Yellowstone National Park 125th Anniversary Commemorative Coin Act

Summary: Yellowstone National Park 125th Anniversary Commemorative Coin Act - Directs the Secretary of the Treasury to:  (1) mint and issue coins to commemorate the 125th anniversary of Yellowstone National Park; and (2) distribute 25 percent of the surcharges received from coin sales to the Secretary of the Interior for the Park, 25 percent to the Secretary for the National Park Service, and 50 percent to the Treasury for the sole purpose of reducing the national debt.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Yellowstone National Park 125th 
Anniversary Commemorative Coin Act''.

SEC. 2. YELLOWSTONE NATIONAL PARK COMMEMORATIVE COIN.

    The Secretary of the Treasury (in this Act referred to as the 
``Secretary'') shall mint and issue coins in accordance with this Act 
to commemorate the 125th anniversary of Yellowstone National Park.

SEC. 3. SPECIFICATIONS.

    (a) Denominations.--
            (1) 5 dollar gold coins.--The Secretary shall mint and 
        issue not more than 500,000 5 dollar coins, each of which 
        shall--
                    (A) weigh 8.359 grams;
                    (B) have a diameter of 0.850 inches; and
                    (C) contain 90 percent gold and 10 percent alloy.
            (2) 1 dollar silver coins.--The Secretary shall mint and 
        issue not more than 2,500,000 1 dollar coins, each of which 
        shall--
                    (A) weigh 26.73 grams;
                    (B) have a diameter of 1.500 inches; and
                    (C) contain 90 percent silver and 10 percent 
                copper.
            (3) \1/2\ dollar clad coins.--The Secretary shall issue not 
        more than 2,500,000 \1/2\ dollar coins, each of which shall be 
        minted to the specifications for \1/2\ dollar coins contained 
        in section 5112(b) of title 31, United States Code.
    (b) Legal Tender.--The coins minted under this Act shall be legal 
tender as provided in section 5103 of title 31, United States Code.

SEC. 4. SOURCES OF BULLION.

    (a) Gold.--The Secretary shall obtain gold for the coins minted 
under this Act pursuant to the authority of the Secretary under 
existing law.
    (b) Silver.--The Secretary shall obtain silver for the coins minted 
under this Act from stockpiles established under the Strategic and 
Critical Minerals Stock Piling Act (50 U.S.C. 98 et seq.).

SEC. 5. DESIGN OF COINS.

    (a) In General.--The design of the coins minted under this Act 
shall be emblematic of Yellowstone National Park. On each coin, there 
shall be--
            (1) a designation of the value of the coin;
            (2) an inscription of the year ``1997''; and
            (3) inscriptions of the words--
                    (A) ``Liberty'';
                    (B) ``In God We Trust'';
                    (C) ``United States of America''; and
                    (D) ``E Pluribus Unum''.
    (b) Selection of Design.--The design of the coins minted under this 
Act shall be--
            (1) selected by the Secretary after consultation with the 
        United States Commission of Fine Arts; and
            (2) reviewed by the Citizens Commemorative Coin Advisory 
        Committee in accordance with section 5134 of title 31, United 
        States Code.

SEC. 6. ISSUANCE OF COINS.

    (a) Period of Issuance.--The coins minted under this Act shall be 
issued only during the year 1997.
    (b) Quality of Coins.--The coins minted under this Act shall be 
issued in uncirculated and proof qualities.
    (c) Mint Facility.--Not more than 1 facility of the United States 
Mint may be used to strike any particular combination of denomination 
and quality of coins minted under this Act.

SEC. 7. SALE OF COINS.

    (a) Sale Price.--The Secretary shall sell the coins minted under 
this Act at a price equal to the face value, plus the cost of 
designing, minting, and issuing the coins (including labor, materials, 
dies, use of machinery, overhead expenses, marketing, and shipping) and 
the surcharge provided for in subsection (d).
    (b) Bulk Sales.--The Secretary shall make bulk sales of the coins 
minted under this Act at a reasonable discount to reflect the lower 
costs of the sales.
    (c) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins minted under this Act prior to their issuance. Sales under 
this subsection shall be at a reasonable discount.
    (d) Surcharges.--
            (1) 5 dollar coins.--All sales of 5 dollar coins minted 
        under this Act shall include a surcharge of $35 per coin.
            (2) 1 dollar coins.--All sales of 1 dollar coins minted 
        under this Act shall include a surcharge of $7 per coin.
            (3) \1/2\ dollar coins.--All sales of \1/2\ dollar coins 
        minted under this Act shall include a surcharge of $1 per coin.

SEC. 8. USE OF SURCHARGES.

    Surcharges received from the sale of coins minted under this Act 
shall be distributed by the Secretary as follows:
            (1) Yellowstone national park.--25 percent of the 
        surcharges shall be paid to the Secretary of the Interior to be 
        used for Yellowstone National Park, which amounts shall be in 
        addition to any other amounts appropriated or otherwise made 
        available for Yellowstone National Park.
            (2) National park service.--25 percent of the surcharges 
        shall be paid to the Secretary of the Interior for use by the 
        National Park Service.
            (3) Reduction of national debt.--50 percent of the 
        surcharges shall be transferred to the general fund of the 
        Treasury for the sole purpose of reducing the national debt.

SEC. 9. FINANCIAL ASSURANCES.

    The Secretary shall take actions necessary to ensure that the 
minting and issuance of coins under this Act will not result in any net 
cost to the Federal Government.

SEC. 10. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    (a) In General.--Except as provided in subsection (b), no provision 
of law governing procurement or public contracts shall be applicable to 
the procurement of goods or services relating to the minting and 
selling of the coins authorized by this Act.
    (b) Equal Employment Opportunity.--Subsection (a) shall not relieve 
any person entering into a contract under the authority of this Act 
from complying with any law relating to equal employment opportunity.

SEC. 11. NUMISMATIC PUBLIC ENTERPRISE FUND.

    The coins issued under this Act are subject to the provisions of 
section 5134 of title 31, United States Code, relating to the 
Numismatic Public Enterprise Fund.