, ch. 84(1st par.
                                          on p. 69), 43 Stat. 69.
    --------------------------------------------------------------------
      In subsection (a), the words "The Secretary of the Treasury shall
    engrave and print" are substituted for "The work of engraving and
    printing . . . shall be performed at the Treasury Department" in
    31:415 because of the source provisions restated in section 321(c)
    of the revised title. The words "United States currency and
    security documents of the United States Government and currency and
    bonds of the United States territories and possessions" are
    substituted for "the backs and tints of all United States bonds,
    the backs and tints of all United States paper money, and the backs
    and tints of bonds and paper money issued by any of the insular
    possessions of the United States" in 31:177 to eliminate
    unnecessary words and for clarity and consistency in the revised
    title. The words "other security documents and checks" are
    substituted for "checks" because only currency and bonds must be
    printed from intaglio plates. The text of 31:177(1st proviso) is
    omitted as unnecessary because of the authority of the Secretary to
    engrave and print restated in the subsection and the source
    provisions restated in section 303 of the revised title. The text
    of 31:177(last proviso) is omitted as executed. The text of the
    first and 2d provisos in the 4th paragraph under the heading
    "Engraving and Printing" in section 1 of the Act of August 24, 1912
    (ch. 355, 37 Stat. 430), is omitted as superseded by 31:177(1st
    proviso). The words after the semicolon in the 2d paragraph under
    the heading "Bureau of Engraving and Printing" of the Act of
    January 3, 1923 (ch. 22, 42 Stat. 1099), are omitted as executed.
    The words "if the Secretary decides the engraving and printing can
    be carried out . . . as outside the Department" are substituted for
    "provided it can be done there" in 31:415 for clarity. The words
    "The Secretary of the Treasury may purchase and provide all the
    machinery and materials" in 31:416 are omitted as being superseded
    by section 5142 of the revised title. The words "and employ such
    persons and appoint such officers as are necessary for the purpose
    of section 415 of this title" are omitted as unnecessary because of
    5:3101. The text of section 3577(words before the semicolon) of the
    Revised Statutes is omitted as superseded by 31:415.
      In subsection (b), the words "United States currency has the
    inscription" are substituted for "the dies shall bear . . . the
    inscription" in 31:324a for clarity. The words "At such time as new
    dies for the printing of currency are adopted" are omitted as
    executed. The words "and thereafter this inscription shall appear
    on all United States currency and coins" are omitted as unnecessary
    because of the restatement of the source provisions in this
    subsection and section 5112(d) of the revised title. The words "in
    connection with the current program of the Treasury Department to
    increase the capacity of presses utilized by the Bureau of
    Engraving and Printing" in the Act of July 11, 1955 (ch. 303, 69
    Stat. 290), are omitted as unnecessary. The words "Only . . . of a
    deceased individual" are substituted for "No . . . while the
    original of such portrait is living" in 31:413 for clarity. The
    words "United States currency and obligations" are substituted for
    "bonds, securities, notes, fractional or postal currency of the
    United States" for consistency in the revised title. The words
    "shall be placed upon any of the plates for bonds, securities,
    notes, and silver certificates of the United States" in 31:414 are
    omitted as unnecessary because of the restatement.
      In subsection (c), before clause (1), the words "subject to
    applicable regulations under the Federal Property and
    Administrative Services Act of 1949, as amended" in 31:418 are
    omitted as unnecessary. The words "On and after August 11, 1951" in
    31:418a are omitted as executed. The words "received after
    advertisement" are omitted as unnecessary because of 41:252. The
    words "the Secretary decides" are added for clarity. In clause (1),
    the words "as may be necessary" in 31:419 are omitted as surplus.
    In clause (2), the word "pay" is substituted for "compensation" for
    consistency in the revised subsection and with other titles of the
    United States Code.
-REFTEXT-
                            REFERENCES IN TEXT
      Title III of the Act of March 3, 1933, referred to in subsec.
    (a)(3), is title III of act Mar. 3, 1933, ch. 212, 47 Stat. 1520,
    as amended, known as the Buy American Act, which is classified
    generally to sections 10a, 10b, and 10c of Title 41, Public
    Contracts. For complete classification of this Act to the Code, see
    Short Title note set out under section 10a of Title 41 and Tables.
-MISC2-
                                AMENDMENTS
      2004 - Subsec. (a). Pub. L. 108-458 inserted subsec. heading,
    designated existing provisions as par. (1), inserted par. heading,
    and added pars. (2) and (3).
     PROHIBITION ON USE OF FUNDS FOR MANUFACTURE OF DISTINCTIVE PAPER
       FOR CURRENCY AND SECURITIES BY FOREIGN OWNED CORPORATIONS OR
                     OUTSIDE UNITED STATES; EXCEPTION
      Pub. L. 100-440, title VI, Sec. 617(a), Sept. 22, 1988, 102 Stat.
    1755, provided that: "None of the funds made available by this or
    any other Act with respect to any fiscal year may be used to make a
    contract for the manufacture of distinctive paper for United States
    currency and securities pursuant to section 5114 of title 31,
    United States Code, with any corporation or other entity owned or
    controlled by persons not citizens of the United States, or for the
    manufacture of such distinctive paper outside of the United States
    or its possessions. This subsection shall not apply if the
    Secretary of the Treasury determines that no domestic manufacturer
    of distinctive paper for United States currency or securities
    exists with which to make a contract and if the Secretary of the
    Treasury publishes in the Federal Register a written finding
    stating the basis for the determination."
      Similar provisions were contained in the following prior
    appropriation act:
      Pub. L. 100-202, Sec. 101(m) [title VI, Sec. 622(a)], Dec. 22,
    1987, 101 Stat. 1329-390, 1329-428.
-End-
-CITE-
    31 USC Sec. 5115                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5115. United States currency notes
-STATUTE-
      (a) The Secretary of the Treasury may issue United States
    currency notes. The notes -
        (1) are payable to bearer; and
        (2) shall be in a form and in denominations of at least one
      dollar that the Secretary prescribes.
      (b) The amount of United States currency notes outstanding and in
    circulation -
        (1) may not be more than $300,000,000; and
        (2) may not be held or used for a reserve.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 983.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5115(a)      31:401.                 R.S. Sec. 3571.
    5115(b)      31:402.                 June 20, 1874, ch. 343, Sec.
                                          6, 18 Stat. 124; Jan. 14,
                                          1875, ch. 15, Sec. 3, 18 Stat.
                                          296.
    --------------------------------------------------------------------
      In the section, the words "United States currency notes" are
    substituted for "United States notes" for clarity and consistency
    in the revised title.
      In subsection (a), the first sentence is added for clarity and
    because of the restatement. The words "shall not bear interest" are
    omitted because of the source provisions restated in section 5118
    of the revised title.
      In subsection (b), before clause (1), the words "in circulation"
    are substituted for "to be used as a part of the circulation
    medium" to eliminate unnecessary words. In clause (1), the words
    "the sum of" are omitted as surplus. The words "which said sum
    shall appear in each monthly statement of the public debt" are
    omitted because of the source provisions restated in section 5118
    of the revised title. In clause (2), the words "and no part thereof
    shall" are omitted because of the restatement. The text of section
    3(less 2d sentence) of the Act of January 14, 1875 (ch. 15, 18
    Stat. 296), is omitted as executed.
-End-
-CITE-
    31 USC Sec. 5116                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5116. Buying and selling gold and silver
-STATUTE-
      (a)(1) With the approval of the President, the Secretary of the
    Treasury may -
        (A) buy and sell gold in the way, in amounts, at rates, and on
      conditions the Secretary considers most advantageous to the
      public interest; and
        (B) buy the gold with any direct obligations of the United
      States Government or United States coins and currency authorized
      by law, or with amounts in the Treasury not otherwise
      appropriated.
      (2) Amounts received from the purchase of gold are an asset of
    the general fund of the Treasury. Amounts received from the sale of
    gold shall be deposited by the Secretary in the general fund of the
    Treasury and shall be used for the sole purpose of reducing the
    national debt.
      (3) The Secretary shall acquire gold for the coins issued under
    section 5112(i) of this title by purchase of gold mined from
    natural deposits in the United States, or in a territory or
    possession of the United States, within one year after the month in
    which the ore from which it is derived was mined. The Secretary
    shall pay not more than the average world price for the gold. In
    the absence of available supplies of such gold at the average world
    price, the Secretary may use gold from reserves held by the United
    States to mint the coins issued under section 5112(i) of this
    title. The Secretary shall issue such regulations as may be
    necessary to carry out this paragraph.
      (b)(1) The Secretary may buy silver mined from natural deposits
    in the United States, or in a territory or possession of the United
    States, that is brought to a United States mint or assay office
    within one year after the month in which the ore from which it is
    derived was mined. The Secretary may use the coinage metal fund
    under section 5111(b) of this title to buy silver under this
    subsection.
      (2) The Secretary may sell or use Government silver to mint
    coins, except silver transferred to stockpiles established under
    the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98
    et seq.). The Secretary shall obtain the silver for the coins
    authorized under section 5112(e) of this title by purchase from
    stockpiles established under the Strategic and Critical Materials
    Stock Piling Act (50 U.S.C. 98 et seq.). At such time as the silver
    stockpile is depleted, the Secretary shall obtain silver as
    described in paragraph (1) to mint coins authorized under section
    5112(e). If it is not economically feasible to obtain such silver,
    the Secretary may obtain silver for coins authorized under section
    5112(e) from other available sources. The Secretary shall not pay
    more than the average world price for silver under any
    circumstances. As used in this paragraph, the term "average world
    price" means the price determined by a widely recognized commodity
    exchange at the time the silver is obtained by the Secretary. The
    Secretary shall sell silver under conditions the Secretary
    considers appropriate for at least $1.292929292 a fine troy ounce.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 984; Pub. L. 99-61, title
    II, Sec. 203, July 9, 1985, 99 Stat. 116; Pub. L. 99-185, Sec.
    2(c), Dec. 17, 1985, 99 Stat. 1178; Pub. L. 100-274, Sec. 5, Mar.
    31, 1988, 102 Stat. 50; Pub. L. 107-201, Sec. 3(a)(1), July 23,
    2002, 116 Stat. 737.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5116(a)      31:733(words after      R.S. Sec. 3699(words after
                  semicolon).             semicolon); restated Jan. 30,
                                          1934, ch. 6, Sec. 9, 48 Stat.
                                          341.
                 31:734.                 R.S. Sec. 3700; restated Jan.
                                          30, 1934, ch. 6, Sec. 8, 48
                                          Stat. 341.
    5116(b)(     31:335.                 R.S. Sec. 3526; restated May
     1)                                   10, 1950, ch. 173, 64 Stat.
                                          157; July 9, 1956, ch. 535,
                                          Sec. 2, 70 Stat. 518; July 23,
                                          1965, Pub. L. 89-81, Sec. 205,
                                          79 Stat. 256.
                 31:394.                 July 23, 1965, Pub. L. 89-81,
                                          Sec. 104, 79 Stat. 255.
    5116(b)(     31:405a-1.              June 4, 1963, Pub. L. 88-36,
     2)                                   Sec. 2, 77 Stat. 54; July 23,
                                          1965, Pub. L. 89-81, Sec. 209,
                                          79 Stat. 257; restated June
                                          24, 1967, Pub. L. 90-29, Sec.
                                          3, 81 Stat. 77.
    --------------------------------------------------------------------
      In subsection (a)(1), the words "With the approval of the
    President" are applied to 31:733(words after semicolon) because of
    31:822b. The words "at home or abroad" in 31:733(words after
    semicolon) and 734 are omitted as surplus. The words "terms and"
    are omitted as included in "conditions". The text of
    31:733(proviso) is omitted as superseded by the Bretton Woods
    Agreement Act (22 U.S.C. 286 et seq.) and sections 6 and 9 of the
    Act of October 19, 1976 (Pub. L. 94-564, 90 Stat. 2661), repealing
    31:449 that provided for parity of the dollar on terms of gold and
    special drawing rights. The text of 31:734(1st sentence words after
    semicolon) is omitted as surplus.
      In subsection (b)(1), the words "coinage metal fund" are
    substituted for "bullion fund" in 31:335 as being more precise and
    because of section 5111 of the revised title. The words "after July
    23, 1965" in 31:394 are omitted as executed. The words "to procure
    bullion for coinage" and 31:335(2d-last sentences) are omitted as
    obsolete because the Secretary of the Treasury has authority to
    mint coins containing silver only under section 5112(e) of the
    revised title and the Secretary holds sufficient silver to mint
    those coins. See Sen. Rept. No. 91-1084 (1970).
      In subsection (b)(2), the word "terms" is omitted as being
    included in "conditions". The words "for at least" are substituted
    for "at a price not less than the monetary value of" to eliminate
    unnecessary words.
-REFTEXT-
                            REFERENCES IN TEXT
      The Strategic and Critical Materials Stock Piling Act, referred
    to in subsec. (b)(2), is act June 7, 1939, ch. 190, as revised
    generally by Pub. L. 96-41, Sec. 2, July 30, 1979, 93 Stat. 319,
    which is classified generally to subchapter III (Sec. 98 et seq.)
    of chapter 5 of Title 50, War and National Defense. For complete
    classification of this Act to the Code, see section 98 of Title 50
    and Tables.
-MISC2-
                                AMENDMENTS
      2002 - Subsec. (b)(2). Pub. L. 107-201 inserted after second
    sentence "At such time as the silver stockpile is depleted, the
    Secretary shall obtain silver as described in paragraph (1) to mint
    coins authorized under section 5112(e). If it is not economically
    feasible to obtain such silver, the Secretary may obtain silver for
    coins authorized under section 5112(e) from other available
    sources. The Secretary shall not pay more than the average world
    price for silver under any circumstances. As used in this
    paragraph, the term 'average world price' means the price
    determined by a widely recognized commodity exchange at the time
    the silver is obtained by the Secretary."
      1988 - Subsec. (a)(2). Pub. L. 100-274 amended last sentence
    generally, substituting "shall be deposited by the Secretary in the
    general fund of the Treasury and shall be used for the sole purpose
    of reducing the national debt" for "shall be deposited in the
    general fund of the Treasury".
      1985 - Subsec. (a)(3). Pub. L. 99-185 added par. (3).
      Subsec. (b)(1). Pub. L. 99-61, Sec. 203(1), (2), substituted "The
    Secretary may buy silver" for "The Secretary shall buy silver", and
    struck out provision directing that the Secretary pay $1.25 a fine
    troy ounce for silver.
      Subsec. (b)(2). Pub. L. 99-61, Sec. 203(3), inserted provision
    directing that the Secretary obtain the silver for the coins
    authorized under section 5112(e) of this title by purchase from
    stockpiles established under the Strategic and Critical Materials
    Stock Piling Act.
                     EFFECTIVE DATE OF 1985 AMENDMENTS
      Amendment by Pub. L. 99-185 effective Oct. 1, 1985, except that
    no coins may be issued or sold under section 5112(i) of this title
    before Oct. 1, 1986, see section 3 of Pub. L. 99-185, set out as a
    note under section 5112 of this title.
      Amendment by Pub. L. 99-61 effective Oct. 1, 1985, with exception
    as to issuance or sale of coins under section 5112(e) of this
    title, see section 205 of Pub. L. 99-61, set out as a note under
    section 5112 of this title.
                                REGULATIONS
      Pub. L. 107-201, Sec. 3(a)(2), July 23, 2002, 116 Stat. 737,
    provided that: "The Secretary of the Treasury shall issue
    regulations to implement the amendments made by paragraph (1)
    [amending this section]."
      CONGRESSIONAL FINDINGS CONCERNING AMERICAN EAGLE SILVER BULLION
                                  PROGRAM
      Pub. L. 107-201, Sec. 2, July 23, 2002, 116 Stat. 736, provided
    that: "Congress finds that -
        "(1) the American Eagle Silver Bullion coin leads the global
      market, and is the largest and most popular silver coin program
      in the United States;
        "(2) established in 1986, the American Eagle Silver Bullion
      Program is the most successful silver bullion program in the
      world;
        "(3) from fiscal year 1995 through fiscal year 2001, the
      American Eagle Silver Bullion Program generated -
          "(A) revenues of $264,100,000; and
          "(B) sufficient profits to significantly reduce the national
        debt;
        "(4) with the depletion of silver reserves in the Defense
      Logistic Agency's Strategic and Critical Materials Stockpile, it
      is necessary for the Department of the Treasury to acquire silver
      from other sources in order to preserve the American Eagle Silver
      Bullion Program;
        "(5) with the ability to obtain silver from other sources, the
      United States Mint can continue the highly successful American
      Eagle Silver Bullion Program, exercising sound business judgment
      and market acquisition practices in its approach to the silver
      market, resulting in continuing profitability of the program;
        "(6) in 2001, silver was commercially produced in 12 States,
      including, [sic] Alaska, Arizona, California, Colorado, Idaho,
      Missouri, Montana, Nevada, New Mexico, South Dakota, Utah, and
      Washington;
        "(7) Nevada is the largest silver producing State in the
      Nation, producing -
          "(A) 17,500,000 ounces of silver in 2001; and
          "(B) 34 percent of United States silver production in 2000;
        "(8) the mining industry in Idaho is vital to the economy of
      the State, and the Silver Valley in northern Idaho leads the
      world in recorded silver production, with over 1,100,000,000
      ounces of silver produced between 1884 and 2001;
        "(9) the largest, active silver producing mine in the Nation is
      the McCoy/Cove Mine in Nevada, which produced more than
      107,000,000 ounces of silver between 1989 and 2001;
        "(10) the mining industry in Idaho -
          "(A) employs more than 3,000 people;
          "(B) contributes more than $900,000,000 to the Idaho economy;
        and
          "(C) produces $70,000,000 worth of silver per year;
        "(11) the silver mines of the Comstock lode, the premier silver
      producing deposit in Nevada, brought people and wealth to the
      region, paving the way for statehood in 1864, and giving Nevada
      its nickname as 'the Silver State';
        "(12) mines in the Silver Valley -
          "(A) represent an important part of the mining history of
        Idaho and the United States; and
          "(B) have served in the past as key components of the United
        States war effort; and
        "(13) silver has been mined in Nevada throughout its history,
      with every significant metal mining camp in Nevada producing some
      silver."
