IB 
Union Calendar No. 331 
108TH CONGRESS 
2D SESSION 
H. R. 3916 
[Report No. 108–568] 
To improve circulation of the $1 coin, create a new bullion coin, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 9, 2004 
Mr. CASTLE (for himself and Mrs. MALONEY) introduced the following bill; 
which was referred to the Committee on Financial Services 
JUNE 24, 2004 
Additional sponsors: Mr. PITTS, Mr. BEREUTER, Mr. SHIMKUS, Mr. GILLMOR, 
Mr. ENGLISH, Mr. LEACH, Mr. COSTELLO, Mr. HOUGHTON, and Ms. PELOSI 
JUNE 24, 2004 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
[For text of introduced bill, see copy of bill as introduced on March 9, 2004] 
A BILL 
To improve circulation of the $1 coin, create a new bullion 
coin, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SEC. 1. SHORT TITLE. 
This Act may be cited as the ‘‘Presidential $1 Coin 
Act of 2004’’ . 
SEC. 2. FINDINGS. 
The Congress finds as follows: 
(1) There are sectors of the United States econ-
omy, including public transportation, parking meters, 
vending machines and low-dollar value transactions, 
in which the use of a $1 coin is both useful and desir-
able for keeping costs and prices down. 
(2) For a variety of reasons, the new $1 coin in-
troduced in 2000 has not been widely sought-after by 
the public, leading to higher costs for merchants and 
thus higher prices for consumers. 
(3) The success of the 50 States Commemorative 
Coin Program for circulating quarter dollars shows 
that a rotating design on a United States circulating 
coin radically increases demand for the coin, rapidly 
pulling it through the economy. 
(4) The 50 States Commemorative Coin Program 
also has been an educational tool, teaching both 
Americans and visitors something about each State 
for which a quarter has been issued. 
(5) A national survey and study by the General 
Accounting Office has indicated that many Ameri-
cans who do not seek, or who reject, the new $1 coin
for use in commerce would actively seek the coin if an 
attractive, educational rotating design were to be 
struck on the coin. 
(6) The President is the leader of our tripartite 
government and the President’s spouse has often set 
the social tone for the White House while spear-
heading and highlighting important issues for the 
country. 
(7) Many people cannot name all of the Presi-
dents, and fewer can name the spouses, nor can many 
people accurately place each President in the proper 
time period of American history. 
(8) First Spouses have not generally been recog-
nized on American coinage. 
(9) Sacagewea, as currently represented on the 
new $1 coin, is an important symbol of American 
history. 
(10) In order to revitalize the design of United 
States coinage and return circulating coinage to its 
position as not only a necessary means of exchange 
in commerce but also as an object of aesthetic beauty 
in its own right, it is appropriate to move many of 
the mottos and emblems, the inscription of the year, 
and the so-called ‘‘mint marks’’ that currently appear 
on the 2 faces of each circulating coin to the edge of
the coin, which would allow larger and more dra-
matic artwork on the coins reminiscent of the so- 
called ‘‘Golden Age of Coinage’’ in the United States, 
at the beginning of the Twentieth Century, initiated 
by President Theodore Roosevelt, with the assistance 
of noted sculptors and medallic artists James Earle 
Fraser and Augustus St. Gaudens. 
(11) Placing inscriptions on the edge of coins, 
known as edge-incusing, is a hallmark of modern 
coinage and is common in large-volume production of 
coinage elsewhere in the world, such as the 
2,700,000,000 2-Euro coins in circulation and coins 
of the People’s Republic of China, but it has not been 
done on a large scale in United States coinage in re-
cent years. 
(12) Bullion coins are a valuable tool for the in-
vestor and, in some cases, an important aspect of coin 
collecting. 
(13) Although the Congress has authorized the 
Secretary of the Treasury to issue gold coins with a 
purity of 99.99 percent, the Secretary has not done so. 
(14) By commencing the issuance of the presi-
dential $1 coins in 2006, coins issued in uncirculated 
or proof qualities that commemorate the presidency of 
Thomas Jefferson may appropriately be sold in sets
with the coins of similar qualities that are issued in 
2006 and commemorate the Lewis and Clark expedi-
tion, together with $1 coins that bear the image of 
Sacagewea and are struck for numismatic purposes 
under section 5112(n)(1)(B) of title 31, United States 
Code (as amended by section 3 of this Act). 
SEC. 3. PRESIDENTIAL $1 COIN PROGRAM. 
Section 5112 of title 31, United States Code, is amend-
ed by inserting after subsection (m) the following new sub-
section: 
‘‘(n) REDESIGN AND ISSUANCE OF CIRCULATING $1 
COINS HONORING EACH OF THE PRESIDENTS OF THE 
UNITED STATES.— 
‘‘(1) REDESIGN BEGINNING IN 2006.— 
‘‘(A) IN
GENERAL.—Notwithstanding sub-
section (d) and in accordance with the provisions 
of this subsection, $1 coins issued during the pe-
riod beginning January 1, 2006, and ending 
upon the termination of the program under 
paragraph (6) shall have designs on the obverse 
selected in accordance with paragraph (2)(B) 
which are emblematic of the Presidents of the 
United States and a design on the reverse se-
lected in accordance with paragraph (2)(A).
‘‘(B) 
TRANSITION
PROVISION.—Notwith-
standing subparagraph (A), the Secretary may 
continue to mint and issue $1 coins in 2006 
which bear the design in effect before the redesign 
required under this subsection, as required for 
numismatic purposes and to ensure a smooth 
transition into the presidential coin program 
under this subsection. 
‘‘(2) DESIGN
REQUIREMENTS.—The $1 coins 
issued in accordance with paragraph (1)(A) shall 
meet the following design requirements: 
‘‘(A) COIN REVERSE.—The design on the re-
verse shall bear— 
‘‘(i) a likeness of the Statue of Liberty 
extending to the rim of the coin and large 
enough to provide a dramatic representa-
tion of Liberty while not being large enough 
to create the impression of a ‘2-headed’ coin; 
‘‘(ii) the inscription ‘$1’ ; and 
‘‘(iii) the inscription ‘United States of 
America’. 
‘‘(B) COIN OBVERSE.—The design on the ob-
verse shall contain the name and likeness of a 
President of the United States and basic infor-
mation about the President, including the dates
or years of the term of office of such President 
and a number indicating the order of the period 
of service in which the President served. 
‘‘(C) EDGE-INCUSED
INSCRIPTIONS.—The 
inscription of the year of minting or issuance of 
the coin and the inscriptions ‘E Pluribus Unum’ 
and ‘In God We Trust’ shall be edge-incused into 
the coin. 
‘‘(D) INSCRIPTIONS
OF
‘LIBERTY’.—Not-
withstanding the 2d sentence of subsection (d)(1), 
because the use of a design bearing the likeness 
of the Statue of Liberty on the reverse of the 
coins issued under this subsection adequately 
conveys the concept of Liberty, the inscription of 
‘Liberty’ shall not appear on the coins. 
‘‘(E) PROHIBITION ON SITTING PRESIDENT 
IN SERIES.—No coin issued under this subsection 
may bear the image of a President who has not 
completed such President’s period of service. 
‘‘(3) ISSUANCE
OF
COINS
COMMEMORATING 
PRESIDENTS.— 
‘‘(A) ORDER
OF
ISSUANCE.—The coins 
issued under this subsection commemorating 
Presidents of the United States shall be issued in 
the order of the period of service of each Presi-