ber of $1 coins that shall be issued with each of 
the designs selected for each year of the period re-
ferred to in paragraph (1). 
‘‘(5) ISSUANCE OF NUMISMATIC COINS.—The Sec-
retary may mint and issue such number of $1 coins 
of each design selected under this subsection in uncir-
culated and proof qualities as the Secretary deter-
mines to be appropriate. 
‘‘(6) TERMINATION OF PROGRAM.—The issuance 
of coins under this subsection shall terminate when 
each President who has finished such President’s pe-
riod of service has been so honored and may not be 
resumed except by an Act of Congress. 
‘‘(7) REVERSION TO PRECEDING DESIGN.—Upon 
the termination of the issuance of coins under this 
subsection, the design of the $1 coin shall revert to the 
design on $1 coins being issued immediately before 
the issuance of coins under this subsection.’’. 
SEC. 4. FIRST SPOUSE BULLION COIN PROGRAM. 
Section 5112 of title 31, United States Code, is amend-
ed by inserting after subsection (n) (as added by section 
3 of this Act) the following new subsection: 
‘‘(o) FIRST SPOUSE BULLION COIN PROGRAM.— 
‘‘(1) IN GENERAL.—During the same period in 
which the $1 coins are issued under subsection (n)
which are emblematic of the Presidents of the United 
States, the Secretary of the Treasury shall issue bullion 
coins under this subsection that are emblematic of the 
spouse of each such President. 
‘‘(2) SPECIFICATIONS.—The coins issued under 
this subsection shall— 
‘‘(A) have the same diameter as the $1 coins 
described in subsection (n); 
‘‘(B) weigh 0.5 ounce; and 
‘‘(C) contain 99.99 percent pure gold. 
‘‘(3) DESIGN REQUIREMENTS.— 
‘‘(A) COIN OBVERSE.—The design on the ob-
verse of each coin issued under this subsection 
shall contain— 
‘‘(i) the name and likeness of a person 
who was a spouse of a President during the 
President’s period of service; 
‘‘(ii) an inscription of the years during 
which such person was the spouse of a 
President during the President’s period of 
service; and 
‘‘(iii) the number indicating the order 
of the period of service in which such Presi-
dent served.
‘‘(B) COIN REVERSE.—The design on the re-
verse of each coin issued under this subsection 
shall bear— 
‘‘(i) images emblematic of the life and 
work of the First Spouse whose image is 
borne on the obverse; and 
‘‘(ii) the inscription ‘United States of 
America’. 
‘‘(C) DESIGNATED
DENOMINATION.—Each 
coin issued under this subsection shall bear, on 
the reverse, an inscription of the nominal de-
nomination of the coin which shall be ‘$10’. 
‘‘(D) DESIGN
IN
CASE
OF
NO
FIRST 
SPOUSE.—In the case of any President who 
served without a spouse— 
‘‘(i) the image on the obverse of the 
bullion coin corresponding to the $1 coin re-
lating to such President shall be an image 
emblematic of the concept of ‘Liberty’— 
‘‘(I) as represented on a United 
States coin issued during the period of 
service of such President; or 
‘‘(II) as represented, in the case of 
President Chester Alan Arthur, by a 
design incorporating the name and
likeness of Alice Paul, a leading strate-
gist in the suffrage movement, who was 
instrumental in gaining women the 
right to vote upon the adoption of the 
19th amendment and thus participate 
in the election of future Presidents, 
and who was born on January 11, 
1885, during the term of President Ar-
thur; and 
‘‘(ii) the reverse of such bullion coin 
shall be of a design representative of themes 
of such President, except that in the case of 
the bullion coin referred to in clause (i)(II) 
the reverse of such coin shall be representa-
tive of the suffrage movement. 
‘‘(E) 
DESIGN
AND
COIN
FOR
EACH 
SPOUSE.—A separate coin shall be designed and 
issued under this section for each person who 
was the spouse of a President during any por-
tion of a term of office of such President. 
‘‘(F) INSCRIPTIONS.—Each bullion coin 
issued under this subsection shall bear the in-
scription of the year of minting or issuance of 
the coin and such other inscriptions as the Sec-
retary may determine to be appropriate.
‘‘(4) SALE
OF
BULLION
COINS.—Each bullion 
coin issued under this subsection shall be sold for an 
amount the Secretary of the Treasury determines to 
be appropriate that is equal to or greater than the 
sum of— 
‘‘(A) the face value of the coins; and 
‘‘(B) the cost of designing and issuing the 
coins (including labor, materials, dies, use of 
machinery, overhead expenses, marketing, and 
shipping). 
‘‘(5) ISSUANCE OF COINS COMMEMORATING FIRST 
SPOUSES.— 
‘‘(A) IN
GENERAL.—The bullion coins 
issued under this subsection with respect to any 
spouse of a President shall be issued on the same 
schedule as the $1 coin issued under subsection 
(n) with respect to such President. 
‘‘(B) MAXIMUM NUMBER OF BULLION COINS 
FOR EACH DESIGN.—The Secretary shall— 
‘‘(i) prescribe, on the basis of such fac-
tors as the Secretary determines to be ap-
propriate, the maximum number of bullion 
coins that shall be issued with each of the 
designs selected under this subsection; and
‘‘(ii) announce, before the issuance of 
the bullion coins of each such design, the 
maximum number of bullions coins of that 
design that will be issued. 
