S.2598 - A bill to provide for the disposal of silver from the National Defense Stockpile through the issuance of silver coins.97th Congress (1981-1982)
|Sponsor:||Sen. McClure, James A. [R-ID] (Introduced 05/27/1982)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 07/02/1982 Committee on Banking requested executive comment from Treasury Department; GSA. (All Actions)|
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Summary: S.2598 — 97th Congress (1981-1982)All Information (Except Text)
Introduced in Senate (05/27/1982)
Directs the Secretary of the Treasury to mint and issue coins of the United States in two specified series in quantities necessary to meet public demand.
Directs the Secretary to sell such coins directly to the public and to numismatic coin dealers and retailers for resale to the public at not less than the fair market value of their silver content on the day before the sale, plus the costs of minting, distributing, promoting, and marketing the coins.
Requires deposit of the net proceeds of such sales in the National Defense Stockpile Transaction Fund after the deduction of costs incurred by the Secretary.
Limits the aggregate amount of silver in the National Defense Stockpile which may be used to mint the two specified coin series.
Declares that disposals of silver from the National Defense Stockpile shall be conducted during calendar years 1983, 1984 and 1985.