      ANNUAL REPORT ON SILVER PURCHASES IN SUPPORT OF AMERICAN EAGLE
                          SILVER BULLION PROGRAM
      Pub. L. 107-201, Sec. 3(c), July 23, 2002, 116 Stat. 737,
    provided that:
      "(1) In general. - The Director of the United States Mint shall
    prepare and submit to Congress an annual report on the purchases of
    silver made pursuant to this Act [amending this section and
    enacting provisions set out as notes under this section and
    sections 5101 and 5112 of this title] and the amendments made by
    this Act.
      "(2) Concurrent submission. - The report required by paragraph
    (1) may be incorporated into the annual report of the Director of
    the United States Mint on the operations of the mint and assay
    offices, referred to in section 1329 of title 44, United States
    Code."
                     TERMINATION OF COINAGE METAL FUND
      All assets and liabilities of Coinage Metal Fund transferred to
    United States Mint Public Enterprise Fund and such coinage fund to
    cease to exist as separate fund as its activities and functions are
    subsumed under and subject to United States Mint Public Enterprise
    Fund, see section 5136 of this title.
-End-
-CITE-
    31 USC Sec. 5117                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5117. Transferring gold and gold certificates
-STATUTE-
      (a) All right, title, and interest, and every claim of the Board
    of Governors of the Federal Reserve System, a Federal reserve bank,
    and a Federal reserve agent, in and to gold is transferred to and
    vests in the United States Government to be held in the Treasury.
    Payment for the transferred gold is made by crediting equivalent
    amounts in dollars in accounts established in the Treasury under
    the 15th paragraph of section 16 of the Federal Reserve Act (12
    U.S.C. 467). Gold not in the possession of the Government shall be
    held in custody for the Government and delivered on the order of
    the Secretary of the Treasury. The Board of Governors, Federal
    reserve banks, and Federal reserve agents shall give instructions
    and take action necessary to ensure that the gold is so held and
    delivered.
      (b) The Secretary shall issue gold certificates against gold
    transferred under subsection (a) of this section. The Secretary may
    issue gold certificates against other gold held in the Treasury.
    The Secretary may prescribe the form and denominations of the
    certificates. The amount of outstanding certificates may be not
    more than the value (for the purpose of issuing those certificates,
    of 42 and two-ninths dollars a fine troy ounce) of the gold held
    against gold certificates. The Secretary shall hold gold in the
    Treasury equal to the required dollar amount as security for gold
    certificates issued after January 29, 1934.
      (c) With the approval of the President, the Secretary may
    prescribe regulations the Secretary considers necessary to carry
    out this section.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 984.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5117(a)      31:441(1st, last        Jan. 30, 1934, ch. 6, Secs.
                  sentences).             2(a), 11, 48 Stat. 337, 342.
    5117(b)      31:405b.                Jan. 30, 1934, ch. 6, Sec.
                                          14(c), 48 Stat. 344; Mar. 18,
                                          1968, Pub. L. 90-269, Sec. 12,
                                          82 Stat. 51; restated Oct. 19,
                                          1976, Pub. L. 94-564, Sec. 8,
                                          90 Stat. 2661.
                 31:408a(last            Jan. 30, 1934, ch. 6, Sec.
                  proviso).               6(last proviso), 48 Stat. 340;
                                          Mar. 18, 1968, Pub. L. 90-269,
                                          Sec. 8, 82 Stat. 50.
                 31:441(2d sentence).
    5117(c)      31:822b.
    --------------------------------------------------------------------
      In subsection (a), the words "On January 30, 1934" are omitted as
    executed. The word "gold" is substituted for "gold coin and gold
    bullion" for consistency and to omit unnecessary words. The word
    "transferred" is substituted for "pass" for consistency in the
    subsection. The words "to be held in the Treasury" are added for
    consistency with the source provisions restated in subsection (b)
    of the revised section.
      In subsection (b), the first sentence is substituted for
    31:441(2d sentence) for consistency. The word "issued" in 31:405b
    is omitted as being included in "outstanding". The words "of 42 and
    two-ninths dollars a fine troy ounce)" are substituted for "at the
    legal standard provided in section 449 of this title on October 19,
    1976" because that was the legal standard in that section on that
    date. The text of 31:449 was repealed by section 6 of the Bretton
    Woods Agreements Act. The words "The Secretary shall hold . . . in
    the Treasury . . . as security" are substituted for "security . . .
    shall be maintained" in 31:408a(last proviso) because of the source
    provisions restated in section 321 of the revised title. The words
    "gold certificates issued after January 29, 1934" are substituted
    for "gold certificates (including the gold certificates held in the
    Treasury for credits payable therein)" for clarity and because of
    section 5118(c)(1)(A) of the revised title.
      In subsection (c), the word "regulations" is substituted for
    "rules and regulations", and the word "necessary" is substituted
    for "necessary or proper", to eliminate unnecessary words.
-End-
-CITE-
    31 USC Sec. 5118                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5118. Gold clauses and consent to sue
-STATUTE-
      (a) In this section -
        (1) "gold clause" means a provision in or related to an
      obligation alleging to give the obligee a right to require
      payment in -
          (A) gold;
          (B) a particular United States coin or currency; or
          (C) United States money measured in gold or a particular
        United States coin or currency.
        (2) "public debt obligation" means a domestic obligation issued
      or guaranteed by the United States Government to repay money or
      interest.
      (b) The United States Government may not pay out any gold coin. A
    person lawfully holding United States coins and currency may
    present the coins and currency to the Secretary of the Treasury for
    exchange (dollar for dollar) for other United States coins and
    currency (other than gold and silver coins) that may be lawfully
    held. The Secretary shall make the exchange under regulations
    prescribed by the Secretary.
      (c)(1) The Government withdraws its consent given to anyone to
    assert against the Government, its agencies, or its officers,
    employees, or agents, a claim -
        (A) on a gold clause public debt obligation or interest on the
      obligation;
        (B) for United States coins or currency; or
        (C) arising out of the surrender, requisition, seizure, or
      acquisition of United States coins or currency, gold, or silver
      involving the effect or validity of a change in the metallic
      content of the dollar or in a regulation about the value of
      money.
      (2) Paragraph (1) of this subsection does not apply to a
    proceeding in which no claim is made for payment or credit in an
    amount greater than the face or nominal value in dollars of public
    debt obligations or United States coins or currency involved in the
    proceeding.
      (3) Except when consent is not withdrawn under this subsection,
    an amount appropriated for payment on public debt obligations and
    for United States coins and currency may be expended only dollar
    for dollar.
      (d)(1) In this subsection, "obligation" means any obligation
    (except United States currency) payable in United States money.
      (2) An obligation issued containing a gold clause or governed by
    a gold clause is discharged on payment (dollar for dollar) in
    United States coin or currency that is legal tender at the time of
    payment. This paragraph does not apply to an obligation issued
    after October 27, 1977.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 985; Pub. L. 99-185, Sec.
    2(d), Dec. 17, 1985, 99 Stat. 1178; Pub. L. 104-208, div. A, title
    II, Sec. 2609, Sept. 30, 1996, 110 Stat. 3009-475; Pub. L. 105-61,
    title VI, Sec. 641, Oct. 10, 1997, 111 Stat. 1318.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5118(a)      31:773d.                Aug. 27, 1935, ch. 780, 49
                                          Stat. 938.
    5118(b)      31:315b.                Jan. 30, 1934, ch. 6, Sec. 5,
                                          48 Stat. 340.
                 31:773a.
    5118(c)(     31:773b.
     1), (2)
    5118(c)(     31:773c.
     3)
    5118(d)      31:463.                 June 5, 1933, ch. 48, Sec. 1,
                                          48 Stat. 113.
                 31:463(note).           Oct. 28, 1977, Pub. L. 95-147,
                                          Sec. 4(c), 91 Stat. 1229.
    --------------------------------------------------------------------
      In subsection (a), before clause (1), the words "the phrase" are
    omitted as surplus. In clause (1), the words "declared to be
    against public policy by section 463 of this title" are omitted as
    surplus. Clause (2) is substituted for 31:773d(words after
    semicolon) for consistency in the revised title and to eliminate
    unnecessary words.
      In subsection (b), the words "after January 30, 1934" in 31:315b
    are omitted as executed. The words "that may be lawfully held" are
    substituted for "which may be lawfully acquired and are legal
    tender for public and private debts" in 31:773a for consistency in
    the subsection and to eliminate unnecessary words. The words "and
    that the owners of the gold clause securities of the United States
    shall be, at their election, entitled to receive immediate payment
    of the stated dollar amount thereof with interest to the date of
    payment or to prior maturity or to prior redemption date, whichever
    is earlier" in section 1 of the Act of August 27, 1935 (ch. 780, 49
    Stat. 938), are omitted as expired. The words "make the exchange"
    are substituted for "make such exchanges and payments upon
    presentation hereunder" to eliminate unnecessary words. The words
    "No gold shall after January 30, 1934, be coined" in 31:315b are
    omitted because of section 5112 of the revised title. The text of
    31:315b(proviso) is omitted as unnecessary because of the
    restatement. The text of 31:315b(last sentence) is omitted as
    executed.
      In subsection (c)(1), before clause (A), the word "Government" is
    substituted for "United States" for consistency in the revised
    title and with other titles of the United States Code. The words
    "to anyone" are added for clarity. The words "whether by way of
    suit, counterclaim, set-off, recoupment, or other affirmative
    action or defense in its own name or in the name of" are omitted as
    surplus. The word "employees" is added for consistency in the
    revised title and with other titles of the Code. The word
    "instrumentalities" is omitted as unnecessary because of section
    101 of the revised title. The word "claim" is substituted for
    "right, privilege, or power" to eliminate unnecessary words and for
    consistency in the revised title and with other titles of the Code.
    The words "in any proceeding of any nature whatsoever" are omitted
    as surplus. In clause (C), the words "or demand" are omitted as
    surplus.
      In subsection (c)(2), the words "any suit commenced prior to
    August 27, 1935, or which may be commenced by January 1, 1936" are
    omitted as executed. The words "referred to in this section" are
    omitted as surplus.
      In subsection (c)(3), the words "may be expended" are substituted
    for "an amount appropriated or authorized to be expended" and
    "shall be available for or expended in", and the words "dollar for
    dollar" are substituted for "on an equal and uniform dollar for
    dollar basis", to eliminate unnecessary words.
      In subsection (d)(1), the words "including every obligation of
    and to the United States" are omitted as surplus. The text of
    31:463(b)(words after semicolon) is omitted as unnecessary because
    of the restatement.
                                AMENDMENTS
      1997 - Subsec. (d)(2). Pub. L. 105-61 struck out at end "This
    paragraph shall apply to any obligation issued on or before October
    27, 1977, notwithstanding any assignment or novation of such
    obligation after October 27, 1977, unless all parties to the
    assignment or novation specifically agree to include a gold clause
    in the new agreement. Nothing in the preceding sentence shall be
    construed to affect the enforceability of a Gold Clause contained
    in any obligation issued after October 27, 1977 if the
    enforceability of that Gold Clause has been finally adjudicated
    before the date of enactment of the Economic Growth and Regulatory
    Paperwork Reduction Act of 1996."
      1996 - Subsec. (d)(2). Pub. L. 104-208 inserted at end "This
    paragraph shall apply to any obligation issued on or before October
    27, 1977, notwithstanding any assignment or novation of such
    obligation after October 27, 1977, unless all parties to the
    assignment or novation specifically agree to include a gold clause
    in the new agreement. Nothing in the preceding sentence shall be
    construed to affect the enforceability of a Gold Clause contained
    in any obligation issued after October 27, 1977 if the
    enforceability of that Gold Clause has been finally adjudicated
    before the date of enactment of the Economic Growth and Regulatory
    Paperwork Reduction Act of 1996."
      1985 - Subsec.(b). Pub. L. 99-185 struck out "or deliver" after
    "pay out" and inserted "(other than gold and silver coins)" before
    "that may be lawfully held".
                     EFFECTIVE DATE OF 1985 AMENDMENT
      Amendment by Pub. L. 99-185 effective Oct. 1, 1985, except that
    no coins may be issued or sold under section 5112(i) of this title
    before Oct. 1, 1986, see section 3 of Pub. L. 99-185, set out as a
    note under section 5112 of this title.
-End-
-CITE-
    31 USC Sec. 5119                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5119. Redemption and cancellation of currency
-STATUTE-
      (a) Except to the extent authorized in regulations the Secretary
    of the Treasury prescribes with the approval of the President, the
    Secretary may not redeem United States currency (including Federal
    reserve notes and circulating notes of Federal reserve banks and
    national banks) in gold. However, the Secretary shall redeem gold
    certificates owned by the Federal reserve banks at times and in
    amounts the Secretary decides are necessary to maintain the equal
    purchasing power of each kind of United States currency. When
    redemption in gold is authorized, the redemption may be made only
    in gold bullion bearing the stamp of a United States mint or assay
    office in an amount equal at the time of redemption to the currency
    presented for redemption.
      (b)(1) Except as provided in subsection (c)(1) of this section,
    the following are public debts bearing no interest:
        (A) gold certificates issued before January 30, 1934.
        (B) silver certificates.
        (C) notes issued under the Act of July 14, 1890 (ch. 708, 26
      Stat. 289).
        (D) Federal Reserve notes for which payment was made under
      section 4 of the Old Series Currency Adjustment Act.
        (E) United States currency notes, including those issued under
      section 1 of the Act of February 25, 1862 (ch. 33, 12 Stat. 345),
      the Act of July 11, 1862 (ch. 142, 12 Stat. 532), the resolution
      of January 17, 1863 (P.R. 9; 12 Stat. 822), section 2 of the Act
      of March 3, 1863 (ch. 73, 12 Stat. 710), or section 5115 of this
      title.
      (2) Redemption, cancellation, and destruction of currency. - The
    Secretary shall -
        (A) redeem any currency described in paragraph (1) from the
      general fund of the Treasury upon presentment to the Secretary;
      and
        (B) cancel and destroy such currency upon redemption.
    The Secretary shall not be required to reissue United States
    currency notes upon redemption.
      (c)(1) The Secretary may determine the amount of the following
    United States currency that will not be presented for redemption
    because the currency has been destroyed or irretrievably lost:
        (A) circulating notes of Federal reserve banks and national
      banks issued before July 1, 1929, for which the United States
      Government has assumed liability.
        (B) outstanding currency referred to in subsection (b)(1) of
      this section.
      (2) When the Secretary makes a determination under this
    subsection, the Secretary shall reduce the amount of that currency
    outstanding by the amount the Secretary determines will not be
    redeemed and credit the appropriate receipt account.
      (d) To provide a historical collection of United States currency,
    the Secretary may withhold from cancellation and destruction and
    transfer to a special account one piece of each design, issue, or
    series of each denomination of each kind of currency (including
    circulating notes of Federal reserve banks and national banks)
    after redemption. The Secretary may make appropriate entries in
    Treasury accounts because of the transfers.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 985; Pub. L. 102-390,
    title II, Sec. 226(b), Oct. 6, 1992, 106 Stat. 1630; Pub. L. 103-
    325, title VI, Sec. 602(g)(14), Sept. 23, 1994, 108 Stat. 2294.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5119(a)      31:408a(less last       Jan. 30, 1934, ch. 6, Secs.
                  proviso).               6(less last proviso), 11,
                                          15(1st sentence words between
                                          2d and 3d semicolons), 48
                                          Stat. 340, 342, 344.
                 31:444(1st sentence
                  words between 2d
                  and 3d semicolons).
                 31:822b.
    5119(b)(     31:405a-3.              June 24, 1967, Pub. L. 90-29,
     1)                                   Secs. 1, 2, 81 Stat. 77.
                 31:911.                 June 30, 1961, Pub. L. 87-66,
                                          Secs. 2, 5, 6, 9, 10, 75 Stat.
                                          146, 147.
                 31:915(a), (b).
    5119(b)(     31:404.                 May 31, 1878, ch. 146, 20
     2)                                   Stat. 87; June 30, 1961, Pub.
                                          L. 87-66, Sec. 7, 75 Stat. 147.
                 31:420.                 R.S. Sec. 3580.
                 31:914.
                 31:916.
    5119(c)(     31:915(c)(words
     1)           before last comma).
    5119(c)(     31:405a-2.
     2)
                 31:915(c)(words
                  after last comma).
    5119(d)      31:917.
    --------------------------------------------------------------------
      In subsection (a), the words "Secretary may not redeem" are
    substituted for "no . . . shall be redeemed" in 31:408a(less last
    proviso) because of the source provisions restated in section 321
    of the revised title. The words "United States currency (including
    Federal reserve notes and circulating notes of Federal reserve
    banks and national banks)" are substituted for "currency of the
    United States" and the text of 31:444(1st sentence words between 2d
    and 3d semicolons) for consistency with section 5103 of this title
    and to eliminate unnecessary words.
      In subsection (b)(1), before clause (A), the words "upon
    completion of the transfers and credits authorized and directed by
    section 912 of this title" in 31:915 and "and the amount of the
    payment credited as a public debt receipt in accordance with such
    section" are omitted as executed. In clause (B), the text of
    31:405a-3(last sentence) and 31:915(a)(4) is consolidated. The text
    of 31:405a-3(1st sentence) is omitted as executed. In clauses (C)
    and (E), the citations in parentheses are included only for
    information purposes.
