H.R.902 - Presidential $1 Coin Act of 2005109th Congress (2005-2006)
|Sponsor:||Rep. Castle, Michael N. [R-DE-At Large] (Introduced 02/17/2005)|
|Committees:||House - Financial Services | Senate - Banking, Housing, and Urban Affairs|
|Committee Reports:||H. Rept. 109-39|
|Latest Action:||04/28/2005 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
|Major Recorded Votes:||04/27/2005 : Passed House|
|Notes:||For further action, see S.1047, which became Public Law 109-145 on 12/22/2005.|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
Summary: H.R.902 — 109th Congress (2005-2006)All Bill Information (Except Text)
Passed House amended (04/27/2005)
(This measure has not been amended since it was reported to the House on April 13, 2005. The summary of that version is repeated here.)
Presidential $1 Coin Act of 2005 - Title I: Presidential $1 Coins - (Sec. 102) Amends Federal monetary law to set forth requirements for the redesign and issuance of circulating $1 coins emblematic of each President of the United States beginning January 1, 2007, and ending when each President who has finished his or her period of service has been so honored.
Requires inscription of the year of minting or issuance of the coin and the inscriptions "E Pluribus Unum" and "In God We Trust" to be edge-incused into the coin in a manner that preserves the distinctive edge of the coin so that the denomination of the coin is readily discernible, including by individuals who are blind or visually impaired.
Prohibits inclusion of a President who has not completed his or her term of service (sitting President).
(Sec. 103) Instructs the Secretary of the Treasury to: (1) issue gold bullion $10 coins emblematic of the spouse of each such President during the same period in which the $1 coins are issued; (2) prescribe the maximum number of bullion coins issued with each design selected; and (3) announce the maximum number of bullion coins that will be issued before the issuance of each such design.
Provides for the design of such a bullion coin in the case of any President who served without a spouse.
Authorizes the Secretary to strike and sell bronze medals that bear the likeness of such authorized bullion coins.
(Sec. 104) Expresses the sense of Congress that: (1) the continued minting and issuance of the so-called "Sacagawea-design" $1 coins will serve as a lasting tribute to the role of women and Native Americans in the history of the United States; (2) the American tradition of not issuing a coin with the image of a living person has served the country well and deserves to be continued as a general practice; (3) the full circulation potential and cost-savings benefit projections for the presidential $1 coin program are not likely to be achieved unless the coins are delivered in ways useful to ordinary commerce; (4) if the Secretary of the Treasury determines to include a mark denoting the U.S. Mint facility at which the coin was struck on any $1 coin minted under this Act, such mark should be edge-incused; (5) at such time as the Board of Governors of the Federal Reserve System determines appropriate, it should separate, sequester, and not put back into circulation, any $1 coin that does not bear the designs specified in this Act; (6) the Director of the U.S. Mint should work to ensure to take all steps necessary to expand the marketplace for bullion coins, and reduce barriers to their sale; and (7) the Board of Governors of the Federal Reserve System and the Secretary of the Treasury should take specified steps to ensure that an adequate supply of $1 coins is available for commerce and collectors.
Title II: Abraham Lincoln Bicentennial 1-Cent Coin Redesign - Instructs the Secretary of the Treasury to issue 1-cent coins during the year 2009, in accordance with prescribed design specifications.
(Sec. 203) Requires the design on the reverse of the 1-cent coins issued after December 31, 2009, to bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country.
(Sec. 205) Expresses the sense of Congress that the original Victor David Brenner design for the 1-cent coin was a dramatic departure from previous American coinage that should be reproduced, using the original form and relief of the likeness of Abraham Lincoln, on the 1-cent coins issued in 2009.