SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘National Museum of
the American Indian Commemorative Coin Act of 2000’’,
or the ‘‘American Buffalo Coin Commemorative Coin Act
of 2000’’.
SEC. 2. FINDINGS.
Congress finds the following:
(1) The Smithsonian Institution was established
in 1846, with funds bequeathed to the United States
by James Smithson for the ‘‘increase and diffusion
of knowledge’’.
(2) Once established, the Smithsonian Institu-
tion became an important part of the process of de-
veloping the United States national identity, an on-
going role which continues today.
(3) The Smithsonian Institution, which is now
the world’s largest museum complex, including 16
museums, 4 research centers, and the National Zoo,
is visited by millions of Americans and people from
all over the world each year.
(4) The National Museum of the American In-
dian of the Smithsonian Institution (hereafter re-
ferred to in this section as the ‘‘NMAI’’) was estab-
lished by an Act of Congress in 1989, in Public Law
101–185.
(5) The purpose of the NMAI, as established by
Congress, is to—
(A) advance the study of Native Ameri-
cans, including the study of language, lit-
erature, history, art, anthropology, and life;
(B) collect, preserve, and exhibit Native
American objects of artistic, historical, literary,
anthropological, and scientific interest; and
(C) provide for Native American research
and study programs.
(6) The NMAI works in cooperation with Na-
tive Americans and oversees a collection that spans
more than 10,000 years of American history.
(7) It is fitting that the NMAI will be located
in a place of honor near the United States Capitol,
and on the National Mall.
(8) Thousands of Americans, including many
American Indians, came from all over the Nation to
witness the ground-breaking ceremony for the NMAI
on September 28, 1999.
(9) The NMAI is scheduled to open in the sum-
mer of 2002.
(10) The original 5-cent buffalo nickel, as de-
signed by James Earle Fraser and minted from
1913 through 1938, which portrays a profile rep-
resentation of a Native American on the obverse side
and a representation of an American buffalo on the
reverse side, is a distinctive and appropriate model
for a coin to commemorate the NMAI.
(11) The surcharge proceeds from the sale of a
commemorative coin, which would have no net cost
to the taxpayers, would raise valuable funding for
the opening of the NMAI and help to supplement
the endowment and educational outreach funds of
the NMAI.
SEC. 3. COIN SPECIFICATIONS.
(a) $1 SILVER COINS.—In commemoration of the
opening of the Museum of the American Indian of the
Smithsonian Institution, the Secretary of the Treasury
(hereafter in this Act referred to as the ‘‘Secretary’’) shall
mint and issue not more than 500,000 $1 coins, each of
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.
SEC. 4. SOURCES OF BULLION.
The Secretary may obtain silver for minting coins
under this Act from any available source, including stock-
piles established under the Strategic and Critical Mate-
rials Stock Piling Act.
SEC. 5. DESIGN OF COINS.
(a) DESIGN REQUIREMENTS.—
(1) IN GENERAL.—The design of the $1 coins
minted under this Act shall be based on the original
5-cent buffalo nickel designed by James Earle Fra-
ser and minted from 1913 through 1938. Each coin
shall have on the obverse side a profile representa-
tion of a Native American, and on the reverse side,
a representation of an American buffalo (also known
as a bison).
(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 ‘‘2001’’; 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—
(1) selected by the Secretary, after consultation
with the Commission of Fine Arts; and
(2) reviewed by the Citizens Commemorative
Coin Advisory Committee.
SEC. 6. ISSUANCE OF COINS.
(a) QUALITY OF COINS.—Coins minted under this
Act shall be issued in uncirculated and proof qualities.
(b) MINT FACILITY.—
(1) IN GENERAL.—Only 1 facility of the United
States Mint may be used to strike any particular
quality of the coins minted under this Act.
(2) SENSE OF THE CONGRESS.—It is the sense
of the Congress that the United States Mint facility
in Denver, Colorado should strike the coins author-
ized by this Act, unless the Secretary determines
that such action would be technically or cost-prohibi-
tive.
(c) COMMENCEMENT OF ISSUANCE.—The Secretary
may issue coins minted under this Act beginning on Janu-
ary 1, 2001.
(d) TERMINATION OF MINTING.—No coins may be
minted under this Act after December 31, 2001.
SEC. 7. SALE OF COINS.
(a) SALE PRICE.—The coins issued under this Act
shall be sold by the Secretary at a price equal to the sum
of—
(1) the face value of the coins;
(2) the surcharge required by subsection (d)
with respect to such coins; and
(3) the cost of designing and issuing the coins
(including labor, materials, dies, use of machinery,
overhead expenses, marketing, and shipping).
(b) BULK SALES.—The Secretary shall make bulk
sales of the coins issued under this Act at a reasonable
discount.
(c) PREPAID ORDERS.—
(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.
(d) SURCHARGES.—All sales of coins minted under
this Act shall include a surcharge of $10 per coin.
SEC. 8. DISTRIBUTION OF SURCHARGES.
(a) IN GENERAL.—Subject to section 5134(f) of title
31, United States Code, the proceeds from the surcharges
received by the Secretary from the sale of coins issued
under this Act shall be paid promptly by the Secretary
to the National Museum of the American Indian of the
Smithsonian Institution for the purposes of—
(1) commemorating the opening of the National
Museum of the American Indian; and
(2) supplementing the endowment and edu-
cational outreach funds of the Museum of the Amer-
ican Indian.
(b) AUDITS.—The National Museum of the American
Indian shall be subject to the audit requirements of section
5134(f)(2) of title 31, United States Code, with regard
to the amounts received by the museum under subsection
(a).
SEC. 9. FINANCIAL ASSURANCES.
(a) NO NET COST TO THE GOVERNMENT.—The Sec-
retary shall take such actions as may be necessary to en-
sure that minting and issuing coins under this Act will
not result in any net cost to the United States Govern-
ment.
(b) PAYMENT FOR COINS.—A coin shall not be issued
under this Act unless the Secretary has received—
(1) full payment for the coin;
(2) security satisfactory to the Secretary to in-
demnify the United States for full payment; or
(3) a guarantee of full payment satisfactory to
the Secretary from a depository institution, the de-
posits of which are insured by the Federal Deposit
Insurance Corporation or the National Credit Union
Administration Board.
Passed the House of Representatives September 26,
2000.
Attest:
Clerk.