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

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

 
[109th Congress Public Law 145]
[From the U.S. Government Printing Office]


[DOCID: f:publ145.109]

[[Page 2663]]

                    PRESIDENTIAL $1 COIN ACT OF 2005

[[Page 119 STAT. 2664]]

Public Law 109-145
109th Congress

                                 An Act


 
To require the Secretary of the Treasury to mint coins in commemoration 
of each of the Nation's past Presidents and their spouses, respectively, 
to improve circulation of the $1 coin, to create a new bullion coin, and 
        for other purposes. <<NOTE: Dec. 22, 2005 -  [S. 1047]>> 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, <<NOTE: Presidential $1 
Coin Act of 2005.>> 

SECTION <<NOTE: 31 USC 5101 note.>> 1. SHORT TITLE.

    This Act may be cited as the ``Presidential $1 Coin Act of 2005''.

                     TITLE I--PRESIDENTIAL $1 COINS

SEC. 101. <<NOTE: 31 USC 5112 note.>> FINDINGS.

    Congress finds the following:
            (1) There are sectors of the United States economy, 
        including public transportation, parking meters, vending 
        machines, and low-dollar value transactions, in which the use of 
        a $1 coin is both useful and desirable for keeping costs and 
        prices down.
            (2) For a variety of reasons, the new $1 coin introduced in 
        2000 has not been widely sought-after by the public, leading to 
        higher costs for merchants and thus higher prices for consumers.
            (3) The success of the 50 States Commemorative Coin Program 
        (31 U.S.C. 5112(l)) for circulating quarter dollars shows that a 
        design on a United States circulating coin that is regularly 
        changed in a manner similar to the systematic change in designs 
        in such Program radically increases demand for the coin, rapidly 
        pulling it through the economy.
            (4) The 50 States Commemorative Coin Program also has been 
        an educational tool, teaching both Americans and visitors 
        something about each State for which a quarter has been issued.
            (5) A national survey and study by the Government 
        Accountability Office has indicated that many Americans who do 
        not seek, or who reject, the new $1 coin for use in commerce 
        would actively seek the coin if an attractive, educational 
        rotating design were to be struck on the coin.
            (6) The President is the leader of our tripartite government 
        and the President's spouse has often set the social tone for the 
        White House while spearheading and highlighting important issues 
        for the country.

[[Page 119 STAT. 2665]]

            (7) <<NOTE: Sacagawea.>> Sacagawea, as currently represented 
        on the new $1 coin, is an important symbol of American history.
            (8) Many people cannot name all of the Presidents, and fewer 
        can name the spouses, nor can many people accurately place each 
        President in the proper time period of American history.
            (9) First Spouses have not generally been recognized on 
        American coinage.
            (10) <<NOTE: Theodore Roosevelt. Earle 
        Fraser. Augustus Saint-Gaudens.>> In order to revitalize the 
        design of United States coinage and return circulating coinage 
        to its position as not only a necessary means of exchange in 
        commerce, but also as an object of aesthetic beauty in its own 
        right, it is appropriate to move many of the mottos and emblems, 
        the inscription of the year, and the so-called ``mint marks'' 
        that currently appear on the 2 faces of each circulating coin to 
        the edge of the coin, which would allow larger and more dramatic 
        artwork on the coins reminiscent of the so-called ``Golden Age 
        of Coinage'' in the United States, at the beginning of the 
        Twentieth Century, initiated by President Theodore Roosevelt, 
        with the assistance of noted sculptors and medallic artists 
        James Earle Fraser and Augustus Saint-Gaudens.
            (11) Placing inscriptions on the edge of coins, known as 
        edge-incusing, is a hallmark of modern coinage and is common in 
        large-volume production of coinage elsewhere in the world, such 
        as the 2,700,000,000 2-Euro coins in circulation, but it has not 
        been done on a large scale in United States coinage in recent 
        years.
            (12) Although the Congress has authorized the Secretary of 
        the Treasury to issue gold coins with a purity of 99.99 percent, 
        the Secretary has not done so.
            (13) Bullion coins are a valuable tool for the investor and, 
        in some cases, an important aspect of coin collecting.

SEC. 102. PRESIDENTIAL $1 COIN PROGRAM.

    Section 5112 of title 31, United States Code, is amended by adding 
at the end the following:
    ``(n) Redesign and Issuance of Circulating $1 Coins Honoring Each of 
the Presidents of the United States.--
            ``(1) Redesign beginning in 2007.--
                    ``(A) In general.--Notwithstanding subsection (d) 
                and in accordance with the provisions of this 
                subsection, $1 coins issued during the period beginning 
                January 1, 2007, and ending upon the termination of the 
                program under paragraph (8), shall--
                          ``(i) have designs on the obverse selected in 
                      accordance with paragraph (2)(B) which are 
                      emblematic of the Presidents of the United States; 
                      and
                          ``(ii) have a design on the reverse selected 
                      in accordance with paragraph (2)(A).
                    ``(B) Continuity provisions.--
                          ``(i) In general.--Notwithstanding 
                      subparagraph (A), the Secretary shall continue to 
                      mint and issue $1 coins which bear any design in 
                      effect before the issuance of coins as required 
                      under this subsection (including the so-called 
                      `Sacagawea-design' $1 coins).

[[Page 119 STAT. 2666]]

                          ``(ii) Circulation quantity.--Beginning 
                      January 1, 2007, and ending upon the termination 
                      of the program under paragraph (8), the Secretary 
                      annually shall mint and issue such `Sacagawea-
                      design' $1 coins for circulation in quantities of 
                      no less than \1/3\ of the total $1 coins minted 
                      and issued under this subsection.''.
            ``(2) Design requirements.--The $1 coins issued in 
        accordance with paragraph (1)(A) shall meet the following design 
        requirements:
                    ``(A) Coin reverse.--The design on the reverse shall 
                bear--
                          ``(i) a likeness of the Statue of Liberty 
                      extending to the rim of the coin and large enough 
                      to provide a dramatic representation of Liberty 
                      while not being large enough to create the 
                      impression of a `2-headed' coin;
                          ``(ii) the inscription `$1'; and
                          ``(iii) the inscription `United States of 
                      America'.
                    ``(B) Coin obverse.--The design on the obverse shall 
                contain--
                          ``(i) the name and likeness of a President of 
                      the United States; and
                          ``(ii) basic information about the President, 
                      including--
                                    ``(I) the dates or years of the term 
                                of office of such President; and
                                    ``(II) a number indicating the order 
                                of the period of service in which the 
                                President served.
                    ``(C) Edge-incused inscriptions.--
                          ``(i) In general.--The inscription of the year 
                      of minting or issuance of the coin and the 
                      inscriptions `E Pluribus Unum' and `In God We 
                      Trust' shall be edge-incused into the coin.
                          ``(ii) Preservation of distinctive edge.--The 
                      edge-incusing of the inscriptions under clause (i) 
                      on coins issued under this subsection shall be 
                      done 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.
                    ``(D) Inscriptions of `liberty'.--Notwithstanding 
                the second sentence of subsection (d)(1), because the 
                use of a design bearing the likeness of the Statue of 
                Liberty on the reverse of the coins issued under this 
                subsection adequately conveys the concept of Liberty, 
                the inscription of `Liberty' shall not appear on the 
                coins.
                    ``(E) Limitation in series to deceased presidents.--
                No coin issued under this subsection may bear the image 
                of a living former or current President, or of any 
                deceased former President during the 2-year period 
                following the date of the death of that President.
            ``(3) Issuance of coins commemorating presidents.--
                    ``(A) Order of issuance.--The coins issued under 
                this subsection commemorating Presidents of the United 
                States shall be issued in the order of the period of 
                service of each President, beginning with President 
                George Washington.

[[Page 119 STAT. 2667]]