‘‘(C) TERMINATION OF PROGRAM.—No bul-
lion coin may be issued under this subsection 
after the design on the $1 coin reverts, in accord-
ance with subsection (n)(7), to the design on $1 
coins being issued immediately before the 
issuance of coins under subsection (n). 
‘‘(6) QUALITY OF COINS.—The bullion coins shall 
be issued in both proof and uncirculated qualities. 
‘‘(7) SOURCE OF GOLD BULLION.—The Secretary 
shall acquire gold for the coins issued under this sub-
section by purchase of gold mined from natural de-
posits in the United States, or in a territory or pos-
session of the United States, within 1 year after the 
month in which the ore from which it is derived was 
mined. The Secretary shall pay not more than the av-
erage world price for the gold. 
‘‘(8) BRONZE
MEDALS.—The Secretary may 
strike and sell bronze medals that bear the likeness of 
the bullion coins authorized under this subsection, at 
a price, size, and weight, and with such inscriptions, 
as the Secretary determines to be appropriate.’’.
SEC. 5. SENSE OF THE CONGRESS. 
It is the sense of the Congress that— 
(1) the American tradition of not issuing a coin 
with the image of a living person has served the coun-
try well and deserves to be continued as a general 
practice; 
(2) the full circulation potential and cost-savings 
benefit projections for the presidential $1 coin pro-
gram are not likely to be achieved unless the coins are 
delivered in ways useful to ordinary commerce; 
(3) in order for the Presidential $1 Coin Pro-
gram to achieve maximum success— 
(A) the coin should be as attractive as pos-
sible; and 
(B) the Director of the United States Mint 
should take all reasonable steps to ensure that the 
coins described in section 5112(n) of title 31, 
United States Code, remain tarnish-free for as 
long as possible without incurring undue ex-
pense; 
(4) if the Secretary of the Treasury determines 
to include on any $1 coin minted under section 
5112(n) of title 31, United States Code (as added by 
section 3 of this Act) a mark denoting the United 
States Mint facility at which the coin was struck, 
such mark should be edge-incused;
(5) at such time as the Board of Governors of the 
Federal Reserve System determines to be appropriate, 
after consultation with the Secretary of the Treasury 
and the submission of notice to the Congress, the 
Board should separate and sequester, and not put 
back into circulation, any $1 coin that comes into the 
possession of the Board or any Federal reserve bank 
and does not bear— 
(A) a design specified under section 5112(n) 
of title 31, United States Code; or 
(B) the design referred to in paragraph (7) 
of such section; 
(6) in connection with the introduction of the $1 
coins under the presidential $1 coin program— 
(A) the coins should not be introduced with 
an overly expensive taxpayer-funded public rela-
tions campaign; and 
(B) the Director of the United States Mint, 
a bureau in the Department of the Treasury, 
should work with consumer groups, media out-
lets, and schools to ensure an adequate amount 
of news coverage about the start of the coin pro-
gram so consumers will know of the availability 
of the coins;
(7) the Board of Governors of the Federal Re-
serve System and the Secretary of the Treasury 
should take steps to ensure that an adequate supply 
of $1 coins are available for commerce and collectors 
at such places and in such quantities as are appro-
priate by— 
(A) meeting, at least monthly on a regular 
basis, with a coin users group that includes rep-
resentatives of merchants who would benefit from 
the increased usage of $1 coins, vending machine 
and other coin acceptor manufacturers, vending 
machine owners and operators, transit officials, 
municipal parking officials, depository institu-
tions, coin and currency handlers, armored-car 
operators, and coin collectors and dealers to ac-
curately gauge demand for coins and to antici-
pate and eliminate obstacles to the easy and effi-
cient distribution and circulation of coins issued 
under the Presidential $1 Coin Program as well 
as all other circulating coins; 
(B) submitting a semiannual report to the 
Congress containing an assessment of the re-
maining obstacles to the efficient and timely cir-
culation of coins, and particularly coins issued 
under the Presidential $1 Coin Program, to-
gether with such recommendations for legislative 
action the Board and the Secretary may deter-
mine to be appropriate; 
(C) ensuring that as many vending ma-
chines and other automated coin-accepting de-
vices in the United States as possible accept 
coins issued under the Presidential $1 Coin Pro-
gram and carry notices of such acceptability; 
and 
(D) ensuring that— 
(i) all institutions that want unmixed 
supplies of each newly-issued design of $1 
coins under the Presidential $1 Coin Pro-
gram are able to obtain such unmixed sup-
plies; and 
(ii) circulating coins will be available 
for ordinary commerce in packaging of sizes 
and types appropriate for and useful to or-
dinary commerce, including rolled coins; 
and 
(8) the Director of the United States Mint should 
take all steps necessary to expand the marketplace for 
bullion coins, and reduce barriers to the sale of bul-
lion coins, by ensuring that—
(A) the greatest number possible of rep-
utable, reliable, and responsible dealers are 
qualified to offer for sale all bullion coins struck 
and issued by the United States Mint; and 
(B) all such dealers and their customers 
have equal and timely access to all new issues of 
such bullion coins.
Calendar No. 331 
108TH CONGRESS 
2D SESSION 
H. R. 3916 
[Report No. 108–568] 
A BILL 
To improve circulation of the $1 coin, create a new 
bullion coin, and for other purposes. 
JUNE 24, 2004 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed