1.This Act may be cited as the
Presidential $1 Coin Act of
2005
.
<enum>I</enum><header>Presidential $1
Coins</header>
<section id="HE1A8E2397C174777B5CFAB7CCBFDC61"><enum>101.</enum><header>Findings</header><text display-inline="no-display-inline">Congress finds the following:</text>
<paragraph id="HFDA56F5ED07240BEA7C96E18BCF676C"><enum>(1)</enum><text>There are sectors
of the United States economy, including public transportation, parking meters,
vending machines, and low-dollar value transactions, in which the use of a $1
coin is both useful and desirable for keeping costs and prices down.</text>
</paragraph><paragraph id="HC82BD8148B3A4AE88F19D73D9B662469"><enum>(2)</enum><text>For a variety of
reasons, the new $1 coin introduced in 2000 has not been widely sought-after by
the public, leading to higher costs for merchants and thus higher prices for
consumers.</text>
</paragraph><paragraph id="HFE5449D8C85F4FADAED3F806FCA6755"><enum>(3)</enum><text display-inline="yes-display-inline">The success of the 50 States Commemorative
Coin Program (31 U.S.C. 5112(l)) for circulating quarter dollars shows that a
design on a United States circulating coin that is regularly changed in a
manner similar to the systematic change in designs in such Program radically
increases demand for the coin, rapidly pulling it through the economy.</text>
</paragraph><paragraph id="H8279AF5D9BA74B5A817114FDFDBE1918"><enum>(4)</enum><text>The 50 States
Commemorative Coin Program also has been an educational tool, teaching both
Americans and visitors something about each State for which a quarter has been
issued.</text>
</paragraph><paragraph id="HD3A91CEC8BD1470AA9CE7D46534C934F"><enum>(5)</enum><text>A
national survey and study by the Government Accountability Office has indicated
that many Americans who do not seek, or who reject, the new $1 coin for use in
commerce would actively seek the coin if an attractive, educational rotating
design were to be struck on the coin.</text>
</paragraph><paragraph id="H23219E74F6CE444E929DF0492DE0271B"><enum>(6)</enum><text>The President is
the leader of our tripartite government and the President’s spouse has often
set the social tone for the White House while spearheading and highlighting
important issues for the country.</text>
</paragraph><paragraph display-inline="no-display-inline" id="H2734AC32F4AA44C9929D7CF2860672F3"><enum>(7)</enum><text>Sacagawea, as
currently represented on the new $1 coin, is an important symbol of American
history.</text>
</paragraph><paragraph id="H5B4A7D74E9B24487A2845393CBDAA0C"><enum>(8)</enum><text>Many people cannot
name all of the Presidents, and fewer can name the spouses, nor can many people
accurately place each President in the proper time period of American
history.</text>
</paragraph><paragraph id="H062035E6ED7449FBB8D890D42300E35D"><enum>(9)</enum><text>First Spouses have
not generally been recognized on American coinage.</text>
</paragraph><paragraph id="H486ADE8B6A7448359BAEC56510EA70B6"><enum>(10)</enum><text>In order to
revitalize the design of United States coinage and return circulating coinage
to its position as not only a necessary means of exchange in commerce, but also
as an object of aesthetic beauty in its own right, it is appropriate to move
many of the mottos and emblems, the inscription of the year, and the so-called
<quote>mint marks</quote> that currently appear on the 2 faces of each
circulating coin to the edge of the coin, which would allow larger and more
dramatic artwork on the coins reminiscent of the so-called <quote>Golden Age of
Coinage</quote> in the United States, at the beginning of the Twentieth
Century, initiated by President Theodore Roosevelt, with the assistance of
noted sculptors and medallic artists James Earle Fraser and Augustus
Saint-Gaudens.</text>
</paragraph><paragraph id="H0A4284F53E9C402C8F10CB8FA5ED4F27"><enum>(11)</enum><text>Placing
inscriptions on the edge of coins, known as edge-incusing, is a hallmark of
modern coinage and is common in large-volume production of coinage elsewhere in
the world, such as the 2,700,000,000 2-Euro coins in circulation, but it has
not been done on a large scale in United States coinage in recent years.</text>
</paragraph><paragraph display-inline="no-display-inline" id="H50B20C5AF1504C4E91BD1054C2CEFF71"><enum>(12)</enum><text>Although the
Congress has authorized the Secretary of the Treasury to issue gold coins with
a purity of 99.99 percent, the Secretary has not done so.</text>
</paragraph><paragraph id="H78FA7FBCF1FE48F4BACC9145A546FC98"><enum>(13)</enum><text>Bullion coins are
a valuable tool for the investor and, in some cases, an important aspect of
coin collecting.</text>
</paragraph></section><section id="HE893C5497A8A467E8040E3F415875D00"><enum>102.</enum><header>Presidential $1
Coin Program</header><text display-inline="no-display-inline">Section 5112 of
title 31, United States Code, is amended by adding at the end the
following:</text>
<quoted-block id="H5190F88975FE47DA8B1DD70376A7FFEE">
<subsection id="H1F8EA96C637649D9ACBF25AF01E8DC39"><enum>(n)</enum><header>Redesign and
issuance of circulating $1 coins honoring each of the Presidents of the United
States</header>
<paragraph id="HB9FD833B0479463CB4061517A1D6C135"><enum>(1)</enum><header>Redesign
beginning in 2007</header>
<subparagraph id="H0839DFD8ACE64BE5A7206491A96E9805"><enum>(A)</enum><header>In
general</header><text>Notwithstanding subsection (d) and in accordance with the
provisions of this subsection, $1 coins issued during the period beginning
January 1, 2007, and ending upon the termination of the program under paragraph
(8), shall—</text>
<clause id="id431A3D75093B4426AD219CD82A1FADA6"><enum>(i)</enum><text>have designs on
the obverse selected in accordance with paragraph (2)(B) which are emblematic
of the Presidents of the United States; and</text>
</clause><clause id="id393B73AD600C4028827D711978711451"><enum>(ii)</enum><text>have a design on
the reverse selected in accordance with paragraph (2)(A).</text>
</clause></subparagraph><subparagraph id="H68878B79D287454FB0DABA4EC993C13C"><enum>(B)</enum><header>Continuity
provision</header><text display-inline="yes-display-inline">Notwithstanding
subparagraph (A), the Secretary shall continue to mint and issue $1 coins which
