II 

109TH CONGRESS 

1ST SESSION S. 1047 

To require the Secretary of the Treasury to mint coins in commemoration 

of each of the Nation’s past Presidents and their spouses, respectively, 

to improve circulation of the $1 coin, to create a new bullion coin, 

and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

MAY 17, 2005 

Mr. SUNUNU (for himself, Mr. REID, Mrs. DOLE, Mr. HARKIN, Mr. ALEXANDER, Mr. DURBIN, Mr. LUGAR, Mr. ENSIGN, Mr. BUNNING, Mr. BAUCUS, Mr. INOUYE, Mr. BINGAMAN, Mr. LIEBERMAN, Ms. CANTWELL, Ms. 

COLLINS, Ms. LANDRIEU, Mr. GRASSLEY, Mr. COCHRAN, and Mr. STEVENS) introduced the following bill; which was read twice and referred 

to the Committee on Banking, Housing, and Urban Affairs 

A BILL

To require the Secretary of the Treasury to mint coins 

in commemoration of each of the Nation’s past Presidents and their spouses, respectively, to improve circulation of the $1 coin, to create a new bullion coin, and 

for other purposes.

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Presidential $1 Coin 

5 Act of 2005’’. 
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1 TITLE I—PRESIDENTIAL $1 

2 COINS 

3 SEC. 101. FINDINGS. 

4 Congress finds the following: 

5 (1) There are sectors of the United States econ6 omy, including public transportation, parking me7 ters, vending machines, and low-dollar value trans8 actions, in which the use of a $1 coin is both useful 

9 and desirable for keeping costs and prices down. 

10 (2) For a variety of reasons, the new $1 coin 

11 introduced in 2000 has not been widely sought-after 

12 by the public, leading to higher costs for merchants 

13 and thus higher prices for consumers. 

14 (3) The success of the 50 States Commemora15 tive Coin Program (31 U.S.C. 5112(l)) for circu16 lating quarter dollars shows that a design on a 

17 United States circulating coin that is regularly 

18 changed in a manner similar to the systematic 

19 change in designs in such Program radically in20 creases demand for the coin, rapidly pulling it 

21 through the economy. 

22 (4) The 50 States Commemorative Coin Pro23 gram also has been an educational tool, teaching 

24 both Americans and visitors something about each 

25 State for which a quarter has been issued. 
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1 (5) A national survey and study by the Govern2 ment Accountability Office has indicated that many 

3 Americans who do not seek, or who reject, the new 

4 $1 coin for use in commerce would actively seek the 

5 coin if an attractive, educational rotating design 

6 were to be struck on the coin. 

7 (6) The President is the leader of our tripartite 

8 government and the President’s spouse has often set 

9 the social tone for the White House while spear10 heading and highlighting important issues for the 

11 country. 

12 (7) Sacagawea, as currently represented on the 

13 new $1 coin, is an important symbol of American 

14 history. 

15 (8) Many people cannot name all of the Presi16 dents, and fewer can name the spouses, nor can 

17 many people accurately place each President in the 

18 proper time period of American history. 

19 (9) First Spouses have not generally been rec20 ognized on American coinage. 

21 (10) In order to revitalize the design of United 

22 States coinage and return circulating coinage to its 

23 position as not only a necessary means of exchange 

24 in commerce, but also as an object of aesthetic beau25 ty in its own right, it is appropriate to move many 
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1 of the mottos and emblems, the inscription of the 

2 year, and the so-called ‘‘mint marks’’ that currently 

3 appear on the 2 faces of each circulating coin to the 

4 edge of the coin, which would allow larger and more 

5 dramatic artwork on the coins reminiscent of the so6 called ‘‘Golden Age of Coinage’’ in the United 

7 States, at the beginning of the Twentieth Century, 

8 initiated by President Theodore Roosevelt, with the 

9 assistance of noted sculptors and medallic artists 

10 James Earle Fraser and Augustus Saint-Gaudens. 

11 (11) Placing inscriptions on the edge of coins, 

12 known as edge-incusing, is a hallmark of modern 

13 coinage and is common in large-volume production 

14 of coinage elsewhere in the world, such as the 

15 2,700,000,000 2-Euro coins in circulation, but it has 

16 not been done on a large scale in United States coin17 age in recent years. 

