SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘2002 Winter Olympic
Commemorative Coin Act’’.
SEC. 2. COIN SPECIFICATIONS.
(a) DENOMINATIONS.—The Secretary of the Treas-
ury (hereinafter in this Act referred to as the ‘‘Secretary’’)
shall mint and issue the following coins:
(1) FIVE DOLLAR GOLD COINS.—Not more than
80,000 $5 coins, which shall weigh 8.359 grams,
have a diameter of 0.850 inches, and contain 90 per-
cent gold and 10 percent alloy.
(2) ONE
DOLLAR
SILVER
COINS.—Not more
than 400,000 $1 coins, which shall weigh 26.73
grams, have a diameter of 1.500 inches, and contain
90 percent silver and 10 percent copper.
(b) DESIGN.—The design of the coins minted under
this Act shall be emblematic of the participation of Amer-
ican athletes in the 2002 Olympic Winter Games. On each
coin there shall be a designation of the value of the coin,
an inscription of the year ‘‘2002’’, and inscriptions of the
words ‘‘Liberty’’, ‘‘In God We Trust’’, ‘‘United States of
America’’, and ‘‘E Pluribus Unum’’.
(c) LEGAL TENDER.—The coins minted under this
Act shall be legal tender, as provided in section 5103 of
title 31, United States Code.
(d) 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. 3. SOURCES OF BULLION.
(a) GOLD.—The Secretary shall obtain gold for mint-
ing coins under this Act pursuant to the authority of the
Secretary under other provisions of law.
(b) SILVER.—The Secretary shall obtain silver for
minting coins under this Act from any available source,
including from stockpiles established under the Strategic
and Critical Materials Stock Piling Act.
SEC. 4. SELECTION OF DESIGN.
The design for the coins minted under this Act shall
be—
(1) selected by the Secretary after consultation
with—
(A) the Commission of Fine Arts;
(B) the United States Olympic Committee;
and
(C) Olympic Properties of the United
States—Salt Lake 2002, L.L.C., a Delaware
limited liability company created and owned by
the Salt Lake Organizing Committee for the
Olympic Winter Games of 2002 (hereafter in
this Act referred to as ‘‘Olympic Properties of
the United States’’); and
(2) reviewed by the Citizens Commemorative
Coin Advisory Committee.
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, 2002, 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,
2002.
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.—The Sec-
retary shall accept prepaid orders for the coins minted
under this Act before the issuance of such coins. Sales
under this subsection shall be at a reasonable discount.
SEC. 7. SURCHARGES.
(a) SURCHARGE REQUIRED.—All sales shall include
a surcharge of $35 per coin for the $5 coins and $10 per
coin for the $1 coins.
(b) DISTRIBUTION.—Subject to section 5134(f) of
title 31, United States Code, all surcharges which are re-
ceived by the Secretary from the sale of coins issued under
this Act shall be promptly paid by the Secretary as follows:
(1) SALT LAKE ORGANIZING COMMITTEE FOR
THE OLYMPIC WINTER GAMES OF 2002.—One half to
the Salt Lake Organizing Committee for the Olym-
pic Winter Games of 2002 for use in staging and
promoting the 2002 Salt Lake Olympic Winter
Games.
(2) UNITED
STATES
OLYMPIC
COMMITTEE.—
One half to the United States Olympic Committee
for use by the Committee for the objects and pur-
poses of the Committee as established in the Ama-
teur Sports Act of 1978.
(c) 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.
Passed the House of Representatives September 19,
2000.
Attest:
Clerk.