bear any design in effect before the issuance of coins as required under this
subsection (including the so-called <quote>Sacagawea-design</quote> $1
coins).</text>
</subparagraph></paragraph><paragraph id="HA6620BD5D9294D9D9B48AF6BA6CC9EF"><enum>(2)</enum><header>Design
requirements</header><text>The $1 coins issued in accordance with paragraph
(1)(A) shall meet the following design requirements:</text>
<subparagraph id="H6FC84869FEDD4C91B437673476BB0000"><enum>(A)</enum><header>Coin
reverse</header><text>The design on the reverse shall bear—</text>
<clause id="H9347E5A776444B30A986D374B0D88013"><enum>(i)</enum><text>a
likeness of the Statue of Liberty extending to the rim of the coin and large
enough to provide a dramatic representation of Liberty while not being large
enough to create the impression of a <quote>2-headed</quote> coin;</text>
</clause><clause id="H74E625F08D7A4CAABBDE6EC1140030AA"><enum>(ii)</enum><text>the inscription
<quote>$1</quote> ; and</text>
</clause><clause id="H94C15C494C6E4EB99634019862A77349"><enum>(iii)</enum><text>the inscription
<quote>United States of America</quote>.</text>
</clause></subparagraph><subparagraph id="H4C0374940CE649A69FF598238F004982"><enum>(B)</enum><header>Coin
obverse</header><text>The design on the obverse shall contain—</text>
<clause id="id8AD95FC831694D268CDF7CCF7BAF11F8"><enum>(i)</enum><text>the name and
likeness of a President of the United States; and</text>
</clause><clause id="id417BE51224454EFDAA1E4290A47100F8"><enum>(ii)</enum><text>basic
information about the President, including—</text>
<subclause id="id2FFE2369F1FF46BB91B51545B2A81DEF"><enum>(I)</enum><text>the dates or
years of the term of office of such President; and</text>
</subclause><subclause id="id413CB101F2F342EB871D7F7D6BF75285"><enum>(II)</enum><text>a number
indicating the order of the period of service in which the President
served.</text>
</subclause></clause></subparagraph><subparagraph id="H8753EF31624240E395A64831C5504379"><enum>(C)</enum><header>Edge-incused
inscriptions</header>
<clause id="HC91A055FD8894106A8461809D8AA798C"><enum>(i)</enum><header>In
general</header><text>The inscription of the year of minting or issuance of the
coin and the inscriptions <quote>E Pluribus Unum</quote> and <quote>In God We
Trust</quote> shall be edge-incused into the coin.</text>
</clause><clause id="H7CFAA57D58484E3E86326F782D809758"><enum>(ii)</enum><header>Preservation of
distinctive edge</header><text display-inline="yes-display-inline">The
edge-incusing of the inscriptions under clause (i) on coins issued under this
subsection shall be done in a manner that preserves the distinctive edge of the
coin so that the denomination of the coin is readily discernible, including by
individuals who are blind or visually impaired.</text>
</clause></subparagraph><subparagraph id="HB0D7F29CEBF24CF98C752C89A7D77C01"><enum>(D)</enum><header>Inscriptions of
<quote>liberty</quote></header><text>Notwithstanding the second sentence of
subsection (d)(1), because the use of a design bearing the likeness of the
Statue of Liberty on the reverse of the coins issued under this subsection
adequately conveys the concept of Liberty, the inscription of
<quote>Liberty</quote> shall not appear on the coins.</text>
</subparagraph><subparagraph id="H34AE9AC0A20246D2006034BA93482EF4"><enum>(E)</enum><header>Limitation in
series to deceased presidents</header><text display-inline="yes-display-inline">No coin issued under this subsection may
bear the image of a living former or current President, or of any deceased
former President during the 2-year period following the date of the death of
that President.</text>
</subparagraph></paragraph><paragraph id="H43A00E9A2D8F4291B8992E5B87E2DBD4"><enum>(3)</enum><header>Issuance of
coins commemorating Presidents</header>
<subparagraph id="H6566A6A9F469412AACFB0004EFEE2400"><enum>(A)</enum><header>Order of
issuance</header><text>The coins issued under this subsection commemorating
Presidents of the United States shall be issued in the order of the period of
service of each President, beginning with President George Washington.</text>
</subparagraph><subparagraph id="H6398FCD208CE426BA58BB1C3E1ED68B6"><enum>(B)</enum><header>Treatment of
period of service</header>
<clause id="H083BF6E6AF9949A08D3D04FD4FA58CFE"><enum>(i)</enum><header>In
general</header><text>Subject to clause (ii), only 1 coin design shall be
issued for a period of service for any President, no matter how many
consecutive terms of office the President served.</text>
</clause><clause id="H8FD199769EFD45EE8E4FE3274BF3316C"><enum>(ii)</enum><header>Nonconsecutive
terms</header><text>If a President has served during 2 or more nonconsecutive
periods of service, a coin shall be issued under this subsection for each such
nonconsecutive period of service.</text>
</clause></subparagraph></paragraph><paragraph id="HA5E5B0AE35AE4B03A7770018A50059E7"><enum>(4)</enum><header>Issuance of
coins commemorating 4 Presidents during each year of the period</header>
<subparagraph id="H985DA61884B44B6A8C15FA0077475DF0"><enum>(A)</enum><header>In
general</header><text>The designs for the $1 coins issued during each year of
the period referred to in paragraph (1) shall be emblematic of 4 Presidents
until each President has been so honored, subject to paragraph (2)(E).</text>
</subparagraph><subparagraph id="H496BF6B82AC947E1AFAF265D86E26BAC"><enum>(B)</enum><header>Number of 4
circulating coin designs in each year</header><text>The Secretary shall
prescribe, on the basis of such factors as the Secretary determines to be
appropriate, the number of $1 coins that shall be issued with each of the
designs selected for each year of the period referred to in paragraph
(1).</text>
</subparagraph></paragraph><paragraph id="idB0CBA399143149CA9EC1DD5BE04EF610"><enum>(5)</enum><header>Legal
tender</header><text>The coins minted under this title shall be legal tender,
as provided in section 5103.</text>
</paragraph><paragraph id="id0AF768FD258B40939A4DBB30967BEE21"><enum>(6)</enum><header>Treatment as
numismatic items</header><text>For purposes of section 5134 and 5136, all coins
minted under this subsection shall be considered to be numismatic items.</text>
