A bill to require the Secretary of the Treasury to mint coins in commemoration of Chief Justice John Marshall.

Summary: Chief Justice John Marshall Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue not more than 400,000 silver one-ollar coins emblematic of Chief Justice John Marshall and his contributions to the United States in commemoration of the 250th anniversary of his birth.

Directs that all sales of coins minted under this Act include a ten-dollar per coin surcharge, to be paid by the Secretary to the Supreme Court Historical Society for purposes of: (1) historical research about the Supreme Court, the Constitution, and related topics; (2) supporting fellowship programs, internships, and docents at the Supreme Court; and (3) collecting and preserving related antiques, artifacts, and other historical items.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Chief Justice John Marshall 
Commemorative Coin Act''.

SEC. 2. FINDINGS.

    Congress finds that--
            (1) John Marshall served as the Chief Justice of the 
        Supreme Court of the United States from 1801 to 1835, the 
        longest tenure of any Chief Justice in the Nation's history;
            (2) Under Marshall's leadership, the Supreme Court 
        expounded the fundamental principles of constitutional 
        interpretation, including judicial review, and affirmed 
        national supremacy, both of which served to secure the newly 
        founded United States against dissolution; and
            (3) John Marshall's service to the nascent United States, 
        not only as Chief Justice, but also as a soldier in the 
        Revolutionary War, as a member of the Virginia Congress and the 
        United States Congress, and as Secretary of State, makes him 
        one of the most important figures in our Nation's history.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denomination.--In commemoration of the 250th anniversary of the 
birth of Chief Justice John Marshall, the Secretary of the Treasury (in 
this Act referred to as the ``Secretary'') shall mint and issue not 
more than 400,000 $1 coins, each of which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; and
            (3) contain 90 percent silver and 10 percent copper.
    (b) Legal Tender.--The coins minted under this Act shall be legal 
tender, as provided in section 5103 of title 31, United States Code.
    (c) Numismatic Items.--For purposes of sections 5134 and 5136 of 
title 31, United States Code, all coins minted under this Act shall be 
considered to be numismatic items.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall be emblematic of Chief Justice John Marshall and his 
        contributions to the United States.
            (2) Designation and inscriptions.--On each coin minted 
        under this Act, there shall be--
                    (A) a designation of the value of the coin;
                    (B) an inscription of the year ``2005''; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum''.
    (b) Selection.--The design for the coins minted under this Act 
shall be--
            (1) selected by the Secretary, after consultation with the 
        Commission of Fine Arts, and the Supreme Court Historical 
        Society; and
            (2) reviewed by the Citizens Coinage Advisory Committee.

SEC. 5. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--Only one facility of the United States Mint may 
be used to strike any particular quality of the coins minted under this 
Act.
    (c) Commencement of Issuance.--The Secretary may issue coins minted 
under this Act beginning on January 1, 2005.
    (d) Termination of Minting Authority.--No coins may be minted under 
this Act after December 31, 2005.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins minted under this Act shall be sold by 
the Secretary at a price equal to the sum of--
            (1) the face value of the coins;
            (2) the surcharge provided in section 7 with respect to 
        such coins; and
            (3) the cost of designing and issuing the coins (including 
        labor, materials, dies, use of machinery, overhead expenses, 
        marketing, and shipping).
    (b) Bulk Sales.--The Secretary shall make bulk sales of the coins 
minted under this Act at a reasonable discount.
    (c) Prepaid Orders.--
            (1) In general.--The Secretary shall accept prepaid orders 
        for the coins minted under this Act before the issuance of such 
        coins.
            (2) Discount.--Sale prices with respect to pre-paid orders 
        under paragraph (1) shall be at a reasonable discount.

SEC. 7. SURCHARGES.

    (a) In General.--All sales of coins minted under this Act shall 
include a surcharge of $10 per coin.
    (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, all surcharges received by the Secretary from the sale of 
coins issued under this Act shall be promptly paid by the Secretary to 
the Supreme Court Historical Society for the purposes of--
            (1) historical research about the Supreme Court and the 
        Constitution of the United States and related topics;
            (2) supporting fellowship programs, internships, and 
        docents at the Supreme Court; and
            (3) collecting and preserving antiques, artifacts, and 
        other historical items related to the Supreme Court and the 
        Constitution of the United States and related topics.
    (c) Audits.--The Supreme Court Historical Society shall be subject 
to the audit requirements of section 5134(f)(2) of title 31, United 
States Code, with regard to the amounts received by the Society under 
subsection (b).

SEC. 8. FINANCIAL ASSURANCES.

    (a) No Net Cost to the Government.--The Secretary shall take such 
actions as may be necessary to ensure that the minting and issuance of 
the coins referred to in section 3(a) shall result in no net cost to 
the Federal Government.
    (b) Payment for the Coins.--The Secretary may not sell a coin 
referred to in section 3(a) unless the Secretary has received--
            (1) full payment for the coin;
            (2) security satisfactory to the Secretary to indemnify the 
        Federal Government for full payment; or
            (3) a guarantee of full payment satisfactory to the 
        Secretary from a depository institution, the deposits of which 
        are insured by the Federal Deposit Insurance Corporation, the 
        Federal Savings and Loan Insurance Corporation, or the National 
        Credit Union Administration Board.

            Passed the Senate November 21, 2003.

            Attest:

                                             EMILY J. REYNOLDS,

                                                             Secretary.