Olympic Commemorative Coin Act
PL 97-220 (S.1230), enacted 07/22/1982

96 STAT. 222 
PUBLIC LAW 97-220—JULY 22, 1982 
Public Law 97-220 
97th Congress 
An Act 
lulv 22 1982 
•' 
' 
— To provide for the minting of commemorative coins to support the 1984 Los Angeles 
[S. 1230] 
Olympic Games. 
Be it enacted by the Senate and House of Representatives of the 
Olympic 
United States of America in Congress assembled, 
Commemorative 
Coin Act. 
31 u s e 5112 
SHORT TITLE 
note. 
SECTION 1. This Act may be cited as the "Olympic Commemorative 
Coin Act". 
COIN SPECIFICATIONS 
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SEC. 2. (a)(1) Notwithstanding any other provision of law, the 
"°^" 
Secretary of the Treasury (hereinafter in this Act referred to as the 
"Secretary") shall issue not more than fifty million one-dollar coins 
which shall weigh 26.73 grams, have a diameter of 1.50 inches, and 
shall contain 90 per centum silver and 10 per centum copper. 
(2) The Secretary shall determine the design of such one-dollar 
coins. Such design shall be emblematic of the 1984 summer Olympic 
games which are to be held in Los Angeles, California. On each such 
one-dollar coin there shall be 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". 
(3) The coins shall be issued in two separate designs, one in 1983 
and one in 1984. 
Ot))(l) Notwithstanding any other provision of law, the Secretary 
shall issue not more than two million ten-dollar coins which shall 
weigh 16.718 grams, have a diameter of 1.06 inches, and shall 
contain 90 per centum gold and 10 per centum copper. 
(2) The Secretary shall determine the design of such ten-dollar 
coin. Such design shall be emblematic of the 1984 summer Olympic 
games which are to be held in Los Angeles, California. On each such 
ten-dollar coin there shall be a designation of the value of the coin, 
an inscription of the year 1984, and inscriptions of the words 
"Liberty", "In God We Trust", "United States of America", and "E 
Pluribus Unum". 
(c) The coins issued under this section shall be issued in uncircu-
lated and proof qualities. 
(d) All coins issued under this section shall be legal tender as 
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provided in section 102 of the Coinage Act of 1965. 
(e)(1) The Secretary shall obtain gold for the coins minted under 
this Act pursuant to the authority of the Secretary under existing 
law. 
(2) The Secretary shall obtain silver for the coins minted under 
this Act from stocks of silver held by the Secretary of the Treasury 
or from any other federally owned stocks of silver. 
PUBLIC LAW 97-220—JULY 22, 1982 
96 STAT. 223 
SALES WITHIN THE UNITED STATES 
SEC. 3. (a) Notwithstanding any other provision of the law, the 31 USC 5112 
coins issued under this Act shall be sold within the United States ^°^^-
(including United States military and diplomatic establishments 
outside the United States) by the Secretary under such regulations 
as he may prescribe and at a price equal to face value, plus the cost 
of issuing such coins (including labor, materials, dies, use of machin-
ery, and overhead expenses). 
(b) The Secretary shall make bulk sales at a reasonable discount 
to reflect the lower costs of such sales. 
(c) 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) All sales shall include a surcharge, established by the Secre-
tary, of not less than $10 per coin for one-dollar coins and not less 
than $50 per coin for ten-dollar coins. 
INTERNATIONAL SALES 
SEC. 4. (a) The Secretary shall assign the rights to market the 31 USC 5112 
coins outside the United States (excluding United States military ^°^^-
and diplomatic establishments outside the United States) to a mar-
keting organization selected under section 5. 
(b) The marketing organization assigned the rights under this 
section shall pay a price determined under sections 3 (b) and (d). 
SELECTION OF INTERNATIONAL MARKETERS 
SEC. 5. (a) As soon as possible after the effective date of this Act, a 31 USC 5112 
committee consisting of the Secretary of the Treasury, the executive ^°*®' 
director of the United States Olympic Committee, and the president 
of the Los Angeles Olympic Organizing Committee, shall solicit, in 
accordance with procedures specified by the Secretary of the Treas-
ury, proposals from marketing organizations to carry out a market-
ing agreement. Such procedures shall include the publication of 
evaluation criteria that will serve as a basis for selecting one or 
more marketing organizations. Such criteria shall include— 
(1) the financial resources and coin marketing experience of 
the marketing organization; 
(2) the estimated proceeds from the sale or other disposition of 
the coins; and 
(3) the commitment of the marketing organization to pur-
chase a certain minimum number of such coins or to pay the 
surcharge on such coins; and 
(4) the terms and conditions for the marketing of the coins, 
including— 
(A) proper and equitable distribution of the coins, and 
(B) accurate and otherwise appropriate advertising mate-
rials to be used in promoting the coins. 
(b) Within forty-five days after the effective date of this Act, the 
committee shall consider all proposals received from marketing 
organizations under subsection (a) and select by majority vote one or 
more marketing organizations which offer the terms for marketing 
of the coins most favorable in accordance with the published evalua-
tion criteria. Any marketing organization selected shall be accept-
able to the Secretary of the Treasury. 
