IIA
105TH CONGRESS
2D SESSION
H. R. 3790
IN THE SENATE OF THE UNITED STATES
AUGUST 31, 1998
Received; read twice and referred to the Committee on Banking, Housing, and
Urban Affairs
AN ACT
To require the Secretary of the Treasury to mint coins
in commemoration of the bicentennial of the Library
of Congress.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Library of Congress
Bicentennial Commemorative Coin Act of 1998’’.
SEC. 2. COIN SPECIFICATIONS.
(a) DENOMINATIONS.—The Secretary of the Treas-
ury (hereafter in this Act referred to as the ‘‘Secretary’’)
shall mint and issue the following coins:
(1) $5 GOLD COINS.—Not more than 100,000
$5 coins, which shall—
(A) weigh 8.359 grams;
(B) have a diameter of 0.850 inches; and
(C) contain 90 percent gold and 10 percent
alloy.
(2) $1 SILVER COINS.—Not more than 500,000
$1 coins, which shall—
(A) weigh 26.73 grams;
(B) have a diameter of 1.500 inches; and
(C) contain 90 percent silver and 10 per-
cent copper.
(b) BIMETALLIC COINS.—The Secretary may mint
and issue not more than 200,000 $10 bimetallic coins of
gold and platinum instead of the gold coins required under
subsection (a)(1) in accordance with such specifications as
the Secretary determines to be appropriate.
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(c) LEGAL TENDER.—The coins minted under this
Act shall be legal tender, as provided in section 5103 of
title 31, United States Code.
SEC. 3. SOURCES OF BULLION.
(a) PLATINUM AND GOLD.—The Secretary shall ob-
tain platinum and gold for minting coins under this Act
from available sources.
(b) SILVER.—The Secretary may obtain silver for
minting coins under this Act from stockpiles established
under the Strategic and Critical Materials Stock Piling
Act and from other available sources.
SEC. 4. DESIGN OF COINS.
(a) DESIGN REQUIREMENTS.—
(1) IN
GENERAL.—The design of the coins
minted under this Act shall be emblematic of the Li-
brary of Congress.
(2) DESIGNATION
AND
INSCRIPTIONS.—On
each coin minted under this Act there shall be—
(A) a designation of the value of the coin;
(B) an inscription of the year ‘‘2000’’; and
(C) inscriptions of the words ‘‘Liberty’’,
‘‘In God We Trust’’, ‘‘United States of Amer-
ica’’, and ‘‘E Pluribus Unum’’.
(b) SELECTION.—The design for the coins minted
under this Act shall be—
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(1) selected by the Secretary after consultation
with the Library of Congress and the Commission of
Fine Arts; and
(2) reviewed by the Citizens Commemorative
Coin Advisory Committee.
SEC. 5. ISSUANCE OF COINS.
(a) QUALITY OF COINS.—Coins minted under this
Act shall be issued in uncirculated and proof qualities.
(b) MINT FACILITY.—Only 1 facility of the United
States Mint may be used to strike any particular combina-
tion of denomination and quality of the coins minted under
this Act.
(c) PERIOD
FOR ISSUANCE.—The Secretary may
issue coins minted under this Act only during the period
beginning on January 1, 2000, and ending on December
31, 2000.
(d) PROMOTION
CONSULTATION.—The Secretary
shall—
(1) consult with the Library of Congress in
order to establish a role for the Library of Congress
in the promotion, advertising, and marketing of the
coins minted under this Act; and
(2) if the Secretary determines that such action
would be beneficial to the sale of coins minted under
this Act, enter into a contract with the Library of
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Congress to carry out the role established under
paragraph (1).
SEC. 6. SALE OF COINS.
(a) SALE PRICE.—The coins issued under this Act
shall be sold by the Secretary at a price equal to the sum
of—
(1) the face value of the coins;
(2) the surcharge provided in subsection (d)
with respect to such coins; and
(3) the cost of designing and issuing the coins
(including labor, materials, dies, use of machinery,
overhead expenses, marketing, and shipping).
(b) BULK SALES.—The Secretary shall make bulk
sales of the coins issued under this Act at a reasonable
discount.
(c) PREPAID ORDERS.—
(1) IN GENERAL.—The Secretary shall accept
prepaid orders for the coins minted under this Act
before the issuance of such coins.
(2) DISCOUNT.—Sale prices with respect to pre-
paid orders under paragraph (1) shall be at a rea-
sonable discount.
(d) SURCHARGES.—All sales shall include a sur-
charge established by the Secretary, in an amount equal
to not more than—
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(1) $50 per coin for the $10 coin or $35 per
coin for the $5 coin; and
(2) $5 per coin for the $1 coin.
SEC. 7. DISTRIBUTION OF SURCHARGES.
All surcharges received by the Secretary from the sale
of coins issued under this Act shall be paid by the Sec-
retary to the Library of Congress Trust Fund Board in
accordance with section 5134(f) of title 31, United States
Code (as added by section 529(b)(2) of the Treasury,
Postal Service, and General Government Appropriations
Act, 1997), to be used for the purpose of supporting bicen-
tennial programs, educational outreach activities (includ-
ing schools and libraries), and other activities of the Li-
brary of Congress.
Passed the House of Representatives August 4,
1998.
Attest:
ROBIN H. CARLE,
Clerk.