[Congressional Record Volume 151, Number 52 (Tuesday, April 26, 2005)]
[House]
[Pages H2495-H2500]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    PRESIDENTIAL $1 COIN ACT OF 2005

  Mr. CASTLE. Mr. Speaker, I move to suspend the rules and pass the 
bill (H.R. 902) to improve circulation of the $1 coin, create a new 
bullion coin, and for other purposes, as amended.
  The Clerk read as follows:

                                H.R. 902

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

[[Page H2496]]

     SECTION 1. SHORT TITLE.

       This Act may be cited as the ``Presidential $1 Coin Act of 
     2005''.

                     TITLE I--PRESIDENTIAL $1 COINS

     SEC. 101. FINDINGS.

       The Congress finds as follows:
       (1) 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.
       (2) 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.
       (3) The success of the 50 States Commemorative Coin Program 
     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.
       (4) 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.
       (5) 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.
       (6) 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.
       (7) Sacagawea, as currently represented on the new $1 coin, 
     is an important symbol of American history.
       (8) 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.
       (9) First Spouses have not generally been recognized on 
     American coinage.
       (10) 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 ``mint marks'' 
     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 
     ``Golden Age of Coinage'' 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.
       (11) 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.
       (12) 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.
       (13) Bullion coins are a valuable tool for the investor 
     and, in some cases, an important aspect of coin collecting.

     SEC. 102. PRESIDENTIAL $1 COIN PROGRAM.

       Section 5112 of title 31, United States Code, is amended by 
     inserting after subsection (m) the following new subsection:
       ``(n) Redesign and Issuance of Circulating $1 Coins 
     Honoring Each of the Presidents of the United States.--
       ``(1) Redesign beginning in 2007.--
       ``(A) In general.--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 
     (6) shall have designs on the obverse selected in accordance 
     with paragraph (2)(B) which are emblematic of the Presidents 
     of the United States and a design on the reverse selected in 
     accordance with paragraph (2)(A).
       ``(B) Continuity provision.--Notwithstanding subparagraph 
     (A), the Secretary shall continue to mint and issue $1 coins 
     which bear the design on $1 coins being minted and issued 
     before the issuance of coins as required under this 
     subsection.
       ``(2) Design requirements.--The $1 coins issued in 
     accordance with paragraph (1)(A) shall meet the following 
     design requirements:
       ``(A) Coin reverse.--The design on the reverse shall bear--
       ``(i) 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 `2-headed' coin;
       ``(ii) the inscription `$1' ; and
       ``(iii) the inscription `United States of America'.
       ``(B) Coin obverse.--The design on the obverse shall 
     contain the name and likeness of a President of the United 
     States and basic information about the President, including 
     the dates or years of the term of office of such President 
     and a number indicating the order of the period of service in 
     which the President served.
       ``(C) Edge-incused inscriptions.--
       ``(i) In general.--The inscription of the year of minting 
     or issuance of the coin and the inscriptions `E Pluribus 
     Unum' and `In God We Trust' shall be edge-incused into the 
     coin.
       ``(ii) Preservation of distinctive edge.--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.
       ``(D) Inscriptions of `liberty'.--Notwithstanding the 2d 
     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 `Liberty' shall 
     not appear on the coins.
       ``(E) Prohibition on sitting president in series.--No coin 
     issued under this subsection may bear the image of a 
     President who, at the time of issuance, is currently serving 
     as President.
       ``(3) Issuance of coins commemorating presidents.--
       ``(A) Order of issuance.--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.
       ``(B) Treatment of period of service.--
       ``(i) In general.--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.
       ``(ii) Nonconsecutive terms.--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.
       ``(4) Issuance of coins commemorating 4 presidents during 
     each year of the period.--
       ``(A) In general.--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).
       ``(B) Number of 4 circulating coin designs in each year.--
     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).
       ``(5) Issuance of numismatic coins.--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.
       ``(6) Termination of program.--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.
       ``(7) Reversion to preceding design.--Upon the termination 
     of the issuance of coins under this subsection, the design of 
     all $1 coins shall revert to the the so-called `Sacagawea-
     design' $1 coins.''.

     SEC. 103. FIRST SPOUSE BULLION COIN PROGRAM.

