[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2414 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 2414

  To provide for a 10-year circulating commemorative coin program to 
       commemorate each of the 50 States, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 5, 1997

  Mr. Castle introduced the following bill; which was referred to the 
              Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
  To provide for a 10-year circulating commemorative coin program to 
       commemorate each of the 50 States, and for other purposes.

    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 ``50 States Commemorative Coin Program 
Act''.

SEC. 2. FINDINGS.

    The Congress hereby finds the following:
            (1) It is appropriate and timely to--
                    (A) honor the unique Federal republic of 50 States 
                that comprise the United States; and
                    (B) promote the diffusion of knowledge among the 
                youth of the United States about the individual States, 
                their history and geography, and the rich diversity of 
                the national heritage.
            (2) The circulating coinage of the United States has not 
        been modernized within the past 25 years.
            (3) A circulating commemorative 25-cent coin program could 
        produce earnings of $110,000,000 over the 10-year period of 
        issuance and would produce indirect earnings of an estimated 
        $2,600,000,000 to $5,100,000,000 to the United States Treasury, 
        money that will replace borrowing to fund the national debt to 
        at least that extent.
            (4) It is appropriate to launch a commemorative circulating 
        coin program that encourages young people and their families to 
        collect memorable tokens of all the States for the face value 
        of the coins.

SEC. 3. ISSUANCE OF REDESIGNED QUARTER DOLLARS OVER 10-YEAR PERIOD 
              COMMEMORATING EACH OF THE 50 STATES.

    Section 5112 of title 31, United States Code, is amended by adding 
at the end the following new subsection:
    ``(k) Redesign and Issuance of Quarter Dollar in Commemoration of 
Each of the 50 States.--
            ``(1) In general.--Notwithstanding the 4th sentence of 
        subsection (d)(1) and subsection (d)(2), quarter dollar coins 
        issued during the 10-year period beginning on January 1, 1999, 
        shall have designs on the reverse side selected in accordance 
        with this subsection which are emblematic of the 50 States.
            ``(2) Single state designs.--The design on the reverse side 
        of each quarter dollar issued during the 10-year period 
        referred to in paragraph (1) shall be emblematic of 1 of the 50 
        States.
            ``(3) Issuance of coins commemorating 5 states during each 
        of the 10 years.--
                    ``(A) In general.--The designs for the quarter 
                dollar coins issued during each year of the 10-year 
                period referred to in paragraph (1) shall be emblematic 
                of 5 States selected in the order in which such States 
                ratified the Constitution of the United States or were 
                admitted into the Union, as the case may be.
                    ``(B) Number of each of 5 coin designs in each 
                year.--Of the quarter dollar coins issued during each 
                year (of the 10-year period referred to in paragraph 
                (1)), the Secretary of the Treasury shall prescribe, on 
                the basis of such factors as the Secretary determines 
                to be appropriate, the number of quarter dollars which 
                shall be issued with each of the 5 designs selected for 
                such year.
            ``(4) Selection of design.--
                    ``(A) In general.--Each of the 50 designs required 
                under this subsection for quarter dollars shall be--
                            ``(i) selected by the Secretary after 
                        consultation with--
                                    ``(I) the Governor of the State 
                                being commemorated, or such other State 
                                officials or group as the State may 
                                designate for such purpose; and
                                    ``(II) the Commission of Fine Arts; 
                                and
                            ``(ii) reviewed by the Citizens 
                        Commemorative Coin Advisory Committee.
                    ``(B) State proposals.--Subject to the standards 
                established under subparagraph (C), each State may 
                develop proposals for the design for the quarter dollar 
                commemorating such State in any manner the State 
                determines to be appropriate and any such proposal 
                shall form a basis for the design selected by the 
Secretary in accordance with this paragraph.
                    ``(C) Standards.--Because it is important that the 
                Nation's coinage and currency bear dignified designs of 
                which the citizens of the United States can be proud, 
                the Secretary shall not select any frivolous or 
                inappropriate design for any quarter dollar minted 
                under this subsection.
            ``(5) Treatment as numismatic items.--For purposes of 
        sections 5134 and 5136, all coins minted under this subsection 
        shall be considered to be numismatic items.
            ``(6) Numismatic items.--
                    ``(A) Quality of coins.--The Secretary may mint and 
                issue such number of quarter dollars of each design 
                selected under paragraph (4) in uncirculated and proof 
                qualities as the Secretary determines to be 
                appropriate.
                    ``(B) Silver coins.--Notwithstanding subsection 
                (b), the Secretary may mint and issue such number of 
                quarter dollars of each design selected under paragraph 
                (4) as the Secretary determines to be appropriate with 
                a content of 90 percent silver and 10 percent copper.
                    ``(C) Sources of bullion.--The Secretary shall 
                obtain silver for minting coins under subparagraph (B) 
                only from stockpiles established under the Strategic 
                and Critical Materials Stock Piling Act.
                    ``(D) Sale price of coins.--The coins issued under 
                this paragraph shall be sold by the Secretary at a 
                price equal to the sum of the face value of the coins 
                and the cost of designing and issuing the coins 
                (including labor, materials, dies, use of machinery, 
                overhead expenses, marketing, profit, and shipping).
            ``(7) Application in event of the admission of additional 
        states.--If any additional State is admitted into the Union 
        before the end of the 10-year period referred to in paragraph 
        (1), the Secretary of the Treasury may issue quarter dollar 
        coins, in accordance with this subsection, with a design which 
        is emblematic of such State during any 1 year of such 10-year 
        period, in addition to the quarter dollar coins issued during 
        such year in accordance with paragraph (3)(A).''.
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