18 (12) Although the Congress has authorized the 

19 Secretary of the Treasury to issue gold coins with a 

20 purity of 99.99 percent, the Secretary has not done 

21 so. 

22 (13) Bullion coins are a valuable tool for the in23 vestor and, in some cases, an important aspect of 

24 coin collecting. 
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1 SEC. 102. PRESIDENTIAL $1 COIN PROGRAM. 

2 Section 5112 of title 31, United States Code, is 

3 amended by adding at the end the following: 

4 ‘‘(n) REDESIGN AND ISSUANCE OF CIRCULATING $1 

5 COINS HONORING EACH OF THE PRESIDENTS OF THE

6 UNITED STATES.— 

7 ‘‘(1) REDESIGN BEGINNING IN 2007.— 

8 ‘‘(A) IN GENERAL.—Notwithstanding sub9 section (d) and in accordance with the provi10 sions of this subsection, $1 coins issued during 

11 the period beginning January 1, 2007, and end12 ing upon the termination of the program under 

13 paragraph (8), shall— 

14 ‘‘(i) have designs on the obverse se15 lected in accordance with paragraph (2)(B) 

16 which are emblematic of the Presidents of 

17 the United States; and 

18 ‘‘(ii) have a design on the reverse se19 lected in accordance with paragraph 

20 (2)(A). 

21 ‘‘(B) CONTINUITY PROVISION.—Notwith22 standing subparagraph (A), the Secretary shall 

23 continue to mint and issue $1 coins which bear 

24 any design in effect before the issuance of coins 

25 as required under this subsection (including the 

26 so-called ‘Sacagawea-design’ $1 coins). 
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1 ‘‘(2) DESIGN REQUIREMENTS.—The $1 coins 

2 issued in accordance with paragraph (1)(A) shall 

3 meet the following design requirements: 

4 ‘‘(A) COIN REVERSE.—The design on the 

5 reverse shall bear— 

6 ‘‘(i) a likeness of the Statue of Lib7 erty extending to the rim of the coin and 

8 large enough to provide a dramatic rep9 resentation of Liberty while not being large 

10 enough to create the impression of a ‘2-

11 headed’ coin; 

12 ‘‘(ii) the inscription ‘$1’ ; and 

13 ‘‘(iii) the inscription ‘United States of 

14 America’. 

15 ‘‘(B) COIN OBVERSE.—The design on the 

16 obverse shall contain— 

17 ‘‘(i) the name and likeness of a Presi18 dent of the United States; and 

19 ‘‘(ii) basic information about the 

20 President, including— 

21 ‘‘(I) the dates or years of the 

22 term of office of such President; and 

23 ‘‘(II) a number indicating the 

24 order of the period of service in which 

25 the President served. 
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1 ‘‘(C) EDGE-INCUSED INSCRIPTIONS.— 

2 ‘‘(i) IN GENERAL.—The inscription of 

3 the year of minting or issuance of the coin 

4 and the inscriptions ‘E Pluribus Unum’ 

5 and ‘In God We Trust’ shall be edge6 incused into the coin. 

7 ‘‘(ii) PRESERVATION OF DISTINCTIVE

8 EDGE.—The edge-incusing of the inscrip9 tions under clause (i) on coins issued 

10 under this subsection shall be done in a 

11 manner that preserves the distinctive edge 

12 of the coin so that the denomination of the 

13 coin is readily discernible, including by in14 dividuals who are blind or visually im15 paired. 

16 ‘‘(D) INSCRIPTIONS OF ‘LIBERTY’.—Not17 withstanding the second sentence of subsection 

18 (d)(1), because the use of a design bearing the 

19 likeness of the Statue of Liberty on the reverse 

20 of the coins issued under this subsection ade21 quately conveys the concept of Liberty, the in22 scription of ‘Liberty’ shall not appear on the 

23 coins. 

24 ‘‘(E) LIMITATION IN SERIES TO DECEASED

25 PRESIDENTS.—No coin issued under this sub-
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1 section may bear the image of a living former 

2 or current President, or of any deceased former 

3 President during the 2-year period following the 

4 date of the death of that President. 