</paragraph><paragraph id="id34D8DF30EF2E41408956FA00A80E1E3D"><enum>(7)</enum><header>Issuance of
numismatic coins</header><text>The Secretary may mint and issue such number of
$1 coins of each design selected under this subsection in uncirculated and
proof qualities as the Secretary determines to be appropriate.</text>
</paragraph><paragraph id="H68E2FA3EE32749E89D2B2CA931D98A3"><enum>(8)</enum><header>Termination of
program</header><text display-inline="yes-display-inline">The issuance of coins
under this subsection shall terminate when each President has been so honored,
subject to paragraph (2)(E), and may not be resumed except by an Act of
Congress.</text>
</paragraph><paragraph id="H6181FF9D458F4EB2809E3164FC822C00"><enum>(9)</enum><header>Reversion to
preceding design</header><text display-inline="yes-display-inline">Upon the
termination of the issuance of coins under this subsection, the design of all
$1 coins shall revert to the so-called <quote>Sacagawea-design</quote> $1
coins.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section id="H6275BFAB49374EBEA8A558648911264D"><enum>103.</enum><header>First spouse
bullion coin program</header><text display-inline="no-display-inline">Section
5112 of title 31, United States Code, as amended by section 102, is amended by
adding at the end the following:</text>
<quoted-block id="HF7F13686CA3D44C2A21476563B5445DB">
<subsection id="HDD4531A932F54D3EA3C50741416DF3C2"><enum>(o)</enum><header>First spouse
bullion coin program</header>
<paragraph id="HCDBE3C3736CA4321B0CE3090CF9100F0"><enum>(1)</enum><header>In
general</header><text>During the same period described in subsection (n), the
Secretary shall issue bullion coins under this subsection that are emblematic
of the spouse of each such President.</text>
</paragraph><paragraph id="H9081BF2D1F94498295FF435315B5AF2D"><enum>(2)</enum><header>Specifications</header><text>The
coins issued under this subsection shall—</text>
<subparagraph id="HB3F07E2DCF6D4225AFCC1383C754265D"><enum>(A)</enum><text>have the same
diameter as the $1 coins described in subsection (n);</text>
</subparagraph><subparagraph id="H0B8F2A91D25F4A4690232F76D1418F69"><enum>(B)</enum><text>weigh 0.5 ounce;
and</text>
</subparagraph><subparagraph id="H0FA685A56E2849D5BCE620396E62D13E"><enum>(C)</enum><text>contain 99.99
percent pure gold.</text>
</subparagraph></paragraph><paragraph id="HA57B49E760454E3D87F295C39429235D"><enum>(3)</enum><header>Design
requirements</header>
<subparagraph id="H0CA20E33F5644C08A9C83870505CCAF2"><enum>(A)</enum><header>Coin
obverse</header><text>The design on the obverse of each coin issued under this
subsection shall contain—</text>
<clause id="HAD132AC3A1314F7B8BE9EF54111614F7"><enum>(i)</enum><text>the name and
likeness of a person who was a spouse of a President during the President’s
period of service;</text>
</clause><clause id="HB5D898C508804831A5AC9F211E64D6CE"><enum>(ii)</enum><text>an inscription of
the years during which such person was the spouse of a President during the
President’s period of service; and</text>
</clause><clause id="H769C803553EC4A0BB25DD379B752B08F"><enum>(iii)</enum><text>a number
indicating the order of the period of service in which such President
served.</text>
</clause></subparagraph><subparagraph id="H717F5A53DC2F41E50084E286D00A1D2"><enum>(B)</enum><header>Coin
reverse</header><text>The design on the reverse of each coin issued under this
subsection shall bear—</text>
<clause id="H485BE0E8BE124B86B92C3FF9611DA964"><enum>(i)</enum><text>images emblematic
of the life and work of the First Spouse whose image is borne on the obverse;
and</text>
</clause><clause id="H32D6918F4D614D19AFDF61CA14BCF400"><enum>(ii)</enum><text>the inscription
<quote>United States of America</quote>.</text>
</clause></subparagraph><subparagraph id="HAD30FCB2739747A981975CB8E1CE8EE2"><enum>(C)</enum><header>Designated
denomination</header><text>Each coin issued under this subsection shall bear,
on the reverse, an inscription of the nominal denomination of the coin which
shall be <quote>$10</quote>.</text>
</subparagraph><subparagraph id="H2060D4C4C1274463915F91A4B0C3D5FB"><enum>(D)</enum><header>Design in case
of no first spouse</header><text>In the case of any President who served
without a spouse—</text>
<clause id="HFD2F282990FD487885E71870184815AE"><enum>(i)</enum><text>the image on the
obverse of the bullion coin corresponding to the $1 coin relating to such
President shall be an image emblematic of the concept of
<quote>Liberty</quote>—</text>
<subclause id="HD3B05D7B9E9947BEB392833408B1013F"><enum>(I)</enum><text>as represented on
a United States coin issued during the period of service of such President;
or</text>
</subclause><subclause id="HB3FB673D71664FCCA49952D35B336857"><enum>(II)</enum><text>as represented,
in the case of President Chester Alan Arthur, by a design incorporating the
name and likeness of Alice Paul, a leading strategist in the suffrage movement,
who was instrumental in gaining women the right to vote upon the adoption of
the 19th amendment and thus the ability to participate in the election of
future Presidents, and who was born on January 11, 1885, during the term of
President Arthur; and</text>
</subclause></clause><clause id="H9803FDB555D14E928C75C1CB3D31248D"><enum>(ii)</enum><text>the reverse of
such bullion coin shall be of a design representative of themes of such
President, except that in the case of the bullion coin referred to in clause
(i)(II) the reverse of such coin shall be representative of the suffrage
movement.</text>
</clause></subparagraph><subparagraph id="HBD3B85A9B9EA450090F3C8F3509BF205"><enum>(E)</enum><header>Design and coin
for each spouse</header><text>A separate coin shall be designed and issued
under this section for each person who was the spouse of a President during any
portion of a term of office of such President.</text>
</subparagraph><subparagraph id="H4B4DEE1916A6476BB62DA7472330594"><enum>(F)</enum><header>Inscriptions</header><text>Each
bullion coin issued under this subsection shall bear the inscription of the
year of minting or issuance of the coin and such other inscriptions as the
Secretary may determine to be appropriate.</text>
</subparagraph></paragraph><paragraph id="HBB03DEFF531C4EB3808DFA04E821B0F3"><enum>(4)</enum><header>Sale of bullion
