II

103D CONGRESS

2D SESSION S. 2302

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

of the Old San Francisco Mint.

IN THE SENATE OF THE UNITED STATES

JULY 21 (legislative day, JULY 20), 1994

Mrs. FEINSTEIN (for herself, Mrs. BOXER, and Mr. DECONCINI) introduced

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

on Banking, Housing, and Urban Affairs

A BILL

To require the Secretary of the Treasury to mint coins

in commemoration of the Old San Francisco Mint.

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 ‘‘Old San Francisco

5 Mint Commemorative Coin Act’’.

6 SEC. 2. COIN SPECIFICATIONS.

7 (a) DENOMINATIONS.—The Secretary of the Treas8 ury (hereafter in this Act referred to as the ‘‘Secretary’’)

9 shall mint and issue the following coins:
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1 (1) $1 SILVER COINS.—Not more than

2 1,000,000 $1 coins, which shall—

3 (A) weigh 26.73 grams;

4 (B) have a diameter of 1.500 inches; and

5 (C) contain 90 percent silver and 10 per6 cent copper.

7 (2) HALF DOLLAR CLAD COINS.—Not more

8 than 1,000,000 half dollar coins which shall—

9 (A) weigh 11.34 grams;

10 (B) have a diameter of 1.205 inches; and

11 (C) be minted to the specifications for half

12 dollar coins contained in section 5112(b) of title

13 31, United States Code.

14 (b) LEGAL TENDER.—The coins minted under this

15 Act shall be legal tender, as provided in section 5103 of

16 title 31, United States Code.

17 (c) NUMISMATIC ITEMS.—For purposes of section

18 5134 of title 31, United States Code, all coins minted

19 under this Act shall be considered to be numismatic items.

20 SEC. 3. SOURCES OF BULLION.

21 The Secretary shall obtain silver for minting coins

22 under this Act only from stockpiles established under the

23 Strategic and Critical Materials Stock Piling Act.

24 SEC. 4. DESIGN OF COINS.

25 (a) DESIGN REQUIREMENTS.—
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1 (1) IN GENERAL.—The design of the coins

2 minted under this Act shall be emblematic of the

3 Old San Francisco Mint, its role in the coinage of

4 gold, and the educational mission of the Old San

5 Francisco Mint Museum.

6 (2) DESIGNATION AND INSCRIPTIONS.—On

7 each coin minted under this Act there shall be—

8 (A) a designation of the value of the coin;

9 (B) an inscription of the year ‘‘1995’’; and

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

11 ‘‘In God We Trust’’, ‘‘United States of Amer12 ica’’, and ‘‘E Pluribus Unum’’.

13 (b) SELECTION.—The design for the coins minted

14 under this Act shall be—

15 (1) selected by the Secretary after consultation

16 with Friends of the Mint and the Commission of

17 Fine Arts; and

18 (2) reviewed by the Citizens Commemorative

19 Coin Advisory Committee.

20 (c) DEFINITION.—For purposes of this Act, the term

21 ‘‘Friends of the Mint’’ means The Old Mint Corporation,

22 organized under the Nonprofit Public Benefit Corporation

23 Law of California and incorporated under articles of incor24 poration endorsed and filed in the office of the Secretary
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1 of State of California on June 24, 1994 (and any succes2 sor thereto).

3 SEC. 5. ISSUANCE OF COINS.

4 (a) QUALITY OF COINS.—Coins minted under this

5 Act shall be issued in uncirculated and proof qualities.

6 (b) MINT FACILITY.—All coins minted under this Act

7 shall be struck at the United States Mint facility in San

8 Francisco, California and shall bear the ‘‘S’’ mark of such

9 facility.

10 (c) PERIOD FOR ISSUANCE.—The Secretary may

11 mint coins under this Act only during the period beginning

12 on January 1, 1995, and ending on December 31, 1995.

13 SEC. 6. SALE OF COINS.

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

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

16 of—

17 (1) the face value of the coins;

18 (2) the surcharge provided in subsection (d)

19 with respect to such coins; and

20 (3) the cost of designing and issuing the coins

21 (including labor, materials, dies, use of machinery,

22 overhead expenses, marketing, and shipping).

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

24 sales of the coins issued under this Act at a reasonable

25 discount.
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1 (c) PREPAID ORDERS.—

2 (1) IN GENERAL.—The Secretary shall accept

3 prepaid orders for the coins minted under this Act

4 before the issuance of such coins.

5 (2) DISCOUNT.—Sale prices with respect to pre6 paid orders under paragraph (1) shall be at a rea7 sonable discount.

8 (d) SURCHARGES.—All sales shall include a sur9 charge of—

10 (1) $10 per coin for the $1 coin; and

11 (2) $2 per coin for the half dollar coin.

12 SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULA13 TIONS.

14 (a) IN GENERAL.—Except as provided in subsection

15 (b), no provision of law governing procurement or public

16 contracts shall be applicable to the procurement of goods

17 and services necessary for carrying out the provisions of

18 this Act.

19 (b) EQUAL EMPLOYMENT OPPORTUNITY.—Sub20 section (a) shall not relieve any person entering into a con21 tract under the authority of this Act from complying with

22 any law relating to equal employment opportunity.

23 SEC. 8. DISTRIBUTION OF SURCHARGES.

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

25 Secretary from the sale of coins issued under this Act shall
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1 be promptly paid by the Secretary to Friends of the Mint

2 for the purposes of—

3 (1) refurbishing sections of the Old San Fran4 cisco Mint building; and

5 (2) constructing additions to, operating, and

6 maintaining the Old San Francisco Mint.

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

8 States shall have the right to examine such books, records,

9 documents, and other data of Friends of the Mint as may

10 be related to the expenditures of amounts paid under sub11 section (a).

12 SEC. 9. FINANCIAL ASSURANCES.

13 (a) NO NET COST TO THE GOVERNMENT.—The Sec14 retary shall take such actions as may be necessary to en15 sure that minting and issuing coins under this Act will

16 not result in any net cost to the United States Govern17 ment.

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

19 under this Act unless the Secretary has received—

20 (1) full payment for the coin;

21 (2) security satisfactory to the Secretary to in22 demnify the United States for full payment; or

23 (3) a guarantee of full payment satisfactory to

24 the Secretary from a depository institution whose

25 deposits are insured by the Federal Deposit Insur-
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1 ance Corporation or the National Credit Union Ad2 ministration Board.

3 SEC. 10. REPORT TO CONGRESS.

4 The Secretary shall submit to the Congress semi5 annual reports regarding the activities carried out under

6 this Act.

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