[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4329 Introduced in House (IH)]
111th CONGRESS
1st Session
H. R. 4329
To require the Secretary of the Treasury to mint coins in commemoration
of President James Monroe, and for other purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
December 16, 2009
Mr. Wittman introduced the following bill; which was referred to the
Committee on Financial Services
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of President James Monroe, 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 ``James Monroe Commemorative Coin
Act''.
SEC. 2. FINDINGS.
The Congress hereby finds as follows:
(1) James Monroe was the only United States President
besides George Washington to have actively served in the
regular military during the Revolutionary War.
(2) James Monroe--
(A) participated in the Battles of Harlem Heights
and White Plains;
(B) crossed the Delaware River in advance of George
Washington;
(C) was seriously wounded at the Battle of Trenton
and cited for conspicuous gallantry;
(D) wintered with the Continental Army at Valley
Forge; and
(E) subsequently participated in the Battles of
Brandywine, Germantown and Monmouth.
(3) James Monroe served at the State level in the Virginia
House of Delegates and served 4 times as the Governor of
Virginia.
(4) James Monroe served at the national level as a member
of the Continental Congress, United States Senator, Minister to
France (negotiating the Louisiana Purchase), Minister to Spain,
Minister to England, Secretary of War, and Secretary of State
(he was the only person to ever hold those 2 posts
simultaneously, defending the Nation during the War of 1812),
and finally as President of the United States from 1817-1825.
(5) James Monroe's accomplishments as President included
the purchase of Florida, limiting the expansion of slavery, the
admission of Maine and Missouri as States, and the promulgation
of principles that became known as the ``Monroe Doctrine'' on
December 2, 1823, expanding the concept of hemispheric
independence beyond the United States--truly making him one of
the most important figures in our Nation's history.
(6) The bicentennial of the election of James Monroe as
President will occur in 2016, an election which ushered in what
has been known since as the ``Era of Good Feelings''.
SEC. 3. COIN SPECIFICATIONS.
(a) Denominations.--In commemoration of the bicentennial of the
election of James Monroe to the first of 2 terms as President of the
United States of America, the Secretary of the Treasury (hereafter in
this Act referred to as the ``Secretary'') shall mint and issue the
following coins:
(1) $50 gold coins.--Not more than 20,000 $50 gold coins
which shall--
(A) weigh 33.931 grams;
(B) have a diameter of 32.7 millimeters; and
(C) contain 1 troy ounce of fine gold.
(2) $1 silver coins.--Not more than 275,000 $1 coins 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.
(3) Half dollar clad coins.--Not more than 500,000 half
dollar coins, which shall--
(A) weigh 11.34 grams;
(B) have a diameter of 1.205 inches; and
(C) be minted to the specifications for half dollar
coins, contained in section 5112(b) of title 31, United
States Code.
(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 section 5134 of title 31,
United States Code, all coins minted under this Act shall be considered
to be numismatic items.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be emblematic of President James Monroe and his
immeasurable contributions to the United States.
(2) Obverse.--The obverse of the coins minted under this
Act shall bear the side profile image of President James Monroe
based upon Rembrandt Peale's 1830 portrait which the James
Monroe Memorial Foundation donated to The Commonwealth of
Virginia in 1964.
(3) Reverse.--The reverse of the coins minted under this
Act shall bear the image of the Monroe birthplace as drawn by
the Colonial Williamsburg Foundation based on the 1830 drawing
published as an etching.
(4) Designations and inscriptions.--On each coin minted
under this Act, there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year ``2016''; 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--
(1) be selected by the Secretary, after consultation with
the James Monroe Memorial Foundation and the Commission of Fine
Arts; and
(2) be reviewed by the Citizens Coinage 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 Facilities.--For each of the 3 coins minted under this
Act, at least 1 facility of the United States Mint shall be used to
strike proof quality coins, while at least 1 other such facility shall
be used to strike the uncirculated quality coins.
(c) Period for Issuance.--The Secretary may issue coins minted
under this Act only during the 1-year period beginning on January 1,
2016.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins issued 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 in section 7(a) with respect to
such coins; and
(3) the cost of designing and issuing the 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
issued 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.
SEC. 7. SURCHARGES.
(a) In General.--All sales of coins minted under this Act shall
include a surcharge as follows:
(1) A surcharge of $35 per coin for the $5 coin.
(2) A surcharge of $10 per coin for the $1 coin.
(3) A surcharge of $5 per coin for the half dollar coin.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, all surcharges received by the Secretary from the sale of
coins issued under this Act shall be promptly paid by the Secretary to
the James Monroe Memorial Foundation for use for the following
purposes:
(1) Development of the reconstructed birthplace of the 5th
President, associated farm buildings, and a visitor and
education center at the James Monroe Birthplace in Westmoreland
County, Virginia.
(2) Continuing support of that facilities described in
paragraph (1), including the acquisition of land originally
owned by the Monroe Family.
(3) Supporting education programs about President James
Monroe, the Monroe Doctrine, including an online library.
(4) Collecting and preserving artifacts and historical
items related to President Monroe, the Monroe Doctrine, and his
era which was known as ``The Era of Good Feelings''.
(c) Audits.--The James Monroe Memorial Foundation shall be subject
to the audit requirements of section 5134(f)(2) of title 31, United
States Code, with regard to the amounts received by such Foundation
under subsection (b).
(d) Limitation.--Notwithstanding subsection (a), no surcharge may
be included with respect to the issuance under this Act of any coin
during a calendar year if, as of the time of such issuance, the
issuance of such coin would result in the number of commemorative coin
programs issued during such year to exceed the annual 2 commemorative
coin program issuance limitation under section 5112(m)(1) of title 31,
United States Code (as in effect on the date of the enactment of this
Act). The Secretary of the Treasury may issue guidance to carry out
this subsection.
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