1992 White House Commemorative Coin Act
PL 102-281 (H.R.3337), enacted 05/13/1992

PUBLIC LAW 102-281—MAY 13, 1992 
106 STAT. 133 
Public Law 102-281 
102d Congress 
An Act 
To require the Secretary of the Treasury to mint coins in commemoration of the 
May 13, 1992 
200th anniversary of the White House, and for other piuposes. 
[H.R. 3337] 
Be it enacted by the Senate and House of Representatives of 
the United States of 
America in Congress assembled, 
TITLE 1—1992 WHITE HOUSE 
COMMEMORATIVE COINS 
SEC. 101. SHORT TITLE. 
This title may be cited as the "1992 White House Commemorative 
Coin Act". 
SEC. 102. COIN SPECIFICATIONS. 
(a) ONE DOLLAR SILVER COINS.— 
(1) ISSUANCE.—^The Secretary shall issue not more than five 
hundred thousand (500,000) one dollar coins which shall weigh 
26.73 grams, have a diameter of 1,500 inches, and shall contain 
90 percent silver and 10 percent copper. 
(2) DESIGN.—^The design of such dollar coins shall be emblem-
atic of the White House. On each such coin there shall be 
a designation of the value of the coin, an inscription of the 
year "1992", and inscriptions of the words "Libert/', "In God 
We Trust", "United States of America", and "E Pluribus Unum". 
(b) LEGAL TENDER.—^The coins issued under this title shall be 
legal tender as provided in section 5103 of title 31, United States 
Code. 
SEC. 103. SOURCES OP BULLION. 
The Secretary shall obtain silver for the coins minted under 
this title from stockpiles established under the Strategic and Critical 
Minerals Stock Piling Act (50 U.S.C. 98 et seq.). 
SEC. 104. SELECTION OF DESIGN. 
The design for each coin authorized by this title shall be selected 
by the Secretary after consultation with the Curator of the White 
House, the Commission of Fine Arts, and the White House Histori-
cal Association. 
SEC. 105. SALE OF COINS. 
(a) SALE PRICE.—Notwithstanding any provision of law, the coins 
issued under this title 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, over-
head expenses, marketing, and shipping). 
(b) PREPAID ORDERS AT A DISCOUNT.—The Secretary shall accept 
prepaid orders for the coins prior to the issuance of such coins. 
1992 White 
House 
Commemorative 
Coin Act. 
31 u s e 5112 
note. 
106 STAT. 134 
PUBLIC LAW 102-281—MAY 13, 1992 
Sales under this subsection shall be at a reasonable discount to 
reflect the benefit of prepayment. 
(c) SURCHARGE REQUIRED.—^All sales shall include a surcharge 
of$10 per coin. 
SEC. 108. ISSUANCE OF THE COINS. 
(a) PERIOD FOR ISSUANCE.—^The coins authorized under this title 
shall be available for issue not later than May 1, 1992, but shall 
be issued only during the 1-year period begnning on sudi date. 
(b) PROOF AND UNCIRCULATED COINS.—The coins authorized 
under this title shall be issued in uncirculated and proof qualities. 
Not more than one facility of the Bureau of the Mint* may be 
used to strike any particular combination of denomination and 
quality. 
SEC. 
1
0
7
. 
GENERAL 
WAIVER 
OF 
PROCUREMENT 
REGULATIONS. 
No provision of law governing procurement or public contracts 
shall be applicable to the procurement of goods or services necessary 
for canying out the provisions of this title. Nothing in this section 
shall reUeve any person entering into a contract under the authority 
of this title 
fi:t)m 
complying with any law relating to equal employ-
ment opportunity. 
SEC. 108. DISTRIBUTION OF SURCHARGES. 
The total surcharges received by the Secretary from the sale 
of the coins issued under this title shall be promptly paid by 
the Secretaiy to The White House Endowment Fund (The Fund) 
to assist The Fund's efforts to raise an endowment to be a perma-
nent source of support for the White House Collection of fine art 
and historic fumisnings, and for the maintenance of the historic 
pubhc rooms of the White House. 
SEC. 100. AUDITS. 
The Comptroller General shall have the right to examine such 
books, records, documents, and other data of The Fund as may 
be related to the expenditure of amounts paid under section 108. 
SEC. 110. COINAGE PROFIT FUND. 
Notwithstanding any provision of law— 
(1) all amounts received from the sale of coins issued under 
this title shall be deposited in the coinage profit fund; 
(2) the Secretary shall pay the amounts authorized under 
this title 
fi:x>m 
the coinage profit fimd to The White House 
Endowment Fund; and 
(3) the Secretary shall charge the coinage profit fimd with 
all expenditures under this title. 
SEC. 111. FINANCIAL ASSURANCES. 
(a) The Secretary shall take such actions as may be necessary 
to ensure that the minting and issuance of the coins referred 
to in section 102 shall not result in any net cost to the Federal 
Government. 
(b) No coin shall be issued under this title unless the Secretary 
has received— 
(1) fiill pajrment for such coin; 
(2) security satisfactoiy to the Secretary to indemnify the 
United States for 
fiillpavment; 
or 
(3) a guarantee of mil payment satisfactory to the Secretaiy 
firom a depositoiy institution whose deposits are insured by 
PUBLIC LAW 102-281—MAY 13, 1992 
106 STAT. 135 
the Federal Deposit Insurance Corporation or the National 
Credit Union Administration. 
TITLE II—WORLD CUP USA 1994 
COMMEMORATIVE COINS 
SEC. 201. SHORT TITLE. 
This title may be cited as the "World Cup USA 1994 Commemora-
tive Coin Act". 
SEC. 202. COIN SPECIFICATIONS. 