coins</header><text>Each bullion coin issued under this subsection shall be
sold by the Secretary at a price that is equal to or greater than the sum
of—</text>
<subparagraph id="H354DA175F7074A359269DE7944CF3C"><enum>(A)</enum><text>the face value of
the coins; and</text>
</subparagraph><subparagraph id="H2290DCEED12342BDA8416E80E654EE14"><enum>(B)</enum><text>the cost of
designing and issuing the coins (including labor, materials, dies, use of
machinery, overhead expenses, marketing, and shipping).</text>
</subparagraph></paragraph><paragraph id="H65CC25E988364727873FF150958CE376"><enum>(5)</enum><header>Issuance of
coins commemorating first spouses</header>
<subparagraph id="H174C8B7B85A94C988D3D46751FC9EF2F"><enum>(A)</enum><header>In
general</header><text>The bullion coins issued under this subsection with
respect to any spouse of a President shall be issued on the same schedule as
the $1 coin issued under subsection (n) with respect to each such
President.</text>
</subparagraph><subparagraph id="H1EEE2F8437A54DB984C8A07FBEB05BCE"><enum>(B)</enum><header>Maximum number
of bullion coins for each design</header><text>The Secretary shall—</text>
<clause id="H1F868D47D6BE4D0AABDB6C7C45B2B5EA"><enum>(i)</enum><text>prescribe, on the
basis of such factors as the Secretary determines to be appropriate, the
maximum number of bullion coins that shall be issued with each of the designs
selected under this subsection; and</text>
</clause><clause id="H23C803471392407AB6849F617B526C6C"><enum>(ii)</enum><text>announce, before
the issuance of the bullion coins of each such design, the maximum number of
bullion coins of that design that will be issued.</text>
</clause></subparagraph><subparagraph id="HA13786DF574D4BDA0025F679F9113D1F"><enum>(C)</enum><header>Termination of
program</header><text>No bullion coin may be issued under this subsection after
the termination, in accordance with subsection (n)(8), of the $1 coin program
established under subsection (n).</text>
</subparagraph></paragraph><paragraph id="HC1021CED76484F23A0A51D0B06493EA"><enum>(6)</enum><header>Quality of
coins</header><text>The bullion coins minted under this Act shall be issued in
both proof and uncirculated qualities.</text>
</paragraph><paragraph id="H00E8DAAF7D444F3300B88997DF9F9E3B"><enum>(7)</enum><header>Source of gold
bullion</header>
<subparagraph id="id2BE40FDCCB87429592435617C4DA960E"><enum>(A)</enum><header>In
general</header><text>The Secretary shall acquire gold for the coins issued
under this subsection by purchase of gold mined from natural deposits in the
United States, or in a territory or possession of the United States, within 1
year after the month in which the ore from which it is derived was
mined.</text>
</subparagraph><subparagraph id="idAD44DA44FF434F2E94B245575A9A9FE2"><enum>(B)</enum><header>Price of
gold</header><text>The Secretary shall pay not more than the average world
price for the gold mined under subparagraph (A).</text>
</subparagraph></paragraph><paragraph id="H6D7626DDF8B64ECBB33C049BA842277D"><enum>(8)</enum><header>Bronze
medals</header><text>The Secretary may strike and sell bronze medals that bear
the likeness of the bullion coins authorized under this subsection, at a price,
size, and weight, and with such inscriptions, as the Secretary determines to be
appropriate.</text>
</paragraph><paragraph id="idD9FF200D631A4C878AE63922F8EF2679"><enum>(9)</enum><header>Legal
tender</header><text>The coins minted under this title shall be legal tender,
as provided in section 5103.</text>
</paragraph><paragraph id="idB7BCFBD39EFF437B9394774B56271730"><enum>(10)</enum><header>Treatment as
numismatic items</header><text>For purposes of section 5134 and 5136, all coins
minted under this subsection shall be considered to be numismatic
items.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</section><section display-inline="no-display-inline" id="HD226C1F9D0764A61A730E602384CDEA3"><enum>104.</enum><header>Removal of
barriers to circulation</header><text display-inline="no-display-inline">Section 5112 of title 31, United States
Code, as amended by sections 102 and 103, by adding at the end the
following:</text>
<quoted-block id="H9CA84E4120444B9E816EBC86F9A5BB8B">
<subsection id="H49D121C3E8CF4A889FF01E02DD659330"><enum>(p)</enum><header>Removal of
barriers to circulation of $1 coin</header>
<paragraph id="H9B2161DBACA04B9C9ECB34EF37179B20"><enum>(1)</enum><header>Acceptance by
agencies and instrumentalities</header><text>Beginning January 1, 2006, all
agencies and instrumentalities of the United States, the United States Postal
Service, all nonappropriated fund instrumentalities established under title 10,
United States Code, all transportation and transit systems and entities that
receive operational subsidies or any disbursement of funds from the Federal
Government, such as funds from the Federal Highway Trust Fund, including the
Mass Transit Account, and all entities that operate any business, including
vending machines, on any premises owned by the United States or under the
control of any agency or instrumentality of the United States, including the
legislative and judicial branches of the Federal Government, shall take such
action as may be appropriate to ensure that by the end of the 1-year period
beginning on such date—</text>
<subparagraph id="H4FAE9021B24741409D13682815BFFFEC"><enum>(A)</enum><text>any business
operations conducted by any such agency, instrumentality, system, or entity
that involve coins or currency will be fully capable of accepting and
dispensing $1 coins in connection with such operations; and</text>
</subparagraph><subparagraph id="HE37B819F4E0D47AA9192654C553C6C7D"><enum>(B)</enum><text>prominently
displays signs and notices denoting such capability on the premises where coins
or currency are accepted or dispensed, including on each vending
machine.</text>
</subparagraph></paragraph><paragraph id="HB72E8A1DAD1247F2AC5572AA95940007"><enum>(2)</enum><header>Publicity</header><text>The
Director of the United States Mint, shall work closely with consumer groups,
media outlets, and schools to ensure an adequate amount of news coverage, and
other means of increasing public awareness, of the inauguration of the
