109TH CONGRESS

1ST SESSION S. 1047

AN ACT

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’’.
 †

2

S 1047 ES

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.
†

3

S 1047 ES

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
†

4

S 1047 ES

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.
†

5

S 1047 ES

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 PROVISIONS.—

22 ‘‘(i) IN GENERAL.—Notwithstanding

23 subparagraph (A), the Secretary shall con24 tinue to mint and issue $1 coins which

25 bear any design in effect before the

26 issuance of coins as required under this
†

6

S 1047 ES

1 subsection (including the so-called

2 ‘Sacagawea-design’ $1 coins).

3 ‘‘(ii) CIRCULATION QUANTITY.—Be4 ginning January 1, 2007, and ending upon

5 the termination of the program under

6 paragraph (8), the Secretary annually shall

7 mint and issue such ‘Sacagawea-design’ $1

8 coins for circulation in quantities of no less

than 1 9 ⁄3 of the total $1 coins minted and

10 issued under this subsection.’’.

11 ‘‘(2) DESIGN REQUIREMENTS.—The $1 coins

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

13 meet the following design requirements:

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

15 reverse shall bear—

16 ‘‘(i) a likeness of the Statue of Lib17 erty extending to the rim of the coin and

18 large enough to provide a dramatic rep19 resentation of Liberty while not being large

20 enough to create the impression of a ‘2-

21 headed’ coin;

22 ‘‘(ii) the inscription ‘$1’ ; and

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

24 America’.
†

7

S 1047 ES

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

2 obverse shall contain—

3 ‘‘(i) the name and likeness of a Presi4 dent of the United States; and

5 ‘‘(ii) basic information about the

6 President, including—

7 ‘‘(I) the dates or years of the

8 term of office of such President; and

9 ‘‘(II) a number indicating the

10 order of the period of service in which

11 the President served.

12 ‘‘(C) EDGE-INCUSED INSCRIPTIONS.—

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

14 the year of minting or issuance of the coin

15 and the inscriptions ‘E Pluribus Unum’

16 and ‘In God We Trust’ shall be edge17 incused into the coin.

18 ‘‘(ii) PRESERVATION OF DISTINCTIVE

19 EDGE.—The edge-incusing of the inscrip20 tions under clause (i) on coins issued

21 under this subsection shall be done in a

22 manner that preserves the distinctive edge

23 of the coin so that the denomination of the

24 coin is readily discernible, including by in-
†

8

S 1047 ES

1 dividuals who are blind or visually im2 paired.

3 ‘‘(D) INSCRIPTIONS OF ‘LIBERTY’.—Not4 withstanding the second sentence of subsection

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

6 likeness of the Statue of Liberty on the reverse

7 of the coins issued under this subsection ade8 quately conveys the concept of Liberty, the in9 scription of ‘Liberty’ shall not appear on the

10 coins.

11 ‘‘(E) LIMITATION IN SERIES TO DECEASED

12 PRESIDENTS.—No coin issued under this sub13 section may bear the image of a living former

14 or current President, or of any deceased former

15 President during the 2-year period following the

16 date of the death of that President.

17 ‘‘(3) ISSUANCE OF COINS COMMEMORATING

18 PRESIDENTS.—

19 ‘‘(A) ORDER OF ISSUANCE.—The coins

20 issued under this subsection commemorating

21 Presidents of the United States shall be issued

22 in the order of the period of service of each

23 President, beginning with President George

24 Washington.
†

9

S 1047 ES

1 ‘‘(B) TREATMENT OF PERIOD OF SERV2 ICE.—

3 ‘‘(i) IN GENERAL.—Subject to clause

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

5 a period of service for any President, no

6 matter how many consecutive terms of of7 fice the President served.

8 ‘‘(ii) NONCONSECUTIVE TERMS.—If a

9 President has served during 2 or more

10 nonconsecutive periods of service, a coin

11 shall be issued under this subsection for

12 each such nonconsecutive period of service.

