I

103D CONGRESS

1ST SESSION H. R. 3492

To authorize the minting of coins to commemorate the 200th anniversary

of the founding of the United States Military Academy at West Point,

New York.

IN THE HOUSE OF REPRESENTATIVES

NOVEMBER 10, 1993

Mr. FISH (for himself, Mr. BILBRAY, Mr. COBLE, Mr. GILMAN, Mr. LANCASTER, Mr. LIPINSKI, Mr. HAYES, Mr. KING, Mr. PICKLE, Mr. REGULA, Mr. SHAYS, Mr. STOKES, Mr. TANNER, Mr. TEJEDA, Mr. WOLF,

Mr. YOUNG of Florida, Mr. MARTINEZ, Mr. NATCHER, Mr. BLILEY, Mr.

EDWARDS of Texas, Mr. LAZIO, Mr. SARPALIUS, Mr. FALEOMAVAEGA,

Mr. MCMILLAN, Mr. MCHUGH, Mr. LEVY, Mr. FROST, Mr. HORN, Mr.

HOBSON, Mr. MONTGOMERY, Mr. SOLOMON, Mr. MYERS of Indiana, Mr.

COLEMAN, Mr. HOCHBRUECKNER, Mr. GEKAS, Mr. TOWNS, Mr. SPENCE,

Mr. GILLMOR, Mr. UNDERWOOD, Mr. SKEEN, Mr. REED, Mr. SCOTT,

Mr. DELLUMS, Mr. WALSH, Mr. MOORHEAD, Mr. HUGHES, Mr. SWIFT,

Mr. SERRANO, Mr. SUNDQUIST, Mr. ACKERMAN, Mr. LAUGHLIN, Mr.

MCDERMOTT, Mr. APPLEGATE, and Ms. SLAUGHTER) introduced the following bill; which was referred to the Committee on Banking, Finance

and Urban Affairs

A BILL

To authorize the minting of coins to commemorate the 200th

anniversary of the founding of the United States Military

Academy at West Point, New York.

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

2 This Act may be cited as the ‘‘United States Military

3 Academy Bicentennial Commemorative Coin Act of

4 1993’’.

5 SEC. 2. COIN SPECIFICATIONS.

6 (a) FIVE DOLLAR GOLD COINS.—

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

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

9 shall issue not more than 50,000 $5 coins, which

10 shall weigh 8.359 grams, have a diameter of 0.850

11 inches, and shall contain 90 percent gold and 10

12 percent alloy.

13 (2) DESIGN.—The design of the $5 coins shall

14 be emblematic of the United States Military Acad15 emy and its motto ‘‘Duty, Honor, Country’’. On

16 each such coin there shall be a designation of the

17 value of the coin, an inscription of the year ‘‘2002’’,

18 and inscriptions of the words ‘‘Liberty’’, ‘‘In God

19 We Trust’’, ‘‘United States of America’’, and ‘‘E

20 Pluribus Unum’’.

21 (b) ONE DOLLAR SILVER COINS.—

22 (1) ISSUANCE.—The Secretary shall issue not

23 more than 250,000 $1 coins, which shall weigh

24 26.73 grams, have a diameter of 1.500 inches, and

25 shall contain 90 percent silver and 10 percent cop26 per.
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1 (2) DESIGN.—The design of the $1 coins shall

2 be emblematic of the United States Military Acad3 emy and its motto ‘‘Duty, Honor, Country’’. On

4 each such coin there shall be a designation of the

5 value of the coin, an inscription of the year ‘‘2002’’,

6 and inscriptions of the words ‘‘Liberty’’, ‘‘In God

7 We Trust’’, ‘‘United States of America’’, and ‘‘E

8 Pluribus Unum’’.

9 (c) HALF DOLLAR CLAD COINS.—

10 (1) ISSUANCE.—The Secretary shall issue not

11 more than 350,000 half dollar coins, each of which

12 shall weigh 11.34 grams, have a diameter of 1.205

13 inches; and be minted to the specifications for half

14 dollar coins contained in section 5112(b) of title 31,

15 United States Code.

16 (2) DESIGN.—The design of the half dollar

17 coins shall be emblematic of the United States Mili18 tary Academy and its motto ‘‘Duty, Honor, Coun19 try’’. On each such coin there shall be a designation

20 of the value of the coin, an inscription of the year

21 ‘‘2002’’, and inscriptions of the words ‘‘Liberty’’,

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

23 and ‘‘E Pluribus Unum’’.
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1 (d) LEGAL TENDER.—The coins issued under this

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

3 title 31, United States Code.