(a) FIVE DOLLAR GOLD COINS.—The Secretary of the Treasury 
(hereafter in this title referred to as the "Secretary") shall issue 
not more than 750,000 five dollar coins which shall weigh 8.359 
grams, have a diameter of 0.850 inches, and shall contain 90 percent 
gold and 10 percent alloy. 
(b) ONE DOLLAR SILVER COINS.—The Secretary shall issue not 
more than 5,000,000 one dollar coins which shall weigh 26.73 grams, 
have a diameter of 1,500 inches, and shall contain 90 percent 
silver and 10 percent copper. 
(c) HALF DOLLAR CLAD COINS.—The Secretary shall issue not 
more than 5,000,000 half dollar coins which shall be minted to 
the specifications for half dollar coins contained in section 5112(b) 
of title 31, United States Code. 
(d) LEGAL TENDER.—^The coins issued under this title shall be 
legal tender as provided in section 5103 of title 31, United States 
Code. 
SEC. 203. SOURCES OF BULLION. 
(a) GOLD.—The Secretary shall obtain gold for the coins minted 
under this title pursuant to the authority of the Secretary under 
existing law. 
(b) SILVER.—The Secretary shall obtain silver for the coins minted 
under this title from stockpiles established under the Strategic 
and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). 
SEC. 204. DESIGN. 
(a) DESIGN REQUIREMENTS.—^The design of each coin authorized 
hereunder shall include the official 1994 World Cup logo adopted 
by World Cup USA 1994, Inc., the organizing committee for the 
event (hereafter referred to as the "Organizing Committee") and 
shall reflect the unique appeal of soccer. On each coin authorized 
hereunder there shall be a designation of the value of the coin, 
and inscriptions of the words "United States of America", "E 
Pluribus Unum", "In God We Trust", "Liberty" and "World Cup 
USA 1994". 
(b) DESIGN COMPETITION.—The Director of the United States 
Mint shall sponsor a nationwide open competition for the design 
of each coin authorized hereunder beginning not later than 3 
months and concluding not later than 9 months after the date 
of the entitlement of this title. The Director of the United States 
Mint shall select 10 designs for each coin to be submitted to the 
Secretary, who shall select the final design for each such coin 
in consultation with the Organizing Committee. 
World Cup 
USA 1994 
Commemorative 
Coin Act. 
31 u s e 5112 
note. 
106 STAT. 136 
PUBLIC LAW 102-281—MAY 13, 1992 
SEC. 205. SALE OF COINS. 
(a) SALE PRICE.—^Notwithstanding any other provision of law, 
the coins issued under this title 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 expenses, marketing and shipping). 
(b) BULK SALES.—^The Secretary shall make bulk sales at a rea-
sonable discoimt. 
(c) PREPAID ORDERS AT A DISCOUNT.—The Secretary shall accept 
prepaid orders for the coins prior to the issuance of such coins. 
Sales under this subsection shsdl be at a reasonable discount. 
(d) SURCHARGE REQUIRED.—^All sales shall include a surcharge 
of $35 per coin for the five dollar coins, $7 per coin for the one 
dollar coins, and $1 for the half dollar coins. 
(e) WORLD CUP COMMUNITIES.—The Secretary shall use best 
efforts to market World Cup coins in the United States with particu-
lar focus on communities in which World Cup games are held. 
(f) INTERNATIONAL SALES.—^The Secretary, in cooperation with 
the Organizing Committee, shall develop an International Market-
ing Program to promote and sell coins outside the United States. 
(g) REPORTS TO CONGRESS.— 
(1) REQUIRED.—Not later than 15 days after the last day 
of each month which begins before January 1, 1996, the Sec-
retary shall submit a report describing in detail the activities 
carried out under this title to the Committee on Banking, 
Finance and Urbsm Affairs of the House of Representatives 
and the Committee on Banking, Housing, and Urban Affairs 
of the Senate. 
(2) CONTENTS OF REPORT.—Each report submitted pursuant 
to paragraph (1) shall include a review of all marketing activi-
ties under this section and a financial statement which details 
sources of funds, surcharges generated, and expenses incurred 
for manufacturing, materials, overhead, packaging, marketing, 
and shipping. 
SEC. 206. ISSUANCE OF THE COINS. 
(a) PERIOD FOR ISSUANCE.—^The coins authorized under this title 
shall be minted and available for issue no later than January 
3,1994, but shall be issued only during 1994. 
(b) PROOF AND UNCIRCULATED COINS.—The coins authorized 
under this title shall be issued in uncirculated and proof qualities. 
(c) BUREAU OF THE MINT.—Not more than 1 faciUty of the Bureau 
of the Mint may be used to strike any particular combination 
of denomination and quality. 
SEC. 2
0
7
. 
GENERAL 
WAIVER 
OF 
PROCUREMENT 
REGULATIONS. 
(a) IN GENERAL.—Except as provided in subsection (b), no provi-
sion of law governing procurement or public contracts shall be 
applicable to the procurement of goods or services necessary for 
carrying out the provisions of this title. 
(b) EQUAL EMPLOYMENT OPPORTUNITY.—Subsection (a) shall not 
relieve any person entering into a contract imder the authority 
of this title from complying with any law relating to equal employ-
ment opportunity. 
PUBLIC LAW 102-281—MAY 13,1992 
106 STAT. 137 
SEC. 208. DISTRIBUTION OF SURCHARGES. 
(a) IN GENERAL.—^All surcharges which are received by the Sec-
retaiT from the sale of coins issued under this title shall be promptly 
paid by the Secretary to the Organizing Committee. 