5 ‘‘(3) ISSUANCE OF COINS COMMEMORATING

6 PRESIDENTS.— 

7 ‘‘(A) ORDER OF ISSUANCE.—The coins 

8 issued under this subsection commemorating 

9 Presidents of the United States shall be issued 

10 in the order of the period of service of each 

11 President, beginning with President George 

12 Washington. 

13 ‘‘(B) TREATMENT OF PERIOD OF SERV14 ICE.— 

15 ‘‘(i) IN GENERAL.—Subject to clause 

16 (ii), only 1 coin design shall be issued for 

17 a period of service for any President, no 

18 matter how many consecutive terms of of19 fice the President served. 

20 ‘‘(ii) NONCONSECUTIVE TERMS.—If a 

21 President has served during 2 or more 

22 nonconsecutive periods of service, a coin 

23 shall be issued under this subsection for 

24 each such nonconsecutive period of service. 
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1 ‘‘(4) ISSUANCE OF COINS COMMEMORATING 4

2 PRESIDENTS DURING EACH YEAR OF THE PERIOD.— 

3 ‘‘(A) IN GENERAL.—The designs for the 

4 $1 coins issued during each year of the period 

5 referred to in paragraph (1) shall be emblem6 atic of 4 Presidents until each President has 

7 been so honored, subject to paragraph (2)(E). 

8 ‘‘(B) NUMBER OF 4 CIRCULATING COIN

9 DESIGNS IN EACH YEAR.—The Secretary shall 

10 prescribe, on the basis of such factors as the 

11 Secretary determines to be appropriate, the 

12 number of $1 coins that shall be issued with 

13 each of the designs selected for each year of the 

14 period referred to in paragraph (1). 

15 ‘‘(5) LEGAL TENDER.—The coins minted under 

16 this title shall be legal tender, as provided in section 

17 5103. 

18 ‘‘(6) TREATMENT AS NUMISMATIC ITEMS.—For 

19 purposes of section 5134 and 5136, all coins minted 

20 under this subsection shall be considered to be nu21 mismatic items. 

22 ‘‘(7) ISSUANCE OF NUMISMATIC COINS.—The 

23 Secretary may mint and issue such number of $1 

24 coins of each design selected under this subsection 
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1 in uncirculated and proof qualities as the Secretary 

2 determines to be appropriate. 

3 ‘‘(8) TERMINATION OF PROGRAM.—The 

4 issuance of coins under this subsection shall termi5 nate when each President has been so honored, sub6 ject to paragraph (2)(E), and may not be resumed 

7 except by an Act of Congress. 

8 ‘‘(9) REVERSION TO PRECEDING DESIGN.—

9 Upon the termination of the issuance of coins under 

10 this subsection, the design of all $1 coins shall re11 vert to the so-called ‘Sacagawea-design’ $1 coins.’’. 

12 SEC. 103. FIRST SPOUSE BULLION COIN PROGRAM. 

13 Section 5112 of title 31, United States Code, as 

14 amended by section 102, is amended by adding at the end 

15 the following: 

16 ‘‘(o) FIRST SPOUSE BULLION COIN PROGRAM.— 

17 ‘‘(1) IN GENERAL.—During the same period de18 scribed in subsection (n), the Secretary shall issue 

19 bullion coins under this subsection that are emblem20 atic of the spouse of each such President. 

21 ‘‘(2) SPECIFICATIONS.—The coins issued under 

22 this subsection shall— 

23 ‘‘(A) have the same diameter as the $1 

24 coins described in subsection (n); 

25 ‘‘(B) weigh 0.5 ounce; and 
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1 ‘‘(C) contain 99.99 percent pure gold. 

2 ‘‘(3) DESIGN REQUIREMENTS.— 

3 ‘‘(A) COIN OBVERSE.—The design on the 

4 obverse of each coin issued under this sub5 section shall contain— 

6 ‘‘(i) the name and likeness of a person 

7 who was a spouse of a President during 

8 the President’s period of service; 

9 ‘‘(ii) an inscription of the years during 

10 which such person was the spouse of a 

11 President during the President’s period of 

12 service; and 

13 ‘‘(iii) a number indicating the order of 

14 the period of service in which such Presi15 dent served. 

