[Congressional Record Volume 141, Number 192 (Tuesday, December 5, 1995)]
[House]
[Pages H13944-H13946]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 AMENDING THE DOUG BARNARD, JR.--1996 ATLANTA CENTENNIAL OLYMPIC GAMES 
                         COMMEMORATIVE COIN ACT

  Mr. CASTLE. Mr. Speaker, I move to suspend the rules and pass the 
bill (H.R. 2336) to amend the Doug Barnard, Jr.--1996 Atlanta 
Centennial Olympic Games Commemorative Coin Act, and for other 
purposes.
  The Clerk read as follows:

                               H.R. 2336

       Be it enacted by the Senate and House of Representatives of 
     the United States of America in Congress assembled,

     SECTION 1. CHANGES IN COIN SPECIFICATIONS.

       Section 102 of the Doug Barnard, Jr.--1996 Atlanta 
     Centennial Olympic Games Commemorative Coin Act (91 U.S.C. 
     5112 note) is amended--
       (1) in the table at the end of subsection (a)--
       (A) by striking ``Not more than 175,000 each of 2 coins of 
     different designs'' and inserting ``2 coins of different 
     designs, in quantities not to exceed 175,000 of each 
     design''; and
       (B) by striking ``Not more than 300,000 each of 2 coins of 
     different designs'' and inserting ``2 coins of different 
     designs, in quantities not to exceed 100,000 of the first 
     design and not to exceed 150,000 of the second design'';
       (2) in the table at the end of subsection (b)--
       (A) by striking ``Not more than 750,000 each of 4 coins of 
     different designs'' and inserting ``4 coins of different 
     designs, in quantities not to exceed 750,000 of each 
     design''; and
       (B) by striking ``Not more than 1,000,000 each of 4 coins 
     of different designs'' and inserting ``4 coins of different 
     designs, in quantities not to exceed 350,000 of each of the 
     first 2 designs, and not to exceed 500,000 of each of the 
     remaining 2 designs''; and
       (3) by striking subsection (c) and inserting the following:
       ``(c) Half Dollar Clad Coins.--
       ``(1) Specifications.--The Secretary shall issue not more 
     than 8,000,000 half dollar coins, each of which shall--
       ``(A) weight 11.34 grams;
       ``(B) have a diameter of 30.61 millimeters;
       ``(C) be minted to the specifications for half dollar coins 
     under section 5112(b) of title 31, United States Code; and
       ``(D) contain an inscription of the year `1995' or `1996', 
     as the Secretary determines to be appropriate.
       ``(2) Designs.--Coins issued under paragraph (1) shall be 
     of 4 designs selected in accordance with this Act in such 
     quantities as the Secretary determines to be appropriate.''.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Delaware [Mr. Castle] will be recognized for 20 minutes, and the 
gentleman from New York [Mr. Flake] will be recognized for 20 minutes.
  The Chair recognizes the gentleman from Delaware [Mr. Castle].
  Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, today I rise in support of H.R. 2336, a measure that 
lowers the minting levels of the Atlanta Olympia commemorative coins. I 
am grateful to enjoy the support of Representative James A. Leach, 
chairman of the Committee on Banking and Financial Services. On the 
other side of the aisle, Representative Gonzalez, former committee 
chairman; Representative Flake, the ranking member of the subcommittee; 
and Representative Frank of Massachusetts have provided their strong 
support for this legislation, and I am very appreciative of their 
efforts. I must also acknowledge the valued input and support of 
Representatives Barr, Lucas, and Metcalf of the subcommittee.
  Mr. Speaker, the Subcommittee on Domestic and International Monetary 
Policy of the House Banking and Financial Services Committee has 
primary jurisdiction over the commemorative coin programs of the U.S. 
Mint. This legislation is supported by the Atlanta Committee, the U.S. 
Mint, the Citizens Commemorative Coin Advisory Committee [CCCAC], and 
the Georgia congressional delegation.
  Mr. Speaker, H.R. 2336 amends the mintage levels in section 102 of 
the 1996 Atlanta Olympic Games Commemorative Coin Act. The maximum 1996 
minting of the two gold coins, previously authorized for 600,000 for 
both, is reduced to a total of 250,000. The 1996 minting of $1 silver 
coins is reduced from 4 million total of four designs to a sum total of 
1.7 million. Half-dollar coins, originally slated for a minting of 10 
million, are reduced to 8 million over 2 years. These reductions are 
necessary for the success of the program.
  Mr. Speaker, this bill is supported by the people and groups that 
will be directly affected; namely, the Atlanta Committee, the people of 
Georgia, and the Citizens Commemorative Coin Advisory Committee. They 
realize that unless the rate of sales are increased, the Atlanta 
Olympic commemorative coin program will not achieve its potential. By 
lowering the mintage levels, collector interest should be stimulated, 
and the overall program would be enhanced. This bill is necessary for 
the success of the Atlanta Olympic coin program, and I urge its 
immediate adoption.
  Mr. Speaker, I reserve the balance of my time.
  Mr. FLAKE. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I rise today in support of H.R. 2336, a measure to amend 
the Doug Barnard, Jr. 1996 Atlanta Centennial Olympic Games 
Commemorative Coin Act. The Georgia delegation, in bipartisan 
cooperation, has sponsored this bill which will protect the integrity 
of the commemorative process. More importantly, however, the bill will 
ensure the integrity of the Atlanta games next summer.
  Mr. Speaker, the Atlanta Centennial Olympic Games will be a milestone 
for both peace and sport. The games represent the largest peacetime 
event in world history, and in the tradition of Olympic competition, 
the games will become the beacon of 100 years of goodwill and 
sportsmanship.
  Currently, Olympic coin sales are lagging, and to put it bluntly, 
Congress has authorized too many coins. Today, however, we will allow 
the American public to contribute to the success of 