(b) USE OF PROCEEDS,—Amounts received imder subsection (a) 
shall be used by the Organizing Conmiittee for purposes of organiz-
ing and staging the 1994 World Cup, with 10 percent of such 
funds to be made available through the United States Soccer Fed-
eration Foundation, Inc., for distribution to institutions for scholas-
tic scholarships to quaUfied students. 
SEC. 209. AUDITS. 
The Comptroller Greneral shall have the right to examine such 
books, records, documents and other data of the Organizing Commit-
tee as may be related to the expenditure of amounts pedd imder 
section 208. 
SEC. 210. COINAGE PROFIT FUND. 
Notwithstanding any other provision of law— 
(1) all amounts received from the sale of coins issued under 
this title shall be deposited in the coinage profit fund; 
(2) the Secretary shall pay the amounts authorized under 
this title from the coinage profit fund to the Organizing Com-
mittee; and 
' 
(3) the Secretary shall charge the coinage profit fund with 
all expenditures under this title. 
SEC. 211. FINANCIAL ASSURANCES. 
(a) No NET COST.—^The Secretary shall take such actions as 
may be necessary to ensure that the minting and issuance of 
the coins referred to in section 202 shall not result in any net 
cost to the Federal G^ovemment. 
(b) PAYMENT ASSURANCES.—^No coin shall be issued under this 
title unless the Secretary has received— 
(1) full pa5nnent for such coin; 
(2) security satisfactory to the Secretary to indemnify the 
United States for full pajmient; or 
(3) a guarantee of full pasmaent satisfactory to the Secretary 
from a depository institution whose deposits are insured by 
the Federal Deposit Insurance Corporation or the National 
Credit Union Administration. 
TITLE III—SILVER MEDALS FOR VET- fr&^^^iT 
ERANS OF THE PERSIAN GULF CON-
FLICT 
SEC. 301. P U R P O S E . 
It is the purpose of this title to commemorate the sacrifices 
made £uid service rendered to the United States by members of 
the United States Armed Forces who serve in a combat zone in 
connection with the Persian Gulf conflict. 
SEC. 302. SILVER CONGRESSIONAL COMMEMORATIVE MEDAL. 
(a) IN GENERAL.—^The Secretary of the Treasury shall design 
and strike a silver medal with suitable emblems, devices, and 
inscriptions to be determined by the Secretary in commemoration 
note. 
106 STAT. 138 
PUBLIC LAW 102-281—MAY 13, 1992 
of the sacrifices made and service rendered to the United States 
by members of the United States Armed Forces referred to in 
section 303(a). 
(b) SOURCE OF BULLION.—The Secretary of the Treasury shall 
obtain silver for minting coins under this title only from stockpiles 
established under the Strategic and Critical Minerals Stock Piling 
Act (50 U.S.C. 98 et seq.) and such silver shall be furnished to 
the Secretary at no cost by the custodian of the stockpile. 
SEC. 303. ELIGIBILITY TO RECEIVE MEDAL. 
(a) IN GENERAL.—^Any member of the United States Armed Forces 
who serves in a combat zone in connection with the Persian Gulf 
conflict shall be eligible for a silver medal referred to in section 
302. 
(b) DETERMINATION.—Eligibility under subsection (a) shall be 
determined by the Secretary of Defense and such Secretary shall 
establish a list of the names of such eligible individuals before 
the end of the 120-day period beginning on the date of the entitle-
ment of this title. 
(c) NEXT OF KIN.—If any member referred to in subsection (a) 
is deceased, the next of kin of such member may receive the medal 
referred to in section 302. 
(d) DELIVERY.—The medals struck pursueint to section 302(a) 
shall be delivered by the Secretary of the Treasury to the Secretary 
of Defense and the Secretary of Defense shall arrange for the 
distribution of the medals to the eligible individuals. 
SEC. 304. NATIONAL MEDALS. 
The medals struck pursuant to this title are national medals 
for purposes of chapter 51 of title 31, United States Code. 
SEC. 305. DUPLICATE MEDALS. 
(a) STRIKING AND SALE.—The Secretary of the Treasury may 
strike and sell duplicates in bronze of the silver medal described 
in section 302 under such regulations as the Secretary may pre-
scribe, at a price sufficient to cover the cost of duplicates and 
the cost of designing and striking the medals under section 302, 
including labor, materials, dies, use of machinery, and overhead 
expenses. 
(b) PROCEEDS IN EXCESS OF COST TO B E USED TO REDUCE THE 
NATIONAL DEBT.—^Any amomit received by the Secretary of the 
Treasury from the sale of duplicate medals under subsection (a) 
in excess of the costs described in such subsection shall be deposited 
in the general fund of the Treasury and shall be used for the 
sole purpose of reducing the national debt. 
SEC. 
306. 
GENERAL 
WAIVER 
OF 
PROCUREMENT 
REGULATIONS. 
(a) IN GENERAL.—Except as provided in subsection (b), no provi-
sion of law governing procurement or public contracts shall be 
applicable to the procurement of goods and services necessary for 
carrying out the provisions of this title. 
(b) EQUAL EMPLOYMENT OPPORTUNITY.—Subsection (a) shall not 
relieve any person entering into a contract under the authority 
of this title from complying with any law relating to equal employ-
ment opportunity. 
PUBLIC LAW 102-281—MAY 13, 1992 
106 STAT. 139 
SEC. 307. FINANCIAL ASSURANCES. 
(a) No NET COST TO THE GOVERNMENT.—The Secretary shall 
take such actions as may be necessary to ensure that minting 
and issuing medals under this title will not result in any net 
cost to the United States Government, 
(b) NO EXPENDITURES IN ADVANCE OF RECEIPT OF FUNDS.—The 
Secretary of the Treasury shall not strike, mint, or distribute the 
medals described in section 302 until such time as the Secretary 
certifies that sufficient fiinds have been received by the Secretary 
under section 305 or 
fi*om 
donations firom private persons to ensure 
that striking, minting, and issuing medals described in section 
302 will not result in £iny net cost to the United States Government. 
