Summary: H.R.5408 — 101st Congress (1989-1990)All Information (Except Text)

There is one summary for H.R.5408. Bill summaries are authored by CRS.

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Introduced in House (07/30/1990)

United States Mint Reauthorization and Reform Act of 1990 - Title I: Reauthorization of Appropriations - Amends Federal law to reauthorize appropriations for the United States Mint for FY 1991.

Title II: Reform of United States Mint Operations - Directs the Secretary of the Treasury to establish and maintain an annual commemorative coin program for the minting of no more than one coin a year to commemorate any historical event, person, or place of national significance. Requires the Secretary to designate the event, person, or place to be commemorated by the issuance of coins in each of the five calendar years to follow. Sets forth the specifications of the coins to be minted. Directs the Secretary to provide for the establishment of a design selection advisory council.

Requires coins minted under this Act to be sold only during the calendar year designated.

Requires the Secretary to ensure that minting and issuing commemorative coins will not result in any net cost to the Government.

Requires the Secretary to consult with the design selection advisory council before selecting any new design for any coin.

Establishes in the U.S. Treasury a revolving Numismatic Public Enterprise Fund for numismatic operations and programs of the U.S. Mint without fiscal year limitation. Requires an annual report to the Congress on such Fund.

Requires inclusion of the Fund in the President's budget, with treatment as a wholly owned Government corporation.

Amends Federal law to prohibit the false advertising or misuse of the words "United States Mint" or "U.S. Mint."

Requires all national medals to have a common reverse side.

Repeals the authority of: (1) the Secretary to operate, maintain, and have custody of the mint at Philadelphia; and (2) the Administrator of General Services to make repairs and improvements to it.

Requires the Secretary of the Treasury to fix the rates of pay for police forces of the Bureau of Engraving and Printing and the United States Mint.

Increases the rate of pay of the Director of the United States Mint.

Directs the Secretary to establish a standardized automated accounting system for the U.S. Mint before October 1, 1993.

Counts the cost of coin bags and pallets as part of the cost of distributing coins.

Redesignates the Bureau of the Mint as the United States Mint.

Authorizes the Bureau of Engraving and Printing to print foreign currencies and securities on a reimbursable basis.

Title III: Silver Proof Sets - Silver Coin Proof Set Act - Authorizes the Secretary to mint and issue silver coin proof sets. Sets forth specified features of such coins and provides for their sale to the public.

Requires the Secretary to obtain silver for such coins by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act and from Treasury stocks on hand.