I
105TH CONGRESS
2D SESSION
H. R. 4624
To require the Secretary of the Treasury to mint coins in conjunction with
the minting of coins by the Republic of Iceland in commemoration of
the millennium of the discovery of the New World by Leif Ericsson.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 24, 1998
Mr. LEACH introduced the following bill; which was referred to the Committee
on Banking and Financial Services
A BILL
To require the Secretary of the Treasury to mint coins
in conjunction with the minting of coins by the Republic
of Iceland in commemoration of the millennium of the
discovery of the New World by Leif Ericsson.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Leif Ericsson Millen-
nium Commemorative Coin Act’’.
SEC. 2. COIN SPECIFICATIONS.
(a) $1 SILVER COINS.—In conjunction with the si-
multaneous minting and issuance of commemorative coins
by the Republic of Iceland in commemoration of the mil-
lennium of the discovery of the New World by Leif
Ericsson, the Secretary of the Treasury (hereafter in this
Act referred to as the ‘‘Secretary’’) shall mint and issue
not more than 500,000 1 dollar coins, which shall—
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain 90 percent silver and 10 percent
copper.
(b) LEGAL TENDER.—The coins minted under this
Act shall be legal tender, as provided in section 5103 of
title 31, United States Code.
(c) NUMISMATIC ITEMS.—For purposes of section
5136 of title 31, United States Code, all coins minted
under this Act shall be considered to be numismatic items.
SEC. 3. SOURCES OF BULLION.
The Secretary may obtain silver for minting coins
under this Act from any available source, including stock-
piles established under the Strategic and Critical Mate-
rials Stock Piling Act.
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
millennium of the discovery of the New World by
Leif Ericsson.
(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—
(1) selected by the Secretary after consultation
with the Leifur Eirı´ksson Foundation and the Com-
mission 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 quality
of the coins minted under this Act.
(c) COMMENCEMENT OF ISSUANCE.—The Secretary
may issue coins minted under this Act beginning January
1, 2000.
(d) TERMINATION
OF MINTING AUTHORITY.—No
coins may be minted under this Act after December 31,
2000.
SEC. 6. SURCHARGES.
(a) IN GENERAL.—All sales of coins minted under
this Act shall include a surcharge of $10 per coin.
(b) DISTRIBUTION.—All surcharges received by the
Secretary from the sale of coins issued under this Act shall
be promptly paid by the Secretary to the Leifur Eirı´ksson
Foundation for the purpose of funding student exchanges
between students of the United States and students of Ice-
land.
(c) AUDITS.—The Leifur Eirı´ksson Foundation shall
be subject to the audit requirements of section 5134(f)(2)
of title 31, United States Code, with regard to the
amounts received by the Foundation under subsection (b).
SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULA-
TIONS.
(a) IN GENERAL.—Except as provided in subsection
(b), no provision of law governing procurement or public
contracts shall be applicable to the procurement of goods
and services necessary for carrying out the provisions of
this Act.
(b) EQUAL
EMPLOYMENT
OPPORTUNITY.—Sub-
section (a) shall not relieve any person entering into a con-
tract under the authority of this Act from complying with
any law relating to equal employment opportunity.
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