Presidential $1 Coin Program established in subsection (n) to ensure that
consumers know of the availability of the coin.</text>
</paragraph><paragraph id="HF049584011274EB9BA2938C517D25C34"><enum>(3)</enum><header>Coordination</header><text>The
Board of Governors of the Federal Reserve System and the Secretary shall take
steps to ensure that an adequate supply of $1 coins is available for commerce
and collectors at such places and in such quantities as are appropriate
by—</text>
<subparagraph id="H0C8272141E674207B5E0E2089947A8BA"><enum>(A)</enum><text display-inline="yes-display-inline">consulting, to accurately gauge demand for
coins and to anticipate and eliminate obstacles to the easy and efficient
distribution and circulation of $1 coins as well as all other circulating
coins, from time to time but no less frequently than annually, with a coin
users group, which may include—</text>
<clause id="idEAC0B579520245A898C3EC2BB6A75101"><enum>(i)</enum><text display-inline="yes-display-inline">representatives of merchants who would
benefit from the increased usage of $1 coins;</text>
</clause><clause id="idDC2F69C067DE4CB2A11E11F33632BD00"><enum>(ii)</enum><text display-inline="yes-display-inline">vending machine and other coin acceptor
manufacturers;</text>
</clause><clause id="id8EC9D3CB8AA340E7861096400F9F9F6E"><enum>(iii)</enum><text display-inline="yes-display-inline">vending machine owners and
operators;</text>
</clause><clause id="id736ABD75236E4B27ADCE00FB13ABC066"><enum>(iv)</enum><text display-inline="yes-display-inline">transit officials;</text>
</clause><clause id="idDA9F34A6F4774972A8EA18B94E6A7BBA"><enum>(v)</enum><text display-inline="yes-display-inline">municipal parking officials;</text>
</clause><clause id="id4047C4DB96CD4A3D9E73384A53F78E58"><enum>(vi)</enum><text display-inline="yes-display-inline">depository institutions;</text>
</clause><clause id="id081FB31110F14208B3D9F9B9DD0A5EA1"><enum>(vii)</enum><text display-inline="yes-display-inline">coin and currency handlers;</text>
</clause><clause id="id60B41185A7EB4282BD1143A03E35F819"><enum>(viii)</enum><text display-inline="yes-display-inline">armored-car operators;</text>
</clause><clause id="id8D7BAD1336DF4708854876DBB3247BC9"><enum>(ix)</enum><text display-inline="yes-display-inline">car wash operators; and</text>
</clause><clause id="id2A010AA9A6F94B419097BA0CFFE918C9"><enum>(x)</enum><text display-inline="yes-display-inline">coin collectors and dealers;</text>
</clause></subparagraph><subparagraph id="H04F75635D5DC4BC28DEC21A02004AAB2"><enum>(B)</enum><text display-inline="yes-display-inline">submitting an annual report to the Congress
containing—</text>
<clause id="H087618DB67114CA792100018AB711711"><enum>(i)</enum><text>an
assessment of the remaining obstacles to the efficient and timely circulation
of coins, particularly $1 coins;</text>
</clause><clause id="H9B8183BD73444814BDC2CD3D1E8CFE08"><enum>(ii)</enum><text>an assessment of
the extent to which the goals of subparagraph (C) are being met; and</text>
</clause><clause id="H2248D7AD695648E5B7373962F2760022"><enum>(iii)</enum><text>such
recommendations for legislative action the Board and the Secretary may
determine to be appropriate;</text>
</clause></subparagraph><subparagraph id="HA616E41031E6450EA2B88FDE0090CCE4"><enum>(C)</enum><text>consulting with
industry representatives to encourage operators of vending machines and other
automated coin-accepting devices in the United States to accept coins issued
under the Presidential $1 Coin Program established under subsection (n) and any
coins bearing any design in effect before the issuance of coins required under
subsection (n) (including the so-called <quote>Sacagawea-design</quote> $1
coins), and to include notices on the machines and devices of such
acceptability;</text>
</subparagraph><subparagraph id="H4CF0BE3CD33B49DD9105001ED6F1992E"><enum>(D)</enum><text>ensuring
that—</text>
<clause id="HBF86667C73824941BFADD5957291AEC"><enum>(i)</enum><text>during an
introductory period, all institutions that want unmixed supplies of each
newly-issued design of $1 coins minted under subsections (n) and (o) are able
to obtain such unmixed supplies; and</text>
</clause><clause id="HCEE7DA8505994436BE1E1CC5AB5FEE59"><enum>(ii)</enum><text>circulating coins
will be available for ordinary commerce in packaging of sizes and types
appropriate for and useful to ordinary commerce, including rolled coins;</text>
</clause></subparagraph><subparagraph id="H835905E86F424B0293FCAD752C6DF612"><enum>(E)</enum><text>working closely
with any agency, instrumentality, system, or entity referred to in paragraph
(1) to facilitate compliance with the requirements of such paragraph;
and</text>
</subparagraph><subparagraph id="H0F9BB6AB20724E0DBEA7BC8859BF7B96"><enum>(F)</enum><text>identifying,
analyzing, and overcoming barriers to the robust circulation of $1 coins minted
under subsections (n) and (o), including the use of demand prediction, improved
methods of distribution and circulation, and improved public education and
awareness campaigns.</text>
</subparagraph></paragraph><paragraph id="H8BCC8D94386E45A9845E10244C749DC2"><enum>(4)</enum><header>Bullion
dealers</header><text>The Director of the United States Mint shall take all
steps necessary to ensure that a maximum number of reputable, reliable, and
responsible dealers are qualified to offer for sale all bullion coins struck
and issued by the United States Mint.</text>
</paragraph><paragraph id="HC0A6AF7D1BFA4B1B9988A9FDC3682DD5"><enum>(5)</enum><header>Review of
co-circulation</header><text>At such time as the Secretary determines to be
appropriate, and after consultation with the Board of Governors of the Federal
Reserve System, the Secretary shall notify the Congress of its assessment of
issues related to the co-circulation of any circulating $1 coin bearing any
design, other than the so-called <quote>Sacagawea-design</quote> $1 coin, in
effect before the issuance of coins required under subsection (n), including
the effect of co-circulation on the acceptance and use of $1 coins, and make
recommendations to the Congress for improving the circulation of $1
coins.</text>
</paragraph></subsection><after-quoted-block>.
