[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 50 Introduced in Senate (IS)]

103d CONGRESS
  1st Session
                                 S. 50

To require the Secretary of the Treasury to mint coins in commemoration 
       of the 250th anniversary of the birth of Thomas Jefferson.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

             January 21 (legislative day, January 5), 1993

    Mr. Warner (for himself, Mr. Robb, Mr. Gramm, and Mr. Danforth) 
introduced the following bill; which was read twice and referred to the 
            Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to mint coins in commemoration 
       of the 250th anniversary of the birth of Thomas Jefferson.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Jefferson Commemorative Coin Act of 
1993''.

SEC. 2. COIN SPECIFICATIONS.

    (a) One-Dollar Silver Coins.--
            (1) Issuance.--The Secretary of the Treasury (hereafter in 
        this Act referred to as the ``Secretary'') shall issue not more 
        than 600,000 one-dollar coins, which shall weigh 26.73 grams, 
        have a diameter of 1.500 inches, and contain 90 percent silver 
        and 10 percent copper.
            (2) Design.--The design of the coins issued under this Act 
        shall be emblematic of a Jefferson profile and frontal view of 
        his home Monticello. On each coin there shall be a designation 
        of the value of the coin, an inscription of the year ``1993'', 
        and inscriptions of the words ``Liberty'', ``In God We Trust'', 
        ``United States of America'', and ``E Pluribus Unum''.
    (b) Legal Tender.--The coins issued under this Act shall be legal 
tender, as provided in section 5103 of title 31, United States Code.

SEC. 3. SOURCES OF BULLION.

    The Secretary shall obtain silver for the coins minted under this 
Act only from stockpiles established under the Strategic and Critical 
Minerals Stock Piling Act (50 U.S.C. 98 et seq.).

SEC. 4. SELECTION OF DESIGN.

    Subject to section 2(a)(2), the design for the coins authorized by 
this Act shall be selected by the Secretary after consultation with the 
Executive Director of the Thomas Jefferson Memorial Foundation and the 
Commission of Fine Arts. As required by section 5135 of title 31, 
United States Code, the design shall also be reviewed by the Citizens 
Commemorative Advisory Committee.

SEC. 5. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--Only 1 facility of the United States Mint may 
be used to strike any particular quality of the coins minted under this 
Act.
    (c) Period for Issuance.--The Secretary may issue coins minted 
under this Act during the period beginning on July 4, 1993, and ending 
on July 4, 1994.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins authorized under this Act shall be sold 
by the Secretary at a price equal to the sum of the face value of the 
coins, the surcharge provided in subsection (c) with respect to such 
coins, and the cost of designing and issuing the coins (including 
labor, materials, dies, use of machinery, overhead expenses, marketing, 
and shipping).
    (b) Prepaid Orders.--The Secretary shall accept prepaid orders for 
the coins authorized under this Act prior to the issuance of such 
coins. Sale prices with respect to such prepaid orders shall be at a 
reasonable discount.
    (c) Surcharges.--All sales shall include a surcharge of $10 per 
coin.

SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.

    No provision of law governing procurement or public contracts shall 
be applicable to the procurement of goods or services necessary for 
carrying out the provisions of this Act. Nothing in this section shall 
relieve any person entering into a contract under the authority of this 
Act from complying with any law relating to equal employment 
opportunity.

SEC. 8. DISTRIBUTION OF SURCHARGES.

    All surcharges received by the Secretary from the sale of coins 
issued under this Act shall be promptly paid by the Secretary--
            (1) in the case of surcharges received in connection with 
        the sale of the first 500,000 coins issued, to the Jefferson 
        Endowment Fund, to be used--
                    (A) to establish and maintain an endowment to be a 
                permanent source of support for Monticello and its 
                historic furnishings; and
                    (B) for the Jefferson Endowment Fund's educational 
                programs, including the International Center for 
                Jefferson Studies; and
            (2) in the case of surcharges received in connection with 
        the sale of all other such coins, to the Corporation for 
        Jefferson's Poplar Forest, to be used for the restoration and 
        maintenance of Poplar Forest.

SEC. 9. AUDITS.

    The Comptroller General of the United States shall have the right 
to examine such books, records, documents, and other data of the 
entities specified in section 8, as may be related to the expenditures 
of amounts paid under section 8.

SEC. 10. NUMISMATIC PUBLIC ENTERPRISE FUND.

    The coins issued under this Act are subject to the provisions of 
section 5134 of title 31, United States Code, the Numismatic Public 
Enterprise Fund.

SEC. 11. FINANCIAL ASSURANCES.

    It is the sense of the Congress that this coin program shall be 
self-sustaining, and should be administered to result in no net cost to 
the Numismatic Public Enterprise Fund.

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