                    ``(B) Treatment of period of service.--
                          ``(i) In general.--Subject to clause (ii), 
                      only 1 coin design shall be issued for a period of 
                      service for any President, no matter how many 
                      consecutive terms of office the President served.
                          ``(ii) Nonconsecutive terms.--If a President 
                      has served during 2 or more nonconsecutive periods 
                      of service, a coin shall be issued under this 
                      subsection for each such nonconsecutive period of 
                      service.
            ``(4) Issuance of coins commemorating 4 presidents during 
        each year of the period.--
                    ``(A) In general.--The designs for the $1 coins 
                issued during each year of the period referred to in 
                paragraph (1) shall be emblematic of 4 Presidents until 
                each President has been so honored, subject to paragraph 
                (2)(E).
                    ``(B) Number of 4 circulating coin designs in each 
                year.--The Secretary shall prescribe, on the basis of 
                such factors as the Secretary determines to be 
                appropriate, the number of $1 coins that shall be issued 
                with each of the designs selected for each year of the 
                period referred to in paragraph (1).
            ``(5) Legal tender.--The coins minted under this title shall 
        be legal tender, as provided in section 5103.
            ``(6) Treatment as numismatic items.--For purposes of 
        section 5134 and 5136, all coins minted under this subsection 
        shall be considered to be numismatic items.
            ``(7) Issuance of numismatic coins.--The Secretary may mint 
        and issue such number of $1 coins of each design selected under 
        this subsection in uncirculated and proof qualities as the 
        Secretary determines to be appropriate.
            ``(8) Termination of program.--The issuance of coins under 
        this subsection shall terminate when each President has been so 
        honored, subject to paragraph (2)(E), and may not be resumed 
        except by an Act of Congress.
            ``(9) Reversion to preceding design.--Upon the termination 
        of the issuance of coins under this subsection, the design of 
        all $1 coins shall revert to the so-called `Sacagawea-design' $1 
        coins.''.

SEC. 103. FIRST SPOUSE BULLION COIN PROGRAM.

    Section 5112 of title 31, United States Code, as amended by section 
102, is amended by adding at the end the following:
    ``(o) First Spouse Bullion Coin Program.--
            ``(1) In general.--During the same period described in 
        subsection (n), the Secretary shall issue bullion coins under 
        this subsection that are emblematic of the spouse of each such 
        President.
            ``(2) Specifications.--The coins issued under this 
        subsection shall--
                    ``(A) have the same diameter as the $1 coins 
                described in subsection (n);
                    ``(B) weigh 0.5 ounce; and
                    ``(C) contain 99.99 percent pure gold.
            ``(3) Design requirements.--
                    ``(A) Coin obverse.--The design on the obverse of 
                each coin issued under this subsection shall contain--

[[Page 119 STAT. 2668]]

                          ``(i) the name and likeness of a person who 
                      was a spouse of a President during the President's 
                      period of service;
                          ``(ii) an inscription of the years during 
                      which such person was the spouse of a President 
                      during the President's period of service; and
                          ``(iii) a number indicating the order of the 
                      period of service in which such President served.
                    ``(B) Coin reverse.--The design on the reverse of 
                each coin issued under this subsection shall bear--
                          ``(i) images emblematic of the life and work 
                      of the First Spouse whose image is borne on the 
                      obverse; and
                          ``(ii) the inscription `United States of 
                      America'.
                    ``(C) Designated denomination.--Each coin issued 
                under this subsection shall bear, on the reverse, an 
                inscription of the nominal denomination of the coin 
                which shall be `$10'.
                    ``(D) Design in case of no first spouse.--In the 
                case of any President who served without a spouse--
                          ``(i) the image on the obverse of the bullion 
                      coin corresponding to the $1 coin relating to such 
                      President shall be an image emblematic of the 
                      concept of `Liberty'--
                                    ``(I) as represented on a United 
                                States coin issued during the period of 
                                service of such President; or
                                    ``(II) as represented, in the case 
                                of President Chester Alan Arthur, by a 
                                design incorporating the name and 
                                likeness of Alice Paul, a leading 
                                strategist in the suffrage movement, who 
                                was instrumental in gaining women the 
                                right to vote upon the adoption of the 
                                19th amendment and thus the ability to 
                                participate in the election of future 
                                Presidents, and who was born on January 
                                11, 1885, during the term of President 
                                Arthur; and
                          ``(ii) the reverse of such bullion coin shall 
                      be of a design representative of themes of such 
                      President, except that in the case of the bullion 
                      coin referred to in clause (i)(II) the reverse of 
                      such coin shall be representative of the suffrage 
                      movement.
                    ``(E) Design and coin for each spouse.--A separate 
                coin shall be designed and issued under this section for 
                each person who was the spouse of a President during any 
                portion of a term of office of such President.
                    ``(F) Inscriptions.--Each bullion coin issued under 
                this subsection shall bear the inscription of the year 
                of minting or issuance of the coin and such other 
                inscriptions as the Secretary may determine to be 
                appropriate.
            ``(4) Sale of bullion coins.--Each bullion coin issued under 
        this subsection shall be sold by the Secretary at a price that 
        is equal to or greater than the sum of--
                    ``(A) the face value of the coins; and
                    ``(B) the cost of designing and issuing the coins 
                (including labor, materials, dies, use of machinery, 
                overhead expenses, marketing, and shipping).