13 ‘‘(4) ISSUANCE OF COINS COMMEMORATING 4

14 PRESIDENTS DURING EACH YEAR OF THE PERIOD.—

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

16 $1 coins issued during each year of the period

17 referred to in paragraph (1) shall be emblem18 atic of 4 Presidents until each President has

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

20 ‘‘(B) NUMBER OF 4 CIRCULATING COIN

21 DESIGNS IN EACH YEAR.—The Secretary shall

22 prescribe, on the basis of such factors as the

23 Secretary determines to be appropriate, the

24 number of $1 coins that shall be issued with
†

10

S 1047 ES

1 each of the designs selected for each year of the

2 period referred to in paragraph (1).

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

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

5 5103.

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

7 purposes of section 5134 and 5136, all coins minted

8 under this subsection shall be considered to be nu9 mismatic items.

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

11 Secretary may mint and issue such number of $1

12 coins of each design selected under this subsection

13 in uncirculated and proof qualities as the Secretary

14 determines to be appropriate.

15 ‘‘(8) TERMINATION OF PROGRAM.—The

16 issuance of coins under this subsection shall termi17 nate when each President has been so honored, sub18 ject to paragraph (2)(E), and may not be resumed

19 except by an Act of Congress.

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

21 Upon the termination of the issuance of coins under

22 this subsection, the design of all $1 coins shall re23 vert to the so-called ‘Sacagawea-design’ $1 coins.’’.
†

11

S 1047 ES

1 SEC. 103. FIRST SPOUSE BULLION COIN PROGRAM.

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

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

4 the following:

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

6 ‘‘(1) IN GENERAL.—During the same period de7 scribed in subsection (n), the Secretary shall issue

8 bullion coins under this subsection that are emblem9 atic of the spouse of each such President.

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

11 this subsection shall—

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

13 coins described in subsection (n);

14 ‘‘(B) weigh 0.5 ounce; and

15 ‘‘(C) contain 99.99 percent pure gold.

16 ‘‘(3) DESIGN REQUIREMENTS.—

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

18 obverse of each coin issued under this sub19 section shall contain—

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

21 who was a spouse of a President during

22 the President’s period of service;

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

24 which such person was the spouse of a

25 President during the President’s period of

26 service; and
†

12

S 1047 ES

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

2 the period of service in which such Presi3 dent served.

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

5 reverse of each coin issued under this sub6 section shall bear—

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

8 work of the First Spouse whose image is

9 borne on the obverse; and

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

11 America’.

12 ‘‘(C) DESIGNATED DENOMINATION.—Each

13 coin issued under this subsection shall bear, on

14 the reverse, an inscription of the nominal de15 nomination of the coin which shall be ‘$10’.

16 ‘‘(D) DESIGN IN CASE OF NO FIRST

17 SPOUSE.—In the case of any President who

18 served without a spouse—

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

20 bullion coin corresponding to the $1 coin

21 relating to such President shall be an

22 image emblematic of the concept of

23 ‘Liberty’—
†

13

S 1047 ES

1 ‘‘(I) as represented on a United

2 States coin issued during the period

3 of service of such President; or

4 ‘‘(II) as represented, in the case

5 of President Chester Alan Arthur, by

6 a design incorporating the name and

7 likeness of Alice Paul, a leading strat8 egist in the suffrage movement, who

9 was instrumental in gaining women

10 the right to vote upon the adoption of

11 the 19th amendment and thus the

12 ability to participate in the election of

13 future Presidents, and who was born

14 on January 11, 1885, during the term

15 of President Arthur; and

16 ‘‘(ii) the reverse of such bullion coin

17 shall be of a design representative of

18 themes of such President, except that in

19 the case of the bullion coin referred to in

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

21 be representative of the suffrage move22 ment.

23 ‘‘(E) DESIGN AND COIN FOR EACH

24 SPOUSE.—A separate coin shall be designed and

25 issued under this section for each person who
†

14

S 1047 ES

1 was the spouse of a President during any por2 tion of a term of office of such President.

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

4 issued under this subsection shall bear the in5 scription of the year of minting or issuance of

6 the coin and such other inscriptions as the Sec7 retary may determine to be appropriate.