16 ‘‘(B) COIN REVERSE.—The design on the 

17 reverse of each coin issued under this sub18 section shall bear— 

19 ‘‘(i) images emblematic of the life and 

20 work of the First Spouse whose image is 

21 borne on the obverse; and 

22 ‘‘(ii) the inscription ‘United States of 

23 America’. 

24 ‘‘(C) DESIGNATED DENOMINATION.—Each 

25 coin issued under this subsection shall bear, on 
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1 the reverse, an inscription of the nominal de2 nomination of the coin which shall be ‘$10’. 

3 ‘‘(D) DESIGN IN CASE OF NO FIRST

4 SPOUSE.—In the case of any President who 

5 served without a spouse— 

6 ‘‘(i) the image on the obverse of the 

7 bullion coin corresponding to the $1 coin 

8 relating to such President shall be an 

9 image emblematic of the concept of ‘Lib10 erty’— 

11 ‘‘(I) as represented on a United 

12 States coin issued during the period 

13 of service of such President; or 

14 ‘‘(II) as represented, in the case 

15 of President Chester Alan Arthur, by 

16 a design incorporating the name and 

17 likeness of Alice Paul, a leading strat18 egist in the suffrage movement, who 

19 was instrumental in gaining women 

20 the right to vote upon the adoption of 

21 the 19th amendment and thus the 

22 ability to participate in the election of 

23 future Presidents, and who was born 

24 on January 11, 1885, during the term 

25 of President Arthur; and 
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1 ‘‘(ii) the reverse of such bullion coin 

2 shall be of a design representative of 

3 themes of such President, except that in 

4 the case of the bullion coin referred to in 

5 clause (i)(II) the reverse of such coin shall 

6 be representative of the suffrage move7 ment. 

8 ‘‘(E) DESIGN AND COIN FOR EACH

9 SPOUSE.—A separate coin shall be designed and 

10 issued under this section for each person who 

11 was the spouse of a President during any por12 tion of a term of office of such President. 

13 ‘‘(F) INSCRIPTIONS.—Each bullion coin 

14 issued under this subsection shall bear the in15 scription of the year of minting or issuance of 

16 the coin and such other inscriptions as the Sec17 retary may determine to be appropriate. 

18 ‘‘(4) SALE OF BULLION COINS.—Each bullion 

19 coin issued under this subsection shall be sold by the 

20 Secretary at a price that is equal to or greater than 

21 the sum of— 

22 ‘‘(A) the face value of the coins; and 

23 ‘‘(B) the cost of designing and issuing the 

24 coins (including labor, materials, dies, use of 
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1 machinery, overhead expenses, marketing, and 

2 shipping). 

3 ‘‘(5) ISSUANCE OF COINS COMMEMORATING

4 FIRST SPOUSES.— 

5 ‘‘(A) IN GENERAL.—The bullion coins 

6 issued under this subsection with respect to any 

7 spouse of a President shall be issued on the 

8 same schedule as the $1 coin issued under sub9 section (n) with respect to each such President. 

10 ‘‘(B) MAXIMUM NUMBER OF BULLION

11 COINS FOR EACH DESIGN.—The Secretary 

12 shall— 

13 ‘‘(i) prescribe, on the basis of such 

14 factors as the Secretary determines to be 

15 appropriate, the maximum number of bul16 lion coins that shall be issued with each of 

17 the designs selected under this subsection; 

18 and 

19 ‘‘(ii) announce, before the issuance of 

20 the bullion coins of each such design, the 

21 maximum number of bullion coins of that 

22 design that will be issued. 

23 ‘‘(C) TERMINATION OF PROGRAM.—No 

24 bullion coin may be issued under this subsection 

25 after the termination, in accordance with sub-
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1 section (n)(8), of the $1 coin program estab2 lished under subsection (n). 

3 ‘‘(6) QUALITY OF COINS.—The bullion coins 

4 minted under this Act shall be issued in both proof 

5 and uncirculated qualities. 

6 ‘‘(7) SOURCE OF GOLD BULLION.— 

7 ‘‘(A) IN GENERAL.—The Secretary shall 

8 acquire gold for the coins issued under this sub9 section by purchase of gold mined from natural 

10 deposits in the United States, or in a territory 

11 or possession of the United States, within 1 

12 year after the month in which the ore from 

13 which it is derived was mined. 

14 ‘‘(B) PRICE OF GOLD.—The Secretary 

15 shall pay not more than the average world price 

16 for the gold mined under subparagraph (A). 

