I 

111TH CONGRESS 

1ST SESSION H. R. 3405 

To authorize the production of Saint-Gaudens Double Eagle ultra-high relief 

bullion coins in palladium to provide affordable opportunities for investments in precious metals, and for other purposes. 

IN THE HOUSE OF REPRESENTATIVES 

JULY 30, 2009 

Mr. REHBERG (for himself and Mr. CASTLE) introduced the following bill; 

which was referred to the Committee on Financial Services 

A BILL 

To authorize the production of Saint-Gaudens Double Eagle 

ultra-high relief bullion coins in palladium 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 ‘‘Original Saint5 Gaudens Double Eagle Ultra-High Relief Bullion Coin Act 

6 of 2009’’. 


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1 SEC. 2. PALLADIUM COIN. 

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

3 amended— 

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

5 following new paragraph: 

6 ‘‘(12) A $20 coin that— 

7 ‘‘(A) is 27 millimeters in diameter; 

8 ‘‘(B) weighs 1 ounce; 

9 ‘‘(C) is of an appropriate thickness, as de10 termined by the Secretary; and 

11 ‘‘(D) bears, on the obverse and reverse, the 

12 designs of the famous 27-millimeter version of 

13 the 1907 Augustus Saint-Gaudens Double 

14 Eagle gold piece, as described in subsection 

15 (u).’’; and 

16 (2) by adding at the end, the following new sub17 section: 

18 ‘‘(u) ORIGINAL SAINT-GAUDENS DOUBLE EAGLE

19 ULTRA-HIGH RELIEF NUMISMATIC COINS AND BULLION

20 INVESTMENT COINS.— 

21 ‘‘(1) IN GENERAL.—Beginning in 2009, the 

22 Secretary shall commence minting and issuing for 

23 sale— 

24 ‘‘(A) such number of $20 bullion invest25 ment coins as the Secretary may determine to 


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1 be appropriate, that bear the design described 

2 in paragraph (2); and 

3 ‘‘(B) not more than 15,000 of the numis4 matic $20 coins that bear the design and meet 

5 the requirements of paragraph (3). 

6 ‘‘(2) DESIGN AND REQUIREMENTS FOR BUL7 LION INVESTMENT COINS.— 

8 ‘‘(A) IN GENERAL.—Except as provided 

9 under subparagraph (B), the obverse and re10 verse of the coins minted and issued pursuant 

11 to paragraph (1)(A) shall bear a likeness of the 

12 original obverse and reverse designs by Augus13 tus Saint-Gaudens which appear on the famous 

14 27-millimeter version of the 1907 Double Eagle 

15 ultra-high relief gold piece. 

16 ‘‘(B) VARIATIONS.—The coins referred to 

17 in subparagraph (A) shall— 

18 ‘‘(i) have inscriptions of the weight of 

19 the coin and the purity of the alloy in the 

20 coin raised on the edge of the coin; 

21 ‘‘(ii) bear the nominal denomination 

22 of the coin; 

23 ‘‘(iii) bear the date of issue of the coin 

24 on the obverse, expressed as a Roman nu25 meral as in the original design; and 


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1 ‘‘(iv) bear such other inscriptions, in2 cluding ‘In God We Trust’, as the Sec3 retary determines to be appropriate and in 

4 keeping with the original design. 

5 ‘‘(C) MINT FACILITY.—Any facility of the 

6 United States Mint may be used to strike coins 

7 minted pursuant to paragraph (1)(A) other 

8 than the United States mint at West Point, 

9 New York. 

10 ‘‘(3) DESIGN AND REQUIREMENTS FOR ULTRA11 HIGH RELIEF NUMISMATIC COINS.— 

12 ‘‘(A) IN GENERAL.—Subject to subpara13 graph (B), the obverse and reverse of the coins 

14 minted and issued pursuant to paragraph 

15 (1)(B) shall bear exact replicas of the original 

16 obverse and reverse designs by Augustus Saint17 Gaudens which appear on the famous 27-milli18 meter version of the 1907 Double Eagle ultra19 high relief gold piece and the edge of the coin 

20 shall have all appropriate raised lettering in the 

21 same manner as the original coin. 

22 ‘‘(B) VARIATIONS.—The coins referred to 

23 in subparagraph (A) shall— 

24 ‘‘(i) bear a single finish that most 

25 closely approximates the finish of the origiVerDate Nov 24 2008 23:12 Aug 01, 2009 Jkt 079200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\H3405.IH H3405

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1 nal gold 1907 ultra-high relief gold piece 

2 as is practicable; 

3 ‘‘(ii) bear the nominal denomination 

4 of the coin; 

5 ‘‘(iii) bear the date of issue of the coin 

6 on the obverse, expressed as a Roman nu7 meral as in the original design; and 

8 ‘‘(iv) bear such other inscriptions, in9 cluding ‘In God We Trust’, as the Sec10 retary determines to be appropriate and in 

11 keeping with the original design. 

12 ‘‘(C) MINT FACILITY.—Coins minted pur13 suant to paragraph (1)(B) may only be struck 

14 at the United States mint at West Point, New 

15 York. 

16 ‘‘(D) FRACTIONAL COINS PROHIBITED.— 

17 No coins issued under this subsection shall be 

18 made available as so-called ‘fractional’ coins. 