TITLE 
IV—CHRISTOPHER 
COLUMBUS ^
r
a
n
k A
n
n
u
n
z
l
o 
QUINCENTENARY 
COINS AND FEL-
LOWSHIP FOUNDATION 
SEC. 400. SHORT TITLE. 
This title may be cited as the "Frank Annunzio Act". 
Subtitle A—Christopher Columbus 
Quincentenary Coins 
SEC. 401. SHORT TITLE. 
This subtitle may be cited as the "Christopher Columbus 
Quincentenary Coin Act". 
SEC. 402. SPECIFICATIONS OF COINS. 
(a) FIVE DOLLAR GOLD COINS.— 
(1) ISSUANCE.—^The Secretary of the Treasury (hereinafter 
in this subtitle referred to as the "Secretary") snail mint and 
issue not more than 500,000 five dollar coins each of which 
shall— 
(A) weigh 8.359 grams; 
(B) have a diameter of .850 inches; and 
(C) be composed of 90 percent gold and 10 percent alloy. 
(2) DESIGN.—^The design of the five dollar coins shall, in 
accordance with section 404, bear a likeness of Christopher 
Columbus. Each five dollar coin shall bear a designation of 
the value of the coin, an inscription of the year "1992", and 
inscriptions of the words "Liberty", "In Grod We Trust", "United 
States of America", and "E Pluribus Unum". 
(b) ONE DOLLAR SILVER COINS.— 
(1) ISSUANCE.—^The Secretary shall mint and issue not more 
than 4,000,000 one dollar coins each of which shall— 
(A) weigh 26.73 grams; 
(B) have a diameter of 1.500 inches; and 
(C) be composed of 90 percent silver and 10 percent 
copper. 
(2) DESIGN.—The design of the one dollar coins shall, in 
accordance 
with 
section 
404, be 
emblematic 
of the 
quincentenary of the discovery of America. Each one dollar 
coin shall bear a designation of the value of the coin, an 
inscription of the year "1992", and inscriptions of the words 
20 use 5701 
note. 
Christopher 
Columbus 
Quincentenary 
Coin Act. 
31 u s e 5112 
note. 
106 STAT. 140 
PUBLIC LAW 102-281—MAY 13, 1992 
"Liberty", "In God We Trust", "United States of America", and 
"E Pluribus Unum". 
. 
(c) HALF DOLLAR CLAD COINS.— 
(1) ISSUANCE.—The Secretary shall issue not more than 
6,000,000half dollar coins each of which shall— 
(A) weigh 11.34 grams; 
(B) have a diameter of 1.205 inches; and 
(C) be minted to the specifications for half dollar coins 
contained in section 5112(b) of title 31, United States Code. 
(2) DESIGN.—^The design of the half dollar coins shall, in 
accordance 
with 
section 
404, 
be 
emblematic 
of 
the 
quincentenary of the discovery of America. Each half dollar 
coin shall bear a designation of the value of the coin, an 
inscription of the year "1992", and inscriptions of the words 
"Liberty", "In God We Trust", "United States of America", and 
"E Pluribus Unum". 
(d) LEGAL TENDER.—The coins minted under this subtitle shall 
be legal tender as provided in section 5103 of title 31, United 
States Code. 
SEC. 403. SOURCES OF BULUON. 
i. 
(a) GOLD.—^The Secretary shall obtain gold for minting coins 
under this subtitle pursuant to the authority of the Secretary under 
existing law. 
(b) SILVER.—^The Secretary shall obtain silver for minting coins 
under this subtitle only from stockpiles established under the 
Strategic and Critical Minerals Stock Piling Act (50 U.S.C. 98 
et seq.y. 
SEC. 404. DESIGN OF COINS. 
The design for each coin authorized by this subtitle shall be 
selected by the Secretary after consultation with the Christopher 
Columbus Fellowship Foundation and the Commission of Fine Arts. 
SEC. 405. ISSUANCE OF COINS. 
New York. 
(a) FiVE DOLLAR CoiNS.—^The five dollar coins minted under 
this subtitle may be issued in uncirculated and proof qualities 
and shall be struck at the United States Mint at West Point, 
New York. 
(b) ONE DOLLAR AND HALF DOLLAR COINS.—The one dollar and 
half dollar coins minted under this subtitle may be issued in uncir-
culated and proof qualities, except that not more than one facility 
of the Bureau of the Mint may be used to strike any particular 
combination of denomination and quality. 
(c) PERIOD OF ISSUANCE.—The Secretary may issue the coins 
minted under this subtitle during the period beginning on 
January 1, 1992, and ending on June 30, 1993. 
SEC. 406. SALE OF COINS. 
(a) IN GENERAL.—Notwithstanding any other provision of law, 
the Secretary shall sell the coins minted under this subtitle at 
a price equal to the face value, plus the cost of designing and 
issuing the coins (including labor, materials, dies, use of machinery, 
and overhead expenses). 
(b) BULK SALES.—^The Secretary shall make any bulk sales of 
the coins minted under this subtitle at a reasonable discount. 
(c) PREPAID ORDERS.—^The Secretary shall accept prepaid orders 
for the coins minted under this subtitle prior to the issuance of 
PUBLIC LAW 102-281—MAY 13, 1992 
106 STAT. 141 
such coins. Sale prices with respect to such prepaid orders shall 
he at a reasonable discount. 