17 ‘‘(8) BRONZE MEDALS.—The Secretary may 

18 strike and sell bronze medals that bear the likeness 

19 of the bullion coins authorized under this subsection, 

20 at a price, size, and weight, and with such inscrip21 tions, as the Secretary determines to be appropriate. 

22 ‘‘(9) LEGAL TENDER.—The coins minted under 

23 this title shall be legal tender, as provided in section 

24 5103. 
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1 ‘‘(10) TREATMENT AS NUMISMATIC ITEMS.—

2 For purposes of section 5134 and 5136, all coins 

3 minted under this subsection shall be considered to 

4 be numismatic items.’’. 

5 SEC. 104. REMOVAL OF BARRIERS TO CIRCULATION. 

6 Section 5112 of title 31, United States Code, as 

7 amended by sections 102 and 103, by adding at the end 

8 the following: 

9 ‘‘(p) REMOVAL OF BARRIERS TO CIRCULATION OF $1 

10 COIN.— 

11 ‘‘(1) ACCEPTANCE BY AGENCIES AND INSTRU12 MENTALITIES.—Beginning January 1, 2006, all 

13 agencies and instrumentalities of the United States, 

14 the United States Postal Service, all non15 appropriated fund instrumentalities established 

16 under title 10, United States Code, all transpor17 tation and transit systems and entities that receive 

18 operational subsidies or any disbursement of funds 

19 from the Federal Government, such as funds from 

20 the Federal Highway Trust Fund, including the 

21 Mass Transit Account, and all entities that operate 

22 any business, including vending machines, on any 

23 premises owned by the United States or under the 

24 control of any agency or instrumentality of the 

25 United States, including the legislative and judicial 
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1 branches of the Federal Government, shall take such 

2 action as may be appropriate to ensure that by the 

3 end of the 1-year period beginning on such date— 

4 ‘‘(A) any business operations conducted by 

5 any such agency, instrumentality, system, or 

6 entity that involve coins or currency will be 

7 fully capable of accepting and dispensing $1 

8 coins in connection with such operations; and 

9 ‘‘(B) prominently displays signs and no10 tices denoting such capability on the premises 

11 where coins or currency are accepted or dis12 pensed, including on each vending machine. 

13 ‘‘(2) PUBLICITY.—The Director of the United 

14 States Mint, shall work closely with consumer 

15 groups, media outlets, and schools to ensure an ade16 quate amount of news coverage, and other means of 

17 increasing public awareness, of the inauguration of 

18 the Presidential $1 Coin Program established in 

19 subsection (n) to ensure that consumers know of the 

20 availability of the coin. 

21 ‘‘(3) COORDINATION.—The Board of Governors 

22 of the Federal Reserve System and the Secretary 

23 shall take steps to ensure that an adequate supply 

24 of $1 coins is available for commerce and collectors 
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1 at such places and in such quantities as are appro2 priate by— 

3 ‘‘(A) consulting, to accurately gauge de4 mand for coins and to anticipate and eliminate 

5 obstacles to the easy and efficient distribution 

6 and circulation of $1 coins as well as all other 

7 circulating coins, from time to time but no less 

8 frequently than annually, with a coin users 

9 group, which may include— 

10 ‘‘(i) representatives of merchants who 

11 would benefit from the increased usage of 

12 $1 coins; 

13 ‘‘(ii) vending machine and other coin 

14 acceptor manufacturers; 

15 ‘‘(iii) vending machine owners and op16 erators; 

17 ‘‘(iv) transit officials; 

18 ‘‘(v) municipal parking officials; 

19 ‘‘(vi) depository institutions; 

20 ‘‘(vii) coin and currency handlers; 

21 ‘‘(viii) armored-car operators; 

22 ‘‘(ix) car wash operators; and 

23 ‘‘(x) coin collectors and dealers; 

24 ‘‘(B) submitting an annual report to the 

25 Congress containing— 
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1 ‘‘(i) an assessment of the remaining 

2 obstacles to the efficient and timely cir3 culation of coins, particularly $1 coins; 

4 ‘‘(ii) an assessment of the extent to 

5 which the goals of subparagraph (C) are 

6 being met; and 

7 ‘‘(iii) such recommendations for legis8 lative action the Board and the Secretary 

9 may determine to be appropriate; 

