I 

111TH CONGRESS 

2D SESSION H. R. 6166 

To authorize the production of palladium bullion coins to provide affordable 

opportunities for investments in precious metals, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

SEPTEMBER 22, 2010 

Mr. REHBERG introduced the following bill; which was referred to the 

Committee on Financial Services 

A BILL 

To authorize the production of palladium bullion coins to 

provide affordable opportunities for investments in precious metals, and for other purposes. 

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 ‘‘American Eagle Palla5 dium Bullion Coin Act of 2010’’. 

6 SEC. 2. PALLADIUM COIN. 

7 Section 5112 of title 31, United States Code, is 

8 amended— 

9 (1) in subsection (a), by adding at the end the 

10 following new paragraph; 


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1 ‘‘(12) A $25 coin of an appropriate size and 

2 thickness, as determined by the Secretary, that 

3 weighs 1 troy ounce and contains .9995 fine palla4 dium.’’; and 

5 (2) by adding at the end the following new sub6 section: 

7 ‘‘(v) PALLADIUM BULLION INVESTMENT COINS.— 

8 ‘‘(1) IN GENERAL.—Subject to the submission 

9 to the Secretary and the Congress of a marketing 

10 study described in paragraph (8), beginning not 

11 more than 6 months after the submission of the 

12 study to the Secretary and the Congress, the Sec13 retary shall mint and issue the palladium coins de14 scribed in paragraph (12) of subsection (a) in such 

15 quantities as the Secretary may determine to be ap16 propriate to meet demand. 

17 ‘‘(2) SOURCE OF BULLION.— 

18 ‘‘(A) IN GENERAL.—The Secretary shall 

19 acquire bullion for the palladium coins issued 

20 under this subsection by purchase of palladium 

21 mined from natural deposits in the United 

22 States, or in a territory or possession of the 

23 United States, within 1 year after the month in 

24 which the ore from which it is derived was 

25 mined. If no such palladium is available or if it 


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1 is not economically feasible to obtain such palla2 dium, the Secretary may obtain palladium for 

3 the palladium coins described in paragraph (12) 

4 of subsection (a) from other available sources. 

5 ‘‘(B) PRICE OF BULLION.—The Secretary 

6 shall pay not more than the average world price 

7 for the palladium under subparagraph (A). 

8 ‘‘(3) SALE OF COINS.—Each coin issued under 

9 this subsection shall be sold for an amount the Sec10 retary determines to be appropriate, but not less 

11 than the sum of— 

12 ‘‘(A) the market value of the bullion at the 

13 time of sale; and 

14 ‘‘(B) the cost of designing and issuing the 

15 coins, including labor, materials, dies, use of 

16 machinery, overhead expenses, marketing, dis17 tribution, and shipping. 

18 ‘‘(4) TREATMENT.—For purposes of section 

19 5134 and 5136, all coins minted under this sub20 section shall be considered to be numismatic items. 

21 ‘‘(5) QUALITY.—The Secretary may issue the 

22 coins described in paragraph (1) in both proof and 

23 uncirculated versions, except that, should the Sec24 retary determine that it is appropriate to issue proof 

25 or uncirculated versions of such coin, the Secretary 


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1 shall, to the greatest extent possible, ensure that the 

2 surface treatment of each year’s proof or uncir3 culated version differs in some material way from 

4 that of the preceding year. 

5 ‘‘(6) DESIGN.—Coins minted and issued under 

6 this subsection shall bear designs on the obverse and 

7 reverse that are close likenesses of the work of 

8 famed American coin designer and medallic artist 

9 Adolph Alexander Weinman— 

10 ‘‘(A) the obverse shall bear a high-relief 

11 likeness of the ‘Winged Liberty’ design used on 

12 the obverse of the so-called ‘Mercury dime’; 

13 ‘‘(B) the reverse shall bear a high-relief 

14 version of the reverse design of the 1907 Amer15 ican Institute of Architects medal; and 

16 ‘‘(C) the coin shall bear such other inscrip17 tions, including ‘Liberty’, ‘In God We Trust’, 

18 ‘United States of America’, the denomination 

19 and weight of the coin and the fineness of the 

20 metal, as the Secretary determines to be appro21 priate and in keeping with the original design. 

22 ‘‘(7) MINT FACILITY.—Any United States mint, 

23 other than the United States Mint at West Point, 

24 New York, may be used to strike coins minted under 

25 this subsection other than any proof version of any 


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1 such coin. If the Secretary determines that it is ap2 propriate to issue any proof version of such coin, 

3 coins of such version shall be struck only at the 

4 United States Mint at West Point, New York. 

5 ‘‘(8) MARKETING STUDY DEFINED.—The mar6 ket study described in paragraph (1) means an anal7 ysis of the market for palladium bullion investments 

8 conducted by a reputable, independent third party 

9 that demonstrates that there would be adequate de10 mand for palladium bullion coins produced by the 

11 United States Mint to ensure that such coins could 

12 be minted and issued at no net cost to taxpayers.’’. 

Æ 


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