I
104TH CONGRESS
1ST SESSION
H. R. 2614
To reform the commemorative coin programs of the United States Mint
in order to protect the integrity of such programs and prevent losses
of Government funds, to authorize the United States Mint to mint
and issue platinum and gold bullion coins, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
NOVEMBER 10, 1995
Mr. CASTLE introduced the following bill; which was referred to the
Committee on Banking and Financial Services
A BILL
To reform the commemorative coin programs of the United
States Mint in order to protect the integrity of such
programs and prevent losses of Government funds, to
authorize the United States Mint to mint and issue plati-
num and gold bullion coins, and for other purposes.
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 ‘‘Commemorative Coin
Authorization and Reform Act of 1995’’.
TITLE I—COMMEMORATIVE
COIN PROGRAM REFORM
SEC. 101. RECOVERY OF MINT EXPENSES REQUIRED BE-
FORE PAYMENT OF SURCHARGES TO ANY RE-
CIPIENT ORGANIZATION.
(a) CLARIFICATION OF LAW RELATING TO DEPOSIT
OF SURCHARGES IN THE NUMISMATIC PUBLIC ENTER-
PRISE FUND.—Section 5134(c)(2) of title 31, United
States Code, is amended by inserting ‘‘, including amounts
attributable to any surcharge imposed with respect to the
sale of any numismatic item’’ before the period.
(b) CONDITIONS ON PAYMENT OF SURCHARGES TO
RECIPIENT ORGANIZATIONS.—Section 5134 of title 31,
United States Code, is amended by adding at the end the
following new subsection:
‘‘(f) CONDITIONS ON PAYMENT OF SURCHARGES TO
RECIPIENT ORGANIZATIONS.—
‘‘(1) PAYMENT
OF
SURCHARGES.—Notwith-
standing any other provision of law, no amount de-
rived from the proceeds of any surcharge imposed on
the sale of any numismatic item shall be paid from
the fund to any designated recipient organization
unless—
‘‘(A) all numismatic operation and pro-
gram costs allocable to the program under
which such numismatic item is produced and
sold have been recovered; and
‘‘(B) the designated recipient organization
submits an audited financial statement which
demonstrates to the satisfaction of the Sec-
retary of the Treasury that, with respect to all
projects or purposes for which the proceeds of
such surcharge may be used, the organization
has raised funds from private sources for such
projects and purposes in an amount which is
equal to or greater than the maximum amount
the organization may receive from the proceeds
of such surcharge.
‘‘(2) ANNUAL AUDITS.—
‘‘(A) ANNUAL AUDITS OF RECIPIENTS RE-
QUIRED.—Each designated recipient organiza-
tion which receives any payment from the fund
of any amount derived from the proceeds of any
surcharge imposed on the sale of any numis-
matic item shall provide, as a condition for re-
ceiving any such amount, for an annual audit,
in accordance with generally accepted govern-
ment auditing standards by an independent
public accountant selected by the organization,
of all such payments to the organization begin-
ning in the first fiscal year of the organization
in which any such amount is received and con-
tinuing until all amounts received by such orga-
nization from the fund with respect to such sur-
charges are fully expended or placed in trust.
‘‘(B) MINIMUM
REQUIREMENTS
FOR
AN-
NUAL AUDITS.—At a minimum, each audit of a
designated recipient organization pursuant to
subparagraph (A) shall report—
‘‘(i) the amount of payments received
by the designated recipient organization
from the fund during the fiscal year of the
organization for which the audit is con-
ducted which are derived from the proceeds
of any surcharge imposed on the sale of
any numismatic item;
‘‘(ii) the amount expended by the des-
ignated recipient organization from the
proceeds of such surcharges during the fis-
cal year of the organization for which the
audit is conducted; and
‘‘(iii) whether all expenditures by the
designated recipient organization during
the fiscal year of the organization for
which the audit is conducted from the pro-
ceeds of such surcharges were for author-
ized purposes.
‘‘(C) RESPONSIBILITY
OF
ORGANIZATION
TO
ACCOUNT
FOR
EXPENDITURES
OF
SUR-
CHARGES.—Each designated recipient organiza-
tion which receives any payment from the fund
of any amount derived from the proceeds of any
surcharge imposed on the sale of any numis-
matic item shall take appropriate steps, as a
condition for receiving any such payment, to en-
sure that the receipt of the payment and the ex-
penditure of the proceeds of such surcharge by
the organization in each fiscal year of the orga-
nization can be accounted for separately from
all other revenues and expenditures of the orga-
nization.
