I
104TH CONGRESS
2D SESSION
H. R. 3615
To amend the Harmonized Tariff Schedule of the United States to correct
the tariff treatment of certain silver and gold bars, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
JUNE 11, 1996
Mrs. VUCANOVICH (for herself, Mr. ENSIGN and Mr. HAYES) introduced the
following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Harmonized Tariff Schedule of the United
States to correct the tariff treatment of certain silver
and gold bars, and for other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. TARIFF TREATMENT OF CERTAIN SILVER AND
GOLD BARS.
(a) IN GENERAL.—Subchapter II of chapter 71 of
the Harmonized Tariff Schedule of the United States is
amended—
(1) by striking subheading 7106.92.00 and in-
serting in numerical sequence the following new sub-
headings and superior text thereto, with such text
having the same degree of indentation as subheading
7106.91:
‘‘
7106.92
Semimanufactured:
7106.92.10
In bar or bar-like shape,
having a purity of 99.5
percent or higher and not
otherwise marked or deco-
rated than with weight,
purity or other identifying
information .......................
Free
Free
7106.92.50
Other: ...............................
4.8%
Free (A, CA,
E, IL, J, MX)
65%
’’;
(2) by striking subheading 7108.13.50 and in-
serting in numerical sequence the following new sub-
headings and superior text thereto, with such text
having the same degree of indentation as subheading
7108.13.10:
‘‘
7108.13.55
Other:
In 
bar 
or 
bar-like
shape, having a purity
of 
99.5 
percent 
or
higher and not other-
wise marked or deco-
rated than with weight,
purity or other identi-
fying information ........
Free
Free
7108.13.70
Other ...........................
6.6%
Free (CA, E,
IL, J, MX)
65%
’’;
and
(3) by striking subheadings 7115.90.10 through
7115.90.50 and inserting in numerical sequence the
following new subheadings and superior text, with
the article description for subheading 7115.90.15
having the same degree of indentation as the article
description of subheading 7116.10.10:
‘‘
7115.90.15
Gold, not clad with precious
metal, in bar or bar-like
shape, having a purity of
99.5 percent or higher and
not otherwise marked or
decorated than with weight,
purity or other identifying
information ...........................
Free
Free
7115.90.25
Silver, not clad with precious
metal, in bar or bar-like
shape, having a purity of
99.5 percent or higher and
not otherwise marked or
decorated than with weight,
purity or other identifying
information ...........................
Free
Free
Other:
7115.90.30
Of gold, including metal
clad with gold ...................
6.2%
Free (A, CA,
E, IL, J, MX)
110%
7115.90.40
Of silver, including metal
clad with silver .................
4.8%
Free (A, CA,
E, IL, J, MX)
65%
7115.90.60
Other ................................
6.4%
Free (A, CA,
E, IL, J, MX)
65%
’’.
(b) STAGED RATE REDUCTIONS.—Any staged rate
reduction that was proclaimed by the President before the
date of the enactment of this Act to take effect on or after
the date of the enactment of this Act—
(1) of a rate of duty set forth in subheading
7106.92.00 of the Harmonized Tariff Schedule of
the United States shall apply to the corresponding
rate of duty in subheading 7106.92.50 of such
Schedule (as added by subsection (a)(1));
(2) of a rate of duty set forth in subheading
7108.13.50 shall apply to the corresponding rate of
duty in subheading 7108.13.70 of such Schedule (as
added by subsection (a)(2));
(3) of a rate of duty set forth in subheading
7115.90.10 shall apply to the corresponding rate of
duty in subheading 7115.90.30 of such Schedule (as
added by subsection (a)(3));
(4) of a rate of duty set forth in subheading
7115.90.20 shall apply to the corresponding rate of
duty in subheading 7115.90.40 of such Schedule (as
added by subsection (a)(3)); and
(5) of a rate of duty set forth in subheading
7115.90.50 shall apply to the corresponding rate of
duty in subheading 7115.90.60 of such Schedule (as
added by subsection (a)(3)).
(c) EFFECTIVE DATE.—The amendments made by
this section shall apply with respect to goods that are en-
tered, or withdrawn from warehouse for consumption, on
or after the date that is 15 days after the date of enact-
ment of this Act.
SEC. 2. CERTAIN COINS AND BULLION NOT TREATED AS
COLLECTIBLES.
(a) IN GENERAL.—Paragraph (3) of section 408(m)
of the Internal Revenue Code of 1986 (relating to excep-
tion for certain coins) is amended to read as follows:
‘‘(3) EXCEPTION FOR CERTAIN COINS AND BUL-
LION.—For purposes of this subsection, the term
‘collectible’ shall not include—
‘‘(A) any coin certified by a recognized
grading service and traded on a nationally rec-
ognized electronic network, or listed by a recog-
nized wholesale reporting service, and—
‘‘(i) which is or was at any time legal
tender in the country of issuance, or
‘‘(ii) issued under the laws of any
State, and
‘‘(B) any gold, silver, platinum, or palla-
dium bullion (whether fabricated in the form of
a coin or otherwise) of a fineness equal to or
exceeding the minimum fineness required for
metals which may be delivered in satisfaction of
a regulated futures contract (as defined in sec-
tion 1256(g)(1)) traded on a contract market
designated by the Commodity Futures Trading
Commission under the Commodity Exchange
Act,
if such coin or bullion is in the physical possession
of a trustee described under subsection (a) of this
section.’’
(b) EFFECTIVE DATE.—The amendment made by
this section shall apply to taxable years beginning after
December 31, 1995.
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