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

Summary:
1921 Silver Dollar Commemorative Coin Act
This bill directs the Department of the Treasury to mint and issue up to 500,000 $1 silver coins in commemoration of the centennial of the re-minting of the Morgan silver dollar that was designed by George T. Morgan and the minting of the Peace silver dollar that commemorated the declaration of peace between the United States and the Imperial German government.
Treasury may issue such coins only for a one-year period, beginning on January 1, 2021.
All surcharges received from sales of such coins shall be paid as follows:

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3757 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 3757

To require the Secretary of the Treasury to mint coins in commemoration 
  of the centennial of the minting of the Morgan dollar and the Peace 
                                dollar.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 15, 2019

 Mr. Cleaver (for himself and Mr. Barr) introduced the following bill; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to mint coins in commemoration 
  of the centennial of the minting of the Morgan dollar and the Peace 
                                dollar.

    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 Commemorative 
Coin Act''.

SEC. 2. FINDINGS.

    Congress finds the following:
            (1) The United States of America entered the First World 
        War when it declared war against Germany on April 6, 1917.
            (2) The armed hostilities ceased on November 11, 1918, the 
        ``11th hour of the 11th day of the 11th month''.
            (3) The First World War effectively ended on June 28, 1919, 
        with the Treaty of Versailles, but the United States Senate 
        failed to ratify that treaty and later ratified a peace 
        agreement with Germany on October 21, 1921.
            (4) Over 4,700,000 American military personnel served 
        during the First World War with 116,516 sacrificing their lives 
        for freedom and another 204,002 wounded.
            (5) In December 1921, the Peace silver dollar (in this Act 
        referred to as the ``Peace dollar'') was approved by Treasury 
        Secretary Andrew Mellon, replacing the Morgan silver dollar (in 
        this Act referred to as the ``Morgan dollar'') and 
        commemorating the declaration of peace between the United 
        States and the Imperial German government.
            (6) The Peace 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 dollars were minted between 1921-1935.
            (7) The Morgan 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.
            (8) The conversion from the Morgan dollar to the Peace 
        dollar design in 1921 reflected a pivotal moment in American 
        history. The Morgan dollar represents the country's westward 
        expansion and industrial development in the late 19th century. 
        The Peace 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.
            (9) 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 be minted again to 
        commemorate this significant evolution of American freedom.

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 Silver Coins.--The Secretary of the Treasury (referred to in 
this Act as the ``Secretary'') shall mint and issue not more than a 
total of 500,000 $1 coins in commemoration of the Morgan dollar and the 
Peace dollar, each of which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; and
            (3) contain not less than 90 percent silver.
    (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 be representative of either the Morgan dollar or 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 ``2021''; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum''.
    (b) Selection.--The designs 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.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--Notwithstanding section 5131 of title 31, 
United States Code, it is the sense of Congress that if the Secretary 
determines it to be feasible and cost effective, the Secretary may mint 
some of the coins minted under this Act at the Nevada State Museum 
(formerly a United States Mint facility) located in Carson City, 
Nevada.
    (c) Period for Issuance.--The Secretary may issue coins under this 
Act only during the 1-year period 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;
            (2) the surcharge described in section 7 with respect to 
        the 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 date on which 
        the coins are issued.
            (2) Discount.--Sale prices with respect to prepaid orders 
        under paragraph (1) shall be at a reasonable discount.

SEC. 7. SURCHARGES.

    (a) In General.--All sales of coins issued under this Act shall 
include a surcharge of $10 per coin.
    (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, all surcharges received by the Secretary from the sale of 
coins issued under this Act shall be promptly paid by the Secretary as 
follows:
            (1) Forty percent of all surcharges shall be paid to the 
        American Numismatic Association for the purpose of numismatic 
        educational activities.
            (2) Forty percent of all surcharges shall be paid to the 
        National World War I Museum and Memorial in Kansas City, 
        Missouri, for the purposes of education and commemoration 
        activities relating to World War I and its enduring impact.
            (3) Twenty percent of all surcharges shall be paid to the 
        Nevada State Museum (formerly a United States Mint facility) 
        located in Carson City, Nevada, for the purposes of--
                    (A) supporting the preservation of the historic 
                features of the museum relating to the United States 
                Mint;
                    (B) designing interpretive programs that connect 
                visitors to the significance of minting in the United 
                States, the Comstock Lode, and the American West; and
                    (C) to support the activities of the Nevada 
                Division of Museums and History.
    (c) Audits.--The entities described under subsection (b) shall be 
subject to the audit requirements under section 5134(f)(2) of title 31, 
United States Code, with respect to the amounts received under such 
subsection.
    (d) Limitation.--Notwithstanding subsection (a), no surcharge may 
be included with respect to the issuance of any coin under this Act 
during a calendar year if, on the date of the issuance, the issuance of 
the coin would result in the number of commemorative coin programs 
issued during that year to exceed the limitation under section 
5112(m)(1) of title 31, United States Code.

SEC. 8. FINANCIAL ASSURANCES.

    Except with respect to extraordinary costs associated with 
compliance with section 5(b), the Secretary shall take such actions as 
may be necessary to ensure that--
            (1) minting and issuing coins under this Act shall result 
        in no net cost to the Federal Government; and
            (2) no funds, including applicable surcharges, may be 
        disbursed to any recipient designated in section 7 until the 
        total cost of designing and issuing all of the coins authorized 
        by this Act (including labor, materials, dies, use of 
        machinery, overhead expenses, marketing, and shipping) is 
        recovered by the United States Treasury, consistent with 
        sections 5112(m) and 5134(f) of title 31, United States Code.
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