history of the world and paved the way for the
United States to become a great world power.
SEC. 3. COIN SPECIFICATIONS.
(a) DENOMINATION.—In commemoration of the bi-
centennial of the Lewis and Clark expedition, the Sec-
retary of the Treasury (hereafter in this Act referred to
as the ‘‘Secretary’’) shall mint and issue not more than
500,000 $1 coins, each of 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. 4. 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. 5. DESIGN OF COINS.
(a) DESIGN REQUIREMENTS.—
(1) IN
GENERAL.—The design of the coins
minted under this Act shall be emblematic of the ex-
pedition of Lewis and Clark.
(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 ‘‘2004’’ and
the years ‘‘1804–1806’’; and
(C) inscriptions of the words ‘‘Liberty’’,
‘‘In God We Trust’’, ‘‘United States of Amer-
ica’’, and ‘‘E Pluribus Unum’’.
(3) OBVERSE OF COIN.—The obverse of each
coin minted under this Act shall bear the likeness of
Meriwether Lewis and William Clark.
(4) GENERAL DESIGN.—In designing this coin,
the Secretary shall also consider incorporating ap-
propriate elements from the Jefferson Peace and
Friendship Medal which Lewis and Clark presented
to the Chiefs of the various Indian tribes they en-
countered and shall consider recognizing Native
American culture.
(b) SELECTION.—The design for the coins minted
under this Act shall be selected by the Secretary after con-
sultation with the Commission of Fine Arts and shall be
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) PERIOD
FOR ISSUANCE.—The Secretary may
issue coins minted under this Act only during the period
beginning on January 1, 2004, and ending on December
31, 2004.
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 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 pre-
paid orders under paragraph (1) shall be at a rea-
sonable discount.
(d) SURCHARGES.—All sales of coins minted under
this Act shall include a surcharge of $10 per coin.
SEC. 8. DISTRIBUTION OF SURCHARGES.
(a) IN GENERAL.—Subject to section 5134(f) of title
31, United States Code, the proceeds from the surcharges
received by the Secretary from the sale of coins issued
under this Act shall be promptly paid by the Secretary
as follows:
(1) NATIONAL LEWIS AND CLARK BICENTEN-
NIAL COUNCIL.—2⁄3 to the National Lewis and Clark
Bicentennial Council, for activities associated with
commemorating the bicentennial of the Expedition.
(2) NATIONAL PARK SERVICE.—1⁄3 to the Na-
tional Park Service for activities associated with
commemorating the bicentennial of the Lewis and
Clark Expedition.
(b) AUDITS.—Each organization that receives any
payment from the Secretary under this section shall be
subject to the audit requirements of section 5134(f)(2) of
title 31, United States Code.
SEC. 9. FINANCIAL ASSURANCES.
(a) NO NET COST TO THE GOVERNMENT.—The Sec-
retary shall take such actions as may be necessary to en-
sure that minting and issuing coins under this Act will
not result in any net cost to the United States Govern-
ment.
(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 in-
demnify 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 Insur-
ance Corporation or the National Credit Union Ad-
ministration Board.
Æ