10 ‘‘(C) consulting with industry representa11 tives to encourage operators of vending ma12 chines and other automated coin-accepting de13 vices in the United States to accept coins issued 

14 under the Presidential $1 Coin Program estab15 lished under subsection (n) and any coins bear16 ing any design in effect before the issuance of 

17 coins required under subsection (n) (including 

18 the so-called ‘Sacagawea-design’ $1 coins), and 

19 to include notices on the machines and devices 

20 of such acceptability; 

21 ‘‘(D) ensuring that— 

22 ‘‘(i) during an introductory period, all 

23 institutions that want unmixed supplies of 

24 each newly-issued design of $1 coins mint-
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1 ed under subsections (n) and (o) are able 

2 to obtain such unmixed supplies; and 

3 ‘‘(ii) circulating coins will be available 

4 for ordinary commerce in packaging of 

5 sizes and types appropriate for and useful 

6 to ordinary commerce, including rolled 

7 coins; 

8 ‘‘(E) working closely with any agency, in9 strumentality, system, or entity referred to in 

10 paragraph (1) to facilitate compliance with the 

11 requirements of such paragraph; and 

12 ‘‘(F) identifying, analyzing, and over13 coming barriers to the robust circulation of $1 

14 coins minted under subsections (n) and (o), in15 cluding the use of demand prediction, improved 

16 methods of distribution and circulation, and im17 proved public education and awareness cam18 paigns. 

19 ‘‘(4) BULLION DEALERS.—The Director of the 

20 United States Mint shall take all steps necessary to 

21 ensure that a maximum number of reputable, reli22 able, and responsible dealers are qualified to offer 

23 for sale all bullion coins struck and issued by the 

24 United States Mint. 
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1 ‘‘(5) REVIEW OF CO-CIRCULATION.—At such 

2 time as the Secretary determines to be appropriate, 

3 and after consultation with the Board of Governors 

4 of the Federal Reserve System, the Secretary shall 

5 notify the Congress of its assessment of issues re6 lated to the co-circulation of any circulating $1 coin 

7 bearing any design, other than the so-called 

8 ‘Sacagawea-design’ $1 coin, in effect before the 

9 issuance of coins required under subsection (n), in10 cluding the effect of co-circulation on the acceptance 

11 and use of $1 coins, and make recommendations to 

12 the Congress for improving the circulation of $1 

13 coins.’’. 

14 SEC. 105. SENSE OF THE CONGRESS. 

15 It is the sense of the Congress that— 

16 (1) the enactment of this Act will serve to in17 crease the use of $1 coins generally, which will in18 crease the circulation of the so-called ‘‘Sacagawea19 design’’ $1 coins that have been and will continue to 

20 be minted and issued; 

21 (2) the continued minting and issuance of the 

22 so-called ‘‘Sacagawea-design’’ $1 coins will serve as 

23 a lasting tribute to the role of women and Native 

24 Americans in the history of the United States; 
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1 (3) the full circulation potential and cost-sav2 ings benefit projections for the $1 coins are not like3 ly to be achieved unless the coins are delivered in 

4 ways useful to ordinary commerce; 

5 (4) the coins issued in connection with this title 

6 should not be introduced with an overly expensive 

7 taxpayer-funded public relations campaign; 

8 (5) in order for the circulation of $1 coins to 

9 achieve maximum potential— 

10 (A) the coins should be as attractive as 

11 possible; and 

12 (B) the Director of the United States Mint 

13 should take all reasonable steps to ensure that 

14 all $1 coins minted and issued remain tarnish15 free for as long as possible without incurring 

16 undue expense; and 

17 (6) if the Secretary of the Treasury determines 

18 to include on any $1 coin minted under section 102 

19 of this Act a mark denoting the United States Mint 

20 facility at which the coin was struck, such mark 

21 should be edge-incused. 
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1 TITLE II—BUFFALO GOLD 

2 BULLION COINS 

3 SEC. 201. GOLD BULLION COINS. 

4 Section 5112 of title 31, United States Code, is 

5 amended— 

6 (1) in subsection (a), by adding at the end the 

7 following: 

8 ‘‘(11) A $20 gold coin that is of an appropriate 

9 size and thickness, as determined by the Secretary, 

10 weighs 1 ounce, and contains 99.99 percent pure 

11 gold.’’; and 

12 (2) by adding at the end, the following: 

13 ‘‘(q) GOLD BULLION COINS.— 

14 ‘‘(1) IN GENERAL.—Not later than 6 months 

15 after the date of enactment of the Presidential $1 

16 Coin Act of 2005, the Secretary shall commence 

17 striking and issuing for sale such number of $20 

18 gold bullion coins as the Secretary may determine to 

19 be appropriate, not to exceed 500,000 in any year. 

