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104TH CONGRESS

1ST SESSION H. R. 2018

To amend section 5112 of title 31, United States Code, to authorize the

Secretary of the Treasury to mint and issue platinum bullion coins

and to mint and issue more than 1 version of gold bullion coins at

the same time.

IN THE HOUSE OF REPRESENTATIVES

JULY 12, 1995

Mr. OLVER (for himself, Mr. DAVIS, Mr. GILMAN, Mr. PETE GEREN of Texas,

Mr. PAYNE of Virginia, Mr. MORAN, Mrs. KELLY, and Mr. SHAYS) introduced the following bill; which was referred to the Committee on Banking

and Financial Services

A BILL

To amend section 5112 of title 31, United States Code,

to authorize the Secretary of the Treasury to mint and

issue platinum bullion coins and to mint and issue more

than 1 version of gold bullion coins at the same time.

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 ‘‘United States Plati5 num and Gold Bullion Coin Act of 1995’’.
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1 SEC. 2. PLATINUM COINS.

2 (a) IN GENERAL.—Section 5112 of title 31, United

3 States Code, is amended by adding at the end the follow4 ing new subsection:

5 ‘‘(k) PLATINUM COINS.—

6 ‘‘(1) IN GENERAL.—Notwithstanding any other

7 provision of law, the Secretary of the Treasury may

8 mint and issue platinum coins in such quantity and

9 of such variety as the Secretary determines to be ap10 propriate.

11 ‘‘(2) SPECIFICATIONS.—Platinum coins minted

12 under this subsection shall meet such specifications

13 with respect to diameter, weight, design, and

14 fineness as the Secretary, in the Secretary’s discre15 tion, may prescribe from time to time.

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

17 this subsection shall be legal tender, as provided in

18 section 5103 of title 31, United States Code.

19 ‘‘(4) NUMISMATIC ITEMS.—For purposes of sec20 tion 5134 of title 31, United States Code, all coins

21 minted under this subsection shall be considered to

22 be numismatic items.

23 ‘‘(5) DESIGNATIONS AND INSCRIPTIONS.—On

24 each coin minted under this subsection, there shall

25 be—
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1 ‘‘(A) a designation of the value of the coin

2 and the weight of the platinum content of the

3 coin;

4 ‘‘(B) an inscription of the year in which

5 the coin is minted or issued; and

6 ‘‘(C) inscriptions of the words ‘Liberty’,

7 ‘In God We Trust’, ‘United States of America’,

8 and ‘E Pluribus Unum’.

9 ‘‘(6) SALE PRICE.—

10 ‘‘(A) BULLION.—The bullion versions of

11 the coins issued under this Act shall be sold by

12 the Secretary at a price equal to the sum of—

13 ‘‘(i) the market value of the coins at

14 the time of the sale; and

15 ‘‘(ii) the cost of minting, marketing,

16 and distributing the coins (including labor,

17 materials, dies, use of machinery, and pro18 motional and overhead expenses).

19 ‘‘(B) PROOF VERSIONS.—Proof versions of

20 the coins issued under this Act shall be sold by

21 the Secretary at a price equal to the sum of—

22 ‘‘(i) the cost of designing and issuing

23 the coins (including labor, materials, dies,

24 use of machinery, overhead expenses, mar25 keting, and shipping); and
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1 ‘‘(ii) a reasonable profit.

2 ‘‘(7) BULK SALES.—The Secretary may make

3 bulk sales of the coins issued under this subsection

4 at a reasonable discount.’’.

5 (b) TECHNICAL AND CONFORMING AMENDMENT.—

6 Section 5112(j)(1) of title 31, United States Code, is

7 amended by inserting ‘‘or (k)’’ after ‘‘subsection (e)’’.

8 SEC. 3. AMERICAN EAGLE GOLD COINS AUTHORIZED TO

9 BE PRODUCED IN 2 OR MORE DESIGNS,

10 WEIGHTS, DIAMETERS, OR FINENESSES

11 SIMULTANEOUSLY.

12 Section 5112(i)(4) of title 31, United States Code,

13 is amended by adding at the end the following new sub14 paragraph:

15 ‘‘(C) CONTINUED MINTING TO STATUTORY

16 SPECIFICATIONS AFTER DETERMINATION TO

17 MINT COINS TO CHANGED SPECIFICATIONS.—

18 Notwithstanding any other provision of this sec19 tion, the Secretary may continue to mint and

20 issue coins in accordance with the specifications

21 contained in paragraphs (7), (8), (9), and (10)

22 of subsection (a) and paragraph (1)(A) of this

23 subsection at the same time the Secretary is

24 minting and issuing other coins under this sub25 section in accordance with specifications adopt-
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1 ed by the Secretary pursuant to this para2 graph.’’.

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