</after-quoted-block></quoted-block>
</section><section display-inline="no-display-inline" id="H88924B4A12B847CEB88B3674098EB924"><enum>105.</enum><header>Sense of the
Congress</header><text display-inline="no-display-inline">It is the sense of
the Congress that—</text>
<paragraph id="H169C7A4A33A0439ABC9C5FBBF2A978DF"><enum>(1)</enum><text display-inline="yes-display-inline">the enactment of this Act will serve to
increase the use of $1 coins generally, which will increase the circulation of
the so-called <quote>Sacagawea-design</quote> $1 coins that have been and will
continue to be minted and issued;</text>
</paragraph><paragraph id="HF34DA8ED717641FBAB235EF1C193E55F"><enum>(2)</enum><text display-inline="yes-display-inline">the continued minting and issuance of the
so-called <quote>Sacagawea-design</quote> $1 coins will serve as a lasting
tribute to the role of women and Native Americans in the history of the United
States;</text>
</paragraph><paragraph id="H6B35AFEAD9CE42F0B56B49E2F7693821"><enum>(3)</enum><text>the full
circulation potential and cost-savings benefit projections for the $1 coins are
not likely to be achieved unless the coins are delivered in ways useful to
ordinary commerce;</text>
</paragraph><paragraph display-inline="no-display-inline" id="H3234C577D6344F96B595AE00C380889C"><enum>(4)</enum><text>the coins issued
in connection with this title should not be introduced with an overly expensive
taxpayer-funded public relations campaign;</text>
</paragraph><paragraph id="H872C1F801C7D4E31B072003512E45EBD"><enum>(5)</enum><text display-inline="yes-display-inline">in order for the circulation of $1 coins to
achieve maximum potential—</text>
<subparagraph id="H130BCF1672474045BA926EFC9D7319B4"><enum>(A)</enum><text>the coins should
be as attractive as possible; and</text>
</subparagraph><subparagraph id="HF60A3C64ED914BC4ADF200A2106E0010"><enum>(B)</enum><text>the Director of
the United States Mint should take all reasonable steps to ensure that all $1
coins minted and issued remain tarnish-free for as long as possible without
incurring undue expense; and</text>
</subparagraph></paragraph><paragraph display-inline="no-display-inline" id="HF9D8A1F37AB64FB5A6C9B1E32B9099B5"><enum>(6)</enum><text>if the Secretary
of the Treasury determines to include on any $1 coin minted under section 102
of this Act a mark denoting the United States Mint facility at which the coin
was struck, such mark should be edge-incused.</text>
</paragraph></section><enum>II</enum><header>Buffalo gold
bullion coins</header>
<section id="H4DE584CF176C4B6BB6C40273FC6C0B8"><enum>201.</enum><header>Gold bullion
coins</header><text display-inline="no-display-inline">Section 5112 of title
31, United States Code, is amended—</text>
<paragraph id="HD267C1E7BE8649DA9CEC54B3422E5DFE"><enum>(1)</enum><text>in subsection (a),
by adding at the end the following:</text>
<quoted-block id="HC22D7D21B34040878B6C4623177795D">
<paragraph id="HCC396C1804B24A79903FD37EFD723540"><enum>(11)</enum><text>A $20 gold coin
that is of an appropriate size and thickness, as determined by the Secretary,
weighs 1 ounce, and contains 99.99 percent pure
gold.</text>
</paragraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</paragraph><paragraph id="HCB814014C8B54EAAB8488773C9D1CEF5"><enum>(2)</enum><text>by adding at the
end, the following:</text>
<quoted-block id="HFB4DC0C7956142E197D67D6558D8CE52">
<subsection id="H3526CF60CA9445C5A27791D15F351734"><enum>(q)</enum><header>Gold bullion
coins</header>
<paragraph id="HAE891DA11AB34004B5E7975E2B38EBC8"><enum>(1)</enum><header>In
general</header><text>Not later than 6 months after the date of enactment of
the Presidential $1 Coin Act of 2005, the Secretary shall commence striking and
issuing for sale such number of $20 gold bullion coins as the Secretary may
determine to be appropriate, not to exceed 500,000 in any year.</text>
</paragraph><paragraph id="HC20B9D16932D4745A03F77ECB09346F7"><enum>(2)</enum><header>Initial
design</header>
<subparagraph id="H909BA42A953444069CAC14CBE3583D00"><enum>(A)</enum><header>In
general</header><text>Except as provided under subparagraph (B), the obverse
and reverse of the gold bullion coins struck under this subsection during the
first year of issuance shall bear the original designs by James Earle Fraser,
which appear on the 5-cent coin commonly referred to as the <quote>Buffalo
nickel</quote> or the <quote>1913 Type 1</quote>.</text>
</subparagraph><subparagraph id="HBF6AAD466E8F45F59CDF1C52F8B59473"><enum>(B)</enum><header>Variations</header><text>The
coins referred to in subparagraph (A) shall—</text>
<clause id="HEA86806733B448B7982407A2B5DC2E9E"><enum>(i)</enum><text>have inscriptions
of the weight of the coin and the nominal denomination of the coin incused in
that portion of the design on the reverse of the coin commonly known as the
<quote>grassy mound</quote>; and</text>
</clause><clause id="H6A77DDFA1C48472D0080DB1BAA1903FF"><enum>(ii)</enum><text>bear such other
inscriptions as the Secretary determines to be appropriate.</text>
</clause></subparagraph></paragraph><paragraph id="H6F9DCE12879F4141A65897C6DF61F672"><enum>(3)</enum><header>Subsequent