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

9 coin issued under this subsection shall be sold by the

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

11 the sum of—

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

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

14 coins (including labor, materials, dies, use of

15 machinery, overhead expenses, marketing, and

16 shipping).

17 ‘‘(5) ISSUANCE OF COINS COMMEMORATING

18 FIRST SPOUSES.—

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

20 issued under this subsection with respect to any

21 spouse of a President shall be issued on the

22 same schedule as the $1 coin issued under sub23 section (n) with respect to each such President.
†

15

S 1047 ES

1 ‘‘(B) MAXIMUM NUMBER OF BULLION

2 COINS FOR EACH DESIGN.—The Secretary

3 shall—

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

5 factors as the Secretary determines to be

6 appropriate, the maximum number of bul7 lion coins that shall be issued with each of

8 the designs selected under this subsection;

9 and

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

11 the bullion coins of each such design, the

12 maximum number of bullion coins of that

13 design that will be issued.

14 ‘‘(C) TERMINATION OF PROGRAM.—No

15 bullion coin may be issued under this subsection

16 after the termination, in accordance with sub17 section (n)(8), of the $1 coin program estab18 lished under subsection (n).

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

20 minted under this Act shall be issued in both proof

21 and uncirculated qualities.

22 ‘‘(7) SOURCE OF GOLD BULLION.—

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

24 acquire gold for the coins issued under this sub25 section by purchase of gold mined from natural
†

16

S 1047 ES

1 deposits in the United States, or in a territory

2 or possession of the United States, within 1

3 year after the month in which the ore from

4 which it is derived was mined.

5 ‘‘(B) PRICE OF GOLD.—The Secretary

6 shall pay not more than the average world price

7 for the gold mined under subparagraph (A).

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

9 strike and sell bronze medals that bear the likeness

10 of the bullion coins authorized under this subsection,

11 at a price, size, and weight, and with such inscrip12 tions, as the Secretary determines to be appropriate.

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

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

15 5103.

16 ‘‘(10) TREATMENT AS NUMISMATIC ITEMS.—

17 For purposes of section 5134 and 5136, all coins

18 minted under this subsection shall be considered to

19 be numismatic items.’’.

20 SEC. 104. REMOVAL OF BARRIERS TO CIRCULATION.

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

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

23 the following:

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

25 COIN.—
†

17

S 1047 ES

1 ‘‘(1) ACCEPTANCE BY AGENCIES AND INSTRU2 MENTALITIES.—Beginning January 1, 2006, all

3 agencies and instrumentalities of the United States,

4 the United States Postal Service, all non5 appropriated fund instrumentalities established

6 under title 10, United States Code, all transit sys7 tems that receive operational subsidies or any dis8 bursement of funds from the Federal Government,

9 such as funds from the Federal Highway Trust

10 Fund, including the Mass Transit Account, and all

11 entities that operate any business, including vending

12 machines, on any premises owned by the United

13 States or under the control of any agency or instru14 mentality of the United States, including the legisla15 tive and judicial branches of the Federal Govern16 ment, shall take such action as may be appropriate

17 to ensure that by the end of the 2-year period begin18 ning on such date—

19 ‘‘(A) any business operations conducted by

20 any such agency, instrumentality, system, or

21 entity that involve coins or currency will be

22 fully capable of accepting and dispensing $1

23 coins in connection with such operations; and

24 ‘‘(B) displays signs and notices denoting

25 such capability on the premises where coins or
†

18

S 1047 ES

1 currency are accepted or dispensed, including

2 on each vending machine.

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

4 States Mint, shall work closely with consumer

5 groups, media outlets, and schools to ensure an ade6 quate amount of news coverage, and other means of

7 increasing public awareness, of the inauguration of

8 the Presidential $1 Coin Program established in

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

10 availability of the coin.

