H.R.2018 - United States Platinum and Gold Bullion Coin Act of 1995104th Congress (1995-1996)
|Sponsor:||Rep. Olver, John W. [D-MA-1] (Introduced 07/12/1995)|
|Committees:||House - Banking and Financial Services|
|Latest Action:||House - 07/28/1995 Referred to the Subcommittee on Domestic and International Monetary Policy. (All Actions)|
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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.''. <all>