A bill to require the Secretary of the Treasury to mint coins in recognition and celebration of the establishment of the Medal of Honor in 1861, America's highest award for valor in action against an enemy force which can be bestowed upon an individual serving in the Armed Services of the United States, to honor the American military men and women who have been recipients of the Medal of Honor, and to promote awareness of what the Medal of Honor represents and how ordinary Americans, through courage, sacrifice, selfless service and patriotism, can challenge fate and change the course of history.

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Medal of Honor Commemorative Coin 
Act of 2009''.

SEC. 2. FINDINGS.

    The Congress finds as follows:
            (1) The Medal of Honor was first authorized by the Congress 
        in 1861, as the United States Navy's highest personal 
        decoration.
            (2) The Army Medal of Honor was authorized by the Congress 
        in 1862, and the Air Force Medal of Honor was authorized by 
        Congress in 1956.
            (3) The Medal of Honor is presented by the President of the 
        United States in the name of the Congress, to a person who, 
        while a member of the United States Armed Forces distinguishes 
        himself or herself conspicuously by gallantry and intrepidity, 
        at the risk of his or her life, and above and beyond the call 
        of duty--
                    (A) while engaged in action against an enemy of the 
                United States;
                    (B) while engaged in military operations involving 
                conflict with an opposing foreign force; or
                    (C) while serving with friendly foreign forces 
                engaged in an armed conflict against an opposing armed 
                force in which the United States is not a belligerent 
                party.
            (4) The deed performed must have been one of personal 
        bravery or self-sacrifice so conspicuous as to clearly 
        distinguish the individual above his or her comrades, and must 
        have involved risk of life.
            (5) Incontestable proof of the performance of the service 
        is required, and each recommendation for the award of the Medal 
        of Honor is considered on the standard of extraordinary merit.
            (6) Fewer than 3,500 Medals of Honor have been awarded to 
        members of the United States Armed Forces.
            (7) The Congressional Medal of Honor Society is a not-for-
        profit organization chartered by the 85th Congress under a 
        legislative act signed into law by President Dwight D. 
        Eisenhower on August 14, 1958, and membership in the Society is 
        restricted to recipients of the Medal of Honor.
            (8) Society members--
                    (A) are joined together for the purpose of forming 
                and maintaining friendship among all living recipients 
                of the Medal of Honor and remembrance of posthumous and 
                deceased recipients; and
                    (B) are dedicated to the protection and 
                preservation of the dignity, honor, and name of the 
                Medal of Honor, service to others, service to Nation, 
                and the promotion of allegiance to the Constitution and 
                the Government of the United States.
            (9) Members of the Society act to foster patriotism and to 
        inspire and encourage the youth of America to become worthy 
        citizens.
            (10) The Congressional Medal of Honor Foundation, a 
        501(c)(3) not-for-profit organization founded by the Society in 
        1999, is dedicated to--
                    (A) perpetuating the Medal of Honor's legacy 
                through outreach and collaborative efforts;
                    (B) raising funds for initiatives that promote what 
                the Medal of Honor represents, operation of the 
                Congressional Medal of Honor Society headquarters, and 
                the public outreach activities of the Medal of Honor 
                Society's membership; and
                    (C) promoting American values and the qualities of 
                courage, sacrifice, and patriotism through increased 
                awareness, education, scholarships, behavior, and 
                example.
            (11) Through its educational and outreach programs, the 
        Congressional Medal of Honor Foundation promotes heroism, 
        selflessness and distinguished citizenship among American 
        youth, and brings public awareness to the actions of ordinary 
        Americans who have made and are making a profound difference in 
        preserving our freedoms.

SEC. 3. COIN SPECIFICATIONS.

    (a) Denominations.--In recognition and celebration of the founding 
of the Medal of Honor in 1861, and notwithstanding any other provision 
of law, the Secretary of the Treasury (hereafter 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 gold 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 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 the traditions, legacy, and heritage 
        of the Medal of Honor, and the distinguished service of its 
        recipients in the Nation's history.
            (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 ``2011''; 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--
            (1) contain motifs that represent the 3 Medal of Honor 
        designs (Army, Navy, and Air Force) and specifically honor the 
        Medal of Honor recipients, both past and present, such designs 
        to be consistent with the traditions and heritage of the United 
        States Armed Services, the mission and goals of the 
        Congressional Medal of Honor Society, and the mission and goals 
        of the Congressional Medal of Honor Foundation;
            (2) be selected by the Secretary, after consultation with 
        the Boards of the Congressional Medal of Honor Society and 
        Congressional Medal of Honor Foundation and the Commission of 
        Fine Arts; and
            (3) be reviewed by the Citizens Coin Advisory Committee.

SEC. 5. ISSUANCE.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--For each of the 2 denomination of coins minted 
under this Act, at least 1 facility of the United States Mint shall be 
used to strike proof quality coins, while at least 1 other such 
facility shall be used to strike the uncirculated quality coins.
    (c) Period for Issuance.--The Secretary of the Treasury may issue 
coins minted under this Act only during the 1-year period beginning on 
January 1, 2011.

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 by the Secretary to 
the Congressional Medal of Honor Foundation to help finance the 
educational, scholarship, and outreach programs of the Foundation.
    (c) Audits.--The Congressional Medal of Honor Foundation 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 2 commemorative 
coin program issuance limitation under section 5112(m)(1) of title 31, 
United States Code (as in effect on the date of enactment of this Act). 
The Secretary may issue guidance to carry out this subsection.

Summary: Medal of Honor Commemorative Coin Act of 2009 - Directs the Secretary of the Treasury to mint and issue $5 gold coins and $1 silver coins emblematic of the design selected by the Secretary, after consultation with the Boards of the Congressional Medal of Honor Society and the Congressional Medal of Honor Foundation, in honor of the distinguished service of the American military men and women who have been Medal of Honor recipients. Limits the period for coin issuance to calendar year 2011. Imposes a surcharge of $35 per coin for the $5 coin and $10 per coin for the $1 coin, to be distributed to the Congressional Medal of Honor Foundation to help finance educational, scholarship, and outreach programs of the Foundation.