‘‘(D) SUBMISSION
OF
AUDIT
REPORT.—
Not later than 90 days after the end of any fis-
cal year of a designated recipient organization
for which an audit is required under subpara-
graph (A), the organization shall—
‘‘(i) submit a copy of the report to the
Secretary of the Treasury; and
‘‘(ii) make a copy of the report avail-
able to the public.
‘‘(E) USE OF SURCHARGES FOR AUDITS.—
Any designated recipient organization which re-
ceives any payment from the fund of any
amount derived from the proceeds of any sur-
charge imposed on the sale of any numismatic
item may use the amount received to pay the
cost of an audit required under subparagraph
(A).
‘‘(F) WAIVER OF PARAGRAPH.—The Sec-
retary of the Treasury may waive the applica-
tion of any subparagraph of this paragraph to
any designated recipient organization for any
fiscal year after taking into account the amount
of surcharges which such organization received
or expended during such year.
‘‘(G) NONAPPLICABILITY TO FEDERAL EN-
TITIES.—This paragraph shall not apply to any
Federal agency or department or any independ-
ent establishment in the executive branch which
receives any payment from the fund of any
amount derived from the proceeds of any sur-
charge imposed on the sale of any numismatic
item.
‘‘(H) 
AVAILABILITY
OF
BOOKS
AND
RECORDS.—An organization which receives any
payment from the fund of any amount derived
from the proceeds of any surcharge imposed on
the sale of any numismatic item shall provide,
as a condition for receiving any such payment,
to the Inspector General of the Department of
the Treasury or the Comptroller General of the
United States, upon the request of such Inspec-
tor General or the Comptroller General, all
books, records, and workpapers belonging to or
used by the organization, or by any independent
public accountant who audited the organization
in accordance with subparagraph (A), which
may relate to the receipt or expenditure of any
such amount by the organization.
‘‘(3) USE OF AGENTS OR ATTORNEYS TO IN-
FLUENCE COMMEMORATIVE COIN LEGISLATION.—No
portion of any payment from the fund to any des-
ignated recipient organization of any amount derived
from the proceeds of any surcharge imposed on the
sale of any numismatic item may be used, directly
or indirectly, by the organization to compensate any
agent or attorney for services rendered to support or
influence in any way legislative action of the Con-
gress relating to such numismatic item.
‘‘(4) DESIGNATED
RECIPIENT
ORGANIZATION
DEFINED.—For purposes of this subsection, the
term ‘designated recipient organization’ means any
organization designated, under any provision of law,
as the recipient of any surcharge imposed on the
sale of any numismatic item.’’.
(c) SCOPE
OF
APPLICATION.—The amendments
made by this section shall apply with respect to the pro-
ceeds of any surcharge imposed on the sale of any numis-
matic item which are deposited in the Numismatic Public
Enterprise Fund after the date of the enactment of this
Act.
(d) REPEAL OF EXISTING RECIPIENT REPORT RE-
QUIREMENT.—Section 303 of Public Law 103—186 (31
U.S.C. 5112 note) is hereby repealed.
SEC. 102. CITIZENS COMMEMORATIVE COIN ADVISORY
COMMITTEE.
(a) 
FIXED
TERMS
FOR
MEMBERS.—Section
5135(a)(4) of title 31, United States Code, is amended
to read as follows:
‘‘(4) TERMS.—Each member appointed under
clause (i) or (iii) of paragraph (3)(A) shall be ap-
pointed for a term of 4 years.’’.
(b) CHAIRPERSON.—Section 5135(a) of title 31,
United States Code, is amended by adding at the end the
following new paragraph:
‘‘(6) CHAIRPERSON.—The Chairperson of the
Advisory Committee shall be elected by the members
of the Advisory Committee from among such mem-
bers.’’.
SEC. 104. COMMEMORATIVE CIRCULATING COIN PROGRAM.
(a) IN GENERAL.—The Citizens Commemorative
Coin Advisory Committee shall develop a recommendation
for a multiyear commemorative coin program involving the
circulating coins of the United States which would super-
sede other commemorative coin programs for the years the
commemorative circulating coin program is in effect.