      In subsection (b)(2), the words "cancel and destroy" are
    substituted for "retired" in 31:914 for consistency in the revised
    section. The words "paragraph (1) of this subsection" are
    substituted for "Any currency the funds for the redemption or
    security of which have been transferred pursuant to the provisions
    of section 912 of this title, and any Federal Reserve notes as to
    which payment has been made under section 913 of this title"
    because of the restatement. The words "presented to the Secretary"
    are substituted for "presentation at the Treasury" because of the
    source provisions restated in section 321(c) of the revised title.
    The text of 31:916 is omitted as unnecessary because of the
    restatement. The text of 31:404 and 31:420 is omitted as superseded
    by the source provisions restated in this subsection and subsection
    (c). The words "All acts and parts of acts in conflict herewith are
    hereby repealed" in the Act of May 31, 1878 (ch. 146, 20 Stat. 87),
    are omitted as executed.
      In subsection (c)(2), the words "When the Secretary makes a
    determination under this subsection" are added because of the
    restatement. The words "on the books of the Treasury" are omitted
    as surplus. The text of 31:405(e)(2)(1st sentence) is omitted as
    superseded by the source provisions restated in subsection (b).
      In subsection (d), the word "paper" is omitted as surplus. The
    words "(including circulating notes of Federal Reserve banks and
    national banks)" are substituted for "including bank notes" for
    consistency in the section. The words "heretofore or hereafter
    issued" are omitted as surplus.
-REFTEXT-
                            REFERENCES IN TEXT
      Act of July 14, 1890, ch. 708, 26 Stat. 289, referred to in
    subsec. (b)(1)(C), which was known as the Sherman Purchase of
    Silver Act of July 14, 1890, was classified to sections 408, 410,
    412, and 453 of former Title 31, and sections 122 and 145 of Title
    12, Banks and Banking, and was repealed by Pub. L. 97-258, Sec.
    5(b), Sept. 13, 1982, 96 Stat. 1069.
      Section 4 of the Old Series Currency Adjustment Act, referred to
    in subsec. (b)(1)(D), is section 4 of Pub. L. 87-66, June 30, 1961,
    75 Stat. 146, which was classified to section 913 of former Title
    31, and was repealed by Pub. L. 97-258, Sec. 5(b), Sept. 13, 1982,
    96 Stat. 1079.
      Acts February 25, 1862, July 11, 1862, and March 3, 1863, and
    resolution January 17, 1863, referred to in subsec. (b)(1)(E), are
    acts Feb. 25, 1862, ch. 33, 12 Stat. 345, July 11, 1862, ch. 142,
    12 Stat. 532, and Mar. 3, 1863, ch. 73, 12 Stat. 709, and
    resolution Jan. 17, 1863, 12 Stat. 822, respectively, which are not
    classified to the Code.
-MISC2-
                                AMENDMENTS
      1994 - Subsec. (b)(2). Pub. L. 103-325 inserted concluding
    provisions.
      1992 - Subsec. (b)(2). Pub. L. 102-390 amended par. (2)
    generally. Prior to amendment, par. (2) read as follows: "The
    Secretary shall redeem from the general fund of the Treasury and
    cancel and destroy currency referred to in paragraph (1) of this
    subsection when the currency is presented to the Secretary."
-End-
-CITE-
    31 USC Sec. 5120                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5120. Obsolete, mutilated, and worn coins and currency
-STATUTE-
      (a)(1) The Secretary of the Treasury shall melt obsolete and worn
    United States coins withdrawn from circulation. The Secretary may
    use the metal from melting the coins for reminting or may sell the
    metal. The Secretary shall account for the following in the coinage
    metal fund under section 5111(b) of this title:
        (A) obsolete and worn coins and the metal from melting the
      coins.
        (B) proceeds from the sale of the metal.
        (C) losses incurred in the sale of the metal.
        (D) losses incurred because of the difference between the face
      value of the coins melted and the coins minted from the metal.
      (2) The Secretary shall reimburse the coinage metal fund for
    losses under paragraph (1)(C) and (D) of this subsection out of
    amounts in the coinage profit fund under section 5111(b) of this
    title.
      (b) The Secretary shall -
        (1) cancel and destroy (by a secure process) obsolete,
      mutilated, and worn United States currency withdrawn from
      circulation; and
        (2) dispose of the residue of the currency and notes.
      (c) The Comptroller General shall audit the cancellation and
    destruction of United States currency and the accounting of the
    cancellation and destruction. Records the Comptroller General
    considers necessary to make an effective audit easier shall be made
    available to the Comptroller General.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 986.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5120(a)      31:317c.                Dec. 18, 1942, ch. 767, Sec.
                                          3, 56 Stat. 1065; July 23,
                                          1965, Pub. L. 89-81, Sec.
                                          203(a), 79 Stat. 256.
    5120(b)      31:421.                 R.S. Sec. 3581.
                 31:422.                 June 23, 1874, ch. 455, Sec.
                                          1(3d par. under heading
                                          "National Currency"), 18 Stat.
                                          206.
    5120(c)      31:49a.                 May 20, 1966, Pub. L. 89-427,
                                          Sec. 5, 80 Stat. 161.
    --------------------------------------------------------------------
      In subsection (a)(1), before clause (A), the word "obsolete" is
    substituted for "uncurrent" as being more precise. The words
    "withdrawn from circulation" are substituted for "received in the
    Treasury" for clarity. The words "heretofore or hereafter issued"
    are omitted as surplus. The words "metal from melting the coins"
    are substituted for "the resulting metal" because of the
    restatement. The word "reminting" is substituted for "coinage" for
    consistency in the revised title. The word "material" is omitted as
    being included in "metal". The words "The Secretary shall account"
    are substituted for "shall be accounted for by entries" because of
    the source provisions restated in section 321 of the revised title.
    In clause (D), the word "face" is substituted for "nominal or face"
    to eliminate unnecessary words. The words "coins minted from the
    metal" are substituted for "the amount the same will produce in new
    coin" for clarity.
      In subsection (a)(2), the words "The Secretary shall reimburse"
    are substituted for "fund shall be reimbursed" because of the
    source provisions restated in section 321 of the revised title. The
    text of 31:317c(proviso) is omitted as obsolete because the
    statutory limit on the coinage metal fund was removed by the
    restatement of section 3528 of the Revised Statutes by section
    206(a) of the Coinage Act of 1965 (Pub. L. 89-81, 79 Stat. 256).
      In subsection (b), before clause (1), the words "The Secretary
    shall" are substituted for "shall be destroyed in such manner and
    under such regulations as the Secretary of the Treasury may
    prescribe" in 31:421 because of the source provisions restated in
    section 321 of the revised title. In clause (1), the words "cancel
    and destroy" are substituted for "shall be destroyed" to conform to
    subsection (c) and section 5118(c) and (e) of the revised title.
    The words "(by a secure process)" are substituted for "may be
    destroyed by maceration instead of burning to ashes" in 31:422 to
    eliminate unnecessary words and because of the source provisions
    restated in section 321 of the revised title. The words "obsolete,
    mutilated, and worn . . . withdrawn from circulation" are
    substituted for "which by law are required to be taken up, and not
    reissued, when taken up" in 31:421 for consistency with subsection
    (a) and 12:124. The words "United States currency" are substituted
    for "all other notes" in 31:421 and "All national bank notes . . .
    and other obligations of the United States" for consistency in the
    revised title. The words "Mutilated United States notes, when
    replaced according to law" are omitted as superseded by the source
    provisions restated in section 5119(b) of the revised title. The
    text of the 3d paragraph(words before the first semicolon and
    between the 2d and last semicolons) under the heading "National
    Currency" in section 1 of the Act of June 23, 1874 (ch. 455, 18
    Stat. 206), is omitted as executed. In clause (2), the words
    "dispose of the residue of the currency and notes" are substituted
    for "The pulp from such macerated issue shall be disposed of only
    under the direction of the Secretary of the Treasury" in 31:422 to
    eliminate unnecessary words and for consistency in the revised
    title.
      In subsection (c), the word "currency" is substituted for
    "currency . . . unfit for circulation" to eliminate unnecessary
    words. The words "regardless of who is responsible for, and
    regardless of who performs, such cancellation, destruction, or
    accounting" are omitted as unnecessary because of the restatement.
    The word "record" is substituted for "books, documents, papers, and
    records", and the words "make . . . easier" are substituted for
    "facilitate", for consistency in the revised title and with other
    titles of the United States Code.
         TERMINATION OF COINAGE PROFIT FUND AND COINAGE METAL FUND
      All assets and liabilities of Coinage Profit Fund and Coinage
    Metal Fund transferred to United States Mint Public Enterprise Fund
    and both coinage funds to cease to exist as separate funds as their
    activities and functions are subsumed under and subject to United
    States Mint Public Enterprise Fund, see section 5136 of this title.
-End-
-CITE-
    31 USC Sec. 5121                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5121. Refining, assaying, and valuation of bullion
-STATUTE-
      (a) The Secretary of the Treasury shall -
        (1) melt and refine bullion;
        (2) as required, assay coins, metal, and bullion;
        (3) cast gold and silver bullion deposits into bars; and
        (4) cast alloys into bars for minting coins.
      (b) A person owning gold or silver bullion may deposit the
    bullion with the Secretary to be cast into fine, standard fineness,
    or unrefined bars weighing at least 5 troy ounces. When
    practicable, the Secretary shall weigh the bullion in front of the
    depositor. The Secretary shall give the depositor a receipt for the
    bullion stating the description and weight of the bullion. When the
    Secretary has to melt the bullion or remove base metals before the
    value of the bullion can be determined, the weight is the weight
    after the melting or removal of the metals. The Secretary may
    refuse a deposit of gold bullion if the deposit is less than $100
    in value or the bullion is so base that it is unsuitable for the
    operations of the Bureau of the Mint.
      (c) When the gold and silver are combined in bullion that is
    deposited and either the gold or silver is so little that it cannot
    be separated economically, the Secretary may not pay the depositor
    for the gold or silver that cannot be separated.
      (d)(1) Under conditions prescribed by the Secretary, a person may
    exchange unrefined bullion for fine bars when -
        (A) gold and silver are combined in the bullion in proportions
      that cannot be economically refined; or
        (B) necessary supplies of acids cannot be procured at
      reasonable rates.
      (2) The charge for refining in an exchange under this subsection
    may be not more than the charge imposed in an exchange of unrefined
    bullion for refined bullion.
      (e) The Secretary shall prepare bars for payment of deposits. The
    Secretary shall stamp each bar with a designation of the weight and
    fineness of the bar and a symbol the Secretary considers suitable
    to prevent fraudulent imitation of the bar.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 987.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5121(a)      31:274.                 R.S. Sec. 3508; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:277.                 R.S. Sec. 3507.
                 31:330.                 R.S. Sec. 3522.
                 31:343.                 R.S. Sec. 3530; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:344.                 R.S. Sec. 3531; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
    5121(b)      31:325(words before     R.S. Sec. 3518.
                  4th comma and after
                  last comma).
                 31:327(1st              R.S. Sec. 3519.
                  sentence).
                 31:328(1st              R.S. Sec. 3520; Mar. 3, 1887,
                  sentence).              ch. 396, Sec. 3, 24 Stat. 635.
                 31:329.                 R.S. Sec. 3521; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
    5121(c)      31:327(last
                  sentence).
                 31:328(last
                  sentence).
    5121(d)      31:360.                 R.S. Sec. 3546.
                 31:362.                 June 19, 1878, ch. 329, Sec.
                                          1(2d sentence words after last
                                          semicolon on p. 191), 20 Stat.
                                          191.
    5121(e)      31:325(words
                  between 4th and
                  last commas).
                 31:347.                 R.S. Sec. 3534; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
    --------------------------------------------------------------------
      In the section, the word "Secretary" is substituted for
    "superintendent", "superintendent of melting and refining
    department", "assayer", "Director of the Mint", and "Director of
    the Mint, with the approval of the Secretary of the Treasury"
    because of the source provisions restated in section 321(c) of the
    revised title.
      In subsection (a), clause (1) is added to provide a complete list
    of the duties and powers of the Secretary and for consistency with
    section 5131 of the revised title. In clause (2), the words "as
    required" are substituted for "required by the operations of the
    Bureau of the Mint" and "whenever required by the superintendent"
    in 31:277 to eliminate unnecessary words. The text of 31:330 is
    omitted as superseded by the source provisions restated in section
    321(c) of the revised title. In clause (3), the word "bars" is
    substituted for "bars conformable in all respects to the law" in
    31:274 to eliminate unnecessary words. In clause (4), the word
    "alloys" is substituted for "standard silver or gold, and alloys
    for minor" in 31:274, and the text of 31:343(last sentence) is
    omitted, because coins issued by the Secretary under this chapter
    are composed of alloys. The words "minting coins" are substituted
    for "coinage" for consistency in the revised chapter. The words
    "suitable for the superintendent of coining department, from the
    metals legally delivered to him for that purpose" in 31:274 and the
    text of 31:274(last sentence) and 31:343(1st, 2d sentences) are
    omitted as superseded by the source provisions restated in section
    321(c) of the revised title. The text of 31:344(last sentence) is
    omitted as unnecessary because of the restatement of the source
    provisions in sections 5112 and 5113 of the revised title.
      In subsections (b) and (d), the word "unrefined" is substituted
    for "unparted" for consistency in the revised chapter.
      In subsection (b), the words "At the option of the owner" and "as
    he may prefer" in 31:325 and "for his benefit" in 31:327 are
    omitted as unnecessary because of the restatement. The words
    "weighing at least" are substituted for "and no such bars shall be
    issued of a less weight than" in 31:325 to eliminate unnecessary
    words. The word "troy" is added for clarity. The words "into coin"
    in section 3519 of the Revised Statutes are omitted because the
    coinage of gold was discontinued by 31:315b. The text of
    31:329(last sentence) is omitted because of the source provisions
    restated in section 321(c) of the revised title. The words "and no
    deposit of silver for other coinage shall be received" in
    31:328(1st sentence) are omitted as unnecessary because of the
    restatement.
      In subsection (c), the word "economically" is substituted for
    "advantageously" in 31:327(last sentence) for consistency in the
    section. The text of 31:328(last sentence) is omitted as
    unnecessary because of the source provisions restated in section
    5121(a) of the revised title.
      In subsection (d)(1), before clause (A), the words "at any of the
    mints" in 31:360(1st sentence) are omitted as superseded by the
    source provisions restated in section 321(c) of the revised title.
    The text of 31:360(2d sentence) is omitted as unnecessary because
    of the source provisions restated in section 5121(a) of the revised
    title.
      In subsection (d)(2), the words "in an exchange under this
    subsection" are added for clarity. The word "refining" is
    substituted for "refining or parting" for consistency in the
    revised chapter.
      In subsection (e), the word "suitable" is substituted for
    "expedient" in 31:325(words between 4th and last commas) for
    clarity. The words "but the fineness thereof shall be ascertained
    and" in 31:347 are omitted as unnecessary because of the source
    provisions restated in section 5121(a) of the revised title.
                   POSSESSION OF GOLD COINS AND BULLION
      The possession of gold coins and bullion was prohibited except
    under Government license by Ex. Ord. No. 6260, eff. Aug. 28, 1933.
    That prohibition was revoked by Ex. Ord. No. 11825, Dec. 31, 1974,
    40 F.R. 1003, eff. Dec. 31, 1974. See notes set out under section
    95a of Title 12, Banks and Banking.
-End-
-CITE-
    31 USC Sec. 5122                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER II - GENERAL AUTHORITY
-HEAD-
    Sec. 5122. Payment to depositors
-STATUTE-
      (a) The Secretary of the Treasury shall determine the fineness,
    weight, and value of each deposit and bar under section 5121 of
    this title. The value and the amount of charges under subsection
    (b) of this section shall be based on the fineness and weight of
    the bullion. The Secretary shall give the depositor a statement of
    the charges and the net amount of the deposit to be paid in money
    or bars of the same species of bullion as that deposited.
      (b) The Secretary shall impose a charge equal to the average cost
    of material, labor, waste, and use of machinery of a United States
    mint or assay office for -
        (1) melting and refining bullion;
        (2) using copper as an alloy when bullion deposited is above
      standard;
        (3) separating gold and silver combined in the bullion; and
        (4) preparing bars.
      (c) The Secretary shall pay to the depositor or to a person
    designated by the depositor money or bars equivalent to the bullion
    deposited as soon as practicable after the value of the deposit is
    determined. If demanded, the Secretary shall pay depositors in the
    order in which the bullion is deposited with the Secretary.
    However, when there is an unavoidable delay in determining the
    value of a deposit, the Secretary shall pay subsequent depositors.
    When practicable and convenient, the Secretary shall pay depositors
    in the denominations requested by the depositor. After the
    depositor is paid, the bullion is the property of the United States
    Government.
      (d) To allow the Secretary to pay depositors with as little delay
    as possible, the Secretary shall keep in the mints and assay
    offices, when possible, money and bullion the Secretary decides are
    convenient and necessary.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 987.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5122(a)      31:273(last             R.S. Sec. 3506(last sentence).
                  sentence).
                 31:331.                 R.S. Sec. 3523.
                 31:334.                 R.S. Sec. 3525.
    5122(b)      31:332.                 R.S. Sec. 3524; Jan. 14, 1875,
                                          ch. 15, Sec. 2(words before
                                          comma), 18 Stat. 296; Mar. 1,
                                          1881, ch. 95, 21 Stat. 374;
                                          Mar. 3, 1887, ch. 396, Sec. 3,
                                          24 Stat. 635.
    5122(c)      31:357.                 R.S. Sec. 3544.