96 STAT. 224 
PUBLIC LAW 97-220—JULY 22, 1982 
DISTRIBUTION OF PROCEEDS 
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SEC. 6. (a) Fifty per centum of the amount of all surcharges which 
^°^- 
are received by the Secretary from the sale of coins issued under 
this Act shall be promptly paid by the Secretary to the United 
States Olympic Committee. Such amounts shall be used to train 
United States Olympic athletes, to support local or community 
amateur athletic programs, and to erect facilities for the training of 
such athletes. 
(b) Fifty per centum of the amount of all surcharges which are 
received by the Secretary from the sale of coins under this Act shall 
be promptly paid by the Secretary to the Los Angeles Olympic 
Organizing Committee. Such amounts shall be used to stage and 
promote the 1984 Los Angeles Olympic games. 
(c) Amounts received by the Secretary from advance sale of coins 
to be issued under this Act shall be paid to the United States 
Olympic Committee and the Los Angeles Olympic Organizing Com-
mittee under subsections (a) and (b), provided that any amounts paid 
to the Committees shall not exceed an amount equivalent to the 
surcharges received by the Secretary from the advance sale of coins. 
Remittance date. 
(d)(1) On March 31, 1985, the Los Angeles Olympic Organizing 
Committee shall remit to the United States Olympic Committee all 
amounts remaining from the disposition of the coins under this Act, 
In no event may such amount be less than that portion of the 
unobligated funds of the committee on that date represented by the 
ratio of the total amount of income received by the committee from 
the disposition of the coins minted under this Act to the total 
amount of income received by the committee from all sources. 
(2) After March 31, 1985, all amounts received by the committee 
from the disposition of coins minted under this Act shall be remitted 
within ten days to the United States Olympic Committee. 
(3) All amounts received by the United States Olympic Committee 
under this subsection shall be used solely for the purposes described 
in subsection (a). 
IMPLEMENTATION AGREEMENT 
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SEC. 7. (a) The Secretary of the Treasury shall enter into an 
"°*^®- 
agreement with the marketing organization selected under section 5 
which shall provide for the implementation of that section and 
which shall include an agreement on— 
(1) the price and schedule of payments for the coins; 
(2) the schedule and other provisions for the delivery of the 
coins; and 
(3) the proportions of proof and uncirculated coins. 
(b) The agreement between the Secretary of the Treasury and the 
committee shall ensure that the issuance of coins under this section 
shall result in no net cost to the United States Government. 
(c) The agreement between the Secretary of the Treasury and the 
marketing organization shall direct that the marketing organization 
shall not use any words, perform any act, or make any statement, 
written or oral, which would imply or indicate, or tend to imply or 
indicate, that any portion of the coins' sale price to the public 
constitutes a tax-deductible contribution. 
(d) To the extent possible, the agreement between the Secretary of 
the Treasury and the marketing organization shall be concluded 
PUBLIC LAW 97-220—JULY 22, 1982 
96 STAT. 225 
within sixty days of the date of the selection of the marketing 
organization. 
(e) The Secretary may terminate the implementation agreement Termination. 
and cease minting and the delivery of the coins issued under this 
section if the Secretary of the Treasury finds that such termination 
is in the best interests of the United States. Reasons for such 
termination may include actions which are inconsistent with the 
terms of the implementation agreement or advertising materials 
that are inappropriate for advertising the sale of United States 
coinage or otherwise not in keeping with the dignity of the United 
States coinage. 
(f) If the Secretary of the Treasury exercises his authority under 
subsection (e), the amount of any proceeds guaranteed to the Los 
Angeles Olympic Organizing Committee and the United States 
Olympic Committee by a marketing organization under a marketing 
agreement shall not be reduced. 
COINAGE PROFIT FUND 
SEC. 8. Notwithstanding any other provision of law— 
31 USC 5112 
(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 
section 6 from the coinage profit fund; and 
(3) the Secretary shall charge the coinage profit fund with all 
expenditures under this Act. 
AUDITS 
SEC. 9. The Comptroller General of the United States shall have 
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the right to examine such books, records, documents, and other data ^°^^' 
of the United States Olympic Committee and the Los Angeles 
Olympic Organizing Committee as may be related to the expendi-
ture of amounts paid under section 6. 
FINANCIAL ASSURANCES 
SEC. 10. (a) The Secretary shall take all actions necessary to 31 use 5112 
ensure that the issuance of the coins authorized by this Act shall ^°^^-
result in no net cost to the United States Government. 
(b) No coin shall be issued under this Act unless the Secretary has 
received full payment therefor. 
(c) The Secretary shall certify, in reports required to be filed 
under section 11 of this Act, that he is in compliance with this 
section. 
96 STAT. 226 
PUBLIC LAW 97-220—JULY 22, 1982 
REPORTS TO CONGRESS 
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SEC. 11. Not later than forty-five days after the last day of each 
"°^^- 
calendar quarter, the Secretary shall transmit a report to the 
Congress regarding the activities carried out under this Act during 
such calendar quarter. No such report shall be required with respect 
to any calendar quarter beginning after December 31,1985. 
Approved July 22, 1982. 
LEGISLATIVE HISTORY—S. 1230: 
HOUSE REPORT No. 97-554 (Comm. on Banking, Finance and Urban Affairs). 
SENATE REPORT No. 97-264 (Comm. on Banking, Housing, and Urban Affairs). 
CONGRESSIONAL RECORD: 
Vol. 127 (1981): Dec. 9, considered and passed Senate. 
Vol. 128 (1982): May 20, considered and passed House, amended. 
July 1, Senate concurred in House amendment.