H. R. 2627

One Hundred Fourth Congress

of the

United States of America

AT THE FIRST SESSION

Begun and held at the City of Washington on Wednesday,

the fourth day of January, one thousand nine hundred and ninety-five

An Act

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

sesquicentennial of the founding of the Smithsonian Institution.

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 ‘‘Smithsonian Institution Sesqui- centennial Commemorative Coin Act of 1995’’.

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 in commemoration of the sesquicentennial of

the founding of the Smithsonian Institution: (1) $5 GOLD COINS.—Not more than 100,000 5 dollar 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 650,000 1 dollar 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) PLATINUM COINS.—The Secretary may mint and issue not more than 100,000 5 dollar platinum coins instead of the gold

coins required under subsection (a)(1) in accordance with such

specifications as the Secretary determines to be appropriate. (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 only from stockpiles established under the Strategic

and Critical Materials Stock Piling Act.

SEC. 4. DESIGN OF COINS.

(a) DESIGN REQUIREMENTS.—
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(1) IN GENERAL.—The design of the coins minted under this Act shall be emblematic of the scientific, educational, and

cultural significance and importance of the Smithsonian Institution.

(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 ‘‘1996’’;

(C) inscriptions of the words ‘‘Liberty’’, ‘‘In God We Trust’’, ‘‘United States of America’’, and ‘‘E Pluribus

Unum’’; and

(D) an inscription of the following phrase from the original bequest of James Smithson: ‘‘for the increase and

diffusion of knowledge’’. (b) SELECTION.—The design for the coins minted under this Act shall be—

(1) selected by the Secretary after consultation with the

Board of Regents of the Smithsonian Institution and the

Commission of Fine Arts; 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) MINT FACILITY.—Only 1 facility of the United States Mint

may be used to strike any particular combination of denomination

and quality of the coins minted under this Act.

(c) PERIOD FOR ISSUANCE.—The Secretary may issue coins

minted under this Act only during the 1-year period beginning

on August 1, 1996.

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 subsection (d) 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.

(d) SURCHARGES.—All sales shall include a surcharge of—

(1) $35 per coin for the $5 coin; and

(2) $10 per coin for the $1 coin.

SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

(a) IN GENERAL.—Except as provided in subsection (b), no provision of law governing procurement or public contracts shall be

applicable to the procurement of goods and services necessary for

carrying out the provisions of this Act.
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(b) EQUAL EMPLOYMENT OPPORTUNITY.—Subsection (a) shall

not relieve any person entering into a contract under the authority

of this Act from complying with any law relating to equal employment opportunity.

SEC. 8. DISTRIBUTION OF SURCHARGES.

(a) IN GENERAL.—All surcharges received by the Secretary from

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

by the Secretary to the Smithsonian Institution for the following

purposes:

(1) 85 percent of the amount transferred shall be available

for such purposes as the Board of Regents of the Smithsonian

Institution determines to be appropriate.

(2) 15 percent of the amount transferred shall be dedicated

to the support of the operation and activities of the National

Numismatic Collection at the National Museum of American

History.

(b) AUDITS.—The Comptroller General of the United States

shall have the right to examine such books, records, documents,

and other data of the Smithsonian Institution as may be related

to the expenditures of amounts paid under subsection (a).

SEC. 9. FINANCIAL ASSURANCES.

(a) NO NET COST TO THE GOVERNMENT.—The Secretary shall

take such actions as may be necessary to ensure that minting

and issuing coins under this Act will not result in any net cost

to the United States Government.

(b) PAYMENT FOR COINS.—A coin shall not be issued under

this Act unless the Secretary has received—

(1) full payment for the coin;

(2) security satisfactory to the Secretary to indemnify the

United States for full payment; or

(3) a guarantee of full payment satisfactory to the Secretary

from a depository institution whose deposits are insured by

the Federal Deposit Insurance Corporation or the National

Credit Union Administration Board.

Speaker of the House of Representatives.

Vice President of the United States and

President of the Senate.