19 ‘‘(4) DISTRIBUTION IN SETS AND OTHER CO20 ORDINATION REQUIREMENTS.—If the Secretary 

21 chooses, in accordance with subsection (i), to mint 

22 and issue a gold bullion coin that bears the same de23 sign as the ultra-high relief numismatic coins de24 scribed in paragraph (1)(B)— 


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1 ‘‘(A) each palladium coin issued under 

2 paragraph (1)(B) may only be issued in a set 

3 containing 1 of each such coins; 

4 ‘‘(B) each set of coins described in sub5 paragraph (A) shall be provided in a presen6 tation case of appropriate design; 

7 ‘‘(C) the set described in subparagraph (A) 

8 may only be issued and sold in 2009; 

9 ‘‘(D) gold coins issued in any set described 

10 in subparagraph (A) may only be struck at the 

11 United States mint at West Point, New York 

12 and no other gold coin issued by the Secretary 

13 that bears the same design as the ultra-high re14 lief numismatic coins described in paragraph 

15 (1)(B) may be struck at such mint at West 

16 Point; and 

17 ‘‘(E) no gold coin that bears the same de18 sign as the ultra-high relief numismatic coins 

19 described in paragraph (1)(B) shall be made 

20 available as so-called ‘fractional’ coins. 

21 ‘‘(5) COMPOSITION.— 

22 ‘‘(A) IN GENERAL.—The coins minted 

23 under this subsection shall contain .995 pure 

24 palladium. 

25 ‘‘(B) SOURCE OF BULLION.— 


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1 ‘‘(i) IN GENERAL.—The Secretary 

2 shall acquire bullion for the palladium 

3 coins issued under this subsection by pur4 chase of palladium mined from natural de5 posits in the United States, or in a terri6 tory or possession of the United States, 

7 within the 1-year period before the coins 

8 are minted. 

9 ‘‘(ii) PRICE OF BULLION.—The Sec10 retary shall pay not more than the average 

11 world price for the palladium under sub12 paragraph (A). 

13 ‘‘(6) SALE OF COINS.—Each coin issued under 

14 this subsection shall be sold for an amount the Sec15 retary determines to be appropriate, but not less 

16 than the sum of— 

17 ‘‘(A) the nominal denomination of the coin; 

18 ‘‘(B) the market value of the bullion at the 

19 time of sale; and 

20 ‘‘(C) the cost of designing and issuing the 

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

22 machinery, overhead expenses, marketing, dis23 tribution, and shipping. 


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1 ‘‘(7) LEGAL TENDER.—The coins minted under 

2 this subsection shall be legal tender, as provided in 

3 section 5103. 

4 ‘‘(8) TREATMENT AS NUMISMATIC ITEMS.—For 

5 purposes of section 5134 and 5136, all coins minted 

6 under this subsection shall be considered to be nu7 mismatic items. 

8 ‘‘(9) QUALITY.—The Secretary may issue the 

9 coins described in paragraph (1)(A) in both proof 

10 and uncirculated versions. 

11 ‘‘(10) PROTECTIVE AND ANTI-COUNTERFEITING

12 COVER.— 

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

14 give strong consideration to making the coins 

15 described in this subsection available only in 

16 protective covers that preserve the coins in the 

17 condition in which they are issued, allow clear 

18 and easy viewing of the obverse, reverse, and 

19 sides of the coin and protect it from movement 

20 within the holder, and also protect against 

21 counterfeiting of such coins or of the container. 

22 ‘‘(B) ACQUISITION.—The Secretary may 

23 elect to comply with subparagraph (A) by pro24 ducing and assembling such protective covers 


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1 within the United States Mint or by contracting 

2 for the installation of such covers. 

3 ‘‘(11) FURTHER ANTI-COUNTERFEITING MEAS4 URES.— 

5 ‘‘(A) REPORT REQUIRED.—In an attempt 

6 to forestall the counterfeiting or marketing of 

7 the coins described in this section, including 

8 this subsection, and of collectible, numismatic 

9 and rare coins in general, the Comptroller Gen10 eral shall, after consulting with the Director of 

11 the United States Secret Service and the Fed12 eral Trade Commission, and in consultation 

13 with hobbyists, numismatists, law enforcement 

14 agencies, and the Citizens Coinage Advisory 

15 Committee, shall submit to the Committee on 

16 Financial Services of the House of Representa17 tives and the Committee on Banking, Housing, 

18 and Urban Affairs of the Senate, before the end 

19 of the 9-month period beginning on the date of 

20 the enactment of the Original Saint-Gaudens 

21 Double Eagle Ultra-High Relief Bullion Coin 

22 Act, a report detailing the extent of counter23 feiting of rare, collectible or numismatic coins 

24 made available for sale in the United States, re25 gardless of the country where the original of 


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1 such coin was produced or of the country in 

2 which the counterfeiting takes place, or sales 

3 overseas if such counterfeit coins are unauthor4 ized copies of coins originally produced by the 

5 United States Mint. 

6 ‘‘(B) CONTENTS OF REPORT.—The report 

7 submitted under subparagraph (A) shall de8 scribe— 

9 ‘‘(i) the extent of such counterfeiting 

10 of coins and numismatic items; 

11 ‘‘(ii) the source of such counterfeiting, 

12 if known, including which countries may be 

13 the origin of such counterfeits if they are 

14 produced outside the United States; 

15 ‘‘(iii) the distribution and marketing 

16 channels for such counterfeits within and 

17 without the United States; 

18 ‘‘(iv) the effect of any such counter19 feiting on hobbyists, numismatists and on 

20 the investment opportunities for bullion or 

21 numismatic coins produced by the United 

22 States Mint; 

23 ‘‘(v) whether such counterfeiting ex24 tends to the counterfeiting of coin-grading 

25 or protective materials in such a way that 


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1 might imply that the counterfeit inside had 

2 been examined and authenticated by a rep3 utable coin-grading firm; and 

4 ‘‘(vi) such recommendations for legis5 lative or administrative action as the 

6 Comptroller General may determine to be 

7 appropriate to curtail or forestall any such 

8 counterfeiting.’’. 

Æ 


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