I
107TH CONGRESS
2D SESSION
H. R. 5476
To require the Secretary of the Treasury to mint coins in commemoration
of the 100th anniversary of the beginning of Korean immigration into
the United States.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 26, 2002
Mr. ANDREWS (for himself and Mr. SAXTON) introduced the following bill;
which was referred to the Committee on Financial Services
A BILL
To require the Secretary of the Treasury to mint coins
in commemoration of the 100th anniversary of the begin-
ning of Korean immigration into the United States.
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 ‘‘Korean Immigration
Commemorative Coin Act’’.
SEC. 2. FINDINGS.
The Congress finds as follows:
(1) January 13, 2003, will mark the 100th an-
niversary of the first wave of Korean immigration to
the United States.
(2) At the time of this anniversary, more than
100 Korean American communities throughout this
Nation will commemorate this important event.
(3) According to immigration records, in De-
cember 1902, 56 men, 21 women, and 25 children
left Korea and sailed across the Pacific Ocean
aboard the S.S. Gaelic, landing in Honolulu, Hawaii,
on January 13, 1903.
(4) These early Korean immigrants worked at
sugar cane and pineapple fields in Hawaii.
(5) Since that 1st voyage, approximately
1,000,000 Koreans have immigrated to the United
States.
(6) Korean Americans have served with distinc-
tion in the U.S. Armed Forces during every war and
conflict in which the United States is or was in-
volved from World War I through the war in the
Persian Gulf and beyond.
(7) Korean Americans have taken root and
thrived in the United States through strong family
ties, robust community support, and countless hours
of hard work.
(8) Korean immigrants have invigorated busi-
ness, church, and academic communities throughout
the United States and Korean Americans have also
established themselves as important members in the
medical, legal, financial, and governmental profes-
sions.
(9) The strategic partnership between the
United States and Korea has helped undergird peace
and stability in the Asian Pacific region and has
provided economic benefits to not only the peoples of
the United States and Korea, but to the entire
world.
SEC. 3. COIN SPECIFICATIONS.
(a) $1 SILVER COINS.—The Secretary of the Treas-
ury (hereafter in this Act referred to as the ‘‘Secretary’’)
shall mint and issue not more than 500,000 1 dollar coins,
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
5134 of title 31, United States Code, all coins minted
under this Act shall be considered to be numismatic items.
SEC. 4. DESIGN OF COINS.
(a) DESIGN REQUIREMENTS.—
(1) IN
GENERAL.—The design of the coins
minted under this Act shall be emblematic of the im-
migration of Koreans into the United States and the
significant contributions of Korean Americans to
this Nation.
(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 selected by the Secretary after con-
sultation with the Commission of Fine Arts.
SEC. 5. ISSUANCE OF COINS.
(a) QUALITY OF COINS.—Coins minted under this
Act shall be issued in uncirculated and proof qualities.
(b) COMMENCEMENT OF ISSUANCE.—The Secretary
may issue coins minted under this Act beginning January
1, 2003, except that the Secretary may initiate sales of
such coins, without issuance, before such date.
(c) TERMINATION
OF MINTING AUTHORITY.—No
coins shall be minted under this Act after December 31,
2003.
SEC. 6. SALE OF COINS.
(a) SALE PRICE.—Notwithstanding any other provi-
sion of law, the coins issued under this Act shall be sold
by the Secretary at a price equal to the face value, plus
the cost of designing and issuing such coins (including
labor, materials, dies, use of machinery, overhead ex-
penses, and marketing).
(b) BULK SALES.—The Secretary shall make bulk
sales of the coins issued under this Act at a reasonable
discount.
(c) PREPAID ORDERS AT A DISCOUNT.—
(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.
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