       Section 5112 of title 31, United States Code, is amended by 
     inserting after subsection (n) (as added by the preceding 
     section of this title) the following new subsection:
       ``(o) First Spouse Bullion Coin Program.--
       ``(1) In general.--During the same period in which the $1 
     coins are issued under subsection (n) which are emblematic of 
     the Presidents of the United States, the Secretary of the 
     Treasury shall issue bullion coins under this subsection that 
     are emblematic of the spouse of each such President.
       ``(2) Specifications.--The coins issued under this 
     subsection shall--
       ``(A) have the same diameter as the $1 coins described in 
     subsection (n);
       ``(B) weigh 0.5 ounce; and
       ``(C) contain 99.99 percent pure gold.
       ``(3) Design requirements.--
       ``(A) Coin obverse.--The design on the obverse of each coin 
     issued under this subsection shall contain--
       ``(i) the name and likeness of a person who was a spouse of 
     a President during the President's period of service;
       ``(ii) an inscription of the years during which such person 
     was the spouse of a President during the President's period 
     of service; and
       ``(iii) the number indicating the order of the period of 
     service in which such President served.
       ``(B) Coin reverse.--The design on the reverse of each coin 
     issued under this subsection shall bear--
       ``(i) images emblematic of the life and work of the First 
     Spouse whose image is borne on the obverse; and
       ``(ii) the inscription `United States of America'.
       ``(C) Designated denomination.--Each coin issued under this 
     subsection shall bear, on the reverse, an inscription of the 
     nominal denomination of the coin which shall be `$10'.
       ``(D) Design in case of no first spouse.--In the case of 
     any President who served without a spouse--
       ``(i) 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 `Liberty'--

       ``(I) as represented on a United States coin issued during 
     the period of service of such President; or
       ``(II) 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 participate in 
     the election of future Presidents, and who was born on 
     January 11, 1885, during the term of President Arthur; and

       ``(ii) 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.

[[Page H2497]]

       ``(E) Design and coin for each spouse.--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.
       ``(F) Inscriptions.--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.
       ``(4) Sale of bullion coins.--Each bullion coin issued 
     under this subsection shall be sold for an amount the 
     Secretary of the Treasury determines to be appropriate that 
     is equal to or greater than the sum of--
       ``(A) the face value of the coins; and
       ``(B) the cost of designing and issuing the coins 
     (including labor, materials, dies, use of machinery, overhead 
     expenses, marketing, and shipping).
       ``(5) Issuance of coins commemorating first spouses.--
       ``(A) In general.--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 such President.
       ``(B) Maximum number of bullion coins for each design.--The 
     Secretary shall--
       ``(i) 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
       ``(ii) 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.
       ``(C) Termination of program.--No bullion coin may be 
     issued under this subsection after the termination, in 
     accordance with subsection (n)(6), of the $1 coin program 
     established under subsection (n).
       ``(6) Quality of coins.--The bullion coins shall be issued 
     in both proof and uncirculated qualities.
       ``(7) Source of gold bullion.--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. The Secretary shall pay not more than the 
     average world price for the gold.
       ``(8) Bronze medals.--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.''.

     SEC. 104. SENSE OF THE CONGRESS.

       It is the sense of the Congress that--
       (1) the enactment of this Act will serve to increase the 
     use of $1 coins generally, which will increase the 
     circulation of the so-called ``Sacagawea-design'' $1 coins 
     that have been and will continue to be minted and issued;
       (2) the continued minting and issuance of the so-called 
     ``Sacagawea-design'' $1 coins will serve as a lasting tribute 
     to the role of women and Native Americans in the history of 
     the United States;
       (3) while the American tradition of not issuing a coin with 
     the image of a living person has served the country well and 
     deserves to be continued as a general practice, in a series 
     of coins commemorating former Presidents, all former 
     Presidents should be so honored notwithstanding such 
     tradition;
       (4) 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;
       (5) in order for the circulation of $1 coins to achieve 
     maximum potential--
       (A) the coins should be as attractive as possible; and
       (B) 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;
       (6) if the Secretary of the Treasury determines to include 
     on any $1 coin minted under section 5112(n) of title 31, 
     United States Code (as added by 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;
       (7) at such time as the Secretary of Treasury determines to 
     be appropriate, and after consultation with the Board of 
     Governors of the Federal Reserve System and the submission of 
     notice to the Congress, the Secretary should declare to be 
     obsolete any circulating $1 coin that bears the design of the 
     $1 coins being issued immediately before the issuance of 
     coins with the design referred to in section 5112(n)(7) of 
     title 31, United States Code;
       (8) in connection with the introduction of the $1 coins 
     under the Presidential $1 Coin Program--
       (A) the coins should not be introduced with an overly 
     expensive taxpayer-funded public relations campaign; and
       (B) the Director of the United States Mint, a bureau in the 
     Department of the Treasury, should work with consumer groups, 
     media outlets, and schools to ensure an adequate amount of 
     news coverage about the start of the coin program so 
     consumers will know of the availability of the coins;
       (9) the Board of Governors of the Federal Reserve System 
     and the Secretary of the Treasury should take steps to ensure 
     that an adequate supply of $1 coins are available for 
     commerce and collectors at such places and in such quantities 
     as are appropriate by--
       (A) meeting, from time to time but no less frequently than 
     quarterly, with a coin users group that includes 
     representatives of merchants who would benefit from the 
     increased usage of $1 coins, vending machine and other coin 
     acceptor manufacturers, vending machine owners and operators, 
     transit officials, municipal parking officials, depository 
     institutions, coin and currency handlers, armored-car 
     operators, car wash operators, and coin collectors and 
     dealers 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;
       (B) submitting a semiannual report to the Congress 
     containing an assessment of the remaining obstacles to the 
     efficient and timely circulation of coins, and particularly 
     $1 coins, together with such recommendations for legislative 
     action the Board and the Secretary may determine to be 
     appropriate;
       (C) 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 and the so-called 
     ``Sacagawea-design'' $1 coins, and to include notices on the 
     machines and devices of such acceptability;
       (D) ensuring that during an introductory period, all 
     institutions that want unmixed supplies of each newly-issued 
     design of $1 coins are able to obtain such unmixed supplies; 
     and
       (E) consulting with representatives of depository 
     institutions and armored-car operators to support the 
     availability of $1 coins in packaging of sizes and types 
     appropriate for and useful to ordinary commerce, including 
     rolled coins; and
       (10) the Director of the United States Mint should take all 
     steps necessary to expand the marketplace for bullion coins, 
     and reduce barriers to the sale of bullion coins, by ensuring 
     that--
       (A) the greatest number possible of reputable, reliable, 
     and responsible dealers are qualified to offer for sale all 
     bullion coins struck and issued by the United States Mint; 
     and
       (B) all such dealers and their customers have equal and 
     timely access to all new issues of such bullion coins.