designs</header><text>After the 1-year period described to in paragraph (2),
the Secretary may—</text>
<subparagraph id="H7288EE78366F40A3928B7194277CFABE"><enum>(A)</enum><text>after consulting
with the Commission of Fine Arts, and subject to the review of the Citizens
Coinage Advisory Committee, change the design on the obverse or reverse of gold
bullion coins struck under this subsection; and</text>
</subparagraph><subparagraph id="H969BFA53AE854B68B51375DBD9C9AC11"><enum>(B)</enum><text>change the maximum
number of coins issued in any year.</text>
</subparagraph></paragraph><paragraph id="HF0EB2F897A4B44A9A8869B85ED953280"><enum>(4)</enum><header>Source of gold
bullion</header>
<subparagraph id="idCF77D817B5C94F99A4019F32D36EEF52"><enum>(A)</enum><header>In
general</header><text>The Secretary shall acquire gold for the coins issued
under this subsection by purchase of gold mined from natural deposits in the
United States, or in a territory or possession of the United States, within 1
year after the month in which the ore from which it is derived was
mined.</text>
</subparagraph><subparagraph id="id10770CF3D8F14381BEB72AB931A74BEC"><enum>(B)</enum><header>Price of
gold</header><text>The Secretary shall pay not more than the average world
price for the gold mined under subparagraph (A).</text>
</subparagraph></paragraph><paragraph id="H8109334F7BA6422C0009B2B3D6681EBA"><enum>(5)</enum><header>Sale of
coins</header><text>Each gold bullion coin issued under this subsection shall
be sold for an amount the Secretary determines to be appropriate, but not less
than the sum of—</text>
<subparagraph id="HBBF8BD92F6D8433DBD70926D2DD4284B"><enum>(A)</enum><text>the face value of
the coins; and</text>
</subparagraph><subparagraph id="H25CC937BFBF04D51AF5000277D506F90"><enum>(B)</enum><text>the cost of
designing and issuing the coins, including labor, materials, dies, use of
machinery, overhead expenses, marketing, and shipping.</text>
</subparagraph></paragraph><paragraph id="idED0DFEB10E5F463C9773AFC09EFCC128"><enum>(6)</enum><header>Legal
tender</header><text>The coins minted under this title shall be legal tender,
as provided in section 5103.</text>
</paragraph><paragraph id="id135351C466604AB88543F32C1DE9F773"><enum>(7)</enum><header>Treatment as
numismatic items</header><text>For purposes of section 5134 and 5136, all coins
minted under this subsection shall be considered to be numismatic
items.</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></section><enum>III</enum><header>Abraham Lincoln
Bicentennial 1-Cent Coin Redesign</header>
<section id="H7383EB417F0B43F999273B32A8E547E7"><enum>301.</enum><header>Findings</header><text display-inline="no-display-inline">Congress finds the following:</text>
<paragraph display-inline="no-display-inline" id="H38C7EA8C5D7642EAAA09AB5287E69184"><enum>(1)</enum><text display-inline="yes-display-inline">Abraham Lincoln, the 16th President, was
one of the Nation's greatest leaders, demonstrating true courage during the
Civil War, one of the greatest crises in the Nation's history.</text>
</paragraph><paragraph id="H097F615A15B64B7E839999A12C007742"><enum>(2)</enum><text display-inline="yes-display-inline">Born of humble roots in Hardin County
(present-day LaRue County), Kentucky, on February 12, 1809, Abraham Lincoln
rose to the Presidency through a combination of honesty, integrity,
intelligence, and commitment to the United States.</text>
</paragraph><paragraph id="HC43576CF1F7D4F70817F78D37206B424"><enum>(3)</enum><text>With the belief
that all men are created equal, Abraham Lincoln led the effort to free all
slaves in the United States.</text>
</paragraph><paragraph id="HAC040BD11070405F8C81E0A1ED4CF0C3"><enum>(4)</enum><text>Abraham Lincoln
had a generous heart, with malice toward none, and with charity for all.</text>
</paragraph><paragraph id="H2C4B482EB2B544B093B38E3432703DBD"><enum>(5)</enum><text>Abraham Lincoln
gave the ultimate sacrifice for the country he loved, dying from an assassin's
bullet on April 15, 1865.</text>
</paragraph><paragraph id="H4B2F2F4119354059807B7854B31ECEB1"><enum>(6)</enum><text>All Americans
could benefit from studying the life of Abraham Lincoln, for Lincoln's life is
a model for accomplishing the <quote>American dream</quote> through honesty,
integrity, loyalty, and a lifetime of education.</text>
</paragraph><paragraph id="HFA98B8E940FD4DCEA888FEB7969EABE1"><enum>(7)</enum><text>The year 2009 will
be the bicentennial anniversary of the birth of Abraham Lincoln.</text>
</paragraph><paragraph id="H28A951895747431BA44BBD905D7279F"><enum>(8)</enum><text>Abraham Lincoln was
born in Kentucky, grew to adulthood in Indiana, achieved fame in Illinois, and
led the nation in Washington, D.C.</text>
</paragraph><paragraph id="H98C7501E35B44F25A4C80062CAE26B79"><enum>(9)</enum><text>The so-called
<quote>Lincoln cent</quote> was introduced in 1909 on the 100th anniversary of
Lincoln's birth, making the obverse design the most enduring on the nation's
coinage.</text>
</paragraph><paragraph id="HC73F87328E244854AB09B745BC2C3CB6"><enum>(10)</enum><text>President
Theodore Roosevelt was so impressed by the talent of Victor David Brenner that
the sculptor was chosen to design the likeness of President Lincoln for the