(d) SURCHARGES.—^All sales of coins minted under this subtitle 
shall include a surcharge of $35 per coin for the five dollar coins, 
$7 per coin for the one dollar coins, and $1 per coin for the half 
dollar coins. 
SEC. 407. FINANCIAL ASSURANCES. 
(a) No NET COST TO THE GOVERNMENT.—The Secretary shall 
take such actions as may be necessary to ensure that minting 
and issuing coins under this subtitle will not result in any net 
cost to the United States Government. 
(b) PAYMENT FOR COINS.—^A coin shall not be issued under this 
subtitle unless the Secretary has received— 
(1) full payment for the coin; 
(2) security satisfactory to the Secretary to indemnify the 
United States for full payment; or 
(3) a guarantee of full payment satisfactory to the Secretary 
from a depository institution whose deposits are insured by 
the Federal Deposit Insurance Corporation or the National 
Credit Union Administration Board. 
SEC. 408. USE OF SURCHARGES. 
(a) IN GENERAL.—The surcharges that are received by the Sec-
retary from the sale of coins minted under this subtitle shall be 
deposited in the Christopher Columbus Fellowship Fund and be 
available to the Christopher Columbus Fellowship Foundation. 
(b) AUDITS.—^The Comptroller General shall have the right to 
examine such books, records, documents, and other data of the 
Christopher Columbus Fellowship Foundation as may be related 
to the expenditure of amounts paid under subsection (a). 
SEC. 
409. 
GENERAL 
WAIVER 
OF 
PROCUREMENT 
REGULATIONS. 
(a) IN GENERAL.—Except as provided in subsection (b), no provi-
sion of law governing procurement or public contracts shall be 
applicable to the procurement of goods and services necessary for 
carrying out the provisions of this subtitle. 
(b) EQUAL EMPLOYMENT OPPORTUNITY.—Subsection (a) shall not 
relieve any person entering into a contract under the authority 
of this subtitle from complying with any law relating to equal 
employment opportunity. 
SEC. 410. COINAGE PROFIT FUND. 
(a) DEPOSITS.—^All amounts received from the sale of coins issued 
under this subtitle shall be deposited in the coinage profit fund. 
(b) PAYMENTS.—The Secretary shall make the deposits of the 
amounts required under section 408(a) from the coinage profit fund. 
(c) EXPENDITURES.—^The Secretary shall charge the coinage profit 
fund with all expenditures under this subtitle. 
SEC. 411. REPORTS TO CONGRESS. 
(a) REQUIRED.—Not later than 15 days after the last day of 
each month which begins before July 1, 1993, the Secretary shall 
submit a report describing in detail the activities carried out under 
this subtitle to the Committee on Banking, Finance and Urban 
Affairs of the House of Representatives and the Committee on 
Banking, Housing, and Urban Affairs of the Senate. 
106 STAT. 142 
PUBLIC LAW 102-281—MAY 13, 1992 
Christopher 
Columbus 
Fellowship 
Act. 
20 u s e 5701 
note. 
20 u s e 5701. 
20 u s e 5702. 
President. 
(b) CONTENTS OF REPORT.—^Each report submitted pursuant to 
subsection (a) shall include a review of all marketing activities 
under section 406 and a financial statement which details sources 
of funds, surcharges generated, and expenses incurred for manufac-
turing, materials, overhead, packaging, marketing, and shipping. 
Subtitle B—Christopher Columbus 
Fellowship Foundation 
SEC. 421. SHORT TITLE. 
This subtitle may be cited as the "Christopher Columbus Fellow-
ship Act". 
SEC. 422. PURPOSE. 
The purpose of this subtitle is to establish the Christopher Colum-
bus Fellowship Program to encourage and support research, study, 
and labor designed to produce new discoveries in all fields of 
endeavor for the benefit of meinkind. 
SEC. 423. CHRISTOPHER COLUMBUS FELLOWSHIP FOUNDATION. 
(a) ESTABLISHMENT AND PURPOSES.—There is established, as an 
independent establishment of the executive branch, the Christopher 
Columbus Fellowship Foundation (hereinafter in this subtitle 
referred to as the "Foundation"). 
(b) MEMBERSHIP.—^The Foundation shall be subject to the super-
vision and direction of the Board of Trustees. The Board shall 
be composed of 13 members as follows: 
(1) 2 members appointed by the President in consultation 
with the President pro tempore of the Senate. 
(2) 2 members appointed by the President in consultation 
with the Minority Leader of the Senate. 
(3) 2 members appointed by the President in consultation 
with the Speaker of the House of Representatives. 
(4) 2 members appointed by the President in consultation 
with the Minority Leader of the House of Representatives. 
(5) 5 members appointed by the President. 
(c) CHAIRMAN AND VICE CHAIRMAN OF THE FOUNDATION.—The 
President shall designate a Chairman and a Vice Chairman from 
among the members appointed by the President. 
(d) TERMS OF OFFICE; VACANCIES.—Each member of the Board 
of Trustees appointed under subsection (b) shall serve for a term 
of 6 years from the expiration of the term of such member's prede-
cessor, except that— 
(1) any member appointed to fill a vacancy occurring prior 
to the expiration of the term for which such member's prede-
cessor was appointed shall be appointed for the remainder 
of such term; and 
(2) of the members first appointed— 
(A) 4 shall be appointed for a term of 2 years; 
(B) 5 shall be appointed for a term of 4 years; and 
(C) 4 shall be appointed for a term of 6 years, 
as designated by the President. 
(e) EXPENSES; NO ADDITIONAL COMPENSATION.—Members of the 
Board shall serve without pay, but shall be entitled to reimburse-
ment for travel, subsistence, and other necessary expenses incurred 
in the performance of their duties as members of the Board. 