[[Page H 13945]]
this event by encouraging collectors to purchase United States 1996 
Olympic coins.
  Purchases of Olympic coins provide the public its best chance to 
display support for the U.S. Olympic team and the Atlanta centennial 
Olympic games. In return for its support, the American public gets 
valuable, historic, and sentimental mementos.
  Mr. Speaker, by purchasing Olympic coins, we will allow our athletes 
to go for the gold. To support that goal, four official coins are now 
available as follows:
  First, a gold $5 coin;
  Second, two silver dollars; and
  Third, and one nonprecious half-dollar.
  These are the first of 16 various coins to be issued by the Mint in 
support of the 1996 games. The attractive coins will capture the grace 
of gymnastics, the speed and strength of track and field, and the 
certain excitement of dream team 2 as the United States reaches for 
gold in basketball. I therefore encourage the American public, and my 
colleagues, to embrace this opportunity, and to cherish these symbols 
of peace and sportsmanship. I encourage unanimous support for this 
bill, and I strongly support our Olympic effort in Atlanta next summer.
  Mr. Speaker, I reserve the balance of my time.
  Mr. CASTLE. Mr. Speaker, I yield such time as he may consume to the 
gentleman from Georgia [Mr. Barr].
  Mr. BARR. Mr. Speaker, I want to take a moment to thank Mr. Castle, 
the chairman of the Subcommittee on Domestic and International Monetary 
Policy and his staff for working with me and my staff in moving this 
important legislation to consideration by the full House. I would like 
to recognize the efforts of Mr. Flake and Mr. Frank in support of this 
bill, and would also like to commend the Atlanta Committee on the 
Olympic Games [ACOG] for their hard work on the Olympic Commemorative 
Coin Program and the Olympic games as a whole. ACOG has done the State 
of Georgia proud, in fact the entire country should be proud of their 
efforts and we look forward to the fruits of their labor next summer. 
Mr. Speaker, H.R. 2336 is critical to the continued success of the 1996 
Olympic Commemorative Coin Program.
  As we consider this legislation, I want to make it clear at the 
outset: This legislation does not create a new commemorative coin 
program. Instead it reduces the mintage of an existing program, and 
provides flexibility to the mint to print a greater ratio of the more 
popular general sale coins. When this program was initiated the mintage 
level was set to conduct the most aggressive Olympic Coin Program ever. 
With the reduction in mintage, the program will still be aggressive, 
however we are allowing a greater potential for success.
  H.R. 2336 is supported by the Altanta Committee on the Olympic Games 
[ACOG], the United States Mint, and the numismatic community. In fact, 
by lowering the mintage on the gold and silver coins, ACOG and the U.S. 
Mint have responded to those in the numismatic community who have said 
that the mintage levels are too high. They believe that by lowering the 
mintage levels, the value of the coins will increase and the 
numismatics will take a second look at purchasing these coins.
  In addition, H.R. 2336 would lower the mintage levels for the 1995 
and 1996 clad coins from 10,000,000 to 8,000,000, and would provide the 
mint the flexibility to mint more of the popular clad coins, for 
example basetball and baseball.
  I believe that with this flexibility the general public sales will 
also increase.
  It is important to recognize the 1996 Olympic Coin Program is not in 
