1988 Olympic Commemorative Coin Act
PL 100-141 (H.R.2741), enacted 10/28/1987

101 STAT. 832 
PUBLIC LAW 100-141—OCT. 28, 1987 
Public Law 100-
100th Congress 
141 
Oct. 28, 1987 
[H.R. 2741] 
1988 Olympic 
Commemorative 
Coin Act. 
31 u s e 5112 
note. 
31 u s e 5112 
note. 
31 u s e 5112 
note. 
An Act 
To authorize the minting of commemorative coins to support the training of 
American athletes participating in the 1988 Olympic Games. 
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 "1988 Olympic Commemorative Coin 
Act". 
SEC. 2. COIN SPECIFICATIONS. 
•
> 
- 
' 
>
; . ' 
) / 
,5 
•• (a) FIVE DOLLAR GOLD COINS.— 
(1) ISSUANCE.—The Secretary of the Treasury (hereinafter in 
this Act referred to as the "Secretary") shall issue not more 
than one million 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. 
(2) DESIGN.—The design of such five dollar coins shall be 
emblematic of the participation of American athletes in the 
1988 Olympic Games. On each such coin there shall be a 
designation of the value of the coin, an inscription of the year 
"1988", and inscriptions of the words "Liberty", "In God We 
Trust", "United States of America", and "E Pluribus Unum". 
Oo) ONE DOLLAR SILVER COINS.— 
(1) ISSUANCE.—The Secretary shall issue not more than ten 
million 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 participation of American athletes in the 1988 Olym-
pic Games. On each such coin there shall be a designation of the 
value of the coin, an inscription of the year "1988", and inscrip-
tions of the words "Liberty", "In God We Trust", "United States 
of America", and "E Pluribus Unum". 
(c) LEGAL TENDER.—The coins issued under this Act shall be legal 
tender £is provided in section 5103 of title 31, United States Code. 
SEC. 3. SOURCES OF BULLION. 
(a) SILVER BULLION.—The Secretary shall obtain silver for the 
coins minted under this Act only from stockpiles established under 
the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et 
seq.). 
O3) GOLD BULLION.—The Secretary shall obtain gold for the coins 
minted under this Act pursuant to the authority of the Secretary 
under existing law. 
. . 7 
. 
..)-', r 
w> '^ 
PUBLIC LAW 100-141—OCT. 28, 1987 
101 STAT. 833 
SEC. 4. SELECTION OF DESIGN. 
. 
- 
31 USC 5112 
The design for each coin authorized by this Act shall be selected 
by the Secretary after consultation with the United States Olympic 
Committee and the Commission of Fine Arts. 
SEC. 5. SALE OF THE COINS. 
31 USC 5112 
(a) SALE PRICE.—Notwithstanding any other provision of law, the 
, ^ 
coins issued under this Act 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, and over-
head expenses). 
(b) BULK SALES.—The Secretary shall make bulk sales at a reason-
able discount to reflect the lower costs of such sales. 
(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 shall be at a reasonable discount to reflect the 
benefit of prepayment. 
(d) SURCHARGE REQUIRED.—All sales shall include a surcharge of 
,,., . ,.i: 
$35 per coin for the five dollar coins and $7 per coin for the one 
dollar coins. 
SEC. 6. ISSUANCE OF THE COINS. 
31 USC 5112 
(a) GOLD COINS.—The five dollar coins authorized under this Act New York. 
shall be issued in uncirculated and proof qualities and shall be 
struck at the United States Bullion Depository at West Point. 
-- • 
(b) SILVER COINS.—The one dollar coins authorized under this Act 
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 each such quality. 
(c) SUNSET PROVISION.—No coins shall be minted under this Act 
after June 30,1989. 
SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS. 
31 USC 5112 
No provision 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 Act. Nothing in this section 
shall relieve any person entering into a contract under the authority 
of this Act from complying with any law relating to equal employ-
ment opportunity. 
SEC. 8. DISTRIBUTION OF SURCHARGES. 
31 USC 5112 
All surcharges which are received by the Secretary from the sale 
of coins issued under this Act shall be promptly paid by the Sec-
retary to the United States Olympic Committee. Such amounts shall 
be used by the United States Olympic Committee solely to train 
United States Olympic athletes, to support local or community 
amateur athletic programs, and to erect facilities for the training of 
such athletes. 
SEC. 9. AUDITS. 
31 USC 5112 
The Comptroller General shall have the right to examine such 
books, records, documents, and other data of the United States 
Olympic Committee £is may be related to the expenditure of 
amounts paid under section 8. 
SEC. 10. COINAGE PROFIT FUND. 
31 USC 5112 
Notwithstanding any other provision of law— 
101 STAT. 834 
PUBLIC LAW 100-141—OCT. 28, 1987 
;
* it' 
^ 
(1) all amounts received from the sale of coins issued under 
"
^ 
this Act shall be deposited in the coinage profit fund; 
(2) the Secretary shall pay the amounts authorized under this 
Act from the coinage profit fund; and 
(3) the Secretary shall charge the coinage profit fund with all 
expenditures under this Act. 
31USC5112 
SEC. 11. FINANCIAL ASSURANCES. 
(a) No NET COST TO THE GOVERNMENT.—The Secretary shall take 
all actions necessary to ensure that the issuance of the coins au-
thorized by this Act shall result in no net cost to the United States 
Government. 
(h) ADEQUATE SECURITY FOR PAYMENT REQUIRED.—No coin shall be 
issued under this Act unless the Secretary has received— 
(1) full payment therefor; 
''s 
(2) security satisfactory to the Secretary to indemnify the 
United States for full payment; or 
Insurance. 
^^ 
(3) a guarantee of full payment satisfactory to the Secretary 
•
^ 
from a depository institution whose deposits are insured by the 
Federal Deposit Insurance Corporation, the Federal Savings 
•J. 
» •>.; 
and Loan Insurance Corporation, or the National Credit Union 
Administration Board. 
Approved October 28, 1987. 
. 
, 5 , 
•
•
•
•
*
'
'
'
•
,
"
.
'
- 
• ' • ' 
-rv-i 
* f ' * 
CJ,! 
LEGISLATIVE HISTORY—H.R. 2741: 
SENATE REPORTS: No. 100-197 (Comm. on Banking, Housing, and Urban Affairs). 
CONGRESSIONAL RECORD, Vol. 133 (1987): 
Aug. 6, considered and passed House. 
Oct. 13, considered and passed Senate, amended. 
• 
' 
. i 
Oct. 14, House concurred in Senate amendment.