II 109th CONGRESS 1st Session S. 863 IN THE SENATE OF THE UNITED STATES April 20, 2005 Mr. Conrad (for himself, Mr. Allen, Mr. Alexander, Mr. Baucus, Mr. Bingaman, Mr. Chafee, Mr. Cochran, Mr. Corzine, Mr. Craig, Mr. Dodd, Mr. Dorgan, Mr. Durbin, Mrs. Feinstein, Mr. Hagel, Mr. Jeffords, Mr. Kennedy, Mr. Kerry, Mr. Lautenberg, Mr. Levin, Mr. McCain, Mr. Nelson of Florida, Mr. Nelson of Nebraska, Mr. Pryor, Mr. Rockefeller, Mr. Salazar, Mr. Schumer, Ms. Stabenow, Mr. Stevens, and Mr. Warner) 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 centenary of the bestowal of the Nobel Peace Prize on President Theodore Roosevelt, and for other purposes.
1.
Short title
This Act may be cited as the Theodore Roosevelt Commemorative Coin Act.
2.
Findings
Congress finds that— (1)Theodore Roosevelt, one of America’s greatest Presidents, was born on October 27, 1858, in New York City, New York; (2)at the young age of 23, Theodore Roosevelt was elected to the first of 3 terms as a representative in the New York State Assembly (1882–1884); (3)President William Harrison appointed Theodore Roosevelt as the United States Civil Service Commissioner in 1889, a post he held until 1895, serving 2 successive Presidents; (4)from 1895 to 1897, Theodore Roosevelt served as Commissioner of the New York City Police Department; (5)while serving as Assistant Secretary of the Navy under President William McKinley in 1897 and 1898, Theodore Roosevelt organized the First United States Volunteer Cavalry Regiment, popularly known as the Rough Riders, and served as Colonel of this regiment during the Spanish-American War; (6)from 1898 to 1900, Theodore Roosevelt served as Governor of New York; (7)in 1900, upon the reelection of President McKinley, Theodore Roosevelt was elected as the 25th Vice-President of the United States; (8)as the 26th President of the United States beginning in 1901, Theodore Roosevelt took a very active role in foreign affairs, establishing the United States as a new world power, and instituting broad reforms at home, particularly with respect to labor, monopolies, and conservation, until the end of his presidency in 1909; (9)Theodore Roosevelt’s commitment to conservation stemmed from his experiences as a rancher in the badlands of North Dakota from 1883 to 1886 and earned him the title of the Conservationist President for his efforts in establishing 51 Bird Reserves, 4 Game Preserves, 150 National Forests, 5 National Parks, and 18 National Monuments, totaling nearly 230,000,000 acres of land placed under public protection during his presidency; (10)on January 16, 2001, Theodore Roosevelt was posthumously awarded the Congressional Medal of Honor for leading a charge up the San Juan Heights in Cuba during the Spanish-American War, shortly before the war ended, thereby becoming the first President of the United States to be awarded the Congressional Medal of Honor; and (11)2006 marks the 100th anniversary of Theodore Roosevelt being awarded the Nobel Peace Prize, the first citizen of the United States to receive such prize, for negotiating the 1905 peace treaty ending the Russo-Japanese War.
3.
Coin specifications
(a)
Denominations
The Secretary of the Treasury (referred to in this Act as the Secretary) shall mint and issue the following coins: (1)
$1 silver coins with rough rider design
Not more than 500,000 $1 coins bearing the designs specified in section 4(a)(2), each of which shall— (A)weigh 26.73 grams; (B)have a diameter of 1.500 inches; and (C)contain 90 percent silver and 10 percent copper. (2)
$1 silver coins with adventurer design
Not more than 500,000 $1 coins bearing the designs specified in section 4(a)(3), each of which shall— (A)weigh 26.73 grams; (B)have a diameter of 1.500 inches; and (C)contain 90 percent silver and 10 percent copper. (b)
Legal tender
The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code. (c)
Numismatic items
For purposes of sections 5134 and 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items. (d)
Use of the United States Mint at west point, New York
It is the sense of Congress that the coins minted under this Act should be struck at the United States Mint at West Point, New York, to the greatest extent possible.
4.