PUBLIC LAW 102-281—MAY 13, 1992 
106 STAT. 143 
SEC. 424. FELLOWSfflP RECIPIENTS. 
20 USC 5703. 
(a) AWARD.—^The Foundation is authorized to award fellowships 
to outstanding individuals to encourage new discoveries in all fields 
of endeavor for the benefit of mankind. Recipients shall be known 
as "Columbus Scholars". 
(b) TERM.—Fellowships shall be granted for such periods as the 
Foundation may prescribe but not to exceed 2 years. 
(c) SELECTION.—The Foundation may provide, directly or by con-
tract, for the conduct of a nationwide competition for the selection 
of fellowship recipients. 
SEC. 425. STIPENDS. 
20 USC 5704. 
Each person awarded a fellowship under this subtitle shall receive 
a stipend as determined by the Foundation. 
SEC. 426. CHRISTOPHER COLUMBUS FELLOWSHIP FUND. 
20 USC 5705. 
(a) IN GENERAL.—^There is established in the Treasury a fund 
to be known as the Christopher Columbus Scholarship Fund (here-
after in this subtitle referred to as the "fund"), which shall consist 
of— 
(1) amounts deposited under subsection (d); 
(2) obligations obtained under subsection (c); 
(3) amounts contributed to the Foundation; and 
(4) all surcharges received by the Secretary of the Treasury 
from the sale of coins minted imder the Christopher Columbus 
Quincentenary Coin Act. 
(b) INVESTMENTS.— 
(1) DUTY OF SECRETARY TO INVEST.—The Secretary of the 
Treasury shall invest in full any amount appropriated or con-
tributed to the fund. 
(2) AUTHORIZED INVESTMENTS.—Investments pursuant to 
paragraph (1) may be made only in interest-bearing obligations 
of the United States or in obligations guaranteed as to both 
principal and interest by the United States. For such purpose, 
such obligations may be acquired— 
(A) on original issue at the issue price; or 
(B) by purchase of outstanding obligations at the market 
price. 
(3) SPECIAL OBLIGATIONS.—^The purposes for which obligations 
of the United States may be issued under chapter 31 of title 
31, United States Code, are hereby extended to authorize the 
issuance at par of special obligations exclusively to the fund. 
Such special obligations shall bear interest at a rate equal 
to the average rate of interest, computed as to the end of 
the calendar month preceding the date of such issue, borne 
by all marketable interest-bearing obligations of the United 
States then forming a part of the public debt; except that, 
if such average rate is not a multiple of Va of 1 percent, 
the rate of interest of such special obligations shall be the 
multiple of Va of 1 percent next lower than such average rate. 
Such special obligations shall be issued only if the Secretary 
determines that the purchase of other obligations of the United 
States, or of obligations guaranteed as to both principal and 
interest by the United States or original issue at the market 
price, is not in the public interest. 
(c) SALE OF OBLIGATIONS.—^Any obligations acquired by the fund 
(except special obligations issued exclusively to the fund in accord-
106 STAT. 144 
PUBLIC LAW 102-281—MAY 13,1992 
ance with subsection (bX3)) may be sold by the Secretary at the 
market price, and such special obligations may be redeemed at 
par plus accrued interest. 
(d) INTEREST.—^The interest on, and the proceeds from, the sale 
or redemption of any obligations held in the fund shall be credited 
to and form a part of the fmid. 
(e) AVAILABILTTY OF FUND.— 
(1) STIPENDS.—^The fund shall be available to the Foundation 
for payment of stipends awarded under section 425. 
(2) EXPENSES.—^The Secretary of the Treasury is authorized 
to pay to the Foundation from the interest and earnings of 
the funds such siuns as the Board determines are necessary 
and appropriate to enable the Foundation to cany out the 
provisions of this subtitle. 
(f) DISBURSEMENTS.—^Disbursements from the fund shall be made 
on vouchers approved by the Foundation and signed by the Chair-
man. 
20 use 5706. 
SEC. 427. AUDITS. 
The activities of the Foundation under this subtitle may be 
audited by the Comptroller Greneral of the United States. The 
Comptroller General shall have access to all books, accounts, 
records, reports, and files and all other papers, things, or property 
belonging to or in use by the Foundation, pertaining to such activi-
ties and necessary to facilitate the audit. 
20 use 5707. 
SEC. 428. EXECUTIVE SECRETARY OF FOUNDATION. 
(a) DUTIES.—^There shall be an Executive Secretary of the Foimda-
tion who shall be appointed by the Board. The Executive Secretaiy 
shall be the chief executive officer of the Foundation and shall 
carry out the functions of the Foundation subject to the supervision 
and direction of the Board. 
(b) COMPENSATION.—The Executive Secretary of the Foundation 
shall be compensated at an annual rate of basic pay not in excess 
of the amount payable for Executive Level V. 
20 use 5708. 
SEC. 429. ADMINISTRATIVE PROVISIONS. 