                 31:358(2d sentence).    R.S. Sec. 3545; June 19, 1878,
                                          ch. 329, Sec. 1(last par. 1st
                                          sentence words before 1st
                                          semicolon under heading "Mint
                                          at Denver, Colorado"), 20
                                          Stat. 191.
    5122(d)      31:358(1st, last
                  sentences).
    --------------------------------------------------------------------
      In subsection (a), the words "Secretary of the Treasury" are
    substituted for "he" in 31:273(last sentence) because of the source
    provisions restated in section 321 of the revised title. The words
    "fineness, weight, and value of each deposit and bar" and "The
    value and the amount of charges . . . shall be based on the
    fineness and weight of the bullion" are substituted for "From the
    report of the assayer and the weight of the bullion" for clarity
    and because of the restatement. The words "or deductions, if any"
    are omitted as being included in "charges". The word "money" is
    substituted for "in coins" for clarity. The text of 31:331 and 334
    is omitted as unnecessary because of the restatement. The text of
    31:273(last sentence words after 7th comma) is omitted because of
    the source provisions restated in section 321 of the revised title.
      In subsection (b), the words "Secretary shall impose a charge"
    are substituted for "shall be fixed, from time to time, by the
    director, with the concurrence of the Secretary of the Treasury"
    because of the source provisions restated in section 321(c) of the
    revised title. The words "for toughening when metals are contained
    in it which render it unfit for coinage" are omitted as obsolete
    because the Secretary of the Treasury has authority to mint coins
    containing silver only under section 5112(e) of the revised title
    and the Secretary holds sufficient silver to mint those coins. See
    Sen. Rept. No. 91-1084 (1970).
      In subsection (c), the words "person designated by the depositor"
    are substituted for "his order" for clarity. The words "an
    unavoidable delay in determining the value of a deposit" are
    substituted for "delay in manipulating a refractory deposit, or for
    any other unavoidable cause" in 31:357 for clarity.
      In subsection (d), the words "the Secretary to pay depositors"
    are substituted for "the several mints and assay offices of the
    United States to make returns to depositors" because of the source
    provisions restated in section 321(c) of the revised title. The
    words "when the state of the Treasury will admit thereof" are
    omitted as surplus. The words "under such rules and regulations as
    may be prescribed by the said Secretary" are omitted as unnecessary
    because of section 321(b) of the revised title. The text of
    31:358(last sentence) is omitted as surplus.
-End-
-CITE-
    31 USC SUBCHAPTER III - UNITED STATES MINT                  01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER III - UNITED STATES MINT
-HEAD-
                    SUBCHAPTER III - UNITED STATES MINT
-MISC1-
                                AMENDMENTS
      1992 - Pub. L. 102-390, title II, Sec. 225(b)(5), Oct. 6, 1992,
    106 Stat. 1630, substituted "UNITED STATES MINT" for "BUREAU OF THE
    MINT" in subchapter heading.
-End-
-CITE-
    31 USC Sec. 5131                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER III - UNITED STATES MINT
-HEAD-
    Sec. 5131. Organization
-STATUTE-
      (a) The United States Mint has -
        (1) a United States mint at Philadelphia, Pennsylvania.
        (2) a United States mint at Denver, Colorado.
        (3) a United States mint at West Point, New York.
        (4) a United States mint at San Francisco, California.
      (b) The Secretary of the Treasury shall carry out duties and
    powers related to refining and assaying bullion, minting coins,
    striking medals, and numismatic items at the mints. However, until
    the Secretary decides that the mints are adequate for minting and
    striking an ample supply of coins and medals, the Secretary may use
    any facility of the United States Mint to mint coins and strike
    medals and to store coins and medals.
      (c) Laws on mints, officers and employees of mints, and
    punishment of offenses related to mints and minting coins apply to
    assay offices, as applicable.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 988; Pub. L. 100-274,
    Sec. 2(a)-(c)(2), Mar. 31, 1988, 102 Stat. 48; Pub. L. 102-390,
    title II, Secs. 224, 225(b)(3), (4), Oct. 6, 1992, 106 Stat. 1629;
    Pub. L. 104-208, div. A, title I, Sec. 101(f) [title V, Secs. 503,
    522], Sept. 30, 1996, 110 Stat. 3009-314, 3009-344, 3009-347; Pub.
    L. 104-329, title III, Sec. 304, Oct. 20, 1996, 110 Stat. 4015.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5131(a)      31:251(1st sentence     R.S. Sec. 343(1st sentence
                  words after 1st         words after 1st comma).
                  comma).
                 31:261.                 R.S. Sec. 3495; restated July
                                          11, 1962, Pub. L. 87-534, Sec.
                                          1, 76 Stat. 155.
    5131(b)      31:278.                 R.S. Sec. 3553.
                 31:283(1st              R.S. Sec. 3558(1st sentence);
                  sentence).              July 11, 1962, Pub. L. 87-534,
                                          Sec. 2, 76 Stat. 155; restated
                                          July 23, 1965, Pub. L. 89-81,
                                          Sec. 201, 79 Stat. 256.
                 31:324f.                Oct. 18, 1973, Pub. L. 93-127,
                                          Sec. 3, 87 Stat. 456.
                 31:361(1st sentence     June 19, 1878, ch. 329, Sec.
                  words before 1st        1(1st sentence on p. 191), 20
                  comma).                 Stat. 191.
                                         July 7, 1898, ch. 571(7th par.
                                          1st sentence words before 1st
                                          comma under heading "Mints and
                                          Assay Offices"), 30 Stat. 661.
    5131(c)      31:263.                 R.S. Sec. 3496; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:279.                 R.S. Sec. 3554; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:281.                 R.S. Sec. 3555; Aug. 23, 1912,
                                          ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384; June 6, 1972, Pub. L.
                                          92-310, Sec. 231(g), 86 Stat.
                                          210.
    5131(d)      31:287.                 R.S. Sec. 3562.
    5131(e)      31:292.                 Aug. 20, 1963, Pub. L. 88-102,
                                          Sec. 2, 77 Stat. 129.
    --------------------------------------------------------------------
      In subsection (a), the words "The Bureau of the Mint has" are
    substituted for "embracing in its organization and under its
    control all mints . . . and all assay offices" in 31:251(1st
    sentence words after 1st comma) because of the restatement and to
    eliminate unnecessary words. The words "for the manufacture of coin
    . . . for the stamping of bars, which have been, or which may be,
    authorized by law" are omitted as superseded by the source
    provisions restated in subsection (b).
      In subsection (b), the words "The Secretary of the Treasury shall
    carry out duties and powers" are added because of the source
    provisions restated in section 321 of the revised title. The words
    "related to refining and assaying bullion, minting coins, striking
    medals, and numismatic items at the mints and assay offices" are
    substituted for 31:278(1st sentence words before comma), 283(1st-
    26th words), and 361(1st sentence words before 1st comma) to
    eliminate unnecessary words and for consistency with the source
    provisions restated in sections 5111(a)(1)-(3) and 5120(a) of the
    revised title. The words "and not coin" in 31:278 are omitted as
    unnecessary because of the restatement. The words "and no metals
    shall be purchased for minor coinage" are omitted as superseded by
    section 5111(b) of the revised title. The text of 31:278(2d, last
    sentences) is omitted as obsolete because the Secretary of the
    Treasury has authority to mint coins containing silver only under
    section 5112(e) of the revised title and the Secretary holds
    sufficient silver to mint those coins. See Sen. Rept. No. 91-1084
    (1970). The words "except that until the Secretary of the Treasury
    determines that the mints of the United States are adequate for the
    production of ample supplies of coins, its facilities may be used
    for the production of coins" in 31:283(1st sentence) are omitted as
    superseded by the source provisions restated in the subsection. The
    words "striking" and "strike" are added for consistency with
    section 5111 of the revised title.
      In subsection (c), the text of 31:281(words before semicolon) is
    omitted as superseded by the source provisions restated in section
    321 of the revised title, and 31:281(words after semicolon) is
    omitted as superseded by the source provisions restated in
    subsection (d) and by 5:ch. 35, subch. II.
      In subsection (e), the words "the mint at Philadelphia" are
    substituted for "any building constructed pursuant to this
    subchapter" because that is the building that was constructed under
    the subchapter.
                                AMENDMENTS
      1996 - Subsecs. (c), (d). Pub. L. 104-208, Sec. 101(f) [title V,
    Secs. 503, 522], and Pub. L. 104-329, amended section identically,
    redesignating subsec. (d) as (c) and striking out former subsec.
    (c) which read as follows: "Each mint has a superintendent and an
    assayer appointed by the President, by and with the advice and
    consent of the Senate. The mint at Philadelphia has an engraver
    appointed by the President, by and with the advice and consent of
    the Senate."
      1992 - Subsec. (a). Pub. L. 102-390, Sec. 225(b)(3), substituted
    "United States Mint" for "Bureau of the Mint" in introductory
    provisions.
      Subsec. (b). Pub. L. 102-390, Sec. 225(b)(4), substituted "United
    States Mint" for "Bureau".
      Subsec. (e). Pub. L. 102-390, Sec. 224, struck out subsec. (e)
    which read as follows: "The Secretary shall operate, maintain, and
    have custody of, the mint at Philadelphia. However, the
    Administrator of General Services shall make repairs and
    improvements to the mint."
      1988 - Subsec. (a)(3). Pub. L. 100-274, Sec. 2(b), substituted
    "mint at West Point, New York" for "assay office at New York, New
    York".
      Subsec. (a)(4). Pub. L. 100-274, Sec. 2(a), substituted "mint"
    for "assay office".
      Subsec. (b). Pub. L. 100-274, Sec. 2(c)(1), struck out "and assay
    offices, except that only bars may be made at the assay offices"
    before period at end of first sentence.
      Subsec. (c). Pub. L. 100-274, Sec. 2(c)(2), substituted "Each
    mint has" for "Each mint and the assay office at New York have".
                   AUTHORITY OF SPECIAL POLICE OFFICERS
      For authority of special police officers of United States Mint
    over buildings and land under control and in vicinity of the Mint
    and to protection in transit of bullion, coins, dies, and other
    property and assets of the Mint, see section 101(f) [title V, Sec.
    517(2), (3)] of Pub. L. 104-208, set out as a note under section
    5141 of this title.
-End-
-CITE-
    31 USC Sec. 5132                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER III - UNITED STATES MINT
-HEAD-
    Sec. 5132. Administrative
-STATUTE-
      (a)(1) Except as provided in this chapter, the Secretary of the
    Treasury shall deposit in the Treasury as miscellaneous receipts
    amounts the Secretary receives from the operations of the United
    States Mint. Expenditures made from appropriated funds which are
    subsequently determined to be properly chargeable to the Numismatic
    Public Enterprise Fund established by section 5134 shall be
    reimbursed by such Fund to the appropriation. The Secretary shall
    annually sell to the public, directly and by mail, sets of
    uncirculated and proof coins minted under paragraphs (1) through
    (6) of section 5112(a) of this title, and shall solicit such sales
    through the use of the customer list of the United States Mint.
    Except with respect to amounts deposited in the Numismatic Public
    Enterprise Fund in accordance with section 5134, the Secretary may
    not use amounts the Secretary receives from profits on minting
    coins or from charges on gold or silver bullion under section 5122
    to pay officers and employees.
      (2)(A) In addition to the coins described in paragraph (1), the
    Secretary shall sell annually to the public directly and by mail,
    sets of proof coins minted under paragraphs (1) through (6) of
    section 5112(a).
      (B) Notwithstanding any other provision of law, for purposes of
    this paragraph -
        (i) the coins described in paragraphs (2) through (4) of
      section 5112(a) shall be made of an alloy of 90 percent silver
      and 10 percent copper; and
        (ii) all coins minted under this paragraph shall have a mint
      mark indicating the place of manufacture.
      (C) All coins minted under this paragraph shall be considered to
    be -
        (i) numismatic items for purposes of paragraph (1) and section
      5111(a)(3); and
        (ii) legal tender, as provided in section 5103.
      (D) The Secretary shall obtain silver for coins minted under this
    paragraph by purchase from stockpiles established under the
    Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et
    seq.). At such time as the silver stockpile is depleted, the
    Secretary shall obtain silver for such coins by purchase of silver
    mined from natural deposits in the United States or in a territory
    or possession of the United States not more than 1 year following
    the month in which the ore from which it is derived was mined. The
    Secretary shall pay not more than the average world price for such
    silver. The Secretary may issue such regulations as may be
    necessary to carry out this subparagraph.
      (3) Not more than $54,208,000 may be appropriated to the
    Secretary for the fiscal year ending on September 30, 1993, to pay
    costs of the mints. Not more than $965,000 of amounts appropriated
    pursuant to the preceding sentence shall remain available until
    expended for research and development.
      (b) To the extent the Secretary decides is necessary, the
    Secretary may use amounts received from depositors for refining
    bullion and the proceeds from the sale of byproducts (including
    spent acids from surplus bullion recovered in refining processes)
    to pay the costs of refining the bullion (including labor,
    material, waste, and loss on the sale of sweeps). The Secretary may
    not use amounts appropriated for the mints to pay those costs.
      (c) The Secretary shall make an annual report at the end of each
    fiscal year on the operation of the United States Mint.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 988; Pub. L. 97-452, Sec.
    1(21), Jan. 12, 1983, 96 Stat. 2477; Pub. L. 98-151, Sec. 123, Nov.
    14, 1983, 97 Stat. 979; Pub. L. 98-216, Sec. 1(7), Feb. 14, 1984,
    98 Stat. 4; Pub. L. 99-61, title II, Sec. 204, July 9, 1985, 99
    Stat. 116; Pub. L. 99-185, Sec. 2(e), Dec. 17, 1985, 99 Stat. 1178;
    Pub. L. 100-274, Secs. 1, 2(c)(3), Mar. 31, 1988, 102 Stat. 48;
    Pub. L. 101-585, Sec. 2, Nov. 15, 1990, 104 Stat. 2874; Pub. L. 102-
    390, title II, Secs. 211, 221(c)(1), 225(b)(3), (4), Oct. 6, 1992,
    106 Stat. 1624, 1628, 1629; Pub. L. 106-445, Sec. 2(a), Nov. 6,
    2000, 114 Stat. 1931.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
                                 1982 ACT
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5132(a)      31:273(1st, 2d          R.S. Sec. 3506(1st, 2d
                  sentences).             sentences).
                 31:369.                 R.S. Sec. 3552; restated May
                                          10, 1950, ch. 172, 64 Stat.
                                          157; Sept. 5, 1962, Pub. L.
                                          87-643, Sec. 2, 76 Stat. 440;
                                          Aug. 13, 1981, Pub. L. 97-35,
                                          Sec. 382(b)(1), 95 Stat. 432.
    5132(b)      31:361(1st sentence     June 19, 1878, ch. 329, Sec.
                  words after 1st         1(2d sentence words before
                  comma, last             last semicolon on p. 191), 20
                  sentence).              Stat. 191.
                                         July 7, 1898, ch. 571(7th par.
                                          1st sentence words after 1st
                                          comma, last sentence under
                                          heading "Mints and Assay
                                          Offices"), 30 Stat. 661.
    5132(c)      31:253.                 R.S. Sec. 345.
    --------------------------------------------------------------------
      In subsection (a)(1), the words "Secretary of the Treasury shall
    deposit in the Treasury as miscellaneous receipts" are substituted
    for "shall . . . be covered into the Treasury" in 31:369 because of
    the source provisions restated in section 321(c) of the revised
    title. The words "amounts the Secretary receives from the
    operations of the Bureau of the Mint" are substituted for "The
    money arising from all charges and deductions on and from gold and
    silver bullion and from all other sources" for clarity and to
    eliminate unnecessary words. The words "amounts from" are
    substituted for "money arising from the manufacture and sale of" to
    eliminate unnecessary words. The words "numismatic items" are
    substituted for "medals, proof coins, and uncirculated coins" for
    consistency with section 5111(a)(3) of the revised title. The words
    "minting coins" are substituted for "silver or minor coinage" for
    consistency with section 5112 of the revised title. The words "made
    by law" are omitted as surplus. The words "on estimates furnished
    by the Secretary of the Treasury" are omitted because of section
    1108 of the revised title. The text of 31:273(1st, 2d sentences) is
    omitted because of section 321 of the revised title and the other
    source provisions restated in this chapter.
      In subsection (a)(2), the words "ending September 30" are added
    for clarity and consistency in the revised title. The words "to pay
    costs" are substituted for "for all expenditures (salaries and
    expenses)" for consistency in the revised title and to eliminate
    unnecessary words. The words "not herein otherwise provided for"
    are omitted as surplus.
      In subsection (b), the word "refining" is substituted for
    "parting and refining" for consistency in the revised chapter. The
    words "mints and assay offices" are substituted for "coinage mints
    and assay office at New York" because of the source provisions
    restated in section 5131(b) of the revised title. The words
    "pursuant to law" are omitted as surplus.
      In subsection (c), the text of 31:253(less 18th-38th words) is
    omitted as superseded by the source provisions restated in section
    321(c) of the revised title.
                                 1983 ACT
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5132(a)(     31 App.:369.            Sept. 8, 1982, Pub. L. 97-253,
     2)                                   Sec. 202, 96 Stat. 790.
    --------------------------------------------------------------------
                                 1984 ACT
      This is necessary because the language was restated by section
    382(h)(1) of the Omnibus Budget Reconciliation Act of 1981 (Pub. L.
    97-35, 95 Stat. 432) but inadvertently codified as 31:5132(a)(1)
    (last sentence) by section 1 of the Act of September 13, 1982 (Pub.
