Title: 1921 Silver Dollar Coin Anniversary Act
Policy area: Finance and Financial Sector

Summary:
1921 Silver Dollar Coin Anniversary Act
The Department of the Treasury shall mint and issue $1 silver coins in recognition of the 100th anniversary of completion of coinage of the Morgan dollar and the 100th anniversary of commencement of coinage of the Peace dollar.
Treasury may issue such coins beginning on January 1, 2021.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[S. 4326 Introduced in Senate (IS)]

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116th CONGRESS
  2d Session
                                S. 4326

To require the Secretary of the Treasury to honor the 100th anniversary 
    of completion of coinage of the ``Morgan Dollar'' and the 100th 
anniversary of commencement of coinage of the ``Peace Dollar'', and for 
                            other purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 27, 2020

 Mr. Enzi (for himself and Ms. Cortez Masto) introduced the following 
 bill; which was read twice and referred to the Committee on Banking, 
                       Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to honor the 100th anniversary 
    of completion of coinage of the ``Morgan Dollar'' and the 100th 
anniversary of commencement of coinage of the ``Peace Dollar'', and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``1921 Silver Dollar Coin Anniversary 
Act''.

SEC. 2. FINDINGS.

    The Congress finds the following:
            (1) In December 1921, the Peace silver dollar was approved 
        by Treasury Secretary Andrew Mellon, replacing the Morgan 
        silver dollar and commemorating the declaration of peace 
        between the United States and the Imperial German government.
            (2) The Peace silver dollar was minted in Philadelphia, 
        Denver and San Francisco. The Morgan silver dollar was minted 
        at Philadelphia, Denver, San Francisco, Carson City, and New 
        Orleans.
            (3) The Peace silver dollar was designed by Anthony de 
        Francisci with the Goddess of Liberty on the obverse and a bald 
        eagle clutching the olive branch (a symbol of peace) on the 
        reverse. The Peace silver dollars were minted between 1921 to 
        1935.
            (4) The Morgan silver dollar was designed by George T. 
        Morgan and was minted from 1878 to 1904, and again in 1921. The 
        obverse depicts a profile portrait of Lady Liberty and on the 
        reverse, a heraldic eagle.
            (5) The conversion from the Morgan silver dollar to the 
        Peace silver dollar design in 1921 reflected a pivotal moment 
        in American history. The Morgan silver dollar represents the 
        country's westward expansion and industrial development in the 
        late 19th century. The Peace silver dollar symbolizes the 
        country's coming of age as an international power while 
        recognizing the sacrifices made by her citizens in World War I 
        and celebrating the victory and peace that ensued.
            (6) These iconic silver dollars with vastly different 
        representations of Lady Liberty and the American Eagle, reflect 
        a changing of the guard in 1921 in the United States and 
        therefore on the 100th anniversary must begin to be minted 
        again to commemorate this significant evolution of American 
        freedom.

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 Silver Coins.--The Secretary of the Treasury (hereafter in 
this Act referred to as the ``Secretary'') shall mint and issue $1 
coins in recognition of the 100th anniversary of completion of coinage 
of the Morgan dollar and the 100th anniversary of commencement of 
coinage of the Peace dollar, each of which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches;
            (3) contain not less than 90 percent silver; and
            (4) have a reeded edge.
    (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 sections 5134 and 5136 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 designs of the coins minted under this 
        Act shall honor either the Morgan dollar or the Peace dollar, 
        as follows--
                    (A) Morgan dollar.--The coins honoring the 100th 
                anniversary of completion of coinage of the Morgan 
                dollar shall have an obverse design and a reverse 
                design that are renditions of the designs historically 
                used on the obverse and reverse of the Morgan dollar.
                    (B) Peace dollar.--The coins honoring the 100th 
                anniversary of commencement of coinage of the Peace 
                dollar shall have an obverse design and a reverse 
                design that are renditions of the designs historically 
                used on the obverse and reverse of the Peace dollar.
            (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 of minting or 
                issuance; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', 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 Coinage Advisory Committee.

SEC. 5. ISSUANCE OF COINS.

    The Secretary may issue coins minted under this Act beginning on 
January 1, 2021.

SEC. 6. 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; and
            (2) 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 may make bulk sales of the coins 
issued under this Act at a reasonable discount.

SEC. 7. FINANCIAL ASSURANCES.

    The Secretary of the Treasury shall take such actions as may be 
necessary to ensure that the minting and issuing of coins under the Act 
will not result in any net cost to the United States Government.
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