PUBLIC LAW 106–435—NOV. 6, 2000

2002 WINTER OLYMPIC COMMEMORATIVE

COIN ACT

114 STAT. 1916 PUBLIC LAW 106–435—NOV. 6, 2000

Public Law 106–435

106th Congress

An Act

To provide for the minting of commemorative coins to support the 2002 Salt Lake

Olympic Winter Games and the programs of the United States Olympic Committee.

Be it enacted by the Senate and House of Representatives of

the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘‘2002 Winter Olympic Commemorative Coin Act’’.

SEC. 2. COIN SPECIFICATIONS.

(a) DENOMINATIONS.—The Secretary of the Treasury (hereafter

in this Act referred to as the ‘‘Secretary’’) shall mint and issue

the following coins:

(1) FIVE DOLLAR GOLD COINS.—Not more than 80,000 $5

coins, which shall weigh 8.359 grams, have a diameter of 0.850

inches, and contain 90 percent gold and 10 percent alloy.

(2) ONE DOLLAR SILVER COINS.—Not more than 400,000

$1 coins, which shall weigh 26.73 grams, have a diameter

of 1.500 inches, and contain 90 percent silver and 10 percent

copper.

(b) DESIGN.—The design of the coins minted under this Act

shall be emblematic of the participation of American athletes in

the 2002 Olympic Winter Games. On each coin there shall be

a designation of the value of the coin, an inscription of the year

‘‘2002’’, and inscriptions of the words ‘‘Liberty’’, ‘‘In God We Trust’’,

‘‘United States of America’’, and ‘‘E Pluribus Unum’’.

(c) LEGAL TENDER.—The coins minted under this Act shall

be legal tender, as provided in section 5103 of title 31, United

States Code.

(d) NUMISMATIC ITEMS.—For purposes of section 5134 of title

31, United States Code, all coins minted under this Act shall

be considered to be numismatic items.

SEC. 3. SOURCES OF BULLION.

(a) GOLD.—The Secretary shall obtain gold for minting coins

under this Act pursuant to the authority of the Secretary under

other provisions of law.

(b) SILVER.—The Secretary shall obtain silver for minting coins

under this Act from any available source, including from stockpiles

established under the Strategic and Critical Materials Stock Piling

Act.

SEC. 4. SELECTION OF DESIGN.

The design for the coins minted under this Act shall be—

(1) selected by the Secretary after consultation with—

2002 Winter

Olympic

Commemorative

Coin Act.

Utah

31 USC 5112

note.

Nov. 6, 2000

[H.R. 3679]

PUBLIC LAW 106–435—NOV. 6, 2000 114 STAT. 1917

(A) the Commission of Fine Arts;

(B) the United States Olympic Committee; and

(C) Olympic Properties of the United States—Salt Lake

2002, L.L.C., a Delaware limited liability company created

and owned by the Salt Lake Organizing Committee for

the Olympic Winter Games of 2002 (hereafter in this Act

referred to as ‘‘Olympic Properties of the United States’’);

and

(2) reviewed by the Citizens Commemorative Coin 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) COMMENCEMENT OF ISSUANCE.—The Secretary may issue

coins minted under this Act beginning January 1, 2002, except

that the Secretary may initiate sales of such coins, without issuance,

before such date.

(c) TERMINATION OF MINTING AUTHORITY.—No coins shall be

minted under this Act after December 31, 2002.

SEC. 6. SALE OF COINS.

(a) SALE PRICE.—Notwithstanding any other provision of law,

the coins issued under this Act shall be sold by the Secretary

at a price equal to the face value, plus the cost of designing

and issuing such coins (including labor, materials, dies, use of

machinery, overhead expenses, and marketing).

(b) BULK SALES.—The Secretary shall make bulk sales of the

coins issued under this Act at a reasonable discount.

(c) PREPAID ORDERS AT A DISCOUNT.—The Secretary shall

accept prepaid orders for the coins minted under this Act before

the issuance of such coins. Sales under this subsection shall be

at a reasonable discount.

SEC. 7. SURCHARGES.

(a) SURCHARGE REQUIRED.—All sales shall include a surcharge of $35 per coin for the $5 coins and $10 per coin for the $1

coins.

(b) DISTRIBUTION.—Subject to section 5134(f ) of title 31, United

States Code, all surcharges which are received by the Secretary

from the sale of coins issued under this Act shall be promptly

paid by the Secretary as follows:

(1) SALT LAKE ORGANIZING COMMITTEE FOR THE OLYMPIC

WINTER GAMES OF 2002.—One half to the Salt Lake Organizing

Committee for the Olympic Winter Games of 2002 for use

in staging and promoting the 2002 Salt Lake Olympic Winter

Games.

(2) UNITED STATES OLYMPIC COMMITTEE.—One half to the

United States Olympic Committee for use by the Committee

for the objects and purposes of the Committee as established

in the Amateur Sports Act of 1978.

114 STAT. 1918 PUBLIC LAW 106–435—NOV. 6, 2000

LEGISLATIVE HISTORY—H.R. 3679 (S. 2266):

SENATE REPORTS: No. 106–355 accompanying S. 2266 (Comm. on Banking, Housing, and Urban Affairs).

CONGRESSIONAL RECORD, Vol. 146 (2000):

Sept. 19, considered and passed House.

Oct. 23, considered and passed Senate.

Æ

(c) AUDITS.—Each organization that receives any payment from

the Secretary under this section shall be subject to the audit

requirements of section 5134(f )(2) of title 31, United States Code.

Approved November 6, 2000.