Detailed Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Problem:SECTION 1. SHORT TITLE.

This Act may be cited as the ''Numismatic Rarities Certainty Act of
2006''.

SEC. 2. DISPOSITION OF CERTAIN UNITED STATES COINS.

(a) In General.--Subchapter II of chapter 51, United States Code,
is amended by adding at the end the following new section:
''Sec. 5123. Inventory and disposition of certain United States coins,
medals, and numismatic items
''(a) Coins, Medals, and Numismatic Items Made Before 1933.--Any
coin, medal, or numismatic item made or issued by the United States
Government before January 1, 1933, that, as of the date of the
enactment of the Numismatic Rarities Certainty Act of 2006, is not in
the possession of the United States Government shall not be considered
to be property of the United States, unless the coin, medal, or
numismatic item is reacquired by the United States Government for value
given in a sale or exchange.
''(b) Coins, Medals, and Numismatic Items Made After 1932.--
''(1) In general.--In the case of any coin, medal, or
numismatic item that--
''(A) was struck or made by the United States
Government after December 31, 1932;
''(B) was never issued by the United States
Government; and
''(C) comes into the possession of the United
States Government,
the coin, medal, or numismatic item shall be transferred to the
Secretary of the Treasury, if not already in the Secretary's
possession, and the Secretary shall take the appropriate action
required with respect to such coin, medal, or numismatic item
under paragraph (2).
''(2) Disposition of coins, medals, or numismatic items.--
''(A) Determination of available items.--Upon
taking possession of any coin, medal, or numismatic
item under paragraph (1), the Secretary of the Treasury
shall make a determination of the number and condition
of the coins, medals, or numismatic items of the same
denomination, quality, type, and year of production as
the coin, medal, or numismatic item referred to in such
paragraph, taking into account the most recent
inventory conducted in accordance with subsection (c).
''(B) Historic preservation and public display.--
The Secretary shall ensure that an appropriate number
of any coin, medal, or numismatic item of the same
denomination, quality, type, and year of production
that are or come into the Secretary's possession--
''(i) are retained for historical purposes;
and
''(ii) are made available for public
viewing at such times and places as the
Secretary, in the sole discretion of the
Secretary, determines to be appropriate.
''(C) Sale of excess at public auction.--
''(i) In general.--If the Secretary
determines that the number of any coins,
medals, or numismatic items of the same
denomination, quality, type, and year of
production that are in the Secretary's
possession exceeds the number that are
appropriate for historic preservation and
public display under subparagraph (B), the
Secretary may dispose of such excess, or such
portion of the excess as the Secretary
determines to be appropriate, at public
auction.
''(ii) Proceeds.--The proceeds from any
auction conducted by the Secretary under clause
(i) shall be deposited in an endowment fund for
the National Numismatic Collection at the
Smithsonian Institution.
''(iii) Rule of construction.--No provision
of this section may be construed as authorizing
the United States Mint to establish a national
museum of money or any other museum.
''(D) Standards.--In making any determination with
regard to any public auction of coins, medals, or
numismatic items under subparagraph (C)(i), the
following standards shall be taken into account by the
Secretary:
''(i) Maximum return to the Government.
''(ii) Interest of the numismatic community
in the sale and in the items to be offered for
sale.
''(iii) Interest of the general public in
the items to be offered for sale.
''(E) Destruction of unsold excess.--Any coins,
medals, or numismatic items that--
''(i) were determined by the Secretary,
under subparagraph (C)(i) to be in excess of
the number of such coins, medals, or numismatic
items that are appropriate for historic
preservation and public display under
subparagraph (B); and
''(ii) remain unsold following an auction
under such subparagraph, or were withheld from
such auction by the Secretary in accordance
with subparagraph (C)(i),
may be treated as obsolete and disposed of in the
manner provided in section 5120.
''(c) Inventory.--
''(1) In general.--By January 1, 2007, and every 5 years
thereafter, the Secretary of the Treasury shall conduct and
compile an inventory of all coins, medals, or numismatic items
that are in the possession of the United States Government or
that are on loan to, or were at any time presented to or
retained by, any person or entity (other than in accordance
with a specific requirement of an Act of Congress) regardless
of when such coin, medal, or numismatic item was struck or
made.
''(2) Report on inventory.--The Secretary of the Treasury
shall submit the inventory together with a report containing
any findings, recommendations, or conclusions of the Secretary
with respect to the inventory to the President and the Congress
before January 31, 2007, and every 5 years thereafter.
''(d) Definition.--For purposes of this section, the term
'numismatic item' has the same meaning as in section 5134(a)(3) (which
includes dies, test pieces, and other products relating to such items).
''.
(b) Clerical Amendment.--The table of sections for chapter 51,
United States Code, is amended by inserting after the item relating to
section 5122 the following new item:

''5123. Inventory and disposition of certain United States coins,
medals, and numismatic items.''.
Solution:
Numismatic Rarities Certainty Act of 2006 - Amends federal law governing coins and currency to provide that any coin, medal, or numismatic item made or issued by the United States before January 1, 1933, that is not in the possession of the federal government as of the date of the enactment of this Act, shall not be considered to be property of the United States unless it is reacquired by the United States for value given in a sale or exchange. Requires transfer to the Secretary of the Treasury of any coins, medals, and numismatic items that were struck or made by the U.S. government after 1932, which were never issued by the U.S. government, and yet come into its possession.

Prescribes guidelines for disposition of such items, including historic preservation, public display, and sales at public auction.

Requires the Secretary to compile an inventory of all coins, medals, or numismatic items that are either: (1) in the possession of the U.S. government; or (2) on loan to, or were at any time presented to or retained by, any person or entity (other than in accordance with a specific requirement of federal law), regardless of when such item was struck or made.