    L. 97-258, 96 Stat. 989.)
-REFTEXT-
                            REFERENCES IN TEXT
      The Strategic and Critical Materials Stock Piling Act, referred
    to in subsec. (a)(2)(D), is act June 7, 1939, ch. 190, as revised
    generally by Pub. L. 96-41, Sec. 2, July 30, 1979, 93 Stat. 319,
    which is classified generally to subchapter III (Sec. 98 et seq.)
    of chapter 5 of Title 50, War and National Defense. For complete
    classification of this Act to the Code, see section 98 of Title 50
    and Tables.
-MISC2-
                                AMENDMENTS
      2000 - Subsec. (a)(2)(B)(i). Pub. L. 106-445 substituted
    "paragraphs (2)" for "paragraphs (1)".
      1992 - Subsec. (a)(1). Pub. L. 102-390, Sec. 225(b)(3),
    substituted "United States Mint" for "Bureau of the Mint" in two
    places.
      Pub. L. 102-390, Sec. 221(c)(1)(A), amended second sentence
    generally. Prior to amendment, second sentence read as follows:
    "However, amounts from numismatic items shall be reimbursed to the
    current appropriation used to pay the cost of preparing and selling
    the items."
      Pub. L. 102-390, Sec. 221(c)(1)(B), amended last sentence
    generally. Prior to amendment, last sentence read as follows: "The
    Secretary may not use amounts the Secretary receives from profits
    on minting coins or from charges on gold or silver bullion under
    section 5122 of this title to pay officers and employees."
      Subsec. (a)(3) to (5). Pub. L. 102-390, Sec. 211, which directed
    the substitution of "$54,208,000" for "$46,511,000" and "1993" for
    "1988" in par. (2), and the striking out of pars. (3) and (4), was
    executed by making the substitution in par. (3) and striking out
    pars. (4) and (5) to reflect the probable intent of Congress and
    the intervening amendment by Pub. L. 101-585 redesignating pars.
    (2) to (4) as (3) to (5). See 1990 Amendment note below. Prior to
    being struck out, par. (4) provided that not more than $75,000 be
    expended for purpose of hosting International Mint Directors'
    Conference in the United States in 1988, and par. (5) authorized
    Director of the Mint to collect from participants at Conference
    reasonable fees and assessments in connection with Conference,
    administer such amounts, and spend such amounts to pay expenses
    incurred in connection with Conference.
      Subsec. (c). Pub. L. 102-390, Sec. 225(b)(4), substituted "United
    States Mint" for "Bureau".
      1990 - Subsec. (a)(2) to (5). Pub. L. 101-585 added par. (2),
    redesignated former pars. (2) to (4) as (3) to (5), respectively,
    and substituted "(3)" for "(2)" in par. (4).
      1988 - Subsec. (a)(2) to (4). Pub. L. 100-274, Sec. 1, added
    pars. (2) to (4) and struck out former par. (2) which read as
    follows: "Not more than $50,165,000 may be appropriated to the
    Secretary for the fiscal year ending September 30, 1983, to pay
    costs of the mints and assay offices."
      Subsec. (b). Pub. L. 100-274, Sec. 2(c)(3), struck out "and assay
    offices" after "amounts appropriated for the mints" in last
    sentence.
      1985 - Subsec. (a)(1). Pub. L. 99-185 inserted "paragraphs (1)
    through (6) of" before "section 5112(a) of this title".
      Pub. L. 99-61 inserted "minted under section 5112(a) of this
    title" after "proof coins".
      1984 - Subsec. (a)(1). Pub. L. 98-216 struck out provision
    requiring the Secretary to pay the costs of the mints and assay
    offices not provided for in this subsection out of appropriations.
      1983 - Subsec. (a)(1). Pub. L. 98-151 inserted provisions
    relating to authority of Secretary to sell sets of uncirculated and
    proof coins and solicitation of such sales through the customer
    lists of the Bureau of the Mint.
      Subsec. (a)(2). Pub. L. 97-452 substituted "$50,165,000" for
    "$54,706,000", and "1983" for "1982".
                     EFFECTIVE DATE OF 1992 AMENDMENT
      Section 221(e) of Pub. L. 102-390 provided that: "The amendments
    made by this section [enacting section 5134 of this title, amending
    this section, amending and repealing provisions set out as notes
    under section 5112 of this title] shall apply with respect to
    fiscal years beginning after fiscal year 1992."
                     EFFECTIVE DATE OF 1985 AMENDMENTS
      Amendment by Pub. L. 99-185 effective Oct. 1, 1985, except that
    no coins may be issued or sold under section 5112(i) of this title
    before Oct. 1, 1986, see section 3 of Pub. L. 99-185, set out as a
    note under section 5112 of this title.
      Amendment by Pub. L. 99-61 effective Oct. 1, 1985, with exception
    as to issuance or sale of coins under section 5112(e) of this
    title, see section 205 of Pub. L. 99-61, set out as a note under
    section 5112 of this title.
                     EFFECTIVE DATE OF 1984 AMENDMENT
      Amendment by Pub. L. 98-216 effective Sept. 13, 1982, see section
    4(c) of Pub. L. 98-216, set out as a note under section 490 of
    Title 18, Crimes and Criminal Procedure.
             TERMINATION OF NUMISMATIC PUBLIC ENTERPRISE FUND
      All assets and liabilities of Numismatic Public Enterprise Fund
    transferred to United States Mint Public Enterprise Fund and
    Numismatic Public Enterprise Fund to cease to exist as separate
    fund as its activities and functions are subsumed under and subject
    to United States Mint Public Enterprise Fund, see section 5136 of
    this title.
-End-
-CITE-
    31 USC Sec. 5133                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER III - UNITED STATES MINT
-HEAD-
    Sec. 5133. Settlement of accounts
-STATUTE-
      (a) The Secretary of the Treasury shall -
        (1) charge the superintendent of each mint with the amount in
      weight of standard metal of bullion the superintendent receives
      from the Secretary;
        (2) credit each superintendent with the amount in weight of
      coins, clippings, and other bullion the superintendent returns to
      the Secretary; and
        (3) charge separately to each superintendent, who shall account
      for, copper to be used in the alloy of gold and silver bullion.
      (b) Settlement of Accounts. -
        (1) In general. - At least once each year, the Secretary of the
      Treasury shall settle the accounts of the superintendents of the
      mints.
        (2) Procedure. - At any settlement under this subsection, the
      superintendent shall -
          (A) return to the Secretary any coin, clipping, or other
        bullion in the possession of the superintendent; and
          (B) present the Secretary with a statement of bullion
        received and returned since the last settlement (including any
        bullion returned for settlement).
        (3) Audit. - The Secretary shall -
          (A) audit the accounts of each superintendent; and
          (B) allow each superintendent the waste of precious metals
        that the Secretary determines is necessary -
            (i) for refining and minting (within the limitations which
          the Secretary shall prescribe); and
            (ii) for casting fine gold and silver bars (within the
          limit prescribed for refining), except that any waste
          allowance under this clause may not apply to deposit
          operations.
      (c) After settlement, the Secretary shall compare the amount of
    gold and silver bullion and coins on hand with the total
    liabilities of the mints. The Secretary also shall make a statement
    of the ordinary expense account.
      (d) The Secretary shall procure for each mint a series of
    standard weights corresponding to the standard troy pound of the
    National Institute of Standards and Technology of the Department of
    Commerce. The series shall include a one pound weight and multiples
    and subdivisions of one pound from .01 grain to 25 pounds. At least
    once a year, the Secretary shall test the weights normally used in
    transactions at the mints against the standard weights.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 989; Pub. L. 100-274,
    Sec. 2(c)(4)-(7), (9), (10), Mar. 31, 1988, 102 Stat. 49; Pub. L.
    100-418, title V, Sec. 5115(c), Aug. 23, 1988, 102 Stat. 1433.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5133(a)      31:354(1st              R.S. Sec. 3541; Aug. 23, 1912,
                  sentence).              ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384.
                 31:355(last             R.S. Sec. 3542; Aug. 23, 1912,
                  sentence).              ch. 350, Sec. 1(last par.
                                          words before 7th comma under
                                          heading "Assay Office at Salt
                                          Lake City, Utah"), 37 Stat.
                                          384; July 23, 1965, Pub. L.
                                          89-81, Sec. 207, 79 Stat. 257.
    5133(b)      31:283(2d, last         R.S. Sec. 3558(2d, last
                  sentences).             sentences); restated July 11,
                                          1962, Pub. L. 87-534, Sec. 2,
                                          76 Stat. 155.
                 31:354(last
                  sentence).
                 31:355(1st, 2d
                  sentences).
    5133(c)      31:356.                 R.S. Sec. 3543.
    5133(d)      31:365.                 R.S. Sec. 3549; restated Mar.
                                          4, 1911, ch. 268, Sec. 2, 36
                                          Stat. 1354.
    --------------------------------------------------------------------
      In the section, the word "Secretary" is substituted for
    "superintendent" and "Director of the Mint" in 31:354, 356, 365,
    and the word "Superintendent" is substituted for "superintendent of
    coining department" in 31:354 and 355 and "superintendent of
    melting and refining", because of the source provisions restated in
    section 321(c) of the revised title.
      In subsection (a), the words "superintendent of each mint and the
    assay office at New York and the officer in charge of the assay
    office at San Francisco" are added because of the source provisions
    restated in section 5131(b) and (c) of the revised title.
      In subsection (b), before clause (1), the words "shall settle"
    are substituted for "and at such time as the . . . shall appoint,
    there shall be an accurate and full settlement" in 31:354(last
    sentence) to eliminate unnecessary words. In clause (1), the words
    "The Secretary shall audit" are substituted for "When all the
    coins, clippings, and other bullion have been delivered to the
    superintendent, it shall be his duty to examine" in 31:355(1st, 2d
    sentences) to eliminate unnecessary words. In clause (2), the words
    "the waste of precious metals . . . decides is necessary for
    refining and minting" are substituted for "The difference between
    the amount charged and credited to each officer . . . as necessary
    wastage, if . . . shall be satisfied that there has been a bona
    fide waste of the precious metals" for consistency in the
    subsection and to eliminate unnecessary words. In clause (3), the
    words "limitations prescribed for refining" are substituted for
    "that provided for the melter and refiner" in 31:283(2d, last
    sentences) for consistency in the subsection. The word "bona fide"
    is omitted as being included in "necessary".
      In subsection (c), the words "It shall also be the duty of the
    superintendent to forward a correct statement of his balance sheet"
    are omitted as superseded by the source provisions restated in
    section 321(c) of the revised title. The words "mints and assay
    offices" are substituted for "mint" for consistency in the section.
      In subsection (d), the words "National Bureau of Standards of the
    Department of Commerce" are substituted for "Bureau of Standards of
    the United States" because of 15:1511. The words "from .01 grain"
    are substituted for "from the hundredths part of a grain" for
    consistency. The words "under the inspection of the superintendent
    and assayer" are omitted as superseded by the source provisions
    restated in section 321(c) of the revised title. The words "and the
    accuracy of those used at the mint at Philadelphia shall be tested
    annually in the presence of the assay commissioners, at the time of
    the annual examination and test of coins" are omitted because the
    position of assay commissioner was abolished by section 201 of the
    Act of March 14, 1980 (Pub. L. 96-209, 94 Stat. 98).
                                AMENDMENTS
      1988 - Subsec. (a)(1). Pub. L. 100-274, Sec. 2(c)(4), substituted
    "each mint" and "superintendent receives" for "each mint and the
    assay office at New York and the officer in charge of the assay
    office at San Francisco" and "superintendent or officer receives",
    respectively.
      Subsec. (a)(2). Pub. L. 100-274, Sec. 2(c)(5), substituted
    "credit each superintendent with the amount" and "superintendent
    returns" for "credit each superintendent and the officer with the
    amount" and "superintendent or officer returns", respectively.
      Subsec. (a)(3). Pub. L. 100-274, Sec. 2(c)(6), substituted
    "superintendent, who" for "superintendent and the officer, who".
      Subsec. (b). Pub. L. 100-274, Sec. 2(c)(7), inserted heading and
    amended subsec. (b) generally. Prior to amendment, subsec. (b) read
    as follows: "At least once a year, the Secretary shall settle the
    accounts of the superintendents and the officer in charge. At
    settlement, each superintendent and the officer shall return to the
    Secretary coins, clippings, and other bullion in their possession
    with a statement of bullion received and returned since the last
    settlement (including bullion returned for settlement). The
    Secretary shall -
        "(1) audit the accounts and statements of each superintendent
      and the officer;
        "(2) allow each superintendent the waste of precious metals,
      within limitations prescribed by the Secretary, that the
      Secretary decides is necessary for refining and minting; and
        "(3) allow the officer the waste, within the limitations
      prescribed for refining, that the Secretary decides is necessary
      in casting fine gold and silver bars, except that the waste
      allowance may not apply to deposit operations."
      Subsec. (c). Pub. L. 100-274, Sec. 2(c)(9), struck out "and assay
    offices" after "total liabilities of the mints".
      Subsec. (d). Pub. L. 100-418 substituted "National Institute of
    Standards and Technology" for "National Bureau of Standards".
      Pub. L. 100-274, Sec. 2(c)(10), struck out "and assay office"
    after "procure for each mint" and "and assay offices" after
    "transactions at the mints".
-End-
-CITE-
    31 USC Sec. 5134                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER III - UNITED STATES MINT
-HEAD-
    Sec. 5134. Numismatic Public Enterprise Fund
-STATUTE-
      (a) Definitions. - For purposes of this section -
        (1) Fund. - The term "Fund" means the Numismatic Public
      Enterprise Fund.
        (2) Mint. - The term "Mint" means the United States Mint.
        (3) Numismatic item. - The term "numismatic item" means any
      medal, proof coin, uncirculated coin, bullion coin, or other coin
      specifically designated by statute as a numismatic item,
      including products and accessories related to any such medal,
      coin, or item.
        (4) Numismatic operations and programs. - The term "numismatic
      operations and programs" -
          (A) means the activities concerning, and assets utilized in,
        the production, administration, sale, and management of
        numismatic items and the Numismatic Public Enterprise Fund; and
          (B) includes capital, personnel salaries, functions relating
        to operations, marketing, distribution, promotion, advertising,
        and official reception and representation, the acquisition or
        replacement of equipment, and the renovation or modernization
        of facilities (other than the construction or acquisition of
        new buildings).
        (5) Secretary. - The term "Secretary" means the Secretary of
      the Treasury.
      (b) Establishment of Fund. - There is hereby established in the
    Treasury of the United States a revolving Numismatic Public
    Enterprise Fund consisting of amounts deposited in the fund (!1)
    under subsection (c)(2) of this section or section 221(b) of the
    United States Mint Reauthorization and Reform Act of 1992 which
    shall be available to the Secretary for numismatic operations and
    programs of the United States Mint without fiscal year limitation.
      (c) Operations of the Fund. -
        (1) Payment of expenses. - Any expense incurred by the
      Secretary for numismatic operations and programs which the
      Secretary determines, in the Secretary's sole discretion, to be
      ordinary and reasonable incidents of the numismatic business
      shall be paid out of the Fund, including any expense incurred
      pursuant to any obligation or other commitment of Mint numismatic
      operations and programs which was entered into before the
      beginning of fiscal year 1993.
        (2) Deposit of receipts. - All receipts from numismatic
      operations and programs shall be deposited into the Fund,
      including amounts attributable to any surcharge imposed with
      respect to the sale of any numismatic item.
        (3) Transfer of seigniorage. - The Secretary shall transfer
      monthly from the Fund to the general fund of the Treasury an
      amount equal to the total amount on the seigniorage of numismatic
      items sold since the date of any preceding transfer.
        (4) Transfer of excess amounts to the treasury. -
          (A) In general. - At such times as the Secretary determines
        to be appropriate, the Secretary shall transfer any amount in
        the Fund which the Secretary determines to be in excess of the
        amount required by the Fund to the Treasury for deposit as
        miscellaneous receipts.
          (B) Report to congress. - The Secretary shall submit an
        annual report to the Congress containing -
            (i) a statement of the total amount transferred to the
          Treasury pursuant to subparagraph (A) during the period
          covered by the report;
            (ii) a statement of the amount by which the amount on
          deposit in the Fund at the end of the period covered by the
          report exceeds the estimated operating costs of the Fund for
          the 1-year period beginning at the end of such period; and
            (iii) an explanation of the specific purposes for which
          such excess amounts are being retained in the Fund.
      (d) Budget Treatment. -
        (1) In general. - The Secretary shall prepare budgets for the
      Fund, and estimates and statements of financial condition of the
      Fund in accordance with the requirements of section 9103 which
      shall be submitted to the President for inclusion in the budget
      submitted under section 1105.
        (2) Inclusion in annual report. - Statements of the financial
      condition of the Fund shall be included in the Secretary's annual
      report on the operation of the Mint.
        (3) Treatment as wholly owned government corporation for
      certain purposes. - Section 9104 shall apply to the Fund to the
      same extent such section applies to wholly owned Government
      corporations.
      (e) Financial Statements, Audits, and Reports. -
        (1) Annual financial statement required. - By the end of each
      calendar year, the Secretary shall prepare an annual financial
      statement of the Fund for the fiscal year which ends during such
      calendar year.
        (2) Contents of financial statement. - Each statement prepared
      pursuant to paragraph (1) shall, at a minimum, contain -
          (A) the overall financial position (including assets and
        liabilities) of the Fund as of the end of the fiscal year;
          (B) the results of the numismatic operations and programs of
        the Fund during the fiscal year;
          (C) the cash flows or the changes in financial position of
        the Fund;
          (D) a reconciliation of the financial statement to the budget
        reports of the Fund; and
          (E) a supplemental schedule detailing -
            (i) the costs and expenses for the production, for the
          marketing, and for the distribution of each denomination of
          circulating coins produced by the Mint during the fiscal year
          and the per-unit cost of producing, of marketing, and of
          distributing each denomination of such coins; and
            (ii) the gross revenue derived from the sales of each such
          denomination of coins.