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

12 of the Federal Reserve System and the Secretary

13 shall take steps to ensure that an adequate supply

14 of $1 coins is available for commerce and collectors

15 at such places and in such quantities as are appro16 priate by—

17 ‘‘(A) consulting, to accurately gauge de18 mand for coins and to anticipate and eliminate

19 obstacles to the easy and efficient distribution

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

21 circulating coins, from time to time but no less

22 frequently than annually, with a coin users

23 group, which may include—
†

19

S 1047 ES

1 ‘‘(i) representatives of merchants who

2 would benefit from the increased usage of

3 $1 coins;

4 ‘‘(ii) vending machine and other coin

5 acceptor manufacturers;

6 ‘‘(iii) vending machine owners and op7 erators;

8 ‘‘(iv) transit officials;

9 ‘‘(v) municipal parking officials;

10 ‘‘(vi) depository institutions;

11 ‘‘(vii) coin and currency handlers;

12 ‘‘(viii) armored-car operators;

13 ‘‘(ix) car wash operators; and

14 ‘‘(x) coin collectors and dealers;

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

16 Congress containing—

17 ‘‘(i) an assessment of the remaining

18 obstacles to the efficient and timely cir19 culation of coins, particularly $1 coins;

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

21 which the goals of subparagraph (C) are

22 being met; and

23 ‘‘(iii) such recommendations for legis24 lative action the Board and the Secretary

25 may determine to be appropriate;
†

20

S 1047 ES

1 ‘‘(C) consulting with industry representa2 tives to encourage operators of vending ma3 chines and other automated coin-accepting de4 vices in the United States to accept coins issued

5 under the Presidential $1 Coin Program estab6 lished under subsection (n) and any coins bear7 ing any design in effect before the issuance of

8 coins required under subsection (n) (including

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

10 to include notices on the machines and devices

11 of such acceptability;

12 ‘‘(D) ensuring that—

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

14 institutions that want unmixed supplies of

15 each newly-issued design of $1 coins mint16 ed under subsections (n) and (o) are able

17 to obtain such unmixed supplies; and

18 ‘‘(ii) circulating coins will be available

19 for ordinary commerce in packaging of

20 sizes and types appropriate for and useful

21 to ordinary commerce, including rolled

22 coins;

23 ‘‘(E) working closely with any agency, in24 strumentality, system, or entity referred to in
†

21

S 1047 ES

1 paragraph (1) to facilitate compliance with the

2 requirements of such paragraph; and

3 ‘‘(F) identifying, analyzing, and over4 coming barriers to the robust circulation of $1

5 coins minted under subsections (n) and (o), in6 cluding the use of demand prediction, improved

7 methods of distribution and circulation, and im8 proved public education and awareness cam9 paigns.

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

11 United States Mint shall take all steps necessary to

12 ensure that a maximum number of reputable, reli13 able, and responsible dealers are qualified to offer

14 for sale all bullion coins struck and issued by the

15 United States Mint.

16 ‘‘(5) REVIEW OF CO-CIRCULATION.—At such

17 time as the Secretary determines to be appropriate,

18 and after consultation with the Board of Governors

19 of the Federal Reserve System, the Secretary shall

20 notify the Congress of its assessment of issues re21 lated to the co-circulation of any circulating $1 coin

22 bearing any design, other than the so-called

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

24 issuance of coins required under subsection (n), in25 cluding the effect of co-circulation on the acceptance
†

22

S 1047 ES

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

2 the Congress for improving the circulation of $1

3 coins.’’.

4 SEC. 105. SENSE OF THE CONGRESS.

5 It is the sense of the Congress that—

6 (1) the enactment of this Act will serve to in7 crease the use of $1 coins generally, which will in8 crease the circulation of the so-called ‘‘Sacagawea9 design’’ $1 coins that have been and will continue to

10 be minted and issued;

11 (2) the continued minting and issuance of the

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

13 a lasting tribute to the role of women and Native

14 Americans in the history of the United States;

15 (3) the full circulation potential and cost-sav16 ings benefit projections for the $1 coins are not like17 ly to be achieved unless the coins are delivered in

18 ways useful to ordinary commerce;

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

20 should not be introduced with an overly expensive

21 taxpayer-funded public relations campaign;

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

23 achieve maximum potential—

24 (A) the coins should be as attractive as

25 possible; and
†

23

S 1047 ES

1 (B) the Director of the United States Mint

2 should take all reasonable steps to ensure that

3 all $1 coins minted and issued remain tarnish4 free for as long as possible without incurring

5 undue expense; and

6 (6) if the Secretary of the Treasury determines

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

8 of this Act a mark denoting the United States Mint

9 facility at which the coin was struck, such mark

10 should be edge-incused.

