Summary: H.R.1123 — 99th Congress (1985-1986)All Information (Except Text)

There is one summary for H.R.1123. Bill summaries are authored by CRS.

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Introduced in House (02/19/1985)

Liberty Double-Eagle Bullion Coin Act - Requires the Secretary of the Treasury to mint and issue gold double-eagle coins. Sets forth specifications for and the design of such coins. Makes such coins legal tender.

Permits the sale of such coins at a price equal to the cost of minting and issuing such coins plus a surcharge equal to the amount by which the fair market value of gold bullion held by the United States and used in the minting of the coins exceeds the statutory maximum value of any gold certificates outstanding against the bullion. Requires the revenue from such surcharges to be used to reduce the national debt.

Authorizes appropriations.