        (3) Annual audits. -
          (A) In general. - Each annual financial statement prepared
        under paragraph (1) shall be audited -
            (i) by -
              (I) an independent external auditor; or
              (II) the Inspector General of the Department of the
            Treasury,
          as designated by the Secretary; and
            (ii) in accordance with the generally accepted Government
          auditing standards issued by the Comptroller General of the
          United States.
          (B) Auditor's report required. - The auditor designated to
        audit any financial statement of the Fund pursuant to
        subparagraph (A) shall submit a report -
            (i) to the Secretary by March 31 of the year beginning
          after the end of the fiscal year covered by such financial
          statement; and
            (ii) containing the auditor's opinion on -
              (I) the financial statement of the Fund;
              (II) the internal accounting and administrative controls
            and accounting systems of the Fund; and
              (III) the Fund's compliance with applicable laws and
            regulations.
        (4) Annual report on fund. -
          (A) Report required. - By April 30 of each year, the
        Secretary shall submit a report on the Fund for the most
        recently completed fiscal year to the President, the Congress,
        and the Director of the Office of Management and Budget.
          (B) Contents of annual report. - The annual report required
        under subparagraph (A) for any fiscal year shall include -
            (i) the financial statement prepared under paragraph (1)
          for such fiscal year;
            (ii) the audit report submitted to the Secretary pursuant
          to paragraph (3)(B) for such fiscal year;
            (iii) a description of activities carried out during such
          fiscal year;
            (iv) a summary of information relating to numismatic
          operations and programs contained in the reports on systems
          on internal accounting and administrative controls and
          accounting systems submitted to the President and the
          Congress under section 3512(c);
            (v) a summary of the corrective actions taken with respect
          to material weaknesses relating to numismatic operations and
          programs identified in the reports prepared under section
          3512(c);
            (vi) any other information the Secretary considers
          appropriate to fully inform the Congress concerning the
          financial management of the Fund; and
            (vii) a statement of the total amount of excess funds
          transferred to the Treasury.
        (5) Marketing report. -
          (A) Report required for 10 years. - For each fiscal year
        beginning before fiscal year 2003, the Secretary shall submit
        an annual report on all marketing activities and expenses of
        the Fund to the Congress before the end of the 3-month period
        beginning at the end of such fiscal year.
          (B) Contents of report. - The report submitted pursuant to
        subparagraph (A) shall contain a detailed description of -
            (i) the sources of income including surcharges; and
            (ii) expenses incurred for manufacturing, materials,
          overhead, packaging, marketing, and shipping.
      (f) Conditions on Payment of Surcharges to Recipient
    Organizations. -
        (1) Payment of surcharges. -
          (A) In general. - Notwithstanding any other provision of law,
        no amount derived from the proceeds of any surcharge imposed on
        the sale of any numismatic item shall be paid from the fund
        (!1) to any designated recipient organization unless -
            (i) all numismatic operation and program costs allocable to
          the program under which such numismatic item is produced and
          sold have been recovered; and
            (ii) the designated recipient organization submits an
          audited financial statement that demonstrates, to the
          satisfaction of the Secretary, that, with respect to all
          projects or purposes for which the proceeds of such surcharge
          may be used, the organization has raised funds from private
          sources for such projects and purposes in an amount that is
          equal to or greater than the total amount of the proceeds of
          such surcharge derived from the sale of such numismatic item.
          (B) Unpaid amounts. - If any amount derived from the proceeds
        of any surcharge imposed on the sale of any numismatic item
        that may otherwise be paid from the fund,(!1) under any
        provision of law relating to such numismatic item, to any
        designated recipient organization remains unpaid to such
        organization solely by reason of the matching fund requirement
        contained in subparagraph (A)(ii) after the end of the 2-year
        period beginning on the later of -
            (i) the last day any such numismatic item is issued by the
          Secretary; or
            (ii) the date of the enactment of the American 5-Cent Coin
          Design Continuity Act of 2003,
        such unpaid amount shall be deposited in the Treasury as
        miscellaneous receipts.
        (2) Annual audits. -
          (A) Annual audits of recipients required. - Each designated
        recipient organization that receives any payment from the fund
        (!1) of any amount derived from the proceeds of any surcharge
        imposed on the sale of any numismatic item shall provide, as a
        condition for receiving any such amount, for an annual audit,
        in accordance with generally accepted government auditing
        standards by an independent public accountant selected by the
        organization, of all such payments to the organization
        beginning in the first fiscal year of the organization in which
        any such amount is received and continuing until all amounts
        received by such organization from the fund (!1) with respect
        to such surcharges are fully expended or placed in trust.
          (B) Minimum requirements for annual audits. - At a minimum,
        each audit of a designated recipient organization pursuant to
        subparagraph (A) shall report -
            (i) the amount of payments received by the designated
          recipient organization from the fund (!1) during the fiscal
          year of the organization for which the audit is conducted
          that are derived from the proceeds of any surcharge imposed
          on the sale of any numismatic item;
            (ii) the amount expended by the designated recipient
          organization from the proceeds of such surcharges during the
          fiscal year of the organization for which the audit is
          conducted; and
            (iii) whether all expenditures by the designated recipient
          organization during the fiscal year of the organization for
          which the audit is conducted from the proceeds of such
          surcharges were for authorized purposes.
          (C) Responsibility of organization to account for
        expenditures of surcharges. - Each designated recipient
        organization that receives any payment from the fund (!1) of
        any amount derived from the proceeds of any surcharge imposed
        on the sale of any numismatic item shall take appropriate
        steps, as a condition for receiving any such payment, to ensure
        that the receipt of the payment and the expenditure of the
        proceeds of such surcharge by the organization in each fiscal
        year of the organization can be accounted for separately from
        all other revenues and expenditures of the organization.
          (D) Submission of audit report. - Not later than 90 days
        after the end of any fiscal year of a designated recipient
        organization for which an audit is required under subparagraph
        (A), the organization shall -
            (i) submit a copy of the report to the Secretary of the
          Treasury; and
            (ii) make a copy of the report available to the public.
          (E) Use of surcharges for audits. - Any designated recipient
        organization that receives any payment from the fund (!1) of
        any amount derived from the proceeds of any surcharge imposed
        on the sale of any numismatic item may use the amount received
        to pay the cost of an audit required under subparagraph (A).
          (F) Waiver of paragraph. - The Secretary of the Treasury may
        waive the application of any subparagraph of this paragraph to
        any designated recipient organization for any fiscal year after
        taking into account the amount of surcharges that such
        organization received or expended during such year.
          (G) Nonapplicability to federal entities. - This paragraph
        shall not apply to any Federal agency or department or any
        independent establishment in the executive branch that receives
        any payment from the fund (!1) of any amount derived from the
        proceeds of any surcharge imposed on the sale of any numismatic
        item.
          (H) Availability of books and records. - An organization that
        receives any payment from the fund (!1) of any amount derived
        from the proceeds of any surcharge imposed on the sale of any
        numismatic item shall provide, as a condition for receiving any
        such payment, to the Inspector General of the Department of the
        Treasury or the Comptroller General of the United States, upon
        the request of such Inspector General or the Comptroller
        General, all books, records, and work papers belonging to or
        used by the organization, or by any independent public
        accountant who audited the organization in accordance with
        subparagraph (A), which may relate to the receipt or
        expenditure of any such amount by the organization.
        (3) Use of agents or attorneys to influence commemorative coin
      legislation. - No portion of any payment from the fund (!1) to
      any designated recipient organization of any amount derived from
      the proceeds of any surcharge imposed on the sale of any
      numismatic item may be used, directly or indirectly, by the
      organization to compensate any agent or attorney for services
      rendered to support or influence in any way legislative action of
      the Congress relating to such numismatic item.
        (4) Designated recipient organization defined. - For purposes
      of this subsection, the term "designated recipient organization"
      means any organization designated, under any provision of law, as
      the recipient of any surcharge imposed on the sale of any
      numismatic item.
      (g) Quarterly Financial Reports. -
        (1) In general. - Not later than the 30th day of each month
      following each calendar quarter through and including the final
      period of sales with respect to any commemorative coin program
      authorized on or after the date of enactment of the Treasury,
      Postal Service, and General Government Appropriations Act, 1997,
      the Mint shall submit to the Congress a quarterly financial
      report in accordance with this subsection.
        (2) Requirements. - Each report submitted under paragraph (1)
      shall include, with respect to the calendar quarter at issue -
          (A) a detailed financial statement, prepared in accordance
        with generally accepted accounting principles, that includes
        financial information specific to that quarter, as well as
        cumulative financial information relating to the entire
        program;
          (B) a detailed accounting of -
            (i) all costs relating to marketing efforts;
            (ii) all funds projected for marketing use;
            (iii) all costs for employee travel relating to the
          promotion of commemorative coin programs;
            (iv) all numismatic items minted, sold, not sold, and
          rejected during the production process; and
            (v) the costs of melting down all rejected and unsold
          products;
          (C) adequate market-based research for all commemorative coin
        programs; and
          (D) a description of the efforts of the Mint in keeping the
        sale price of numismatic items as low as practicable.
-SOURCE-
    (Added Pub. L. 102-390, title II, Sec. 221(a), Oct. 6, 1992, 106
    Stat. 1624; amended Pub. L. 104-208, div. A, title I, Sec. 101(f)
    [title V, Sec. 529(b)(1), (2), (c)], Sept. 30, 1996, 110 Stat. 3009-
    314, 3009-349, 3009-350, 3009-352; Pub. L. 106-445, Sec. 3, Nov.
    6, 2000, 114 Stat. 1931; Pub. L. 108-15, title I, Sec. 103(d)(2),
    title II, Sec. 201(a), Apr. 23, 2003, 117 Stat. 619.)
-REFTEXT-
                            REFERENCES IN TEXT
      Section 221(b) of the United States Mint Reauthorization and
    Reform Act of 1992, referred to in subsec. (b), is section 221(b)
    of Pub. L. 102-390, which is set out below.
      The date of the enactment of the American 5-Cent Coin Design
    Continuity Act of 2003, referred to in subsec. (f)(1)(B)(ii), is
    the date of enactment of Pub. L. 108-15, which was approved Apr.
    23, 2003.
      The date of enactment of the Treasury, Postal Service, and
    General Government Appropriations Act, 1997, referred to in subsec.
    (g)(1), is the date of enactment of section 101(f) of title I of
    div. A of Pub. L. 104-208, which was approved Sept. 30, 1996.
-MISC1-
                                AMENDMENTS
      2003 - Subsec. (c)(4), (5). Pub. L. 108-15, Sec. 103(d)(2),
    redesignated par. (5) as (4) and struck out heading and text of
    former par. (4). Text read as follows: "For purposes of paragraph
    (1), any expense incurred by the Secretary in connection with the
    Citizens Commemorative Coin Advisory Committee established under
    section 5135 shall be treated as an expense incurred for numismatic
    operations and programs which is an ordinary and reasonable
    incident of the numismatic business."
      Subsec. (f)(1). Pub. L. 108-15, Sec. 201(a), amended heading and
    text of par. (1) generally. Prior to amendment, text read as
    follows: "Notwithstanding any other provision of law, no amount
    derived from the proceeds of any surcharge imposed on the sale of
    any numismatic item shall be paid from the fund to any designated
    recipient organization unless -
        "(A) all numismatic operation and program costs allocable to
      the program under which such numismatic item is produced and sold
      have been recovered; and
        "(B) the designated recipient organization submits an audited
      financial statement that demonstrates to the satisfaction of the
      Secretary of the Treasury that, with respect to all projects or
      purposes for which the proceeds of such surcharge may be used,
      the organization has raised funds from private sources for such
      projects and purposes in an amount that is equal to or greater
      than the maximum amount the organization may receive from the
      proceeds of such surcharge."
      2000 - Subsec. (e)(2). Pub. L. 106-445, Sec. 3(1), substituted
    "contain" for "reflect" in introductory provisions.
      Subsec. (e)(2)(E). Pub. L. 106-445, Sec. 3(2)-(4), added subpar.
    (E).
      1996 - Subsec. (c)(2). Pub. L. 104-208, Sec. 101(f) [title V,
    Sec. 529(b)(1)], inserted ", including amounts attributable to any
    surcharge imposed with respect to the sale of any numismatic item"
    before period at end.
      Subsec. (f). Pub. L. 104-208, Sec. 101(f) [title V, Sec.
    529(b)(2)], added subsec. (f).
      Subsec. (g). Pub. L. 104-208, Sec. 101(f) [title V, Sec. 529(c)],
    added subsec. (g).
                     EFFECTIVE DATE OF 2003 AMENDMENT
      Pub. L. 108-15, title II, Sec. 201(b), Apr. 23, 2003, 117 Stat.
    620, provided that: "The amendment made by subsection (a) [amending
    this section] shall apply as of the date of the enactment of Public
    Law 104-208 [Sept. 30, 1996]."
                     EFFECTIVE DATE OF 1996 AMENDMENT
      Section 101(f) [title V, Sec. 529(b)(3)] of Pub. L. 104-208
    provided that: "The amendments made by this section [probably
    should be this subsection, amending this section] shall apply with
    respect to the proceeds of any surcharge imposed on the sale of any
    numismatic item that are deposited in the Numismatic Public
    Enterprise Fund after the date of the enactment of this Act [Sept.
    30, 1996]."
                              EFFECTIVE DATE
      Section applicable with respect to fiscal years beginning after
    fiscal year 1992, see section 221(e) of Pub. L. 102-390, set out as
    an Effective Date of 1992 Amendment note under section 5132 of this
    title.
             TERMINATION OF NUMISMATIC PUBLIC ENTERPRISE FUND
      All assets and liabilities of Numismatic Public Enterprise Fund
    transferred to United States Mint Public Enterprise Fund and
    Numismatic Public Enterprise Fund to cease to exist as separate
    fund as its activities and functions are subsumed under and subject
    to United States Mint Public Enterprise Fund, see section 5136 of
    this title.
        INITIAL FUNDING OF FUND FROM EXISTING NUMISMATIC OPERATIONS
      Section 221(b) of Pub. L. 102-390 provided that:
      "(1) In general. - As soon as practicable after the end of fiscal
    year 1992, the Secretary of the Treasury shall transfer to the Fund
    -
        "(A) from the Mint's numismatic profits for such fiscal year,
      an amount which the Secretary determines to be necessary -
          "(i) to meet existing numismatic liabilities and obligations;
        and
          "(ii) to provide working capital for Mint numismatic
        operations and programs; and
        "(B) all numismatic receivables, and the numismatic operations
      and programs (including liabilities and other obligations) of the
      United States Mint, and the land and buildings of the San
      Francisco Mint, the Old San Francisco Mint, and the West Point
      Mint, capitalized at current book value as carried in the Mint
      combined statement of financial condition.
      "(2) Excess amounts to be deposited in the general fund. - That
    portion of the total amount of numismatic profits for fiscal year
    1992 which remains after the transfer to the Fund pursuant to
    paragraph (1)(A) is made shall be deposited by the Secretary in the
    general fund of the Treasury as soon as practicable after the end
    of the fiscal year.
      "(3) Definitions. - For purposes of paragraphs (1) and (2) -
        "(A) Numismatic profit. - The term 'numismatic profit' means
      the amount which is equal to the proceeds (including seigniorage)
      from the sale of numismatic items minus the costs of numismatic
      operations and programs.
        "(B) Numismatic receivable. - The term 'numismatic receivable'
      means any account receivable from numismatic operations and
      programs, including chargebacks, returned checks, amounts due
      from special order sales, and amounts due from consignment sales.
        "(C) Other terms. - The terms 'Fund' and 'numismatic item' have
      the meaning given to such terms in the amendment made by
      subsection (a) [enacting this section]."
-FOOTNOTE-
    (!1) So in original. Probably should be capitalized.
-End-
-CITE-
    31 USC Sec. 5135                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER III - UNITED STATES MINT
-HEAD-
    Sec. 5135. Citizens Coinage Advisory Committee
-STATUTE-
      (a) Establishment. -
        (1) In general. - There is hereby established the Citizens
      Coinage Advisory Committee (in this section referred to as the
      "Advisory Committee") to advise the Secretary of the Treasury on
      the selection of themes and designs for coins.
        (2) Oversight of advisory committee. - The Advisory Committee
      shall be subject to the authority of the Secretary of the
      Treasury (hereafter in this section referred to as the
      "Secretary").
      (b) Membership. -
        (1) Appointment. - The Advisory Committee shall consist of 11
      members appointed by the Secretary as follows:
          (A) Seven persons appointed by the Secretary -
            (i) one of whom shall be appointed from among individuals
          who are specially qualified to serve on the Advisory
          Committee by virtue of their education, training, or
          experience as a nationally or internationally recognized
          curator in the United States of a numismatic collection;
            (ii) one of whom shall be appointed from among individuals
          who are specially qualified to serve on the Advisory
          Committee by virtue of their experience in the medallic arts
          or sculpture;
            (iii) one of whom shall be appointed from among individuals
          who are specially qualified to serve on the Advisory
          Committee by virtue of their education, training, or
          experience in American history;
            (iv) one of whom shall be appointed from among individuals
          who are specially qualified to serve on the Advisory
          Committee by virtue of their education, training, or
          experience in numismatics; and
            (v) three of whom shall be appointed from among individuals
          who can represent the interests of the general public in the
          coinage of the United States.
          (B) Four persons appointed by the Secretary on the basis of
        the recommendations of the following officials who shall make
        the selection for such recommendation from among citizens who
        are specially qualified to serve on the Advisory Committee by
        virtue of their education, training, or experience:
            (i) One person recommended by the Speaker of the House of
          Representatives.
