I 
111TH CONGRESS 
2D SESSION 
H. R. 6149 
To require disclosures to consumers by coin and precious metal bullion 
dealers. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 16, 2010 
Mr. WEINER introduced the following bill; which was referred to the 
Committee on Energy and Commerce 
A BILL 
To require disclosures to consumers by coin and precious 
metal bullion dealers. 
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 ‘‘Coin and Precious 
Metal Disclosure Act’’. 
SEC. 2. DISCLOSURES REQUIRED OF COIN AND PRECIOUS 
METAL DEALERS. 
(a) UNLAWFUL CONDUCT.—A covered coin or pre-
cious metal dealer shall disclose to the consumer, prior to 
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any sale of coins or precious metal bullion, the following 
information: 
(1) Any fee that is or may be incurred by the 
customer if the sale of the coin or precious metal 
bullion were to be consummated. 
(2) The purchase price, the melt value, and the 
reasonable resale value of the coin or precious metal 
bullion. 
(3) Such other information as the Commission 
may require by regulation (in accordance with sec-
tion 553 of title 5, United States Code). 
(b) MANNER OF DISCLOSURE.— 
(1) IN GENERAL.—Except as provided in para-
graph (2), the disclosures required under subsection 
(a) shall be in writing and present the information 
clearly and conspicuously. 
(2) TELEPHONE COMMUNICATION.—In any so-
licitation made by telephone for any sale subject to 
subsection (a), the person making the solicitation 
shall orally disclose the information required by such 
subsection clearly and conspicuously to the consumer 
before the transaction is consummated. 
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SEC. 3. ENFORCEMENT BY THE FEDERAL TRADE COMMIS-
SION. 
(a) UNFAIR AND DECEPTIVE ACT OR PRACTICE.— 
A violation of this Act or a regulation issued pursuant to 
this Act shall be treated as an unfair or deceptive act or 
practice in violation of a regulation under section 
18(a)(1)(B) of the Federal Trade Commission Act (15 
U.S.C. 57a(a)(1)(B)) regarding unfair or deceptive acts 
or practices. 
(b) POWERS
OF COMMISSION.—The Commission 
shall enforce this Act in the same manner, by the same 
means, and with the same jurisdiction, powers, and duties 
as though all applicable terms and provisions of the Fed-
eral Trade Commission Act (15 U.S.C. 41 et seq.) were 
incorporated into and made a part of this Act. Any person 
who violates this Act shall be subject to the penalties and 
entitled to the privileges and immunities provided in that 
Act. 
SEC. 4. ENFORCEMENT BY STATES. 
(a) IN GENERAL.—Whenever an attorney general of 
any State has reason to believe that the interests of the 
residents of that State have been or are being threatened 
or adversely affected because any person has engaged or 
is engaging in an act or practice which violates section 
2 or any rule of the Commission issued pursuant to this 
Act, the State, as parens patriae, may bring a civil action 
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on behalf of its residents in an appropriate district court 
of the United States to enjoin such violative act or prac-
tice, to enforce compliance with such rule of the Commis-
sion, to obtain damages, restitution, or other compensa-
tion on behalf of residents of such State, or to obtain such 
further and other relief as the court may determine appro-
priate. 
(b) NOTICE.—The State shall provide prior written 
notice of any civil action under subsection (a) or (f)(2) 
to the Commission and provide the Commission with a 
copy of its complaint, except that if it is not feasible for 
the State to provide such prior notice, the State shall pro-
vide such notice immediately upon instituting such action. 
Upon receiving a notice respecting a civil action, the Com-
mission shall have the right— 
(1) to intervene in such action; 
(2) upon so intervening, to be heard on all mat-
ters arising therein; 
(3) to remove the action to the appropriate 
United States district court; and 
(4) to file petitions for appeal. 
(c) CONSTRUCTION.—For purposes of bringing any 
civil action under subsection (a), nothing in this Act shall 
prevent an attorney general from exercising the powers 
conferred on the attorney general by the laws of such 
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State to conduct investigations or to administer oaths or 
affirmations or to compel the attendance of witnesses or 
the production of documentary and other evidence. 
(d) ACTIONS BY COMMISSION.—Whenever a civil ac-
tion has been instituted by or on behalf of the Commission 
for violation of section 2 or any rule issued pursuant to 
this Act, no State may, during the pendency of such action 
instituted by or on behalf of the Commission, institute a 
civil action under subsection (a) or (f)(2) of this section 
against any defendant named in the complaint in such ac-
tion for violation of any rule as alleged in such complaint. 
(e) VENUE; SERVICE OF PROCESS.—Any civil action 
brought under subsection (a) of this section in a district 
court of the United States may be brought in the district 
in which the defendant is found, is an inhabitant, or trans-
acts business or wherever venue is proper under section 
1391 of title 28, United States Code. Process in such an 
action may be served in any district in which the defend-
ant is an inhabitant or in which the defendant may be 
found. 
(f) ACTIONS BY OTHER STATE OFFICIALS.— 
(1) CONSTRUCTION.—Nothing contained in this 
section shall prohibit an authorized State official 
from proceeding in State court on the basis of an al-
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SEC. 6. EXEMPTION AND RULE OF CONSTRUCTION. 
(a) 
EXEMPTION
FOR
CERTAIN
COLLECTIBLE 
COINS.—Nothing in this Act shall apply to the sale of rare 
and collectable coins— 
(1) the precious metal content of which con-
stitutes only a limited or insignificant portion of the 
overall value of the coin; and 
(2) whose value is not affected by the increase 
or decline in the value of such precious metals. 
(b) RULE
OF CONSTRUCTION RELATING
TO
THE 
TELEMARKETING SALES RULE.—Nothing in this Act 
shall be construed to affect the Telemarketing Sales Rule 
as set forth in part 310 of title 16, Code of Federal Regu-
lations. 
Æ 
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