(b) REPORT
TO CONGRESS.—The Citizens Com-
memorative Coin Advisory Committee shall submit a re-
port to the Congress before the end of the 6-month period
beginning on the date of the enactment of this Act on the
recommendations developed by the committee pursuant to
subsection (a), together with such recommendations for
legislative or administrative action as the committee deter-
mines to be necessary or appropriate with respect to such
recommendations.
TITLE II—PLATINUM AND GOLD
BULLION COINS
SEC. 201. PLATINUM COINS.
(a) IN GENERAL.—Section 5112 of title 31, United
States Code, is amended by adding at the end the follow-
ing new subsection:
‘‘(k) PLATINUM COINS.—
‘‘(1) IN GENERAL.—Notwithstanding any other
provision of law, the Secretary of the Treasury may
mint and issue platinum coins in such quantity and
of such variety as the Secretary determines to be ap-
propriate.
‘‘(2) SPECIFICATIONS.—Platinum coins minted
under this subsection shall meet such specifications
with respect to diameter, weight, design, and
fineness as the Secretary, in the Secretary’s discre-
tion, may prescribe from time to time.
‘‘(3) LEGAL TENDER.—The coins minted under
this subsection shall be legal tender, as provided in
section 5103 of title 31, United States Code.
‘‘(4) NUMISMATIC ITEMS.—For purposes of sec-
tion 5134 of title 31, United States Code, all coins
minted under this subsection shall be considered to
be numismatic items.
‘‘(5) DESIGNATIONS
AND
INSCRIPTIONS.—On
each coin minted under this subsection, there shall
be—
‘‘(A) a designation of the value of the coin
and the weight of the platinum content of the
coin;
‘‘(B) an inscription of the year in which
the coin is minted or issued; and
‘‘(C) inscriptions of the words ‘Liberty’,
‘In God We Trust’, ‘United States of America’,
and ‘E Pluribus Unum’.
‘‘(6) SALE PRICE.—
‘‘(A) BULLION.—The bullion versions of
the coins issued under this Act shall be sold by
the Secretary at a price equal to the sum of—
‘‘(i) the market value of the bullion at
the time of the sale; and
‘‘(ii) the cost of minting, marketing,
and distributing the coins (including labor,
materials, dies, use of machinery, and pro-
motional and overhead expenses).
‘‘(B) PROOF VERSIONS.—Proof versions of
the coins issued under this Act may be sold by
the Secretary at a price equal to the sum of—
‘‘(i) the cost of designing and issuing
the coins (including labor, materials, dies,
use of machinery, overhead expenses, mar-
keting, and shipping); and
‘‘(ii) a reasonable profit.
‘‘(7) BULK SALES.—The Secretary may make
bulk sales of the coins issued under this subsection
at a reasonable discount.’’.
(b) TECHNICAL AND CONFORMING AMENDMENT.—
Section 5112(j)(1) of title 31, United States Code, is
amended by inserting ‘‘, (i), or (k)’’ after ‘‘subsection (e)’’.
SEC. 202. AMERICAN EAGLE GOLD COINS AUTHORIZED
TO BE PRODUCED IN 2 OR MORE DESIGNS,
WEIGHTS, 
DIAMETERS, 
OR 
FINENESSES
SIMULTANEOUSLY.
Section 5112(i)(4) of title 31, United States Code,
is amended by adding at the end the following new sub-
paragraph:
‘‘(C) CONTINUED MINTING TO STATUTORY
SPECIFICATIONS
AFTER
DETERMINATION
TO
MINT COINS TO CHANGED SPECIFICATIONS.—
Notwithstanding any other provision of this sec-
tion, the Secretary may continue to mint and
issue coins in accordance with the specifications
contained in paragraphs (7), (8), (9), and (10)
of subsection (a) and paragraph (1)(A) of this
subsection at the same time the Secretary is
minting and issuing other coins under this sub-
section in accordance with such specifications,
varieties, quantities, designations, and inscrip-
tions as the Secretary may determine to be ap-
propriate.’’.
TITLE III—MINT MANAGERIAL
STAFFING REFORM
SEC. 301. MODERNIZATION OF THE MANAGEMENT STRUC-
TURE.
Section 5131 of title 31, United States Code, is
amended—
(1) by striking subsection (c); and
(2) by redesignating subsection (d) as sub-
section (c).
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