Summary: S.1047 — 109th Congress (2005-2006)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Public Law No: 109-145 (12/22/2005)

(This measure has not been amended since it was passed by the Senate on November 18, 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. Requires such coins to be issued in the order of the period of service of each President, beginning with President George Washington. Restricts such coin series to deceased Presidents.

States that following the termination of the issuance of such coins the design of all $1 coins shall revert to the so-called "Sacagawea-design" $1 coins.

(Sec. 103) Instructs the Secretary of the Treasury (Secretary) to issue bullion coins emblematic of the spouse of each such President during the same period in which the $1 coins are issued. States that the nominal denomination of such coins shall be $10.

(Sec. 104) Prescribes a deadline by which designated governmental agencies and instrumentalities shall: (1) ensure that their business operations involving coins or currency will be fully capable of accepting and dispensing $1 coins; and (2) display signs and notices denoting such capability on the premises where coins or currency are accepted or dispensed, including on each vending machine.

(Sec. 105) Expresses the sense of Congress regarding the issuance of such coins, including that: (1) it will serve to increase the use of $1 coins generally, especially the "Sacagawea-design" $1 coins; and (2) continued minting and issuance of the "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.

Title II: Buffalo Gold Bullion Coins - (Sec. 201) Instructs the Secretary to strike and issue for sale $50 gold bullion and proof coins initially bearing the original designs by James Earle Fraser, which appear on the 5-cent coin commonly referred to as the "Buffalo nickel" or the "1913 Type 1."

Requires such bullion coins to be sold in an inexpensive covering that will: (1) protect the coin from damage due to ordinary handling or storage; and (2) be readily distinguishable from any coin packaging that may be used to protect proof coins.

Title III: Abraham Lincoln Bicentennial 1-Cent Coin Redesign - (Sec. 302) Directs the Secretary to issue 1-cent coins during the year 2009, whose obverse design continues to bear the Victor David Brenner likeness of President Abraham Lincoln, and whose reverse design bears four different designs, each representing a different aspect of Lincoln's life.

(Sec. 303) Requires 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. 304) Directs the Secretary to issue 1-cent coins during 2009 with the exact metallic content as the 1-cent coin contained in 1909.

(Sec. 305) 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.