11 TITLE II—BUFFALO GOLD

12 BULLION COINS

13 SEC. 201. GOLD BULLION COINS.

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

15 amended—

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

17 following:

18 ‘‘(11) A $50 gold coin that is of an appropriate

19 size and thickness, as determined by the Secretary,

20 weighs 1 ounce, and contains 99.99 percent pure

21 gold.’’; and

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

23 ‘‘(q) GOLD BULLION COINS.—

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

25 after the date of enactment of the Presidential $1
†

24

S 1047 ES

1 Coin Act of 2005, the Secretary shall commence

2 striking and issuing for sale such number of $50

3 gold bullion and proof coins as the Secretary may

4 determine to be appropriate, in such quantities, as

5 the Secretary, in the Secretary’s discretion, may pre6 scribe.

7 ‘‘(2) INITIAL DESIGN.—

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

9 under subparagraph (B), the obverse and re10 verse of the gold bullion coins struck under this

11 subsection during the first year of issuance

12 shall bear the original designs by James Earle

13 Fraser, which appear on the 5-cent coin com14 monly referred to as the ‘Buffalo nickel’ or the

15 ‘1913 Type 1’.

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

17 in subparagraph (A) shall—

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

19 the coin and the nominal denomination of

20 the coin incused in that portion of the de21 sign on the reverse of the coin commonly

22 known as the ‘grassy mound’; and

23 ‘‘(ii) bear such other inscriptions as

24 the Secretary determines to be appropriate.
†

25

S 1047 ES

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

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

3 may—

4 ‘‘(A) after consulting with the Commission

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

6 Citizens Coinage Advisory Committee, change

7 the design on the obverse or reverse of gold bul8 lion coins struck under this subsection; and

9 ‘‘(B) change the maximum number of

10 coins issued in any year.

11 ‘‘(4) SOURCE OF GOLD BULLION.—

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

13 acquire gold for the coins issued under this sub14 section by purchase of gold mined from natural

15 deposits in the United States, or in a territory

16 or possession of the United States, within 1

17 year after the month in which the ore from

18 which it is derived was mined.

19 ‘‘(B) PRICE OF GOLD.—The Secretary

20 shall pay not more than the average world price

21 for the gold mined under subparagraph (A).

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

23 issued under this subsection shall be sold for an

24 amount the Secretary determines to be appropriate,

25 but not less than the sum of—
†

26

S 1047 ES

1 ‘‘(A) the market value of the bullion at the

2 time of sale; and

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

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

5 machinery, overhead expenses, marketing, and

6 shipping.

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

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

9 5103.

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

11 purposes of section 5134 and 5136, all coins minted

12 under this subsection shall be considered to be nu13 mismatic items.’’.

14 ‘‘(8) PROTECTIVE COVERING.—

15 ‘‘(A) IN GENERAL.—Each bullion coin hav16 ing a metallic content as described in subsection

17 (a)(11) and a design specified in paragraph (2)

18 shall be sold in an inexpensive covering that will

19 protect the coin from damage due to ordinary

20 handling or storage.

21 ‘‘(B) DESIGN.—The protective covering re22 quired under subparagraph (A) shall be readily

23 distinguishable from any coin packaging that

24 may be used to protect proof coins minted and

25 issued under this subsection.’’.
†

27

S 1047 ES

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’’
†

28

S 1047 ES

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
†

29

S 1047 ES

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.
†

30

S 1047 ES

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
†

31

S 1047 ES

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.

Passed the Senate November 18, 2005.

Attest:

Secretary.
109TH CONGRESS

1ST SESSION S. 1047

AN ACT

To require the Secretary of the Treasury to mint

new bullion coin, and for other purposes.improve circulation of the $1 coin, to create apast Presidents and their spouses, respectively, tocoins in commemoration of each of the Nation’s