[[Page 119 STAT. 2669]]

            ``(5) Issuance of coins commemorating first spouses.--
                    ``(A) In general.--The bullion coins issued under 
                this subsection with respect to any spouse of a 
                President shall be issued on the same schedule as the $1 
                coin issued under subsection (n) with respect to each 
                such President.
                    ``(B) Maximum number of bullion coins for each 
                design.--The Secretary shall--
                          ``(i) prescribe, on the basis of such factors 
                      as the Secretary determines to be appropriate, the 
                      maximum number of bullion coins that shall be 
                      issued with each of the designs selected under 
                      this subsection; and
                          ``(ii) announce, before the issuance of the 
                      bullion coins of each such design, the maximum 
                      number of bullion coins of that design that will 
                      be issued.
                    ``(C) Termination of program.--No bullion coin may 
                be issued under this subsection after the termination, 
                in accordance with subsection (n)(8), of the $1 coin 
                program established under subsection (n).
            ``(6) Quality of coins.--The bullion coins minted under this 
        Act shall be issued in both proof and uncirculated qualities.
            ``(7) Source of gold bullion.--
                    ``(A) In general.--The Secretary shall acquire gold 
                for the coins issued under this subsection by purchase 
                of gold mined from natural deposits in the United 
                States, or in a territory or possession of the United 
                States, within 1 year after the month in which the ore 
                from which it is derived was mined.
                    ``(B) Price of gold.--The Secretary shall pay not 
                more than the average world price for the gold mined 
                under subparagraph (A).
            ``(8) Bronze medals.--The Secretary may strike and sell 
        bronze medals that bear the likeness of the bullion coins 
        authorized under this subsection, at a price, size, and weight, 
        and with such inscriptions, as the Secretary determines to be 
        appropriate.
            ``(9) Legal tender.--The coins minted under this title shall 
        be legal tender, as provided in section 5103.
            ``(10) Treatment as numismatic items.--For purposes of 
        section 5134 and 5136, all coins minted under this subsection 
        shall be considered to be numismatic items.''.

SEC. 104. REMOVAL OF BARRIERS TO CIRCULATION.

    Section 5112 of title 31, United States Code, as amended by sections 
102 and 103, by adding at the end the following:
    ``(p) Removal of Barriers to Circulation of $1 Coin.--
            ``(1) <<NOTE: Effective date.>> Acceptance by agencies and 
        instrumentalities.--Beginning January 1, 2006, all agencies and 
        instrumentalities of the United States, the United States Postal 
        Service, all nonappropriated fund instrumentalities established 
        under title 10, United States Code, all transit systems that 
        receive operational subsidies or any disbursement of funds from 
        the Federal Government, such as funds from the Federal Highway 
        Trust Fund, including the Mass Transit Account, and all entities 
        that operate any business, including vending machines, on any 
        premises owned by the United States or under the control of any 
        agency or instrumentality of the United States, including the 
        legislative and judicial branches of the Federal Government,

[[Page 119 STAT. 2670]]

        shall take such action as may be appropriate to ensure that by 
        the end of the 2-year period beginning on such date--
                    ``(A) any business operations conducted by any such 
                agency, instrumentality, system, or entity that involve 
                coins or currency will be fully capable of accepting and 
                dispensing $1 coins in connection with such operations; 
                and
                    ``(B) displays signs and notices denoting such 
                capability on the premises where coins or currency are 
                accepted or dispensed, including on each vending 
                machine.
            ``(2) Publicity.--The Director of the United States Mint, 
        shall work closely with consumer groups, media outlets, and 
        schools to ensure an adequate amount of news coverage, and other 
        means of increasing public awareness, of the inauguration of the 
        Presidential $1 Coin Program established in subsection (n) to 
        ensure that consumers know of the availability of the coin.
            ``(3) Coordination.--The Board of Governors of the Federal 
        Reserve System and the Secretary shall take steps to ensure that 
        an adequate supply of $1 coins is available for commerce and 
        collectors at such places and in such quantities as are 
        appropriate by--
                    ``(A) consulting, to accurately gauge demand for 
                coins and to anticipate and eliminate obstacles to the 
                easy and efficient distribution and circulation of $1 
                coins as well as all other circulating coins, from time 
                to time but no less frequently than annually, with a 
                coin users group, which may include--
                          ``(i) representatives of merchants who would 
                      benefit from the increased usage of $1 coins;
                          ``(ii) vending machine and other coin acceptor 
                      manufacturers;
                          ``(iii) vending machine owners and operators;
                          ``(iv) transit officials;
                          ``(v) municipal parking officials;
                          ``(vi) depository institutions;
                          ``(vii) coin and currency handlers;
                          ``(viii) armored-car operators;
                          ``(ix) car wash operators; and
                          ``(x) coin collectors and dealers;
                    ``(B) <<NOTE: Reports.>> submitting an annual report 
                to the Congress containing--
                          ``(i) an assessment of the remaining obstacles 
                      to the efficient and timely circulation of coins, 
                      particularly $1 coins;
                          ``(ii) an assessment of the extent to which 
                      the goals of subparagraph (C) are being met; and
                          ``(iii) such recommendations for legislative 
                      action the Board and the Secretary may determine 
                      to be appropriate;
                    ``(C) consulting with industry representatives to 
                encourage operators of vending machines and other 
                automated coin-accepting devices in the United States to 
                accept coins issued under the Presidential $1 Coin 
                Program established under subsection (n) and any coins 
                bearing any design in effect before the issuance of 
                coins required under subsection (n) (including the so-
                called `Sacagawea-design' $1