Design of coins
(a)
Design requirements
(1)
In general
The design of the coins minted under this Act shall— (A)be emblematic of the life and legacy of President Theodore Roosevelt; and (B)use the designs of James Earle Fraser or Augustus Saint-Gaudens, 2 sculptors most closely associated with the revitalization of the United States coinage, commonly referred to as the Golden Age of American Coin Design, that was initiated by President Theodore Roosevelt. (2)
$1 coins with rough rider design
(A)
Obverse
The obverse of the coins minted under section 3(a)(1) shall bear the image of Theodore Roosevelt as a Rough Rider that was used on the James Earle Fraser medal of 1920. (B)
Reverse
The reverse of the coins minted under section 3(a)(1) shall bear the eagle design, with motto, from the $20 gold double eagle coin produced between 1907 and 1933 and designed by Augustus Saint-Gaudens. (3)
$1 coins with adventurer design
(A)
Obverse
The obverse of the coins minted under section 3(a)(2) shall bear the image of Theodore Roosevelt on horseback, based on James Earle Fraser’s monumental 16-foot high bronze equestrian figure of Roosevelt that— (i)stands at the east front of the American Museum of Natural History in New York City; and (ii)recognizes Roosevelt’s lifelong activity as a naturalist and conservationist and emphasizes him as an adventurer, outdoorsman, and hunter. (B)
Reverse
The reverse of the coins minted under section 3(a)(2) shall bear the design based on the reverse designs by James Earle Fraser used on the Roosevelt Memorial Association Medal of Honor and the Association’s Founders Medal that— (i)depict the crusader’s flaming sword of righteousness and evoke the Big Stick philosophy espoused by President Roosevelt; and (ii)to the left and right of the flaming sword in 4 lines bear the quotation If I Must Choose Between Righteousness and Peace, I Choose Righteousness from Roosevelt’s historical work, Unwise Peace Treaties. (4)
Designation and inscriptions
Each coin minted under this Act shall bear— (A)a designation of the value of the coin; (B)an inscription of the year 2006; and (C)inscriptions of the words Liberty, In God We Trust, United States of America, and E Pluribus Unum. (b)
Selection
The design for the coins minted under this Act shall be— (1)selected by the Secretary, after consultation with the Commission of Fine Arts; and (2)reviewed by the Citizens Coinage Advisory Committee established under section 5135 of title 31, United States Code.
5.
Issuance of coins
(a)
Quality of coins
Coins minted under this Act shall be issued in uncirculated and proof qualities. (b)
Commencement of issuance
The Secretary may issue coins minted under this Act beginning January 1, 2006, except that the Secretary may initiate sales of such coins, without issuance, before such date. (c)
Termination of minting authority
No coins shall be minted under this Act after December 31, 2006.
6.
Sale of coins
(a)
Sale price
The coins minted under this Act shall be sold by the Secretary at a price equal to the sum of— (1)the face value of the coins; (2)the surcharge provided under section 7(a); and (3)the cost of designing and issuing such coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping). (b)
Bulk sales
The Secretary shall make bulk sales of the coins minted under this Act at a reasonable discount. (c)
Prepaid orders
(1)
In general
The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins. (2)
Discount
Sale prices with respect to prepaid orders under paragraph (1) shall be at a reasonable discount. (d)
Sales of single coins and sets of coins
Coins of each design specified under section 4 may be sold separately or as a set containing a coin of each such design.
7.
Surcharges
(a)
Surcharge required
All sales of coins minted under this Act shall include a surcharge of $10 per coin. (b)
Distribution of surcharges
Subject to section 5134(f) of title 31, United States Code, and in accordance with subsection (c) of this section, all surcharges received by the Secretary from the sale of coins minted under this Act shall be promptly paid by the Secretary to— (1)the Theodore Roosevelt Association, to be used exclusively— (A)for educational programs at Sagamore Hill National Historic Site, including construction and maintenance of a visitor's center; and (B)to the extent that funds remain available, in the discretion of the Theodore Roosevelt Association, for the support of other curatorial activities that preserve and enhance collections maintained by institutions of higher learning dedicated to the study and memory of Theodore Roosevelt; and (2)the Theodore Roosevelt Medora Foundation, to be used exclusively— (A)for educational programs at and around the Theodore Roosevelt National Park, including construction of the Theodore Roosevelt Badlands Institute in the badlands of North Dakota; and (B)to the extent that funds remain available, in the discretion of the Theodore Roosevelt Medora Foundation, for the support of other curatorial activities that preserve and enhance collections maintained by institutions of higher learning dedicated to the study and memory of Theodore Roosevelt. (c)
Distribution of amounts
With respect to surcharges received under this section— (1)70 percent of any such surcharges received shall be paid to the Theodore Roosevelt Association; and (2)30 percent any such surcharges received shall be paid to the Theodore Roosevelt Medora Foundation. (d)
Audits
The Theodore Roosevelt Association and the Theodore Roosevelt Medora Foundation shall be subject to the audit requirements under section 5134(f)(2) of title 31, United States Code.