coin, adapting a design from a plaque Brenner had prepared earlier.</text>
</paragraph><paragraph id="H4137B1E2F1F0454583B69235F9F094D"><enum>(11)</enum><text display-inline="yes-display-inline">In the nearly 100 years of production of
the <quote>Lincoln cent</quote>, there have been only 2 designs on the reverse:
the original, featuring 2 wheat-heads in memorial style enclosing mottoes, and
the current representation of the Lincoln Memorial in Washington, D.C.</text>
</paragraph><paragraph id="H12AF8AF100224C8E9000EF042C600643"><enum>(12)</enum><text display-inline="yes-display-inline">On the occasion of the bicentennial of
President Lincoln's birth and the 100th anniversary of the production of the
Lincoln cent, it is entirely fitting to issue a series of 1-cent coins with
designs on the reverse that are emblematic of the 4 major periods of President
Lincoln's life.</text>
</paragraph></section><section id="H3AD775A517AD4D77AE15EB3E0ED04ED"><enum>302.</enum><header>Redesign of
Lincoln Cent for 2009</header>
<subsection id="HDF0E50F4DC374ABE9F72E651E2B98DCF"><enum>(a)</enum><header>In
General</header><text>During the year 2009, the Secretary of the Treasury shall
issue 1-cent coins in accordance with the following design
specifications:</text>
<paragraph id="HFA40D339573C4072B8DD8DB127B4A9E8"><enum>(1)</enum><header>Obverse</header><text display-inline="yes-display-inline">The obverse of the 1-cent coin shall
continue to bear the Victor David Brenner likeness of President Abraham
Lincoln.</text>
</paragraph><paragraph id="H796DDCCB7FBB4BB5B259A4EA47C997B0"><enum>(2)</enum><header>Reverse</header><text>The
reverse of the coins shall bear 4 different designs each representing a
different aspect of the life of Abraham Lincoln, such as—</text>
<subparagraph id="HC0B246EF7F1B40548CCCBD93FBCD6936"><enum>(A)</enum><text display-inline="yes-display-inline">his birth and early childhood in
Kentucky;</text>
</subparagraph><subparagraph id="H3564E984867746189362003643C71318"><enum>(B)</enum><text display-inline="yes-display-inline">his formative years in Indiana;</text>
</subparagraph><subparagraph id="H1316834060D648D3B915A0C25274D495"><enum>(C)</enum><text display-inline="yes-display-inline">his professional life in Illinois;
and</text>
</subparagraph><subparagraph id="HFF9A870BE8BC46A7A2C2827FDBA1DE39"><enum>(D)</enum><text>his presidency, in
Washington, D.C.</text>
</subparagraph></paragraph></subsection><subsection id="HB5824FD1F6C84B71BEA074E9BD53FD9B"><enum>(b)</enum><header>Issuance of
Redesigned Lincoln Cents in 2009</header>
<paragraph id="H487136014B7E4FEDA56B2CE900D633F2"><enum>(1)</enum><header>Order</header><text display-inline="yes-display-inline">The 1-cent coins to which this section
applies shall be issued with 1 of the 4 designs referred to in subsection
(a)(2) beginning at the start of each calendar quarter of 2009.</text>
</paragraph><paragraph id="H3DB199914B0544D5A5B208760800F319"><enum>(2)</enum><header>Number</header><text>The
Secretary shall prescribe, on the basis of such factors as the Secretary
determines to be appropriate, the number of 1-cent coins that shall be issued
with each of the designs selected for each calendar quarter of 2009.</text>
</paragraph></subsection><subsection id="HFE34640884F347AB96F8288B599BBE49"><enum>(c)</enum><header>Design
Selection</header><text display-inline="yes-display-inline">The designs for the
coins specified in this section shall be chosen by the Secretary—</text>
<paragraph id="HF92C92FE832542E5BDC01DA2BBC19508"><enum>(1)</enum><text>after consultation
with the Abraham Lincoln Bicentennial Commission and the Commission of Fine
Arts; and</text>
</paragraph><paragraph id="H8176744B92FF48F4A6E5228CCE9B572D"><enum>(2)</enum><text>after review by
the Citizens Coinage Advisory Committee.</text>
</paragraph></subsection></section><section id="H4DC426D6C1EC4BADB7BEEFFE01A2DBFD"><enum>303.</enum><header>Redesign of
Reverse of 1-cent coins after 2009</header><text display-inline="no-display-inline">The design on the reverse of the 1-cent
coins issued after December 31, 2009, shall bear an image emblematic of
President Lincoln's preservation of the United States of America as a single
and united country.</text>
</section><section id="H52FA2F188A0F40189EE83041F3031EA1"><enum>304.</enum><header>Numismatic
pennies with the same metallic content as the 1909 penny</header><text display-inline="no-display-inline">The Secretary of the Treasury shall issue
1-cent coins in 2009 with the exact metallic content as the 1-cent coin
contained in 1909 in such number as the Secretary determines to be appropriate
for numismatic purposes</text>
</section><section commented="no" display-inline="no-display-inline" id="HFDD7CCBA08164229BCA0CC59C2F390E" section-type="subsequent-section"><enum>305.</enum><header>Sense of the
Congress</header><text display-inline="no-display-inline">It is the sense of
the Congress that the original Victor David Brenner design for the 1-cent coin
was a dramatic departure from previous American coinage that should be
reproduced, using the original form and relief of the likeness of Abraham
Lincoln, on the 1-cent coins issued in 2009.</text>
</section>