20 ‘‘(2) INITIAL DESIGN.— 

21 ‘‘(A) IN GENERAL.—Except as provided 

22 under subparagraph (B), the obverse and re23 verse of the gold bullion coins struck under this 

24 subsection during the first year of issuance 

25 shall bear the original designs by James Earle 
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1 Fraser, which appear on the 5-cent coin com2 monly referred to as the ‘Buffalo nickel’ or the 

3 ‘1913 Type 1’. 

4 ‘‘(B) VARIATIONS.—The coins referred to 

5 in subparagraph (A) shall— 

6 ‘‘(i) have inscriptions of the weight of 

7 the coin and the nominal denomination of 

8 the coin incused in that portion of the de9 sign on the reverse of the coin commonly 

10 known as the ‘grassy mound’; and 

11 ‘‘(ii) bear such other inscriptions as 

12 the Secretary determines to be appropriate. 

13 ‘‘(3) SUBSEQUENT DESIGNS.—After the 1-year 

14 period described to in paragraph (2), the Secretary 

15 may— 

16 ‘‘(A) after consulting with the Commission 

17 of Fine Arts, and subject to the review of the 

18 Citizens Coinage Advisory Committee, change 

19 the design on the obverse or reverse of gold bul20 lion coins struck under this subsection; and 

21 ‘‘(B) change the maximum number of 

22 coins issued in any year. 

23 ‘‘(4) SOURCE OF GOLD BULLION.— 

24 ‘‘(A) IN GENERAL.—The Secretary shall 

25 acquire gold for the coins issued under this sub-
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1 section by purchase of gold mined from natural 

2 deposits in the United States, or in a territory 

3 or possession of the United States, within 1 

4 year after the month in which the ore from 

5 which it is derived was mined. 

6 ‘‘(B) PRICE OF GOLD.—The Secretary 

7 shall pay not more than the average world price 

8 for the gold mined under subparagraph (A). 

9 ‘‘(5) SALE OF COINS.—Each gold bullion coin 

10 issued under this subsection shall be sold for an 

11 amount the Secretary determines to be appropriate, 

12 but not less than the sum of— 

13 ‘‘(A) the face value of the coins; and 

14 ‘‘(B) the cost of designing and issuing the 

15 coins, including labor, materials, dies, use of 

16 machinery, overhead expenses, marketing, and 

17 shipping. 

18 ‘‘(6) LEGAL TENDER.—The coins minted under 

19 this title shall be legal tender, as provided in section 

20 5103. 

21 ‘‘(7) TREATMENT AS NUMISMATIC ITEMS.—For 

22 purposes of section 5134 and 5136, all coins minted 

23 under this subsection shall be considered to be nu24 mismatic items.’’. 
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1 TITLE III—ABRAHAM LINCOLN 

2 BICENTENNIAL 1-CENT COIN 

3 REDESIGN 

4 SEC. 301. FINDINGS. 

5 Congress finds the following: 

6 (1) Abraham Lincoln, the 16th President, was 

7 one of the Nation’s greatest leaders, demonstrating 

8 true courage during the Civil War, one of the great9 est crises in the Nation’s history. 

10 (2) Born of humble roots in Hardin County 

11 (present-day LaRue County), Kentucky, on Feb12 ruary 12, 1809, Abraham Lincoln rose to the Presi13 dency through a combination of honesty, integrity, 

14 intelligence, and commitment to the United States. 

15 (3) With the belief that all men are created 

16 equal, Abraham Lincoln led the effort to free all 

17 slaves in the United States. 

18 (4) Abraham Lincoln had a generous heart, 

19 with malice toward none, and with charity for all. 

20 (5) Abraham Lincoln gave the ultimate sacrifice 

21 for the country he loved, dying from an assassin’s 

22 bullet on April 15, 1865. 

