I 

109TH CONGRESS 

2D SESSION H. R. 5077 

To amend title 31, United States Code, to provide a clear line of demarcation 

with regard to private ownership of any coin, medal, or numismatic 

item made or issued by the United States Government before January 

1, 1933, that is not in the possession of the United States Government, 

to establish certain guidelines and requirements with respect to the 

inventory, preservation, public display, and disposition of certain United 

States coins, medals, and numismatic items that were struck or made 

after December 31, 1932, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

APRIL 4, 2006 

Mr. LUCAS introduced the following bill; which was referred to the Committee 

on Financial Services 

A BILL 

To amend title 31, United States Code, to provide a clear 

line of demarcation with regard to private ownership 

of any coin, medal, or numismatic item made or issued 

by the United States Government before January 1, 

1933, that is not in the possession of the United States 

Government, to establish certain guidelines and requirements with respect to the inventory, preservation, public 

display, and disposition of certain United States coins, 

medals, and numismatic items that were struck or made 

after December 31, 1932, and for other purposes. 


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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 ‘‘Numismatic Rarities 

5 Certainty Act of 2006’’. 

6 SEC. 2. DISPOSITION OF CERTAIN UNITED STATES COINS. 

7 (a) IN GENERAL.—Subchapter II of chapter 51, 

8 United States Code, is amended by adding at the end the 

9 following new section: 

10 ‘‘§ 5123. Inventory and disposition of certain United 

11 States coins, medals, and numismatic 

12 items 

13 ‘‘(a) COINS, MEDALS, AND NUMISMATIC ITEMS

14 MADE BEFORE 1933.—Any coin, medal, or numismatic 

15 item made or issued by the United States Government be16 fore January 1, 1933, that, as of the date of the enact17 ment of the Numismatic Rarities Certainty Act of 2006, 

18 is not in the possession of the United States Government 

19 shall not be considered to be property of the United 

20 States, unless the coin, medal, or numismatic item is reac21 quired by the United States Government for value given 

22 in a sale or exchange. 

23 ‘‘(b) COINS, MEDALS, AND NUMISMATIC ITEMS

24 MADE AFTER 1932.— 


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1 ‘‘(1) IN GENERAL.—In the case of any coin, 

2 medal, or numismatic item that— 

3 ‘‘(A) was struck or made by the United 

4 States Government after December 31, 1932; 

5 ‘‘(B) was never issued by the United 

6 States Government; and 

7 ‘‘(C) comes into the possession of the 

8 United States Government, 

9 the coin, medal, or numismatic item shall be trans10 ferred to the Secretary of the Treasury, if not al11 ready in the Secretary’s possession, and the Sec12 retary shall take the appropriate action required 

13 with respect to such coin, medal, or numismatic item 

14 under paragraph (2). 

15 ‘‘(2) DISPOSITION OF COINS, MEDALS, OR NU16 MISMATIC ITEMS.— 

17 ‘‘(A) DETERMINATION OF AVAILABLE

18 ITEMS.—Upon taking possession of any coin, 

19 medal, or numismatic item under paragraph 

20 (1), the Secretary of the Treasury shall make a 

21 determination of the number and condition of 

22 the coins, medals, or numismatic items of the 

23 same denomination, quality, type, and year of 

24 production as the coin, medal, or numismatic 

25 item referred to in such paragraph, taking into 


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1 account the most recent inventory conducted in 

2 accordance with subsection (c). 

3 ‘‘(B) HISTORIC PRESERVATION AND PUB4 LIC DISPLAY.—The Secretary shall ensure that 

5 an appropriate number of any coin, medal, or 

6 numismatic item of the same denomination, 

7 quality, type, and year of production that are or 

8 come into the Secretary’s possession— 

9 ‘‘(i) are retained for historical pur10 poses; and 

11 ‘‘(ii) are made available for public 

12 viewing at such times and places as the 

13 Secretary, in the sole discretion of the Sec14 retary, determines to be appropriate. 

15 ‘‘(C) SALE OF EXCESS AT PUBLIC AUC16 TION.— 

17 ‘‘(i) IN GENERAL.—If the Secretary 

18 determines that the number of any coins, 

19 medals, or numismatic items of the same 

20 denomination, quality, type, and year of 

21 production that are in the Secretary’s pos22 session exceeds the number that are appro23 priate for historic preservation and public 

24 display under subparagraph (B), the Sec25 retary may dispose of such excess, or such 


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1 portion of the excess as the Secretary de2 termines to be appropriate, at public auc3 tion. 

4 ‘‘(ii) PROCEEDS.—The proceeds from 

5 any auction conducted by the Secretary 

6 under clause (i) shall be deposited in an 

7 endowment fund for the National Numis8 matic Collection at the Smithsonian Insti9 tution. 

10 ‘‘(iii) RULE OF CONSTRUCTION.—No 

11 provision of this section may be construed 

12 as authorizing the United States Mint to 

13 establish a national museum of money or 

14 any other museum. 

15 ‘‘(D) STANDARDS.—In making any deter16 mination with regard to any public auction of 

17 coins, medals, or numismatic items under sub18 paragraph (C)(i), the following standards shall 

19 be taken into account by the Secretary: 

20 ‘‘(i) Maximum return to the Govern21 ment. 

22 ‘‘(ii) Interest of the numismatic com23 munity in the sale and in the items to be 

24 offered for sale. 


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1 ‘‘(iii) Interest of the general public in 

2 the items to be offered for sale. 

3 ‘‘(E) DESTRUCTION OF UNSOLD EX4 CESS.—Any coins, medals, or numismatic items 

5 that— 

6 ‘‘(i) were determined by the Secretary, 

7 under subparagraph (C)(i) to be in excess 

8 of the number of such coins, medals, or 

9 numismatic items that are appropriate for 

10 historic preservation and public display 

11 under subparagraph (B); and 

12 ‘‘(ii) remain unsold following an auc13 tion under such subparagraph, or were 

14 withheld from such auction by the Sec15 retary in accordance with subparagraph 

16 (C)(i), 

17 may be treated as obsolete and disposed of in 

18 the manner provided in section 5120. 

19 ‘‘(c) INVENTORY.— 

20 ‘‘(1) IN GENERAL.—By January 1, 2007, and 

21 every 5 years thereafter, the Secretary of the Treas22 ury shall conduct and compile an inventory of all 

23 coins, medals, or numismatic items that are in the 

24 possession of the United States Government or that 

25 are on loan to, or were at any time presented to or 


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1 retained by, any person or entity (other than in ac2 cordance with a specific requirement of an Act of 

3 Congress) regardless of when such coin, medal, or 

4 numismatic item was struck or made. 

5 ‘‘(2) REPORT ON INVENTORY.—The Secretary 

6 of the Treasury shall submit the inventory together 

7 with a report containing any findings, recommenda8 tions, or conclusions of the Secretary with respect to 

9 the inventory to the President and the Congress be10 fore January 31, 2007, and every 5 years thereafter. 

11 ‘‘(d) DEFINITION.—For purposes of this section, the 

12 term ‘numismatic item’ has the same meaning as in sec13 tion 5134(a)(3) (which includes dies, test pieces, and other 

14 products relating to such items). ’’. 

15 (b) CLERICAL AMENDMENT.—The table of sections 

16 for chapter 51, United States Code, is amended by insert17 ing after the item relating to section 5122 the following 

18 new item: 

‘‘5123. Inventory and disposition of certain United States coins, medals, and numismatic items.’’. 

Æ 


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