[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1279 Introduced in House (IH)]
107th CONGRESS
1st Session
H. R. 1279
To reestablish the annual assay commission.
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IN THE HOUSE OF REPRESENTATIVES
March 28, 2001
Mr. Rothman introduced the following bill; which was referred to the
Committee on Financial Services
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A BILL
To reestablish the annual assay commission.
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 ``Annual Assay Commission Act''.
SEC. 2. FINDINGS.
The Congress finds as follows:
(1) It is in the national interest for the citizens of the
Nation, and those who purchase products of the United States
Mint, to know that gold, silver, and platinum coinage produced
by the several United States mints are of the proper size,
weight, and purity provided for by law.
(2) From 1792 until 1977, an annual assay commission, as
first required by the Act entitled ``An Act establishing a
Mint, and regulating the Coins of the United States'' and
approved April 2, 1792, performed such functions, until such
time as there were no precious metal coins regularly being
produced by the United States mints.
(3) Since 1977, the United States Mint has begun regular
production of bullion coinage comprised of .999 fine silver,
.9995 fine platinum, and gold of either .900 or .999 fine.
(4) Since 1982, the United States Mint has produced
millions of gold and silver commemorative coins that have sold
to collectors and others on the primary market for more than
$1,000,000,000.
(5) It is desirable to involve numismatists, and others, in
the process of marketing and merchandising of coins, of which
an annual assay is an important component part.
(6) There is a marketing need for an annual ceremony to
attest that the coins produced by the several United States
mints are manufactured in conformity with their statutory
requirements, to publicize the same, and to involve the general
and numismatic public in the annual assay and its report.
SEC. 3. ANNUAL ASSAY REQUIRED.
(a) In General.--To secure conformity in the composition and weight
of the minor coinage of the United States, subsidiary denominations,
dollar coins, and coins struck in silver, gold, platinum and other
precious metals, an annual assay shall be held in the manner provided
in subsection (b)(4) to test and examine, in the presence of the
Director of the Mint, the fineness and weight of the coins reserved by
the several mints for this purpose.
(b) Assay Commission.--
(1) Membership and appointment.--
(A) In general.--The annual assay required under
subsection (a) shall be conducted by an assay
commission consisting of such number of members as the
President may determine to be appropriate, not to
exceed 25, who shall be appointed by the President.
(B) Representation of numismatists.--At least \1/2\
of the members of the assay commission shall be
appointed from among individuals who are, by reason of
education, training, or experience, amateur or
professional numismatists.
(2) Terms.--Members of the assay commission shall--
(A) be appointed each year by the President to
serve for that year only; and
(B) not be eligible for re-appointment until a
period of not less than 5 years has passed since their
most recent appointment expired.
(3) Service without compensation.--Members of the assay
commission shall serve without pay, except that such members
shall be entitled to receive, in accordance with section 5703
of title 5, United States Code, travel or transportation
expenses, or a per diem allowance in lieu of expenses, while
away from such member's home or place of business in connection
with such member's service on the assay commission.
(4) Meetings of assay commission.--
(A) In general.--The assay commission shall meet on
the second Wednesday in February of each year, to carry
out the duties of the commission under this section.
(B) Location.--The meeting of the assay commission
shall be convened at any United States mint, or at the
United States Mint in Washington, D.C., as determined
by the Director of the Mint.
(C) Continuation following adjournment.--The
meeting of the assay commission may continue following
adjournment if necessary.
(D) Other meetings.--If a majority of the members
of the assay commission fail to attend any meeting
scheduled pursuant to subparagraph (A), the Director of
the Mint shall call a meeting of the commissioners at
such other time as the Director determines to be
convenient.
(5) Expenses of assay commission.--The expenses of the
assay commission which the Secretary determines are reasonable
and appropriate shall be paid by the Secretary from the United
States Mint Public Enterprise Fund under section 5136 of title
31, United States Code.
(c) Selection and Transfer of Coins.--
(1) In general.--In accordance with regulations prescribed
by the Secretary of the Treasury, each superintendent of a
United States mint shall select and transfer, without
examination and discrimination, specimens of coins in the
manner described in paragraphs (2) and (3) for assay at trial
to the Office of the Director of the Mint in Washington, D.C.
(2) Certain circulating coins.--For each issue of
circulating coins, other than 1-cent and 5-cent coins, by any
United States mint, specimen coins for special assay and
testing shall be taken at random as follows:
(A) In the case of dollar coins, half dollar coins,
and quarter dollar coins, not less than 2 coins for
each 200,000 pieces or fraction thereof issued.
(B) In the case of dime coins, not less than 2
coins for each 400,000 pieces or fraction thereof
issued.
(3) Other coins.--For each issue of coins not described in
subparagraph (A) by any United States mint, including bullion
coins and special numismatic coins, specimen coins for the
examination and testing shall be taken at random in such
quantities as the Secretary of the Treasury shall direct, but
not less than 10 coins of each quality of coin struck at each
facility of the United States Mint producing such coins.
(4) Manner of selection and transfer.--The selection of
specimen coins under this subsection shall be made by a
superintendent of a United States mint under this section, or
by a representative designated by such superintendent, in the
presence of the assayer or person who performs such assay
function, or by a representative designated by the assayer or
other person, without testing and the coins so selected
selection shall be protected from attrition and enclosed in
envelopes which shall be sealed and labeled to show the place
of coinage, the date, number, and amount of delivery, and the
number and denomination of the pieces enclosed.
(d) Procedure Following Examination and Testing.--
(1) Standardized fineness and weight.--If it appears to the
assay commission, after examination and testing, that the coins
presented to the assay commission coins do not differ from the
standard fineness and weight by a greater quantity than is
permitted by such regulations as the Secretary of the Treasury
may from time to time prescribe, the trial by the assay
commission shall be considered and reported as satisfactory.
(2) Deviation.--If, after the examination and testing
referred to in paragraph (1), it appears to the assay
commission that any coin differs from the standard fineness and
weight by a greater quantity than is permitted by the
regulations referred to in such paragraph, this fact shall be
certified to the Director of the Mint and the Secretary of the
Treasury, and the Secretary shall take such action as is
appropriate to rectify the cause.
(e) Laboratory Tests of Additional Specimen Coins.--In addition to
the specimen coins selected under other provisions of this subsection,
specimen coins, as either proof or uncirculated pieces, may be
forwarded promptly to the Director of the Mint for laboratory testing
as to their conformity in composition and weight with the requirements
of law.
(f) Annual Report.--
(1) Report required.--The Director of the Mint shall
prepare and publish an annual report containing the report of
the assay commission for such year and the results of
laboratory tests conducted pursuant to subsection (e).
(2) Submission to the congress.--Each report prepared
pursuant to paragraph (1) shall be submitted to the Congress.
SEC. 4. PRODUCTION OF ASSAY COMMISSION MEDALS.
The Director of the Mint may continue the practice of producing
assay commission medals for the members of the assay commission, if
bronze copies of such medals are made available for sale to the general
public.
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