23 (6) All Americans could benefit from studying 

24 the life of Abraham Lincoln, for Lincoln’s life is a 

25 model for accomplishing the ‘‘American dream’’ 
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1 through honesty, integrity, loyalty, and a lifetime of 

2 education. 

3 (7) The year 2009 will be the bicentennial anni4 versary of the birth of Abraham Lincoln. 

5 (8) Abraham Lincoln was born in Kentucky, 

6 grew to adulthood in Indiana, achieved fame in Illi7 nois, and led the nation in Washington, D.C. 

8 (9) The so-called ‘‘Lincoln cent’’ was introduced 

9 in 1909 on the 100th anniversary of Lincoln’s birth, 

10 making the obverse design the most enduring on the 

11 nation’s coinage. 

12 (10) President Theodore Roosevelt was so im13 pressed by the talent of Victor David Brenner that 

14 the sculptor was chosen to design the likeness of 

15 President Lincoln for the coin, adapting a design 

16 from a plaque Brenner had prepared earlier. 

17 (11) In the nearly 100 years of production of 

18 the ‘‘Lincoln cent’’, there have been only 2 designs 

19 on the reverse: the original, featuring 2 wheat-heads 

20 in memorial style enclosing mottoes, and the current 

21 representation of the Lincoln Memorial in Wash22 ington, D.C. 

23 (12) On the occasion of the bicentennial of 

24 President Lincoln’s birth and the 100th anniversary 

25 of the production of the Lincoln cent, it is entirely 
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1 fitting to issue a series of 1-cent coins with designs 

2 on the reverse that are emblematic of the 4 major 

3 periods of President Lincoln’s life. 

4 SEC. 302. REDESIGN OF LINCOLN CENT FOR 2009. 

5 (a) IN GENERAL.—During the year 2009, the Sec6 retary of the Treasury shall issue 1-cent coins in accord7 ance with the following design specifications: 

8 (1) OBVERSE.—The obverse of the 1-cent coin 

9 shall continue to bear the Victor David Brenner like10 ness of President Abraham Lincoln. 

11 (2) REVERSE.—The reverse of the coins shall 

12 bear 4 different designs each representing a dif13 ferent aspect of the life of Abraham Lincoln, such 

14 as— 

15 (A) his birth and early childhood in Ken16 tucky; 

17 (B) his formative years in Indiana; 

18 (C) his professional life in Illinois; and 

19 (D) his presidency, in Washington, D.C. 

20 (b) ISSUANCE OF REDESIGNED LINCOLN CENTS IN

21 2009.— 

22 (1) ORDER.—The 1-cent coins to which this 

23 section applies shall be issued with 1 of the 4 de24 signs referred to in subsection (a)(2) beginning at 

25 the start of each calendar quarter of 2009. 
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1 (2) NUMBER.—The Secretary shall prescribe, 

2 on the basis of such factors as the Secretary deter3 mines to be appropriate, the number of 1-cent coins 

4 that shall be issued with each of the designs selected 

5 for each calendar quarter of 2009. 

6 (c) DESIGN SELECTION.—The designs for the coins 

7 specified in this section shall be chosen by the Secretary— 

8 (1) after consultation with the Abraham Lin9 coln Bicentennial Commission and the Commission 

10 of Fine Arts; and 

11 (2) after review by the Citizens Coinage Advi12 sory Committee. 

13 SEC. 303. REDESIGN OF REVERSE OF 1-CENT COINS AFTER 

14 2009. 

15 The design on the reverse of the 1-cent coins issued 

16 after December 31, 2009, shall bear an image emblematic 

17 of President Lincoln’s preservation of the United States 

18 of America as a single and united country. 

19 SEC. 304. NUMISMATIC PENNIES WITH THE SAME METAL20 LIC CONTENT AS THE 1909 PENNY. 

21 The Secretary of the Treasury shall issue 1-cent coins 

22 in 2009 with the exact metallic content as the 1-cent coin 

23 contained in 1909 in such number as the Secretary deter24 mines to be appropriate for numismatic purposes 
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1 SEC. 305. SENSE OF THE CONGRESS. 

2 It is the sense of the Congress that the original Victor 

3 David Brenner design for the 1-cent coin was a dramatic 

4 departure from previous American coinage that should be 

5 reproduced, using the original form and relief of the like6 ness of Abraham Lincoln, on the 1-cent coins issued in 

7 2009.

Æ