[Congressional Record Volume 149, Number 7 (Wednesday, January 15, 2003)]
[Senate]
[Page S853]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mrs. FEINSTEIN (for herself and Mrs. Boxer):
  S. 168. A bill to require the Secretary of the Treasury to mint coins 
in commemoration of the San Francisco Old Mint; to the Committee on 
Banking, Housing, and Urban Affairs.
  Mrs. FEINSTEIN. Mr. President, I rise today to join my colleague 
Senator Boxer, to introduce the ``San Francisco Old Mint Commemorative 
Coin Act'' to authorize the United States Mint to issue a commemorative 
coin that will honor the San Francisco Old Mint and help restore this 
historic building in downtown San Francisco.
  The San Francisco Old Mint Building is an important historical 
landmark for San Francisco, the State of California, and the United 
States. Beginning its operations in 1854, the San Francisco Mint was 
established to take advantage of the plentiful gold and silver mined in 
the West during the California Gold Rush. At one point, more than half 
of the money minted in the United States came from the San Francisco 
Mint, and it once held a third of the Nation's gold supply. Today the 
``S'' Mint Mark is found on many rare coins as well as on many new 
proof coin sets.
  The Old Mint Building, located in the heart of the city, has been 
standing for more than 125 years as the oldest stone building in San 
Francisco. It is the Old Mint opened in 1874, it was the largest 
Federal building in the West. Architect Alfred B. Mullet designed this 
building which is listed on the National Register of Historic Places. 
A.B. Mullet is the same architect who designed both the U.S. Treasury 
building and the Old Executive Office Building here in Washington D.C.
  A product of America's ``Gilded Age,'' the Old Mint is 
architecturally reflective of a distinguished line of Greek revival-
style buildings that were soon to be eclipsed by other designs at the 
turn of the century.
  Aided by its magnificent stone structure, the Old Mint Building was 
able to survive the San Francisco earthquake and fire of 1906. In fact, 
the Mint was the only financial instruction that remained operable 
after the earthquake and the building was used as the treasury for the 
city's disaster relief funds.
  The San Francisco Old Mint Building minted coins until 1937 when the 
building became too small and its operations moved to a larger space 
elsewhere in San Francisco. In the years since then, the building has 
deteriorated. In 1994, the Bureau of the Mint closed the Old Mint 
because it could not afford the then-estimated $20 million seismic 
retrofit to bring the building up to code. Since then the building, 
transferred to the General Services Administration, has remained 
closed.
  Now, the San Francisco Museum and Historical Society has proposed an 
exciting project to restore and rejuvenate the Old Mint Building in 
downtown San Francisco. A fine history museum supported by shops, 
restaurants, community office space, a coin shop, and a visitors center 
will combine to make the building a striking and viable destination.
  I am introducing this legislation to honor the history of the San 
Francisco Old Mint and the role it played in rebuilding the great 
``City by the Bay'' after the 1906 Earthquake and Fire. This 
legislation will authorize the Secretary of the Treasury to mint and 
issue 100,000 $5 gold coins and 500,000 $1 silver coins, which will be 
emblematic of the San Francisco Old Mint Building and its importance to 
California and the United States.
  The commemorative coin will also help provide funds for the 
building's restoration. The proceeds generated from the sale of these 
commemorative coins will be paid to the San Francisco Museum and 
Historical Society for the building's rehabilitation.
  The San Francisco Old Mint is venerated by coin collectors as the 
``Granite Lady'' and I believe it is worthy of a commemorative coin. I 
am very pleased to note that the Citizens Commemorative Coin Advisory 
Committee, CCCAC, has agreed and that its members have unanimously 
endorsed this legislation for a 2006 coin, a year that will mark the 
100-year anniversary of the building's survival of the 1906 earthquake 
and fire.
  2006 is also the year the U.S. Mint will issue the California quarter 
and I expect both coins will be attractive to coin collectors. The 
CCCAC's recommendation will be included in its 2002 annual report that 
will be delivered to Congress before the end of this month.
  Collectors, Californians, and millions of Americans hold the San 
Francisco Old Mint in the highest regard as a national treasure. 
Because no other such icon of the numismatic community has been honored 
by the issuance of a commemorative coin, I believe the San Francisco 
Old Mint merits commemoration at this time.
  I believe honoring and restoring the San Francisco Old Mint Building 
is an important historic preservation project. I hope my colleagues 
will join me to support the San Francisco Old Mint Commemorative Coin 
Act to honor the unique and proud history of the ``Granite Lady.''
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