II

103D CONGRESS

1ST SESSION S. 1651

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 SENATE OF THE UNITED STATES

NOVEMBER 10 (legislative day, NOVEMBER 2), 1993

Mr. D’AMATO (for himself and Mr. FAIRCLOTH) introduced the following bill;

which was read twice and referred to the Committee on Banking, Housing, 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,

3 SECTION 1. SHORT TITLE.

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

5 Academy Bicentennial Commemorative Coin Act of

6 1993’’.

7 SEC. 2. COIN SPECIFICATIONS.

8 (a) FIVE DOLLAR GOLD COINS.—
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1 (1) ISSUANCE.—The Secretary of the Treasury

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

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

4 shall weigh 8.359 grams, have a diameter of 0.850

5 inches, and shall contain 90 percent gold and 10

6 percent alloy.

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

8 be emblematic of the United States Military Acad9 emy and its motto ‘‘Duty, Honor, Country’’. On

10 each such coin there shall be a designation of the

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

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

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

14 Pluribus Unum’’.

15 (b) ONE DOLLAR SILVER COINS.—

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

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

18 26.73 grams, have a diameter of 1.500 inches, and

19 shall contain 90 percent silver and 10 percent cop20 per.

21 (2) DESIGN.—The design of the $1 coins shall

22 be emblematic of the United States Military Acad23 emy and its motto ‘‘Duty, Honor, Country’’. On

24 each such coin there shall be a designation of the

25 value of the coin, an inscription of the year ‘‘2002’’,
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1 and inscriptions of the words ‘‘Liberty’’, ‘‘In God

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

3 Pluribus Unum’’.

4 (c) HALF DOLLAR CLAD COINS.—

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

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

7 shall weigh 11.34 grams, have a diameter of 1.205

8 inches; and be minted to the specifications for half

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

10 United States Code.

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

12 coins shall be emblematic of the United States Mili13 tary Academy and its motto ‘‘Duty, Honor, Coun14 try’’. On each such coin there shall be a designation

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

16 ‘‘2002’’, and inscriptions of the words ‘‘Liberty’’,

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

18 and ‘‘E Pluribus Unum’’.

19 (d) LEGAL TENDER.—The coins issued under this

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

21 title 31, United States Code.

22 SEC. 3. SOURCES OF BULLION.

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

24 silver for the coins minted under this Act only from stock-
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1 piles established under the Strategic and Critical Mate2 rials Stock Piling Act.

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

4 for the coins minted under this Act pursuant to the au5 thority of the Secretary under existing law.

6 SEC. 4. SELECTION OF DESIGN.

7 The design for each coin authorized by this Act shall

8 be selected by the Secretary after consultation with the

9 Commission of Fine Arts and the Bicentennial Steering

10 Group, Association of Graduates, United States Military

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

12 States Code, the designs shall also be reviewed by the Citi13 zens Commemorative Coin Advisory Committee.

14 SEC. 5. ISSUANCE OF THE COINS.

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

16 this Act may be issued in uncirculated and proof qualities

17 and shall be struck at the United States Bullion Deposi18 tory at West Point.

19 (b) SILVER AND HALF DOLLAR COINS.—The $1

20 coins and the half dollar coins authorized under this Act

21 may be issued in uncirculated and proof qualities, except

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

23 may be used to strike any particular combination of de24 nomination and quality.
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1 (c) COMMENCEMENT OF ISSUANCE.—The coins au2 thorized under this Act shall be available for issue not

3 later than March 16, 2002.

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

5 under this Act after December 31, 2002.

6 SEC. 6. SALE OF THE COINS.

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

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

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

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

11 designing and issuing such coins (including labor, mate12 rials, dies, use of machinery, overhead expenses, market13 ing, and shipping).

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

15 sales at a reasonable discount.

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

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

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

19 discount.

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

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

22 for the $1 coins, and $1 per coin for the half dollar coins.
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1 SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULA2 TIONS.

3 No provision of law governing procurement or public

4 contracts shall be applicable to the procurement of goods

5 or services necessary for carrying out the provisions of this

6 Act. Nothing in this section shall relieve any person enter7 ing into a contract under the authority of this Act from

8 complying with any law relating to equal employment op9 portunity.

10 SEC. 8. DISTRIBUTION OF SURCHARGES.

11 The total surcharges collected by the Secretary from

12 the sale of the coins issued under this Act shall be prompt13 ly paid by the Secretary to the Association of Graduates,

14 United States Military Academy to assist the Association

15 of Graduates’ efforts to provide direct support to the aca16 demic, military, physical, moral, and ethical development

17 programs of the Corps of Cadets, United States Military

18 Academy.

19 SEC. 9. AUDITS.

20 The Comptroller General of the United States shall

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

22 and other data of the Association of Graduates, United

23 States Military Academy as may be related to the expendi24 ture of amounts paid under section 8.
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1 SEC. 10. NUMISMATIC PUBLIC ENTERPRISE FUND.

2 The coins issued under this Act are subject to the

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

4 relating to the Numismatic Public Enterprise Fund.

5 SEC. 11. FINANCIAL ASSURANCES.

6 (a) NO NET COST TO THE GOVERNMENT.—The Sec7 retary shall take all actions necessary to ensure that the

8 issuance of the coins authorized by this Act shall result

9 in no net cost to the United States Government.

10 (b) ADEQUATE SECURITY FOR PAYMENT RE11 QUIRED.—No coin shall be issued under this Act unless

12 the Secretary has received—

13 (1) full payment therefore;

14 (2) security satisfactory to the Secretary to in15 demnify the United States for full payment; or

16 (3) a guarantee of full payment satisfactory to

17 the Secretary from a depository institution whose

18 deposits are insured by the Federal Deposit Insur19 ance Corporation or the National Credit Union Ad20 ministration Board.

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