            (ii) One person recommended by the minority leader of the
          House of Representatives.
            (iii) One person recommended by the majority leader of the
          Senate.
            (iv) One person recommended by the minority leader of the
          Senate.
        (2) Terms. -
          (A) In general. - Except as provided in subparagraph (B),
        members of the Advisory Committee shall be appointed for a term
        of 4 years.
          (B) Terms of initial appointees. - As designated by the
        Secretary at the time of appointment, of the members first
        appointed -
            (i) four of the members appointed under paragraph (1)(A)
          shall be appointed for a term of 4 years;
            (ii) the four members appointed under paragraph (1)(B)
          shall be appointed for a term of 3 years; and
            (iii) three of the members appointed under paragraph (1)(A)
          shall be appointed for a term of 2 years.
        (3) Preservation of public advisory status. - No individual may
      be appointed to the Advisory Committee while serving as an
      officer or employee of the Federal Government.
        (4) Continuation of service. - Each appointed member may
      continue to serve for up to 6 months after the expiration of the
      term of office to which such member was appointed until a
      successor has been appointed.
        (5) Vacancy and removal. -
          (A) In general. - Any vacancy on the Advisory Committee shall
        be filled in the manner in which the original appointment was
        made.
          (B) Removal. - Advisory Committee members shall serve at the
        discretion of the Secretary and may be removed at any time for
        good cause.
        (6) Chairperson. - The Chairperson of the Advisory Committee
      shall be appointed for a term of 1 year by the Secretary from
      among the members of the Advisory Committee.
        (7) Pay and expenses. - Members of the Advisory Committee shall
      serve without pay for such service but each member of the
      Advisory Committee shall be reimbursed from the United States
      Mint Public Enterprise Fund for travel, lodging, meals, and
      incidental expenses incurred in connection with attendance of
      such members at meetings of the Advisory Committee in the same
      amounts and under the same conditions as employees of the United
      States Mint who engage in official travel, as determined by the
      Secretary.
        (8) Meetings. -
          (A) In general. - The Advisory Committee shall meet at the
        call of the Secretary, the chairperson, or a majority of the
        members, but not less frequently than twice annually.
          (B) Open meetings. - Each meeting of the Advisory Committee
        shall be open to the public.
          (C) Prior notice of meetings. - Timely notice of each meeting
        of the Advisory Committee shall be published in the Federal
        Register, and timely notice of each meeting shall be made to
        trade publications and publications of general circulation.
        (9) Quorum. - Seven members of the Advisory Committee shall
      constitute a quorum.
      (c) Duties of the Advisory Committee. - The duties of the
    Advisory Committee are as follows:
        (1) Advising the Secretary of the Treasury on any theme or
      design proposals relating to circulating coinage, bullion
      coinage, congressional gold medals and national and other medals
      produced by the Secretary of the Treasury in accordance with
      section 5111 of title 31, United States Code.
        (2) Advising the Secretary of the Treasury with regard to -
          (A) the events, persons, or places that the Advisory
        Committee recommends be commemorated by the issuance of
        commemorative coins in each of the 5 calendar years succeeding
        the year in which a commemorative coin designation is made;
          (B) the mintage level for any commemorative coin recommended
        under subparagraph (A); and
          (C) the proposed designs for commemorative coins.
      (d) Expenses. - The expenses of the Advisory Committee that the
    Secretary of the Treasury determines to be reasonable and
    appropriate shall be paid by the Secretary from the United States
    Mint Public Enterprise Fund.
      (e) Administrative Support, Technical Services, and Advice. -
    Upon the request of the Advisory Committee, or as necessary for the
    Advisory Committee to carry out the responsibilities of the
    Advisory Committee under this section, the Director of the United
    States Mint shall provide to the Advisory Committee the
    administrative support, technical services, and advice that the
    Secretary of the Treasury determines to be reasonable and
    appropriate.
      (f) Consultation Authority. - In carrying out the duties of the
    Advisory Committee under this section, the Advisory Committee may
    consult with the Commission of Fine Arts.
      (g) Annual Report. -
        (1) Required. - Not later than September 30 of each year, the
      Advisory Committee shall submit a report to the Secretary, the
      Committee on Financial Services of the House of Representatives
      and the Committee on Banking, Housing, and Urban Affairs of the
      Senate. Should circumstances arise in which the Advisory
      Committee cannot meet the September 30 deadline in any year, the
      Secretary shall advise the Chairpersons of the Committee on
      Financial Services of the House of Representatives and the
      Committee on Banking, Housing, and Urban Affairs of the Senate of
      the reasons for such delay and the date on which the submission
      of the report is anticipated.
        (2) Contents. - The report required by paragraph (1) shall
      describe the activities of the Advisory Committee during the
      preceding year and the reports and recommendations made by the
      Advisory Committee to the Secretary of the Treasury.
      (h) Federal Advisory Committee Act Does Not Apply. - Subject to
    the requirements of subsection (b)(8), the Federal Advisory
    Committee Act shall not apply with respect to the Committee.
-SOURCE-
    (Added Pub. L. 102-390, title II, Sec. 229(a), Oct. 6, 1992, 106
    Stat. 1631; amended Pub. L. 104-208, div. A, title I, Sec. 101(f)
    [title V, Sec. 529(d)], Sept. 30, 1996, 110 Stat. 3009-314, 3009-
    352; Pub. L. 104-329, title III, Sec. 303(a), Oct. 20, 1996, 110
    Stat. 4014; Pub. L. 108-15, title I, Sec. 103(a), Apr. 23, 2003,
    117 Stat. 616.)
-REFTEXT-
                            REFERENCES IN TEXT
      The Federal Advisory Committee Act, referred to in subsec. (h),
    is Pub. L. 92-463, Oct. 6, 1972, 86 Stat. 770, as amended, which is
    set out in the Appendix to Title 5, Government Organization and
    Employees.
-MISC1-
                                AMENDMENTS
      2003 - Pub. L. 108-15 amended section catchline and text
    generally. Prior to amendment, text provided for the establishment
    of the Citizens Commemorative Coin Advisory Committee and contained
    provisions concerning its oversight, membership, duties, and
    funding, the term of each membership, and the compensation of each
    member.
      1996 - Subsec. (a)(4). Pub. L. 104-329 reenacted heading without
    change and amended text generally. Prior to amendment, text read as
    follows: "Each member appointed under clause (i) or (iii) of
    paragraph (3)(A) shall be appointed for a term of 4 years."
      Pub. L. 104-208, Sec. 101(f) [title V, Sec. 529(d)(1)], reenacted
    heading without change and amended text generally. Prior to
    amendment, text read as follows: "No individual shall be appointed
    to serve as a member of the Advisory Committee for a term in excess
    of 5 years."
      Subsec. (a)(7). Pub. L. 104-208, Sec. 101(f) [title V, Sec.
    529(d)(2)], added par. (7).
      ABOLISHMENT OF CITIZENS COMMEMORATIVE COIN ADVISORY COMMITTEE;
                           CONTINUITY OF MEMBERS
      Pub. L. 108-15, title I, Sec. 103(b), (c), Apr. 23, 2003, 117
    Stat. 618, 619, provided that:
      "(b) Abolishment of Citizens Commemorative Coin Advisory
    Committee. - Effective on the date of the enactment of this Act
    [Apr. 23, 2003], the Citizens Commemorative Coin Advisory Committee
    (established by section 5135 of title 31, United States Code, as in
    effect before the amendment made by subsection (a)) is hereby
    abolished.
      "(c) Continuity of Members of Citizens Commemorative Coin
    Advisory Committee. - Subject to paragraphs (1) and (2) of section
    5135(b) of title 31, United States Code, any person who is a member
    of the Citizens Commemorative Coin Advisory Committee on the date
    of the enactment of this Act [Apr. 23, 2003], other than the member
    of such committee who is appointed from among the officers or
    employees of the United States Mint, may continue to serve the
    remainder of the term to which such member was appointed as a
    member of the Citizens Coinage Advisory Committee in one of the
    positions as determined by the Secretary."
    STAGGERED TERMS FOR MEMBERS OF CITIZENS COMMEMORATIVE COIN ADVISORY
                                 COMMITTEE
      Pub. L. 104-329, title III, Sec. 303(b), Oct. 20, 1996, 110 Stat.
    4014, provided that members serving on the Citizens Commemorative
    Coin Advisory Committee as of Oct. 20, 1996, would be deemed to
    have been appointed to terms which ended on Dec. 31, 1997, 1998, or
    1999.
    STATUS OF MEMBERS OF CITIZENS COMMEMORATIVE COIN ADVISORY COMMITTEE
      Pub. L. 104-329, title III, Sec. 303(c), Oct. 20, 1996, 110 Stat.
    4015, provided that members appointed to the Citizens Commemorative
    Coin Advisory Committee under clause (i) or (iii) of subsec.
    (a)(3)(A) of this section would not be treated as special
    Government employees.
-End-
-CITE-
    31 USC Sec. 5136                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER III - UNITED STATES MINT
-HEAD-
    Sec. 5136. United States Mint Public Enterprise Fund
-STATUTE-
      There shall be established in the Treasury of the United States,
    a United States Mint Public Enterprise Fund (the "Fund") for fiscal
    year 1996 and hereafter: Provided, That all receipts from Mint
    operations and programs, including the production and sale of
    numismatic items, the production and sale of circulating coinage,
    the protection of Government assets, and gifts and bequests of
    property, real or personal shall be deposited into the Fund and
    shall be available without fiscal year limitations: Provided
    further, That all expenses incurred by the Secretary of the
    Treasury for operations and programs of the United States Mint that
    the Secretary of the Treasury determines, in the Secretary's sole
    discretion, to be ordinary and reasonable incidents of Mint
    operations and programs, and any expense incurred pursuant to any
    obligation or other commitment of Mint operations and programs that
    was entered into before the establishment of the Fund, shall be
    paid out of the Fund: Provided further, That not to exceed 6.2415
    percent of the nominal value of the coins minted, shall be paid out
    of the Fund for the circulating coin operations and programs in
    fiscal year 1996 for those operations and programs previously
    provided for by appropriation: Provided further, That the Secretary
    of the Treasury may borrow such funds from the General Fund as may
    be necessary to meet existing liabilities and obligations incurred
    prior to the receipt of revenues into the Fund: Provided further,
    That the General Fund shall be reimbursed for such funds by the
    Fund within one year of the date of the loan: Provided further,
    That the Fund may retain receipts from the Federal Reserve System
    from the sale of circulating coins at face value for deposit into
    the Fund (retention of receipts is for the circulating operations
    and programs): Provided further, That the Secretary of the Treasury
    shall transfer to the Fund all assets and liabilities of the Mint
    operations and programs, including all Numismatic Public Enterprise
    Fund assets and liabilities, all receivables, unpaid obligations
    and unobligated balances from the Mint's appropriation, the Coinage
    Profit Fund, and the Coinage Metal Fund, and the land and buildings
    of the Philadelphia Mint, Denver Mint, and the Fort Knox Bullion
    Depository: Provided further, That the Numismatic Public Enterprise
    Fund, the Coinage Profit Fund and the Coinage Metal Fund shall
    cease to exist as separate funds as their activites (!1) and
    functions are subsumed under and subject to the Fund, and the
    requirements of 31 USC 5134(c)(4), (c)(5)(B), and (d) and (e) (!2)
    of the Numismatic Public Enterprise Fund shall apply to the Fund:
    Provided further, That at such times as the Secretary of the
    Treasury determines appropriate, but not less than annually, any
    amount in the Fund that is determined to be in excess of the amount
    required by the Fund shall be transferred to the Treasury for
    deposit as miscellaneous receipts: Provided further, That the term
    "Mint operations and programs" means (1) the activities concerning,
    and assets utilized in, the production, administration,
    distribution, marketing, purchase, sale, and management of coinage,
    numismatic items, the protection and safeguarding of Mint assets
    and those non-Mint assets in the custody of the Mint, and the Fund;
    and (2) includes capital, personnel salaries and compensation,
    functions relating to operations, marketing, distribution,
    promotion, advertising, official reception and representation, the
    acquisition or replacement of equipment, the renovation or
    modernization of facilities, and the construction or acquisition of
    new buildings: Provided further, That the term "numismatic item"
    includes any medal, proof coin, uncirculated coin, bullion coin,
    numismatic collectible, other monetary issuances and products and
    accessories related to any such medal or coin: Provided further,
    That provisions of law governing procurement or public contracts
    shall not be applicable to the procurement of goods or services
    necessary for carrying out Mint programs and operations.
-SOURCE-
    (Added Pub. L. 104-52, title V, Sec. 522, Nov. 19, 1995, 109 Stat.
    494.)
-REFTEXT-
                            REFERENCES IN TEXT
      Section 5134(c) of this title, referred to in text, was amended
    by Pub. L. 108-15, title I, Sec. 103(d)(2), Apr. 23, 2003, 117
    Stat. 619, which struck out par. (4) and redesignated par. (5) as
    (4).
-COD-
                               CODIFICATION
      Section 522 of Pub. L. 104-52, which directed the amendment of
    subchapter III of chapter 51 of this title by adding at the end
    thereof a new section, but had the ending quotation marks following
    the section catchline, was executed by adding this section as set
    out above, to reflect the probable intent of Congress.
-FOOTNOTE-
    (!1) So in original. Probably should be "activities".
    (!2) See References in Text note below.
-End-
-CITE-
    31 USC SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING     01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING
-HEAD-
             SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING
-End-
-CITE-
    31 USC Sec. 5141                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING
-HEAD-
    Sec. 5141. Operation of the Bureau
-STATUTE-
      (a) The Secretary of the Treasury shall prepare and submit to the
    President an annual business-type budget for the Bureau of
    Engraving and Printing.
      (b)(1) The Secretary shall maintain in the Bureau an integrated
    accounting system with internal controls that -
        (A) ensures adequate control over assets and liabilities of the
      Bureau of Engraving and Printing Fund described in section 5142
      of this title;
        (B) develops accurate production costs to enable the Bureau to
      recover those costs on the basis of the work requisitioned;
        (C) provides for replacement of capitalized equipment and other
      fixed assets by maintaining adequate depreciation reserves based
      on original cost or appraised values;
        (D) discloses the financial condition and operations of the
      Fund on an accrual basis of accounting; and
        (E) provides information for the prior fiscal year on the
      annual budget of the Bureau.
      (2) The accounting system shall conform to principles and
    standards prescribed by the Comptroller General to carry out this
    subsection. The Comptroller General may review the system to ensure
    conformity to the principles and standards and its effectiveness of
    operation.
      (c) An officer or employee in the clerical-mechanical service of
    the Bureau assigned to an established shift or tour of duty at
    least half of which occurs between 6 p.m. and 6 a.m. is entitled to
    pay for the regular 40-hour week (except when on leave) at a rate
    of pay 15 percent higher than the day rate for the same work.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 990.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5141(a)      31:181b.                Aug. 4, 1950, ch. 558, Secs.
                                          4, 5, 64 Stat. 409.
    5141(b)      31:181c.
    5141(c)      31:180.                 July 1, 1944, ch. 357, 58
                                          Stat. 648.
    --------------------------------------------------------------------
      In subsection (a), the word "budget" is substituted for "budget
    program" to eliminate unnecessary words. The words "to the
    President" are added because of chapter 11 of the revised title.
      In subsection (b)(1), before clause (A), the words "Secretary
    shall maintain" are substituted for "There shall be installed and
    maintained" because of sections 301 and 303 of the revised title
    and to eliminate executed words. The words "internal controls" are
    substituted for "including proper features of internal control" to
    eliminate unnecessary words. In clause (B), the word "costs" is
    substituted for "direct and indirect costs" to eliminate
    unnecessary words. In clause (D), the word "basis" is substituted
    for "method" for clarity. In clause (E), the words "provides
    information" are substituted for "supply on the basis of accounting
    results the data" to eliminate unnecessary words. The word "prior"
    is substituted for "last completed" for consistency in the revised
    title.
      In subsection (c), the words "An officer or employee" are
    substituted for "employees" for consistency in the revised title
    and with other titles of the United States Code. The words
    "assigned to an established shift or tour of duty at least half of
    which occurs between the hours of 6 p.m. and 6 a.m." are
    substituted for "assigned to perform their work at night" and
    31:180(proviso) to eliminate unnecessary words.
                   AUTHORITY OF SPECIAL POLICE OFFICERS
      Pub. L. 104-208, div. A, title I, Sec. 101(f) [title V, Sec.
    517], Sept. 30, 1996, 110 Stat. 3009-314, 3009-346, provided that:
    "Notwithstanding any other provision of law or regulation during
    the fiscal year ending September 30, 1997, and thereafter:
        "(1) The authority of the special police officers of the Bureau
      of Engraving and Printing, in the Washington, DC Metropolitan
      area, extends to buildings and land under the custody and control
      of the Bureau; to buildings and land acquired by or for the
      Bureau through lease, unless otherwise provided by the
      acquisition agency; to the streets, sidewalks and open areas
      immediately adjacent to the Bureau along Wallenberg Place (15th
      Street) and 14th Street between Independence and Maine Avenues
      and C and D Streets between 12th and 14th Streets; to areas which
      include surrounding parking facilities used by Bureau employees,
      including the lots at 12th and C Streets, SW, Maine Avenue and
      Water Streets, SW, Maiden Lane, the Tidal Basin and East Potomac
      Park; to the protection in transit of United States securities,
      plates and dies used in the production of United States
      securities, or other products or implements of the Bureau of
      Engraving and Printing which the Director of that agency so
      designates.
        "(2) The authority of the special police officers of the United
      States Mint extends to the buildings and land under the custody
      and control of the Mint; to the streets, sidewalks and open areas
      in the vicinity to such facilities; to surrounding parking
      facilities used by Mint employees; and to the protection in
      transit of bullion, coins, dies, and other property and assets
      of, or in the custody of, the Mint.
