Carson City Mint 150th Anniversary Commemorative Coin Act of 2018

Summary: Carson City Mint 150th Anniversary Commemorative Coin Act of 2018 This bill directs the Department of the Treasury to mint and issue $5 gold coins and $1 silver coins in commemoration of the 150th anniversary of the Carson City Mint in Carson City, Nevada.  All surcharges from sales of such coins shall be paid to the Nevada State Museum Dedicated Trust Fund. 

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Carson City Mint 150th Anniversary 
Commemorative Coin Act of 2018''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) The Carson City Mint played an important role in the 
        founding of the Great American West.
            (2) Congress established the Carson City Mint in 1863 to 
        serve the coinage needs brought on by the Comstock Lode during 
        the silver rush in Nevada.
            (3) The Carson City Mint was designed by Alfred Mullett, 
        the supervising architect for the United States Department of 
        the Treasury.
            (4) The brick used to construct the Carson City Mint was 
        manufactured at the Adams Brick Works in Genoa, operated by the 
        grandsons of John Quincy Adams.
            (5) The opening of the Carson City Mint was delayed due to 
        the Civil War.
            (6) The Carson City Mint opened in December of 1869, and 
        produced its first coins on February 11, 1870.
            (7) Coins struck at the Carson City Mint were distinguished 
        by the ``CC'' mint mark.
            (8) The Carson City Mint coined more than $49,000,000 of 
        silver and gold.
            (9) The Carson City Mint ended coin production in 1893, due 
        to reduced mining of the Comstock Lode.
            (10) The Carson City Mint is listed on the National 
        Register of Historic Places.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denominations.--Notwithstanding any other provision of law, and 
in commemoration of the Carson City Mint's 150th Anniversary, the 
Secretary of the Treasury (hereinafter in this Act referred to as the 
``Secretary'') shall mint and issue the following coins:
            (1) $5 gold coins.--Not more than 100,000 $5 coins, 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 silver coins.--Not more than 500,000 $1 coins, which 
        shall--
                    (A) weigh 26.73 grams;
                    (B) have a diameter of 1.500 inches; and
                    (C) contain not less than 90 percent silver.
    (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) In General.--The design of the coins minted under this Act 
shall be emblematic of the Carson City Mint building, its importance to 
Nevada and the Nation's history, and its 150th anniversary.
    (b) Designation and Inscriptions.--On each coin minted under this 
Act, there shall be--
            (1) a designation of the value of the coin;
            (2) an inscription of the year ``2020''; and
            (3) inscriptions of the words ``Liberty'', ``In God We 
        Trust'', ``United States of America'', and ``E Pluribus Unum''.
    (c) Selection.--The design for the coins minted under this Act 
shall be--
            (1) selected by the Secretary, after consultation with the 
        Nevada State Museum Dedicated Trust Fund;
            (2) reviewed by the Citizens Coinage Advisory Committee; 
        and
            (3) selected in a timely fashion, which allows for the 
        minting of such coins to begin as quickly as possible.

SEC. 5. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Period for Issuance.--The Secretary may issue coins minted 
under this Act only during the 1-year period beginning on January 1, 
2020.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins issued 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(a) 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 
issued 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 prepaid 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 as follows:
            (1) A surcharge of $35 per coin for the $5 coin.
            (2) A surcharge of $10 per coin for the $1 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 to the Nevada State 
Museum Dedicated Trust Fund, for the purpose of supporting the Nevada 
State Museum mission.
    (c) Audits.--The Nevada State Museum Dedicated Trust Fund shall be 
subject to the audit requirements of section 5134(f)(2) of title 31, 
United States Code, with regard to the amounts received under 
subsection (b).
    (d) Limitation.--Notwithstanding subsection (a), no surcharge may 
be included with respect to the issuance under this Act of any coin 
during a calendar year if, as of the time of such issuance, the 
issuance of such coin would result in the number of commemorative coin 
programs issued during such year to exceed the annual commemorative 
coin program issuance limitation under section 5112(m)(1) of title 31, 
United States Code (as in effect on the date of the enactment of this 
Act). The Secretary of the Treasury may issue guidance to carry out 
this subsection.

SEC. 8. FINANCIAL ASSURANCES.

    The Secretary shall take such actions as may be necessary to ensure 
that--
            (1) minting and issuing coins under this Act will not 
        result in a net cost to the United States Government; and
            (2) no funds, including applicable surcharges, are 
        disbursed to the recipient designated in section 7 until the 
        total cost of designing and issuing all of the coins authorized 
        by this Act (including labor, materials, dies, use of 
        machinery, overhead expenses, marketing, and shipping) is 
        recovered by the United States Treasury, consistent with 
        sections 5112(m) and 5134(f) of title 31, United States Code.