H. R. 2627
One Hundred Fourth Congress
of the
United States of America
AT THE FIRST SESSION
Begun and held at the City of Washington on Wednesday,
the fourth day of January, one thousand nine hundred and ninety-five
An Act
To require the Secretary of the Treasury to mint coins in commemoration of the
sesquicentennial of the founding of the Smithsonian Institution.
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Smithsonian Institution Sesqui-
centennial Commemorative Coin Act of 1995’’.
SEC. 2. COIN SPECIFICATIONS.
(a) DENOMINATIONS.—The Secretary of the Treasury (hereafter
in this Act referred to as the ‘‘Secretary’’) shall mint and issue
the following coins in commemoration of the sesquicentennial of
the founding of the Smithsonian Institution:
(1) $5 GOLD COINS.—Not more than 100,000 5 dollar 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 650,000 1 dollar coins,
which shall—
(A) weigh 26.73 grams;
(B) have a diameter of 1.500 inches; and
(C) contain 90 percent silver and 10 percent copper.
(b) PLATINUM COINS.—The Secretary may mint and issue not
more than 100,000 5 dollar platinum coins instead of the gold
coins required under subsection (a)(1) in accordance with such
specifications as the Secretary determines to be appropriate.
(c) LEGAL TENDER.—The coins minted under this Act shall
be legal tender, as provided in section 5103 of title 31, United
States Code.
(d) NUMISMATIC ITEMS.—For purposes of section 5134 of title
31, United States Code, all coins minted under this Act shall
be considered to be numismatic items.
SEC. 3. SOURCES OF BULLION.
(a) GOLD.—The Secretary shall obtain gold for minting 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 only from stockpiles established under the Strategic
and Critical Materials Stock Piling Act.
SEC. 4. DESIGN OF COINS.
(a) DESIGN REQUIREMENTS.—
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(1) IN GENERAL.—The design of the coins minted under
this Act shall be emblematic of the scientific, educational, and
cultural significance and importance of the Smithsonian Institu-
tion.
(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 ‘‘1996’’;
(C) inscriptions of the words ‘‘Liberty’’, ‘‘In God We
Trust’’, ‘‘United States of America’’, and ‘‘E Pluribus
Unum’’; and
(D) an inscription of the following phrase from the
original bequest of James Smithson: ‘‘for the increase and
diffusion of knowledge’’.
(b) SELECTION.—The design for the coins minted under this
Act shall be—
(1) selected by the Secretary after consultation with the
Board of Regents of the Smithsonian Institution 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 combination 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 1-year period beginning
on August 1, 1996.
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 prepaid orders
under paragraph (1) shall be at a reasonable discount.
(d) SURCHARGES.—All sales shall include a surcharge of—
(1) $35 per coin for the $5 coin; and
(2) $10 per coin for the $1 coin.
SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.
(a) IN GENERAL.—Except as provided in subsection (b), no provi-
sion 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.
H. R. 2627—3
(b) EQUAL EMPLOYMENT OPPORTUNITY.—Subsection (a) shall
not relieve any person entering into a contract under the authority
of this Act from complying with any law relating to equal employ-
ment opportunity.
SEC. 8. DISTRIBUTION OF SURCHARGES.
(a) IN GENERAL.—All surcharges received by the Secretary from
the sale of coins issued under this Act shall be promptly paid
by the Secretary to the Smithsonian Institution for the following
purposes:
(1) 85 percent of the amount transferred shall be available
for such purposes as the Board of Regents of the Smithsonian
Institution determines to be appropriate.
(2) 15 percent of the amount transferred shall be dedicated
to the support of the operation and activities of the National
Numismatic Collection at the National Museum of American
History.
(b) AUDITS.—The Comptroller General of the United States
shall have the right to examine such books, records, documents,
and other data of the Smithsonian Institution as may be related
to the expenditures of amounts paid under subsection (a).
SEC. 9. FINANCIAL ASSURANCES.
(a) NO NET COST TO THE GOVERNMENT.—The Secretary shall
take such actions as may be necessary to ensure that minting
and issuing coins under this Act will not result in any net cost
to the United States Government.
(b) PAYMENT FOR COINS.—A coin shall not be issued under
this Act unless the Secretary has received—
(1) full payment for the coin;
(2) security satisfactory to the Secretary to indemnify the
United States for full payment; or
(3) a guarantee of full payment satisfactory to the Secretary
from a depository institution whose deposits are insured by
the Federal Deposit Insurance Corporation or the National
Credit Union Administration Board.
Speaker of the House of Representatives.
Vice President of the United States and
President of the Senate.