trouble or faltering. Sales for the 1995 Olympic coins are strong 
especially in the international community. Unfortunately Olympic coin 
sales to the U.S. numismatic community have not been as good as 
anticipated. With this legislation we expect to build on the well-
established success of the Olympic Coin Program.
  As seen by other legislation before the House this Congress is in the 
process of reigning in and reforming commemorative coin programs. H.R. 
2336 is consistent with those efforts. A successful coin program is 
good for the Federal budget and good for the American taxpayer.
  Again, Mr. Speaker, this legislation makes changes to the Atlanta 
Centennial Olympic Coin Program, and does not create a new 
commemorative coin program. This is very simply a technical change to 
an already existing program.
  Mr. FLAKE. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I wish to commend the gentleman from Texas [Mr. 
Gonzalez], the ranking member of the full Committee on Banking and 
Financial Services, who has spent a great deal of time in giving not 
only support to, but helping to shape this piece of legislation.
  Mr. Speaker, I reserve the balance of my time.
  Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, let me just add that the gentleman from Georgia [Mr. 
Barr] has been tremendously helpful in the formulation of this 
legislation and watching over it very carefully. The gentleman calls me 
constantly on it, and I appreciate that. He kept us on the straight and 
narrow.
  Mr. Speaker, I yield such time as he may consume to the gentleman 
from Georgia [Mr. Norwood], who has been concerned about this 
legislation.
  Mr. NORWOOD. Mr. Speaker, I thank the chairman for yielding me time.
  Mr. Speaker, I feel strongly that we should pass H.R. 2336. The 1996 
Summer Olympic Games in Atlanta is a great event for both my State and 
this Nation, but with this legislation I want to also acknowledge the 
original author of this act, one of my predecessors from Georgia's 10th 
District, Representative Doug Barnard.
  My friend Doug Barnard was first elected in 1978 and served until 
1992 and was a consistent voice for fiscal restraint. He was a boll 
weevil Democrat who served his district and his country well. He 
supports the action that I hope the House will take today in passing 
this legislation.
  All of us in Georgia look forward to hosting the world in 1996 and 
are pleased that there will be U.S.-minted coins to commemorate this 
historic event. I thank my friend Mr. Barr for his diligent work on 
this legislation and I urge its adoption.
  Mr. FLAKE. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I would like to thank the gentleman from Delaware [Mr. 
Castle], the chairman of the committee, for the means by which he has 
brought this bill forward. I think all of us know that the Olympics are 
not only important for America, but they are important for world peace.
  I would also like to thank the gentleman from Georgia [Mr. Barr]. He 
has driven this process extremely well. I thank the gentleman for the 
kind of cooperation that all of our staffs have shared in making sure 
that this particular commemorative coin legislation not only will get 
to the floor, but out of the House.
  More importantly, I think all of us are focused on the Olympics in 
1996, knowing that this is one of the places where we can remove all 
the walls and barriers that separates us, and come together with the 
spirit of peace and love, a spirit of sharing and caring for one 
another.
  Mr. Speaker, I have no further speakers, and I yield back the balance 
of my time.

