Text: H.R.3679 — 106th Congress (1999-2000)All Information (Except Text)
Public Law No: 106-435 (11/06/2000)
[106th Congress Public Law 435]
[From the U.S. Government Printing Office]
2002 WINTER OLYMPIC COMMEMORATIVE COIN ACT
[[Page 114 STAT. 1916]]
Public Law 106-435
To provide for the minting of commemorative coins to support the 2002
Salt Lake Olympic Winter Games and the programs of the United States
Olympic Committee. <<NOTE: Nov. 6, 2000 - [H.R. 3679]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress <<NOTE: 2002 Winter Olympic
Commemorative Coin Act. Utah 31 USC 5112 note.>> assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``2002 Winter Olympic Commemorative
SEC. 2. COIN SPECIFICATIONS.
(a) Denominations.--The Secretary of the Treasury (hereafter in this
Act referred to as the ``Secretary'') shall mint and issue the following
(1) Five dollar gold coins.--Not more than 80,000 $5 coins,
which shall weigh 8.359 grams, have a diameter of 0.850 inches,
and contain 90 percent gold and 10 percent alloy.
(2) One dollar silver coins.--Not more than 400,000 $1
coins, which shall weigh 26.73 grams, have a diameter of 1.500
inches, and contain 90 percent silver and 10 percent copper.
(b) Design.--The design of the coins minted under this Act shall be
emblematic of the participation of American athletes in the 2002 Olympic
Winter Games. On each coin there shall be a designation of the value of
the coin, an inscription of the year ``2002'', and inscriptions of the
words ``Liberty'', ``In God We Trust'', ``United States of America'',
and ``E Pluribus Unum''.
(c) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(d) Numismatic Items.--For purposes of section 5134 of title 31,
United States Code, all coins minted under this Act shall be considered
to be numismatic items.
SEC. 3. SOURCES OF BULLION.
(a) Gold.--The Secretary shall obtain gold for minting coins under
this Act pursuant to the authority of the Secretary under other
provisions of law.
(b) Silver.--The Secretary shall obtain silver for minting coins
under this Act from any available source, including from stockpiles
established under the Strategic and Critical Materials Stock Piling Act.
SEC. 4. SELECTION OF DESIGN.
The design for the coins minted under this Act shall be--
(1) selected by the Secretary after consultation with--
[[Page 114 STAT. 1917]]
(A) the Commission of Fine Arts;
(B) the United States Olympic Committee; and
(C) Olympic Properties of the United States--Salt
Lake 2002, L.L.C., a Delaware limited liability company
created and owned by the Salt Lake Organizing Committee
for the Olympic Winter Games of 2002 (hereafter in this
Act referred to as ``Olympic Properties of the United
(2) reviewed by the Citizens Commemorative Coin Advisory
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Commencement of Issuance.--The Secretary may issue coins minted
under this Act beginning January 1, 2002, except that the Secretary may
initiate sales of such coins, without issuance, before such date.
(c) Termination of Minting Authority.--No coins shall be minted
under this Act after December 31, 2002.
SEC. 6. SALE OF COINS.
(a) Sale Price.--Notwithstanding any other provision of law, the
coins issued under this Act shall be sold by the Secretary at a price
equal to the face value, plus the cost of designing and issuing such
coins (including labor, materials, dies, use of machinery, overhead
expenses, and marketing).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders at a Discount.--The Secretary shall accept
prepaid orders for the coins minted under this Act before the issuance
of such coins. Sales under this subsection shall be at a reasonable
SEC. 7. SURCHARGES.
(a) Surcharge Required.--All sales shall include a surcharge of $35
per coin for the $5 coins and $10 per coin for the $1 coins.
(b) Distribution.--Subject to section 5134(f ) of title 31, United
States Code, all surcharges which are received by the Secretary from the
sale of coins issued under this Act shall be promptly paid by the
Secretary as follows:
(1) Salt lake organizing committee for the olympic winter
games of 2002.--One half to the Salt Lake Organizing Committee
for the Olympic Winter Games of 2002 for use in staging and
promoting the 2002 Salt Lake Olympic Winter Games.
(2) United states olympic committee.--One half to the United
States Olympic Committee for use by the Committee for the
objects and purposes of the Committee as established in the
Amateur Sports Act of 1978.
[[Page 114 STAT. 1918]]
(c) Audits.--Each organization that receives any payment from the
Secretary under this section shall be subject to the audit requirements
of section 5134(f )(2) of title 31, United States Code.
Approved November 6, 2000.
LEGISLATIVE HISTORY--H.R. 3679 (S. 2266):
SENATE REPORTS: No. 106-355 accompanying S. 2266 (Comm. on Banking,
Housing, and Urban Affairs).
CONGRESSIONAL RECORD, Vol. 146 (2000):
Sept. 19, considered and passed House.
Oct. 23, considered and passed Senate.