I
106TH CONGRESS
2D SESSION
H. R. 3633
To require the Secretary of the Treasury to mint coins in commemoration
of Dr. Martin Luther King, Jr.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 10, 2000
Mr. LEACH (for himself, Mr. BACHUS, and Mr. WATTS of Oklahoma) intro-
duced 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 commemoration of Dr. Martin Luther King, Jr.
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 ‘‘Dr. Martin Luther
King, Jr., Commemorative Coin Act’’.
SEC. 2. FINDINGS.
The Congress hereby finds as follows:
(1) Dr. Martin Luther King, Jr., dedicated his
life to securing the Nation’s fundamental principles
of liberty and justice for all its citizens.
(2) Dr. Martin Luther King, Jr., was the lead-
ing civil rights advocate of his time, spearheading
the civil rights movement in the United States dur-
ing the 1950’s and 1960’s.
(3) Dr. Martin Luther King, Jr., was the key-
note speaker at the August, 28, 1963, March on
Washington, the largest rally of the civil rights
movement, during which, from the steps of the Lin-
coln Memorial and before a crowd of over 200,000
people, he delivered his famous ‘‘I Have A Dream’’
speech, one of the classic orations in American his-
tory.
(4) Dr. Martin Luther King, Jr., was a cham-
pion of nonviolence, fervently advocated nonviolent
resistance as the strategy to end segregation and ra-
cial discrimination in America, and was awarded the
1964 Nobel Peace Prize in recognition for his ef-
forts.
(5) All Americans should commemorate the leg-
acy of Martin Luther King, Jr. so ‘‘that one day
this Nation will rise up and live out the true mean-
ing of its creed: ‘We hold these truths to be self-evi-
dent; that all men are created equal.’ ’’.
(6) Efforts are underway to secure the personal
papers of Dr. Martin Luther King, Jr., for the Li-
brary of Congress so that they may be preserved and
studied for generations to come.
SEC. 3. 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 50,000 $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 350,000
$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.
(3) HALF
DOLLAR
CLAD
COINS.—Not more
than 1,000,000 half dollar coins which shall—
(A) weigh 11.34 grams;
(B) have a diameter of 1.205 inches; and
(C) be minted to the specifications for half
dollar coins contained in section 5112(b) of title
31, United States Code.
(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 sections
5134 and 5136 of title 31, United States Code, all coins
minted under this Act shall be considered to be numis-
matic items.
SEC. 4. SOURCES OF BULLION.
(a) GOLD.—The Secretary shall obtain gold for mint-
ing coins under this Act pursuant to the authority of the
Secretary under other provisions of law.
(b) SILVER.—The Secretary shall obtain silver for
minting coins under this Act from any available source,
including from stockpiles established under the Strategic
and Critical Materials Stock Piling Act.
SEC. 5. DESIGN OF COINS.
(a) DESIGN REQUIREMENTS.—
(1) IN
GENERAL.—The design of the coins
minted under this Act shall be emblematic of the in-
spirational life and works of Dr. Martin Luther
King, Jr.
(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 ‘‘2003’’; 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 Commission of Fine Arts; and
(2) reviewed by the Citizens Commemorative
Coin Advisory Committee.
SEC. 6. 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 August
28, 2003.
(d) TERMINATION
OF MINTING AUTHORITY.—No
coins may be minted under this Act after December 31,
2003.
SEC. 7. 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 section 8(a) 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) MARKETING.—The Secretary, in cooperation with
the Legacy Fund of the Library of Congress, shall develop
and implement a marketing program to promote and sell
the coins issued under this Act both within the United
States and internationally.
SEC. 8. SURCHARGES.
(a) IN GENERAL.—All sales of coins minted under
this Act shall include a surcharge as follows:
(1) A surcharge of $35 per coin for the $5 coin.
(2) A surcharge of $10 per coin for the $1 coin.
(3) A surcharge of $3 per coin for the half dol-
lar coin.
(b) DISTRIBUTION.—Subject to section 5134(f) of
title 31, United States Code, all surcharges received by
the Secretary from the sale of coins issued under this Act
shall be promptly paid by the Secretary to the Dr. Martin
Luther King, Jr., Legacy Fund of the Library of Congress
for the purpose of securing the personal papers of Dr.
Martin Luther King, Jr., for the Library of Congress.
(c) AUDITS.—The Dr. Martin Luther King, Jr., Leg-
acy Fund 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 Fund under sub-
section (b).
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