(a) The Foundation may— 
(1) appoint and fuc the compensation of such personnel as 
may be necessary to carry out the provisions of this subtitle, 
except that in no case shall employees (other than the Executive 
Secretary) be compensated at a rate in excess of the rate 
of basic pay payable for GS-15 of the Greneral Schedule; 
(2) procure temporary and intermittent services of such 
experts and consultants as are necessary to the extent author-
ized by section 3109 of title 5, but at rates not in excess 
of the rate of basic pay payable for Executive Level V; 
(3) prescribe such regulations as the Foundation may deter-
mine to be necessaiy governing the manner in which its func-
tions shall be carried, out; 
(4) receive money and other property donated, bequeathed, 
or devised, without condition or restriction other than it be 
used for the purposes of the Foundation; and to use, sell, 
or otherwise dispose of such property for the purpose of carrying 
out its functions; 
(5) accept and utilize the services of volimtary and uncompen-
sated personnel and reimbiu*se them for travel expenses, includ-
PUBLIC LAW 102-281—MAY 13, 1992 
106 STAT. 145 
ing per diem, as authorized by section 5703 of title 5, United 
States Code; 
(6) enter into contracts, grants, or other arrangements, or 
modifications thereof, to carry out the provisions of mis chapter, 
and such contracts or modifications thereof may, with the con-
currence of two-thirds of the members of the Board, be entered 
into without performance or other bonds, and without regard 
to section 3709 of the Revised Statutes; 
(7) make advances, progress, and other payments which the 
Board deems necessary under this chapter without regard to 
the provisions of section 529 of title 31, United States Code; 
(8) rent office space; 
(9) conduct programs in addition to or in conjunction with 
the Fellowship program which shall further the Foundation's 
purpose of encouraging new discoveries in all fields of endeavor 
for the benefit of mankind; and 
(10) to make other necessary expenditures. 
(b) ANNUAL REPORT.—The Foundation shall submit to the Presi-
dent and to the Congress an annual report of its operations under 
this subtitle. 
TITLE V-J^AMES MADISON COINS 
Jj^^^_ 
Bill of Rights 
SEC. 501. SHORT TITLE. 
Commemorative 
Coin Act. 
This title may be cited as the "James Madison—Bill of Rights 31 USC 5112 
Commemorative Coin Act". 
note. 
SEC. 502. COIN SPECIFICATIONS. 
(a) FIVE DOLLAR GOLD COINS.— 
(1) ISSUANCE.—^The Secretary of the Treasury (hereafter in 
this title referred to as the "Secretary") shall mint and issue 
not more than 300,000 five dollar coins each of which shall— 
(A) weigh 8,359 grams; 
(B) have a diameter of .850 inches; and 
(C) be composed of 90 percent gold and 10 percent alloy. 
(2) DESIGN.—^The design of the five dollar coins shall be 
emblematic of the first ten Amendments of the Constitution 
of the United States, known as the Bill of Rights. The Director 
of the United States Mint shall sponsor a nationwide open 
competition for the design of the five dollar coin beginning 
not later than 3 months after the date of the enactment of 
this Act. The Director of the United States Mint shall convene 
the Design Panel established under subsection (e) which shall 
select 10 designs to be submitted to the Secretary who shall 
select the final design. 
(b) ONE DOLLAR SILVER COINS.— 
(1) ISSUANCE.—^The Secretary shall mint and issue not more 
than 900,000 one dollar coins each of which shall— 
(A) weigh 26.73 grams; 
(B) have a diameter of 1.5 inches; and 
(C) be composed of 90 percent silver and 10 percent 
copper. 
(2) DESIGN.—^The obverse design of the one dollar coins shall 
be emblematic of James Madison, the fourth President of the 
United States. The reverse design shall be emblematic of James 
Madison's home, Montpelier, between the years 1751 and 1836. 
106 STAT. 146 
PUBLIC LAW 102-281—MAY 13, 1992 
- The Director of the United States Mint shall sponsor a nation-
wide open competition for the design of the one dollar coin 
beginning not later than 3 months after the date of the enact-
ment of this Act. The Director of the United States Mint shall 
convene the Design Panel established imder subsection (e) 
which shall select 10 designs to be submitted to the Secretary 
who shall select the final design. 
(c) HALF DOLLAR SILVER COINS.— 
(1) ISSUANCE.—The Secretary shall mint and issue not more 
than 1,000,000 half dollar coins each of which shall— 
(A) weigh 12.50 grams; 
(B) have a diameter of 30,61 millimeters; and 
(C) be composed of 90 percent silver and 10 percent 
copper. 
(2) DESIGN.—The design of the half dollar silver coins shall 
be emblematic of the first ten Amendments of the Constitution 
of the United States, known as the Bill of Rights. The Director 
of the United States Mint shall sponsor a nationwide open 
competition for the design of the half dollar coin beginning 
not later than 3 months after the date of the enactment of 
this Act. The Director of the United States Mint shall convene 
the Design Panel established under subsection (e) which shall 
select 10 designs to be submitted to the Secretary who shall 
select the final design. 
(d) INSCRIPTIONS.—^All coins minted and issued under this title 
shall bear a designation of the value of the coin, an inscription 
of the year of issue and inscriptions of the words "Liberty", "In 
God We Trust", "United States of America", and "E Pluribus Unum". 
(e) DESIGN PANEL.—^The Design Panel referred to in subsections 
(a), (b), and (c) shall consist of the following members: 
(1) The Chairperson of the Commission of Fine Arts. 
(2) The president of the James Madison Memorial Fellowship 
Foundation. 
(3) The Executive Director, National Numismatic Collection, 
the Smithsonian Institution. 
(4) A representative member of the American Numismatic 
Association. 
(5) A representative member of a national sculpture society 
or association. 
(6) Two representatives of the United States Mint selected 
by the Director of the United States Mint. 
The Secretary shall reimburse the members of the Design Panel 
for per diem expenses and other official expenses from the revenues 
received from the sale of the coins. The Design Panel shall not 
be subject to the Federal Advisory Committee Act (5 U.S.C. App.), 
and shall terminate following the selection process set forth in 
subsections (a), (b), and (c). 
(f) LEGAL TENDER.—^The coins issued under this title shall be 
legal tender as provided in section 5103 of title 31, United States 
Code. 
SEC. 503. SOURCES OF BULLION. 
(a) GOLD.—The Secretary shall obtain gold for minting coins 
under this title pursuant to the authority of the Secretary under 
existinglaw. 
