Gold Bullion Coin Act of 1985
PL 99-185 (S.1639), enacted 12/17/1985

PUBLIC LAW 99-185—DEC. 17, 1985 
99 STAT. 1177 
Public Law 99-185 
99th Congress 
An Act 
To authorize the minting of gold bullion coins. 
Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress asserfibled, 
SHORT TITLE 
SECTION 1. This Act may be cited as the "Gold Bullion Coin Act of 
1985". 
MINTING GOLD BULUON COINS 
: 
Section 5112(a) of title 31, United States Code, is 
adding at the end thereof the following new 
SEC. 2. (a) 
amended by 
paragraphs: 
"(7) A fifty dollar gold coin that is 32.7 millimeters in diame-
ter, weighs 33.931 grams, and contains one troy ounce of fine 
gold. 
"(8) A twenty-five dollar gold coin that is 27.0 millimeters in 
diameter, weighs 16.966 grams, and contains one-half troy ounce 
,, of fine gold. 
"(9) A ten dollar gold coin that is 22.0 millimeters in diame-
ter, weighs 8.483 grams, and contains one-fourth troy ounce of 
fine gold. 
"(10) A five dollar gold coin that is 16.5 millimeters in diame-
ter, weighs 3.393 grams, and contains one-tenth troy ounce of 
fine gold.", 
(b) Section 5112 of title 31, United States Code, is amended by 
adding at the end thereof the following new subsection: 
"(i)(l) Notwithstanding section 5111(a)(1) of this title, the Sec-
retary shall mint and issue the gold coins described in paragraphs 
(7), (8), (9), and (10) of subsection (a) of this section, in quantities 
sufficient to meet public demand, and such gold coins shall— 
"(A) have a design determined by the Secretary, except that 
the fifty dollar gold coin shall have— 
"(i) on the obverse side, a design symbolic of Liberty; and 
"(ii) on the reverse side, a design representing a family of 
eagles, with the male carrying an olive branch and flying 
above a nest containing a female eagle and hatchlings; 
"(B) have inscriptions of the denomination, the weight of the 
fine gold content, the year of minting or issuance, and the words 
'Liberty', Tn God We Trust', 'United States of America', and 'E 
Pluribus Unum'; and 
"(C) have reeded edges. 
"(2)(A) The Secretary shall sell the coins minted under this subsec-
tion to the public at a price equal to the market value of the bullion 
at the time of sale, plus the cost of minting, marketing, and distrib-
uting such coins (including labor, materials, dies, use of machinery, 
and promotional and overhead expenses). 
Dec. 17, 1985 
[S. 1639] 
Gold Bullion 
Coin Act of 1985. 
31 u s e 5101 
note. 
Ante, p. 115. 
31 u s e 5111. 
Marketing. 
99 STAT. 1178 
PUBLIC LAW 99-185—DEC. 17, 1985 
Regulations. 
Ante, p. 116. 
31 use 5112 
note. 
Marketing. 
National debt. 
31 use 5112 
note. 
"(B) The Secretary shall make bulk sales of the coins minted 
under this subsection at a reeisonable discount. 
"(3) For purposes of section 5132(a)(1) of this title, all coins minted 
under this subsection shall be considered to be numismatic items.". 
(c) Section 5116(a) of title 31, United States Code, is amended by 
adding at the end thereof the following: 
"(3) The Secretary shall acquire gold for the coins issued under 
section 5112(i) of this title by purchase of gold mined from natural 
deposits in the United States, or in a territory or possession of the 
United States, within one year after the month in which the ore 
from which it is derived was mined. The Secretary shall pay not 
more than the average world price for the gold. In the absence of 
available supplies of such gold at the average world price, the 
Secretary may use gold from reserves held by the United States to 
mint the coins issued under section 5112(i) of this title. The Sec-
retary shall issue such regulations as may be necessary to carry out 
this paragraph.". 
(d) Section 5118(b) of title 31, United States Code, is amended— 
(1) in the first sentence, by striking out "or deliver"; and 
(2) in the second sentence, by inserting "(other than gold and 
silver coins)" before "that may be lawfully held". 
(e) The third sentence of section 5132(a)(1) of title 31, United 
States Code, is amended by striking out "minted under section 
5112(a) of this title" and inserting in lieu thereof "minted under 
paragraphs (1) through (6) of section 5112(a) of this title". 
if) Notwithstanding any other provision of law, an amount equal 
to the amount by which the proceeds from the sale of the coins 
issued under section 5112(i) of title 31, United States Code, exceed 
the sum of^ 
(1) the cost of minting, marketing, and distributing such coins, 
and 
(2) the value of gold certificates (not exceeding forty-two and 
two-ninths dollars a fine troy ounce) retired from the use of gold 
contained in such coins, 
shall be deposited in the general fund of the Treasury and shall be 
used for the sole purpose of reducing the national debt. 
(g) The Secretary shall take all actions necessary to ensure that 
the issuance of the coins minted under section 5112(i) of title 31, 
United States Code, shall result in no net cost to the United States 
Government. 
PUBLIC LAW 99-185—DEC. 17, 1985 
99 STAT. 1179 
EFFECTIVE DATE 
SEC. 3. This Act shall take effect on October 1,1985, except that no 
31 USC 5112 
coins may be issued or sold under section 5112(i) of title 31, United ^°^^-
States Code, before October 1,1986. 
Ante, p. 1177. 
Approved December 17, 1985. 
: 
, 
< ^ 
''•; 
'•:•.. I V'\::d-S1i:i'\ 
'--/f.. 
LEGISLATIVE HISTORY—S. 1639: 
CONGRESSIONAL RECORD, Vol. 131 (1985): 
Nov. 14, considered and passed Senate. 
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 21, No. 51 (1985): 
Dec. 17, Presidential statement.