Text: H.R.2018 — 104th Congress (1995-1996)All Information (Except Text)

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Introduced in House (07/12/1995)

 
[Congressional Bills 104th Congress]
[From the U.S. Government Printing Office]
[H.R. 2018 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 2018

To amend section 5112 of title 31, United States Code, to authorize the 
Secretary of the Treasury to mint and issue platinum bullion coins and 
to mint and issue more than 1 version of gold bullion coins at the same 
                                 time.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 12, 1995

Mr. Olver (for himself, Mr. Davis, Mr. Gilman, Mr. Pete Geren of Texas, 
Mr. Payne of Virginia, Mr. Moran, Mrs. Kelly, and Mr. Shays) introduced 
the following bill; which was referred to the Committee on Banking and 
                           Financial Services

_______________________________________________________________________

                                 A BILL


 
To amend section 5112 of title 31, United States Code, to authorize the 
Secretary of the Treasury to mint and issue platinum bullion coins and 
to mint and issue more than 1 version of gold bullion coins at the same 
                                 time.
    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 ``United States Platinum and Gold 
Bullion Coin Act of 1995''.

SEC. 2. PLATINUM COINS.

    (a) In General.--Section 5112 of title 31, United States Code, is 
amended by adding at the end the following new subsection:
    ``(k) Platinum Coins.--
            ``(1) In general.--Notwithstanding any other provision of 
        law, the Secretary of the Treasury may mint and issue platinum 
        coins in such quantity and of such variety as the Secretary 
        determines to be appropriate.
            ``(2) Specifications.--Platinum coins minted under this 
        subsection shall meet such specifications with respect to 
        diameter, weight, design, and fineness as the Secretary, in the 
        Secretary's discretion, may prescribe from time to time.
            ``(3) Legal tender.--The coins minted under this subsection 
        shall be legal tender, as provided in section 5103 of title 31, 
        United States Code.
            ``(4) Numismatic items.--For purposes of section 5134 of 
        title 31, United States Code, all coins minted under this 
        subsection shall be considered to be numismatic items.
            ``(5) Designations and inscriptions.--On each coin minted 
        under this subsection, there shall be--
                    ``(A) a designation of the value of the coin and 
                the weight of the platinum content of the coin;
                    ``(B) an inscription of the year in which the coin 
                is minted or issued; and
                    ``(C) inscriptions of the words `Liberty', `In God 
                We Trust', `United States of America', and `E Pluribus 
                Unum'.
            ``(6) Sale price.--
                    ``(A) Bullion.--The bullion versions of the coins 
                issued under this Act shall be sold by the Secretary at 
                a price equal to the sum of--
                            ``(i) the market value of the coins at the 
                        time of the sale; and
                            ``(ii) the cost of minting, marketing, and 
                        distributing the coins (including labor, 
                        materials, dies, use of machinery, and 
                        promotional and overhead expenses).
                    ``(B) Proof versions.--Proof versions of the coins 
                issued under this Act shall be sold by the Secretary at 
                a price equal to the sum of--
                            ``(i) the cost of designing and issuing the 
                        coins (including labor, materials, dies, use of 
                        machinery, overhead expenses, marketing, and 
                        shipping); and
                            ``(ii) a reasonable profit.
            ``(7) Bulk sales.--The Secretary may make bulk sales of the 
        coins issued under this subsection at a reasonable discount.''.
    (b) Technical and Conforming Amendment.--Section 5112(j)(1) of 
title 31, United States Code, is amended by inserting ``or (k)'' after 
``subsection (e)''.

SEC. 3. AMERICAN EAGLE GOLD COINS AUTHORIZED TO BE PRODUCED IN 2 OR 
              MORE DESIGNS, WEIGHTS, DIAMETERS, OR FINENESSES 
              SIMULTANEOUSLY.

    Section 5112(i)(4) of title 31, United States Code, is amended by 
adding at the end the following new subparagraph:
                    ``(C) Continued minting to statutory specifications 
                after determination to mint coins to changed 
                specifications.--Notwithstanding any other provision of 
                this section, the Secretary may continue to mint and 
                issue coins in accordance with the specifications 
                contained in paragraphs (7), (8), (9), and (10) of 
                subsection (a) and paragraph (1)(A) of this subsection 
                at the same time the Secretary is minting and issuing 
                other coins under this subsection in accordance with 
                specifications adopted by the Secretary pursuant to 
                this paragraph.''.
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