Calendar No. 234

103D CONGRESS

1ST SESSION S. 1111

A BILL

To authorize the minting of coins to commemorate

D.C.the Vietnam Veterans Memorial in Washington,

OCTOBER 18 (legislative day, OCTOBER 13), 1993

Reported without amendment
II

Calendar No. 234

103D CONGRESS

1ST SESSION S. 1111

To authorize the minting of coins to commemorate the Vietnam Veterans

Memorial in Washington, D.C.

IN THE SENATE OF THE UNITED STATES

JUNE 5, 1993

Mr. KERREY (for himself, Mr. MCCAIN, Mr. KERRY, Mr. GRASSLEY, Mr.

BRYAN, Mr. ROBB, Mr. BUMPERS, Mr. KOHL, Mr. DECONCINI, Mr.

LUGAR, Mr. D’AMATO, Mr. DURENBERGER, Mr. CRAIG, Mr. MITCHELL,

Mr. INOUYE, Mr. CAMPBELL, Mr. SIMON, Mr. COATS, Mr. COCHRAN, Mr.

DANFORTH, Mr. LEVIN, Mr. BOREN, Ms. MOSELEY-BRAUN, Mr. BROWN,

Mr. CHAFEE, Mr. DASCHLE, Mr. PRESSLER, Mr. RIEGLE, Mr.

WELLSTONE, Mr. STEVENS, Mr. LOTT, Mr. HOLLINGS, Mr. MURKOWSKI,

Mr. BINGAMAN, Mr. HEFLIN, Mr. EXON, Mr. KENNEDY, Mr. PELL, Mr.

THURMOND, Mr. REID, Mr. WALLOP, Mr. GORTON, Mr. BYRD, Mr. SASSER, Mr. SMITH, Mr. NUNN, Mr. SARBANES, Mr. SIMPSON, Mr. HARKIN,

Mr. ROCKEFELLER, Mr. FEINGOLD, Mr. GRAMM, Mr. DODD, Mr.

MATHEWS, Mr. DOLE, Mr. COHEN, Ms. MIKULSKI, Mr. PRYOR, Mr.

SPECTER, Mr. WARNER, Mr. MOYNIHAN, Mr. DORGAN, Mr. AKAKA, Mrs.

MURRAY, Mrs. BOXER, Mr. LAUTENBERG, Mr. LIEBERMAN, Mr. JOHNSTON, Mrs. FEINSTEIN, Mr. CONRAD, and Mr. HELMS) introduced the

following bill; which was read twice and referred to the Committee on

Banking, Housing, and Urban Affairs

OCTOBER 18 (legislative day, OCTOBER 13), 1993

Reported by Mr. RIEGLE, without amendment

A BILL

To authorize the minting of coins to commemorate the

Vietnam Veterans Memorial in Washington, D.C.
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•S 1111 RS

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 ‘‘Vietnam Veterans

5 Memorial Commemorative Coin Act of 1994’’.

6 SEC. 2. COIN SPECIFICATIONS.

7 (a) ONE DOLLAR SILVER COINS.—

8 (1) ISSUANCE.—The Secretary of the Treasury

9 (hereafter in this Act referred to as the ‘‘Secretary’’)

10 shall issue not more than 500,000 $1 coins, which

11 shall weigh 26.73 grams, have a diameter of 1.500

12 inches, and shall contain 90 percent silver and 10

13 percent copper.

14 (2) DESIGN.—The design of the coins issued

15 under this Act shall be emblematic of the Vietnam

16 Veterans Memorial in Washington, D.C. On each

17 such coin there shall be a designation of the value

18 of the coin, an inscription of the year ‘‘1994’’, and

19 inscriptions of the words ‘‘Liberty’’, ‘‘In God We

20 Trust’’, ‘‘United States of America’’, and ‘‘E

21 Pluribus Unum’’.

22 (b) LEGAL TENDER.—The coins issued under this

23 Act shall be legal tender as provided in section 5103 of

24 title 31, United States Code.
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1 SEC. 3. SOURCES OF BULLION.