... ....>...-;...,..=.,,;•.••.. 
.-v'.'.--i.: •
'
• .. 
PUBLIC LAW 102-281—MAY 13, 1992 
106 STAT. 147 
(b) SILVER.—^The Secretary shall obtain silver for minting coins 
under this title only from stockpiles established under the Strategic 
and Critical Materials Stock PiUng Act (50 U.S.C. 98 et seq.). 
SEC. 504. ISSUANCE OF COINS. 
(a) FIVE DOLLAR COINS.—^The five dollar coins minted under New York, 
this title may be issued in uncirculated and proof qualities and 
shall be struck at the United States Mint at West Point, New 
York. 
(b) ONE DOLLAR COINS AND HALF DOLLAR COINS.—The one dollar 
and half dollar coins minted under this title may be issued in 
uncirculated and proof qualities, except that not more than one 
facility of the United States Mint may be used to strike any particu-
lar combination of denomination and quaUty. 
(c) COMMENCEMENT OF ISSUANCE.—^The coins authorized and 
minted under this title may be issued beginning on January 1, 
1993. 
(d) TERMINATION OF AUTHORITY.—Coins may not be minted under 
this title after December 31,1993. 
SEC. 505. SALE OF COINS. 
(a) IN GENERAL.—^Notwithstanding any other provision of law, 
the Secretary shall sell the coins minted under this title at a 
price at least equal to the face value, plus the cost of minting 
and issuing the coins (including labor, materials, overhead, dis-
tribution, and promotional expenses). 
(b) BULK SALES.—^The Secretary shall make any bulk sales of 
the coins minted under this title at a reasonable discount. 
(c) PREPAID ORDERS.—^The Secretary shall accept prepaid orders 
for the coins minted under this title prior to the issuance of such 
coins. Sale prices with respect to such prepaid orders shall be 
at a reasonable discount. 
(d) SURCHARGES.—^All sales of coins minted under this title shall 
include a surcharge of $30 per coin for the five dollar coins, $6 
per coin for the one dollar coins, and $3 per coin for the half 
dollar coins. 
SEC. 506. FINANCIAL ASSURANCES. 
(a) No NET COST TO THE GOVERNMENT.—The Secretary shall 
take such actions as may be necessary to ensure that minting 
and issuing coins under this title will not result in any net cost 
to the United States Government. 
(b) PAYMENT FOR COINS.—^A coin shall not be issued under this 
title unless the Secretary has received— 
(1) full payment for the coin; 
(2) security satisfactory to the Secretary to indemnify the 
United States for full payment; or 
(3) a guarantee of full payment satisfactory to the Secretary 
from a depository institution the deposits of which are insured 
by the Federal Deposit Insurance Corporation or the National 
Credit Union Administration Board. 
(c) REPORTS TO CONGRESS.—Not later than fifteen days afl»r 
the last day of each month, the Secretary shall transmit to the 
Committee on Banking, Finance and Urban Affairs of the House 
of Representatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate a report detailing activities carried 
out under this title during such month. The report shall include 
a review of all marketing activities and a financial statement which 
106 STAT. 148 
PUBLIC LAW 102-281—MAY 13, 1992 
details sources of funds, surcharges generated, and expenses 
incurred for manufacturing, materials, overhead, packaging, mar-
keting, and shipping. No report shall be required after January 
15,1994. 
SEC. 507. DISTRIBUTION OF SURCHARGES. 
The surcharges received by the Secretary shall be transmitted 
promptly to the James Madison Memoried Fellowship Trust Fund 
established in 1986 by the James Madison Memorial Fellowship 
Act (20 U.S.C. 4501 et seq.). Such transmitted amounts shall qualify 
under section 811(a)(2) of that Act as funds contributed from private 
sources. In accordance with the purposes of the James Madison 
Fellowship Program, the funds transmitted to the Trust Fund shall 
be used to encourage teaching and graduate study of the Con-
stitution of the United States, its roots, its formation, its principles, 
and its development. 
SEC. 508. AUDITS. 
The Comptroller General of the United States shall have the 
right to examine such books, records, documents, and other data 
as may be related to the expenditure of amounts transmitted under 
section 507 of this title. The expenditures and audit of surcharge 
funds deposited in the James Madison Memorial Fellowship Trust 
Fund under section 507 of this title shall be done in accordance 
with section 812 of the James Madison Memorial Fellowship Act 
(20 U.S.C. 4511). Annual reports shall be submitted by the (Chair-
man of the James Madison Memorial Fellowship Foundation to 
both Houses of Congress on all expenditures of surcharge funds. 
SEC. 
5
0
9
. 
GENERAL 
WAIVER 
OF 
PROCUREMENT 
REGULATIONS. 
(a) IN GENERAL.—^Except as provided in subsection (b), no provi-
sion of law governing procurement or public contracts shall be 
applicable to the procurement of goods and services necessary for 
carrying out the provisions of this title. 
(b) EQUAL EMPLOYMENT OPPORTUNITY.—Subsection (a) shall not 
relieve any person entering into a contract under the authority 
of this title from complying with any law relating to equal employ-
ment opportunity. 
Approved May 13, 1992. 
LEGISLATIVE HISTORY—H.R. 3337: 
HOUSE REPORTS: Nos. 102-454 and 102-485 (both from Comm. of Conference). 
CONGRESSIONAL RECORD: 
Vol. 137 (1991): Nov. 26, considered and passed House. 
Nov. 27, considered and passed Senate, amended. 
Vol. 138 (1992): Feb. 18, 19, House considered £md rejected Senate amendment. 
Apr. 1, House considered and recommitted conference report. 
Apr. 8, House agreed to conference report. 
Apr. 28, Senate agreed to conference report.