[[Page 119 STAT. 2671]]

                coins), and to include notices on the machines and 
                devices of such acceptability;
                    ``(D) ensuring that--
                          ``(i) during an introductory period, all 
                      institutions that want unmixed supplies of each 
                      newly-issued design of $1 coins minted under 
                      subsections (n) and (o) are able to obtain such 
                      unmixed supplies; and
                          ``(ii) circulating coins will be available for 
                      ordinary commerce in packaging of sizes and types 
                      appropriate for and useful to ordinary commerce, 
                      including rolled coins;
                    ``(E) working closely with any agency, 
                instrumentality, system, or entity referred to in 
                paragraph (1) to facilitate compliance with the 
                requirements of such paragraph; and
                    ``(F) identifying, analyzing, and overcoming 
                barriers to the robust circulation of $1 coins minted 
                under subsections (n) and (o), including the use of 
                demand prediction, improved methods of distribution and 
                circulation, and improved public education and awareness 
                campaigns.
            ``(4) Bullion dealers.--The Director of the United States 
        Mint shall take all steps necessary to ensure that a maximum 
        number of reputable, reliable, and responsible dealers are 
        qualified to offer for sale all bullion coins struck and issued 
        by the United States Mint.
            ``(5) <<NOTE: Notification.>> Review of co-circulation.--At 
        such time as the Secretary determines to be appropriate, and 
        after consultation with the Board of Governors of the Federal 
        Reserve System, the Secretary shall notify the Congress of its 
        assessment of issues related to the co-circulation of any 
        circulating $1 coin bearing any design, other than the so-called 
        `Sacagawea-design' $1 coin, in effect before the issuance of 
        coins required under subsection (n), including the effect of co-
        circulation on the acceptance and use of $1 coins, and make 
        recommendations to the Congress for improving the circulation of 
        $1 coins.''.

SEC. 105. SENSE OF THE CONGRESS.

    It is the sense of the Congress that--
            (1) the enactment of this Act will serve to increase the use 
        of $1 coins generally, which will increase the circulation of 
        the so-called ``Sacagawea-design'' $1 coins that have been and 
        will continue to be minted and issued;
            (2) 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;
            (3) the full circulation potential and cost-savings benefit 
        projections for the $1 coins are not likely to be achieved 
        unless the coins are delivered in ways useful to ordinary 
        commerce;
            (4) the coins issued in connection with this title should 
        not be introduced with an overly expensive taxpayer-funded 
        public relations campaign;
            (5) in order for the circulation of $1 coins to achieve 
        maximum potential--
                    (A) the coins should be as attractive as possible; 
                and
                    (B) the Director of the United States Mint should 
                take all reasonable steps to ensure that all $1 coins 
                minted

[[Page 119 STAT. 2672]]

                and issued remain tarnish-free for as long as possible 
                without incurring undue expense; and
            (6) if the Secretary of the Treasury determines to include 
        on any $1 coin minted under section 102 of this Act a mark 
        denoting the United States Mint facility at which the coin was 
        struck, such mark should be edge-incused.

                  TITLE II--BUFFALO GOLD BULLION COINS

SEC. 201. GOLD BULLION COINS.