2 The Secretary shall obtain silver for the coins minted

3 under this Act only from stockpiles established under the

4 Strategic and Critical Materials Stock Piling Act.

5 SEC. 4. SELECTION OF DESIGN.

6 The design for the coins authorized by this Act shall

7 be selected by the Secretary after consultation with the

8 Vietnam Veterans Memorial Fund and the Commission of

9 Fine Arts. As required by section 5135 of title 31, United

10 States Code, the design shall also be reviewed by the Citi11 zens Commemorative Coin Advisory Committee.

12 SEC. 5. ISSUANCE OF THE COINS.

13 (a) QUALITY OF COINS.—The coins authorized under

14 this Act may be issued in uncirculated and proof qualities.

15 (b) MINT FACILITY.—Not more than 1 facility of the

16 United States Mint may be used to strike any particular

17 quality of the coins minted under this Act.

18 (c) SUNSET PROVISION.—No coins shall be minted

19 under this Act after April 1, 1995.

20 SEC. 6. SALE OF THE COINS.

21 (a) SALE PRICE.—The coins issued under this Act

22 shall be sold by the Secretary at a price equal to the sum

23 of the face value of the coins, the surcharge provided in

24 subsection (d) with respect to such coins, and the cost of

25 designing and issuing such coins (including labor, mate-
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•S 1111 RS

1 rials, dies, use of machinery, overhead expenses, market2 ing, and shipping).

3 (b) BULK SALES.—The Secretary shall make bulk

4 sales at a reasonable discount.

5 (c) PREPAID ORDERS.—The Secretary shall accept

6 prepaid orders for the coins authorized under this Act

7 prior to the issuance of such coins. Sales under this sub8 section shall be at a reasonable discount.

9 (d) SURCHARGE REQUIRED.—All sales shall include

10 a surcharge of $10 per coin.

11 SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULA12 TIONS.

13 No provision of law governing procurement or public

14 contracts shall be applicable to the procurement of goods

15 or services necessary for carrying out the provisions of this

16 Act. Nothing in this section shall relieve any person enter17 ing into a contract under the authority of this Act from

18 complying with any law relating to equal employment

19 opportunity.

20 SEC. 8. DISTRIBUTION OF SURCHARGES.

21 The total surcharges collected by the Secretary from

22 the sale of the coins issued under this Act shall be prompt23 ly paid by the Secretary to the Vietnam Veterans Memo24 rial Fund to assist the Vietnam Veterans Memorial Fund’s

25 efforts to raise an endowment to be a permanent source
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1 of support for the repair, maintenance, and the addition

2 of the names of veterans to the Vietnam Veterans

3 Memorial.

4 SEC. 9. AUDITS.

5 The Comptroller General of the United States shall

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

7 and other data of the Vietnam Veterans Memorial Fund

8 as may be related to the expenditure of amounts paid

9 under section 8.

10 SEC. 10. NUMISMATIC PUBLIC ENTERPRISE FUND.

11 The coins issued under this Act are subject to the

12 provisions of section 5134 of title 31, United States Code,

13 relating to the Numismatic Public Enterprise Fund.

14 SEC. 11. FINANCIAL ASSURANCES.

15 (a) NO NET COST TO THE GOVERNMENT.—The Sec16 retary shall take all actions necessary to ensure that the

17 issuance of the coins authorized by this Act shall result

18 in no net cost to the United States Government.

19 (b) ADEQUATE SECURITY FOR PAYMENT RE20 QUIRED.—No coin shall be issued under this Act unless

21 the Secretary has received—

22 (1) full payment therefor;

23 (2) security satisfactory to the Secretary to in24 demnify the United States for full payment; or
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1 (3) a guarantee of full payment satisfactory to

2 the Secretary from a depository institution whose

3 deposits are insured by the Federal Deposit Insur4 ance Corporation or the National Credit Union Ad5 ministration Board.