        "(3) The exercise of police authority by Bureau or Mint
      officers, with the exception of the exercise of authority upon
      property under the custody and control of the Bureau or the Mint,
      respectively, shall be deemed supplementary to the Federal police
      force with primary jurisdictional responsibility. This authority
      shall be in addition to any other law enforcement authority which
      has been provided to these officers under other provisions of law
      or regulations."
      Similar provisions were contained in the following prior
    appropriation acts:
      Pub. L. 104-52, title V, Sec. 520, Nov. 19, 1995, 109 Stat. 494.
      Pub. L. 103-329, title V, Sec. 535, Sept. 30, 1994, 108 Stat.
    2414.
-End-
-CITE-
    31 USC Sec. 5142                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING
-HEAD-
    Sec. 5142. Bureau of Engraving and Printing Fund
-STATUTE-
      (a) The Department of the Treasury has a Bureau of Engraving and
    Printing Fund. Amounts -
        (1) in the Fund are available to operate the Bureau of
      Engraving and Printing;
        (2) in the Fund remain available until expended; and
        (3) may be appropriated to the Fund.
      (b) The Fund consists of -
        (1) property and physical assets (except buildings and land)
      acquired by the Bureau;
        (2) all amounts received by the Bureau; and
        (3) proceeds from the disposition of property and assets
      acquired by the Fund.
      (c) The capital of the Fund consists of -
        (1) amounts appropriated to the Fund;
        (2) physical assets of the Bureau (except buildings and land)
      as of the close of business June 30, 1951; and
        (3) all payments made after June 30, 1974, under section 5143
      of this title at prices adjusted to permit buying capital
      equipment and to provide future working capital.
      (d) The Secretary shall deposit each fiscal year, in the Treasury
    as miscellaneous receipts, amounts accruing to the Fund in the
    prior fiscal year that the Secretary decides are in excess of the
    needs of the Fund. However, the Secretary may use the excess
    amounts to restore capital of the Fund reduced by the difference
    between the charges for services of the Bureau and the cost of
    providing those services.
      (e) The Secretary shall maintain a special deposit account in the
    Treasury for the Fund. The Secretary shall credit the account with
    amounts appropriated to the Fund and receipts of the Bureau without
    depositing the receipts in the Treasury as miscellaneous receipts.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 990.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5142(a)      31:181a(a)(1st          Aug. 4, 1950, ch. 558, Sec. 2,
                  sentence), (d).         64 Stat. 409.
    5142(b)      31:181a(c).
    5142(c)      31:181a(a)(last
                  sentence), (b).
                 31:181(note).           July 31, 1977, Pub. L. 95-81,
                                          Sec. 100(par. under heading
                                          "Bureau of Engraving and
                                          Printing"), 91 Stat. 342.
    5142(d)      31:181a(e).
    5142(e)      31:181a(f).
    --------------------------------------------------------------------
      In subsection (a), before clause (1), the words "as of July 1,
    1951" are omitted as executed. In clause (1), the words "subsequent
    to June 30, 1951" are omitted as executed. In clause (2), the words
    "remain available until expended" are substituted for "shall be
    available without fiscal year limitation" for consistency in the
    revised title and with other titles of the United States Code.
      In subsection (b)(2), the words "amounts received by the Bureau"
    are substituted for "all amounts recoverable as provided in section
    181 of this title for the costs of work and services performed by
    the Bureau, and all other amounts receivable by the Bureau from
    whatever sources derived" to eliminate unnecessary words.
      In subsection (c)(1), the words "amounts appropriated to the
    Fund" are substituted for "an initial appropriation by the Congress
    to the fund of not to exceed $5,000,000 and such additional amounts
    as from time to time may be appropriated for the purposes of the
    fund" to eliminate unnecessary words.
      In subsection (c)(2), the words "such inventories and other
    physical assets to be capitalized at fair and reasonable values to
    be determined by the Secretary" are omitted as executed. The words
    "receivables and the inventories" are omitted as covered by
    "physical assets". The words "unexpended balances of
    appropriations" are omitted as unnecessary because of clause (1).
      In subsection (c)(3), the words "$5,000,000, to remain available
    until expended" are omitted as unnecessary because of the source
    provision restated in subsection (a)(2) of this section. The text
    of 31:181a(a)(3) and (b) is omitted as executed.
      In subsection (d), the words "each fiscal year" are substituted
    for "ensuing fiscal year", and the words "prior fiscal year" are
    added, because of the restatement. The word "Secretary" is added
    because of sections 301 and 303 of the revised title. The words
    "decides are in excess of the needs of the Fund" are substituted
    for "surplus" for consistency in the chapter. The words "may use"
    are substituted for "may be applied first" to eliminate unnecessary
    words. The word "reduced" is substituted for "impairment" for
    clarity.
      In subsection (e), the words "Secretary shall maintain" are
    substituted for "shall be established" because of sections 301 and
    303 of the revised title and to eliminate executed words. The words
    "in the Treasury" are substituted for "with the Treasurer of the
    United States" because of Department of the Treasury Order 229 of
    January 14, 1974 (39 F.R. 2280). The text of 31:181a(f)(last
    sentence) is omitted as unnecessary because of the source
    provisions restated in section 3325 of the revised title.
-End-
-CITE-
    31 USC Sec. 5143                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING
-HEAD-
    Sec. 5143. Payment for services
-STATUTE-
      The Secretary of the Treasury shall impose charges for Bureau of
    Engraving and Printing services the Secretary provides to an agency
    or to a foreign government under section 5114. The charges shall be
    in amounts the Secretary considers adequate to cover the costs of
    the services (including administrative and other costs related to
    providing the services). The agency shall pay promptly bills
    submitted by the Secretary, and the Secretary shall take such
    action, in coordination with the Secretary of State, as may be
    appropriate to ensure prompt payment by a foreign government of any
    invoice or statement of account submitted by the Secretary with
    respect to services rendered under section 5114.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 991; Pub. L. 108-458,
    title VI, Sec. 6301(b), Dec. 17, 2004, 118 Stat. 3748.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5143         31:181.                 Aug. 4, 1950, ch. 558, Sec. 1,
                                          64 Stat. 408.
    --------------------------------------------------------------------
      The word "costs" is substituted for "direct and indirect costs"
    to eliminate unnecessary words. The words "shall make payment
    therefor" are omitted as unnecessary because of the restatement.
    The words "from funds available to it for such purposes" are
    omitted as surplus.
                                AMENDMENTS
      2004 - Pub. L. 108-458 inserted "or to a foreign government under
    section 5114" after "provides to an agency", "and other" after
    "including administrative", and ", and the Secretary shall take
    such action, in coordination with the Secretary of State, as may be
    appropriate to ensure prompt payment by a foreign government of any
    invoice or statement of account submitted by the Secretary with
    respect to services rendered under section 5114" before period at
    end.
-End-
-CITE-
    31 USC Sec. 5144                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER IV - BUREAU OF ENGRAVING AND PRINTING
-HEAD-
    Sec. 5144. Providing impressions of portraits and vignettes
-STATUTE-
      The Secretary of the Treasury may provide impressions from an
    engraved portrait or vignette in the possession of the Bureau of
    Engraving and Printing. An impression shall be provided -
        (1) at the request of -
          (A) a member of Congress;
          (B) a head of an agency;
          (C) an art association; or
          (D) a library; and
        (2) for a charge and under conditions the Secretary decides are
      necessary to protect the public interest.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 991.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5144         31:174.                 Dec. 22, 1879, ch. 2, 21 Stat.
                                          59.
    --------------------------------------------------------------------
      In the section, before clause (1), the word "engraved" is added
    before "portrait" because of the restatement. The words "in the
    possession" are substituted for "which is now, or may be a part of
    the engraved stock" to eliminate unnecessary words. The words "An
    impression shall be provided" are added because of the restatement.
    In clause (1)(A), the words "member of Congress" are substituted
    for "Senator, Representative, or Delegate in Congress" for
    consistency. In clause (1)(B), the word "agency" is substituted for
    "department or bureau" because of section 101 of the revised title
    and for consistency in the revised title. In clause (2), the words
    "for a charge and under conditions the Secretary decides are" are
    substituted for "at such rates and under such conditions as he may
    deem" for consistency.
-End-
-CITE-
    31 USC SUBCHAPTER V - MISCELLANEOUS                         01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER V - MISCELLANEOUS
-HEAD-
                       SUBCHAPTER V - MISCELLANEOUS
-End-
-CITE-
    31 USC Sec. 5151                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER V - MISCELLANEOUS
-HEAD-
    Sec. 5151. Conversion of currency of foreign countries
-STATUTE-
      (a) In this section -
        (1) "buying rate" means the buying rate in the market in New
      York, New York, for cable transfers payable in the currency of a
      foreign country to be converted.
        (2) when merchandise is exported on a day that banks are
      generally closed in New York, the buying rate at noon on the last
      prior business day is deemed to be the buying rate at noon on the
      day the merchandise is exported.
      (b) The value of coins of a foreign country expressed in United
    States money is the value of the pure metal of the standard coin of
    the foreign country. The Secretary of the Treasury shall estimate
    the values of standard coins of the country quarterly and publish
    the values on the first day of January, April, July, and October of
    each year.
      (c) Except as provided in this section, conversion of currency of
    a foreign country into United States currency for assessment and
    collection of duties on merchandise imported into the United States
    shall be made at values published by the Secretary under subsection
    (b) of this section for the quarter in which the merchandise is
    exported.
      (d) If the Secretary has not published a value for the quarter in
    which the merchandise is exported, or if the value published by the
    Secretary varies by at least 5 percent from a value measured by the
    buying rate at noon on the day the merchandise is exported, the
    conversion of the currency of the foreign country shall be made at
    a value -
        (1) equal to the buying rate at noon on the day the merchandise
      is exported; or
        (2) prescribed by regulation of the Secretary for the currency
      that is equal to the first buying rate certified for that
      currency by the Federal Reserve Bank of New York under subsection
      (e) of this section in the quarter in which the merchandise is
      exported, but only if the buying rate at noon on the day the
      merchandise is exported varies less than 5 percent from the
      buying rate first certified.
      (e) The Federal Reserve Bank of New York shall decide the buying
    rate and certify the rate to the Secretary. The Secretary shall
    publish the rate at times and to the extent the Secretary considers
    necessary. In deciding the buying rate, the Bank may -
        (1) consider the last ascertainable transactions and quotations
      (direct or through exchange of other currencies); and
        (2) if there is no buying rate, calculate the rate from -
          (A) actual transactions and quotations in demand or time
        bills of exchange; or
          (B) the last ascertainable transactions and quotations
        outside the United States in or for exchange payable in United
        States currency or foreign currency.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 991.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5151(a)      31:372(c)(2)(1st        June 17, 1930, ch. 497, Sec.
                  sentence), (3).         522(c), 46 Stat. 740; restated
                                          Aug. 2, 1956, ch. 887, Sec. 3,
                                          70 Stat. 946.
    5151(b)      31:372(a).              Aug. 27, 1894, ch. 349, Sec.
                                          25, 28 Stat. 552; May 27,
                                          1921, ch. 14, Sec. 403(a), 42
                                          Stat. 17; restated June 17,
                                          1930, ch. 497, Sec. 522(a), 46
                                          Stat. 739.
    5151(c)      31:372(b).              June 17, 1930, ch. 497, Sec.
                                          522(b), 46 Stat. 740.
    5151(d)      31:372(c)(1).
    5151(e)      31:372(c)(2)(2d,
                  last sentences).
    --------------------------------------------------------------------
      In subsection (b), the words "United States money" are
    substituted for "money of account" for consistency in the chapter.
    The words "standard coins of the country" are substituted for
    "values of standard coins in circulation of the various nations of
    the world" to eliminate unnecessary words. The words "Secretary of
    the Treasury" are substituted for "Director of the Mint" because of
    the source provisions restated in section 321(c) of the revised
    title.
      In subsection (c), the words "on or after June 17, 1930" are
    omitted as executed.
      In subsection (d)(1), the words "buying rate at noon on the day
    the merchandise is exported" are substituted for "such buying rate"
    for clarity.
      In subsection (d)(2), the words "that is equal to" are
    substituted for "at a value measured by" because of the
    restatement.
      In subsection (e)(2), the words "buying rate" are substituted for
    "market buying rate for such cable transfers" to eliminate
    unnecessary words.
-End-
-CITE-
    31 USC Sec. 5152                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER V - MISCELLANEOUS
-HEAD-
    Sec. 5152. Value of United States money holdings in international
      institutions
-STATUTE-
      The Secretary of the Treasury shall maintain the value in terms
    of gold of the holdings of United States money of the International
    Bank for Reconstruction and Development, the Inter-American
    Development Bank, the International Development Association, and
    the Asian Development Bank to the extent provided in the articles
    of agreement of those institutions. Amounts necessary to maintain
    the value may be appropriated. Amounts appropriated under this
    section remain available until expended.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 992.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5152         31:449a.                Mar. 31, 1972, Pub. L. 92-268,
                                          Sec. 3, 86 Stat. 117.
    --------------------------------------------------------------------
      The word "money" is substituted for "dollars" for consistency in
    the revised title. The words "the International Monetary Fund" are
    omitted as obsolete because of section 9 of the Act of October 19,
    1976 (Pub. L. 94-564, 90 Stat. 2661).
-End-
-CITE-
    31 USC Sec. 5153                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER V - MISCELLANEOUS
-HEAD-
    Sec. 5153. Counterfeit currency
-STATUTE-
      Disbursing officials of the United States Government and officers
    of national banks shall stamp or mark the word "counterfeit",
    "altered", or "worthless" on counterfeit notes intended to
    circulate as currency that are presented to them. An official or
    officer wrongfully stamping or marking an item of genuine United
    States currency (including a Federal reserve note or a circulating
    note of Federal reserve banks and national banks) shall redeem the
    currency at face value when presented.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 992.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5153         31:424.                 June 30, 1876, ch. 156, Sec.
                                          5, 19 Stat. 64.
    --------------------------------------------------------------------
      The words "Disbursing officials" are substituted for "officers
    charged with the receipt or disbursement of public moneys" for
    consistency in the revised title and other titles of the United
    States Code. The word "mark" is substituted for "write in plain
    letters" to eliminate unnecessary words. The words "counterfeit
    notes intended to circulate as currency" are substituted for "all
    fraudulent notes issued in the form of, and intended to circulate
    as money" for consistency in the revised title and with other
    titles of the Code. The last sentence is substituted for the words
    following the semicolon in 31:424 for clarity and to reflect the
    legislative history of the derivative source. See 4 Cong. Rec. 2225-
    2228, 3148. In that sentence, the words "United States currency
    (including a Federal reserve note or a circulating note of Federal
    reserve banks and national banks)" are substituted for "any genuine
    note of the United States, or of the national banks" for
    consistency with section 5103 of the revised title.
-End-
-CITE-
    31 USC Sec. 5154                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER V - MISCELLANEOUS
-HEAD-
    Sec. 5154. State taxation
-STATUTE-
      A State or a territory or possession of the United States may tax
    United States coins and currency (including Federal reserve notes
    and circulating notes of Federal reserve banks and national banks)
    as money on hand or on deposit in the same way and at the same rate
    that the State, territory, or possession taxes other forms of
    money. This section does not affect a law taxing national banks.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 992; Pub. L. 97-452, Sec.
    1(22), Jan. 12, 1983, 96 Stat. 2477.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
                                 1982 ACT
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5154         31:425, 426.            Aug. 13, 1894, ch. 281, 28
                                          Stat. 278.
    --------------------------------------------------------------------
      The words "United States coins and currency (including Federal
    reserve notes and circulating notes of Federal reserve banks and
    national banks)" are substituted for "Circulating notes of national
    banking associations and United States legal tender notes and other
    notes and certificates of the United States payable on demand and
    circulating or intended to circulate as currency and gold, silver,
    or other coin" in 31:425 to eliminate unnecessary words and for
    consistency with section 5103 of the revised title.
                                 1983 ACT
      This restates 31:5154 to clarify the intent of the section. See
    26 Cong. Rec. 7152, 7170 (1894).
                                AMENDMENTS
      1983 - Pub. L. 97-452 substituted "other forms of money" for
    "United States coins and currency circulating within its
    jurisdiction".
                     EFFECTIVE DATE OF 1983 AMENDMENT
      Amendment effective Sept. 13, 1982, see section 2(i) of Pub. L.
    97-452, set out as a note under section 3331 of this title.
-End-
-CITE-
    31 USC Sec. 5155                                            01/03/2007
-EXPCITE-
    TITLE 31 - MONEY AND FINANCE
    SUBTITLE IV - MONEY
    CHAPTER 51 - COINS AND CURRENCY
    SUBCHAPTER V - MISCELLANEOUS
-HEAD-
    Sec. 5155. Providing engraved plates of portraits of deceased
      members of Congress
-STATUTE-
      On conditions the Secretary of the Treasury decides, the
    Secretary may send an engraved plate of a portrait of a deceased
    Senator or Representative to an heir or legal representative of
    such a Senator or Representative.
-SOURCE-
    (Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 993.)
-MISC1-
                       HISTORICAL AND REVISION NOTES
    --------------------------------------------------------------------
     Revised      Source (U.S. Code)        Source (Statutes at Large)
     Section
    --------------------------------------------------------------------
    5155         31:175.                 July 1, 1916, ch. 209, Sec.
                                          1(3d par. on p. 275), 39 Stat.
                                          275.
    --------------------------------------------------------------------
      The words "terms and" are omitted as being included in
    "conditions". The words "that have been or may be made" are omitted
    as unnecessary.
-End-