    Section 5112 of title 31, United States Code, is amended--
            (1) in subsection (a), by adding at the end the following:
            ``(11) A $50 gold coin that is of an appropriate size and 
        thickness, as determined by the Secretary, weighs 1 ounce, and 
        contains 99.99 percent pure gold.''; and
            (2) by adding at the end, the following:

    ``(q) Gold Bullion Coins.--
            ``(1) <<NOTE: Deadline.>> In general.--Not later than 6 
        months after the date of enactment of the Presidential $1 Coin 
        Act of 2005, the Secretary shall commence striking and issuing 
        for sale such number of $50 gold bullion and proof coins as the 
        Secretary may determine to be appropriate, in such quantities, 
        as the Secretary, in the Secretary's discretion, may prescribe.
            ``(2) Initial design.--
                    ``(A) <<NOTE: James Earle Fraser.>> In general.--
                Except as provided under subparagraph (B), the obverse 
                and reverse of the gold bullion coins struck under this 
                subsection during the first year of issuance shall bear 
                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'.
                    ``(B) Variations.--The coins referred to in 
                subparagraph (A) shall--
                          ``(i) have inscriptions of the weight of the 
                      coin and the nominal denomination of the coin 
                      incused in that portion of the design on the 
                      reverse of the coin commonly known as the `grassy 
                      mound'; and
                          ``(ii) bear such other inscriptions as the 
                      Secretary determines to be appropriate.
            ``(3) Subsequent designs.--After the 1-year period described 
        to in paragraph (2), the Secretary may--
                    ``(A) after consulting with the Commission of Fine 
                Arts, and subject to the review of the Citizens Coinage 
                Advisory Committee, change the design on the obverse or 
                reverse of gold bullion coins struck under this 
                subsection; and
                    ``(B) change the maximum number of coins issued in 
                any year.
            ``(4) Source of gold bullion.--
                    ``(A) In general.--The Secretary shall acquire gold 
                for the coins issued under this subsection by purchase 
                of gold mined from natural deposits in the United 
                States, or in a territory or possession of the United 
                States, within 1 year after the month in which the ore 
                from which it is derived was mined.

[[Page 119 STAT. 2673]]

                    ``(B) Price of gold.--The Secretary shall pay not 
                more than the average world price for the gold mined 
                under subparagraph (A).
            ``(5) Sale of coins.--Each gold bullion coin issued under 
        this subsection shall be sold for an amount the Secretary 
        determines to be appropriate, but not less than the sum of--
                    ``(A) the market value of the bullion at the time of 
                sale; and
                    ``(B) the cost of designing and issuing the coins, 
                including labor, materials, dies, use of machinery, 
                overhead expenses, marketing, and shipping.
            ``(6) Legal tender.--The coins minted under this title shall 
        be legal tender, as provided in section 5103.
            ``(7) Treatment as numismatic items.--For purposes of 
        section 5134 and 5136, all coins minted under this subsection 
        shall be considered to be numismatic items.
            ``(8) Protective covering.--
                    ``(A) In general.--Each bullion coin having a 
                metallic content as described in subsection (a)(11) and 
                a design specified in paragraph (2) shall be sold in an 
                inexpensive covering that will protect the coin from 
                damage due to ordinary handling or storage.
                    ``(B) Design.--The protective covering required 
                under subparagraph (A) shall be readily distinguishable 
                from any coin packaging that may be used to protect 
                proof coins minted and issued under this subsection.''.

      TITLE III--ABRAHAM LINCOLN BICENTENNIAL 1-CENT COIN REDESIGN

SEC. 301. <<NOTE: 31 USC 5112 note.>> FINDINGS.

    Congress finds the following:
            (1) Abraham Lincoln, the 16th President, was one of the 
        Nation's greatest leaders, demonstrating true courage during the 
        Civil War, one of the greatest crises in the Nation's history.
            (2) Born of humble roots in Hardin County (present-day LaRue 
        County), Kentucky, on February 12, 1809, Abraham Lincoln rose to 
        the Presidency through a combination of honesty, integrity, 
        intelligence, and commitment to the United States.
            (3) With the belief that all men are created equal, Abraham 
        Lincoln led the effort to free all slaves in the United States.
            (4) Abraham Lincoln had a generous heart, with malice toward 
        none, and with charity for all.
            (5) Abraham Lincoln gave the ultimate sacrifice for the 
        country he loved, dying from an assassin's bullet on April 15, 
        1865.
            (6) All Americans could benefit from studying the life of 
        Abraham Lincoln, for Lincoln's life is a model for accomplishing 
        the ``American dream'' through honesty, integrity, loyalty, and 
        a lifetime of education.
            (7) The year 2009 will be the bicentennial anniversary of 
        the birth of Abraham Lincoln.
            (8) Abraham Lincoln was born in Kentucky, grew to adulthood 
        in Indiana, achieved fame in Illinois, and led the nation in 
        Washington, D.C.