4 SEC. 3. SOURCES OF BULLION.

5 (a) SILVER BULLION.—The Secretary shall obtain

6 silver for the coins minted under this Act only from stock7 piles established under the Strategic and Critical Mate8 rials Stock Piling Act.

9 (b) GOLD BULLION.—The Secretary shall obtain gold

10 for the coins minted under this Act pursuant to the au11 thority of the Secretary under existing law.

12 SEC. 4. SELECTION OF DESIGN.

13 The design for each coin authorized by this Act shall

14 be selected by the Secretary after consultation with the

15 Commission of Fine Arts and the Bicentennial Steering

16 Group, Association of Graduates, United States Military

17 Academy. As required by section 5135 of title 31, United

18 States Code, the designs shall also be reviewed by the Citi19 zens Commemorative Coin Advisory Committee.

20 SEC. 5. ISSUANCE OF THE COINS.

21 (a) GOLD COINS.—The $5 coins authorized under

22 this Act may be issued in uncirculated and proof qualities

23 and shall be struck at the United States Bullion Deposi24 tory at West Point.
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1 (b) SILVER AND HALF DOLLAR COINS.—The $1

2 coins and the half dollar coins authorized under this Act

3 may be issued in uncirculated and proof qualities, except

4 that not more than 1 facility of the United States Mint

5 may be used to strike any particular combination of de6 nomination and quality.

7 (c) COMMENCEMENT OF ISSUANCE.—The coins au8 thorized under this Act shall be available for issue not

9 later than March 16, 2002.

10 (d) SUNSET PROVISION.—No coins shall be minted

11 under this Act after December 31, 2002.

12 SEC. 6. SALE OF THE COINS.

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

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

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

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

17 designing and issuing such coins (including labor, mate18 rials, dies, use of machinery, overhead expenses, market19 ing, and shipping).

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

21 sales at a reasonable discount.

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

23 prepaid orders for the coins prior to the issuance of such

24 coins. Sales under this subsection shall be at a reasonable

25 discount.
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1 (d) SURCHARGE REQUIRED.—All sales shall include

2 a surcharge of $25 per coin for the $5 coins, $5 per coin

3 for the $1 coins, and $1 per coin for the half dollar coins.

4 SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULA5 TIONS.

6 No provision of law governing procurement or public

7 contracts shall be applicable to the procurement of goods

8 or services necessary for carrying out the provisions of this

9 Act. Nothing in this section shall relieve any person enter10 ing into a contract under the authority of this Act from

11 complying with any law relating to equal employment

12 opportunity.

13 SEC. 8. DISTRIBUTION OF SURCHARGES.

14 The total surcharges collected by the Secretary from

15 the sale of the coins issued under this Act shall be prompt16 ly paid by the Secretary to the Association of Graduates,

17 United States Military Academy to assist the Association

18 of Graduates’ efforts to provide direct support to the aca19 demic, military, physical, moral, and ethical development

20 programs of the Corps of Cadets, United States Military

21 Academy.

22 SEC. 9. AUDITS.

23 The Comptroller General of the United States shall

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

25 and other data of the Association of Graduates, United
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1 States Military Academy as may be related to the expendi2 ture of amounts paid under section 8.

3 SEC. 10. NUMISMATIC PUBLIC ENTERPRISE FUND.

4 The coins issued under this Act are subject to the

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

6 relating to the Numismatic Public Enterprise Fund.

7 SEC. 11. FINANCIAL ASSURANCES.

8 (a) NO NET COST TO THE GOVERNMENT.—The Sec9 retary shall take all actions necessary to ensure that the

10 issuance of the coins authorized by this Act shall result

11 in no net cost to the United States Government.

12 (b) ADEQUATE SECURITY FOR PAYMENT RE13 QUIRED.—No coin shall be issued under this Act unless

14 the Secretary has received—

15 (1) full payment therefore;

16 (2) security satisfactory to the Secretary to in17 demnify the United States for full payment; or

18 (3) a guarantee of full payment satisfactory to

19 the Secretary from a depository institution whose

20 deposits are insured by the Federal Deposit Insur21 ance Corporation or the National Credit Union Ad22 ministration Board.

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