                              {time}  1445

  Mr. CASTLE. Mr. Speaker, I would like to echo the words of the 
distinguished ranking member of this committee, the gentleman from New 
York [Mr. Flake]. He has been a tremendous pleasure to work with 
throughout my tenure as the chairman of this subcommittee. Hopefully, 
we will have as much peace in the world as we have had in our 
subcommittee in terms of getting things done.
  The gentleman has been very helpful in resolving problems. There was 
a problem here, as was pointed out to us by the two speakers from 
Georgia and other individuals, with the Atlanta Olympic Committee, and 
we recognized it. The sales are strong, but with some changes in 
tailoring in what we were doing, it was felt that we could move ahead. 
We were able to address that, and we did it in a way that will be 
beneficial to everybody, and I am pleased to have the opportunity to be 
here to help present that.
  Mr. LEWIS of Georgia. Mr. Speaker, I would like to thank my colleague 
from Georgia for 

[[Page H 13946]]
the work he has done on this bill. As he has said, it is a simple, 
noncontroversial bill to help the 1996 Olympic games.
  I am proud to represent the city of Atlanta, which will host the 1996 
games. I know many of my colleagues on both sides of the aisle have 
supported this effort. I would like to thank all my colleagues for 
their hard work and their support. I believe that the 1996 Olympics, 
when we celebrate the 100th anniversary of the games, will be the best 
Olympics ever.
  This bill governs the production of commemorative coins for the 1996 
games. These coins will commemorate an Olympics that will highlight the 
best of Atlanta, GA and the United States. We will witness the largest 
coming together in history of people of different nations, religions, 
and heritage. The Olympics not only celebrate athletic accomplishment, 
they celebrate diversity, peace, and our ability to overcome our 
differences and unite as a people. We all can learn something from the 
Olympic message.
  I urge my colleagues' support for H.R. 2336.
  Mr. GONZALEZ. Mr. Speaker, I rise in support of H.R. 2336, 
legislation which amends the Doug Barnard, Jr.--1996 Atlanta Centennial 
Olympic Games Commemorative Coin Act.
  This bill was introduced by Congressman Bob Barr, a member of the 
Banking Committee from the State of Georgia. He is joined today by his 
Democratic and Republican colleagues from the Peach State in 
cosponsoring H.R. 2336, a bill to significantly change the marketing 
strategy for the sale of Olympic commemorative coins. Revenues from the 
sale of these coins will be used to support the Olympic games in 
Atlanta.
  Unfortunately, the projected sale of the coins does not appear to be 
as successful as anticipated when we first considered the Olympic coin 
program. Today we take corrective measures that make good marketing 
sense and should result in a restructured coin program to maximize 
profits for the Olympic Committee.
  I commend the chairman of the Banking Subcommittee on domestic and 
international monetary policy, Chairman Michael Castel, and the ranking 
Democratic member of the subcommittee, Congressman Floyd Flake, for 
their work in bringing this bill to the floor in a timely fashion.
  Mr. CASTLE. Mr. Speaker, I ask for unanimous support for the 
legislation and I yield back the balance of my time.
  The SPEAKER pro tempore (Mr. Everett). The question is on the motion 
offered by the gentleman from Delaware [Mr. Castle], that the House 
suspend the rules and pass the bill, H.R. 2336.
  The question was taken; and (two-thirds having voted in favor 
thereof) the rules were suspended and the bill was passed.
  A motion to reconsider was laid on the table.

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