[[Page 119 STAT. 2674]]

            (9) The so-called ``Lincoln cent'' was introduced in 1909 on 
        the 100th anniversary of Lincoln's birth, making the obverse 
        design the most enduring on the nation's coinage.
            (10) President Theodore Roosevelt was so impressed by the 
        talent of Victor David Brenner that the sculptor was chosen to 
        design the likeness of President Lincoln for the coin, adapting 
        a design from a plaque Brenner had prepared earlier.
            (11) In the nearly 100 years of production of the ``Lincoln 
        cent'', there have been only 2 designs on the reverse: the 
        original, featuring 2 wheat-heads in memorial style enclosing 
        mottoes, and the current representation of the Lincoln Memorial 
        in Washington, D.C.
            (12) On the occasion of the bicentennial of President 
        Lincoln's birth and the 100th anniversary of the production of 
        the Lincoln cent, it is entirely fitting to issue a series of 1-
        cent coins with designs on the reverse that are emblematic of 
        the 4 major periods of President Lincoln's life.

SEC. 302. <<NOTE: 31 USC 5112 note.>> REDESIGN OF LINCOLN CENT FOR 2009.

    (a) In General.--During the year 2009, the Secretary of the Treasury 
shall issue 1-cent coins in accordance with the following design 
specifications:
            (1) <<NOTE: Victor David Brenner.>> Obverse.--The obverse of 
        the 1-cent coin shall continue to bear the Victor David Brenner 
        likeness of President Abraham Lincoln.
            (2) Reverse.--The reverse of the coins shall bear 4 
        different designs each representing a different aspect of the 
        life of Abraham Lincoln, such as--
                    (A) his birth and early childhood in Kentucky;
                    (B) his formative years in Indiana;
                    (C) his professional life in Illinois; and
                    (D) his presidency, in Washington, D.C.

    (b) Issuance of Redesigned Lincoln Cents in 2009.--
            (1) Order.--The 1-cent coins to which this section applies 
        shall be issued with 1 of the 4 designs referred to in 
        subsection (a)(2) beginning at the start of each calendar 
        quarter of 2009.
            (2) Number.--The Secretary shall prescribe, on the basis of 
        such factors as the Secretary determines to be appropriate, the 
        number of 1-cent coins that shall be issued with each of the 
        designs selected for each calendar quarter of 2009.

    (c) Design Selection.--The designs for the coins specified in this 
section shall be chosen by the Secretary--
            (1) after consultation with the Abraham Lincoln Bicentennial 
        Commission and the Commission of Fine Arts; and
            (2) after review by the Citizens Coinage Advisory Committee.

SEC. 303. <<NOTE: 31 USC 5112 note.>> REDESIGN OF REVERSE OF 1-CENT 
            COINS AFTER 2009.

    The design on the reverse of the 1-cent coins issued after December 
31, 2009, shall bear an image emblematic of President Lincoln's 
preservation of the United States of America as a single and united 
country.

SEC. 304. <<NOTE: 31 USC 5112 note.>> NUMISMATIC PENNIES WITH THE SAME 
            METALLIC CONTENT AS THE 1909 PENNY.

    The Secretary of the Treasury shall issue 1-cent coins in 2009 with 
the exact metallic content as the 1-cent coin contained in

[[Page 119 STAT. 2675]]

1909 in such number as the Secretary determines to be appropriate for 
numismatic purposes.

SEC. 305. <<NOTE: 31 USC 5112 note.>> SENSE OF THE CONGRESS.

    It is the sense of the 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.

    Approved December 22, 2005.

LEGISLATIVE HISTORY--S. 1047 (H.R. 902):
---------------------------------------------------------------------------

HOUSE REPORTS: No. 109-39 accompanying H.R. 902 (Comm. on Financial 
Services).
CONGRESSIONAL RECORD, Vol. 151 (2005):
            Nov. 18, considered and passed Senate.
            Dec. 13, considered and passed House.

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