      TITLE II--ABRAHAM LINCOLN BICENTENNIAL 1-CENT COIN REDESIGN

     SEC. 201. FINDINGS.

       The Congress finds as follows:
       (1) 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.
       (2) 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.
       (3) With the belief that all men are created equal, Abraham 
     Lincoln led the effort to free all slaves in the United 
     States.
       (4) Abraham Lincoln had a generous heart, with malice 
     toward none and with charity for all.
       (5) Abraham Lincoln gave the ultimate sacrifice for the 
     country he loved, dying from an assassin's bullet on April 
     15, 1865.
       (6) All Americans could benefit from studying the life of 
     Abraham Lincoln, for Lincoln's life is a model for 
     accomplishing the ``American dream'' through honesty, 
     integrity, loyalty, and a lifetime of education.
       (7) The year 2009 will be the bicentennial anniversary of 
     the birth of Abraham Lincoln.
       (8) Abraham Lincoln was born in Kentucky, grew to adulthood 
     in Indiana, achieved fame in Illinois, and led the nation in 
     Washington, D.C.
       (9) The so-called ``Lincoln cent'' was introduced in 1909 
     on the 100th anniversary of Lincoln's birth, making the 
     obverse design the most enduring on the nation's coinage.
       (10) 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.
       (11) In the nearly 100 years of production of the ``Lincoln 
     cent'', 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.
       (12) 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.

     SEC. 202. REDESIGN OF LINCOLN CENT FOR 2009.

       (a) In General.--During the year 2009, the Secretary of the 
     Treasury shall issue 1-cent coins in accordance with the 
     following design specifications:
       (1) Obverse.--The obverse of the 1-cent coin shall continue 
     to bear the Victor David Brenner likeness of President 
     Abraham Lincoln.
       (2) Reverse.--The reverse of the coins shall bear 4 
     different designs each representing a different aspect of the 
     life of Abraham Lincoln, such as--
       (A) his birth and early childhood in Kentucky;
       (B) his formative years in Indiana;
       (C) his professional life in Illinois; and
       (D) his presidency, in Washington, D.C.
       (b) Issuance of Redesigned Lincoln Cents in 2009.--
       (1) Order.--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.
       (2) Number.--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.

[[Page H2498]]

       (c) Design Selection.--The designs for the coins specified 
     in this section shall be chosen by the Secretary--
       (1) after consultation with the Abraham Lincoln 
     Bicentennial Commission and the Commission of Fine Arts; and
       (2) after review by the Citizens Coinage Advisory 
     Committee.

     SEC. 203. REDESIGN OF REVERSE OF 1-CENT COINS AFTER 2009.

       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.

     SEC. 204. NUMISMATIC PENNIES WITH THE SAME METALLIC CONTENT 
                   AS THE 1909 PENNY.

       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

     SEC. 205. SENSE OF THE CONGRESS.

       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.

  The SPEAKER pro tempore. Pursuant to the rule, the gentleman from 
Delaware (Mr. Castle) and the gentlewoman from New York (Mrs. Maloney) 
each will control 20 minutes.
  The Chair recognizes the gentleman from Delaware (Mr. Castle).


                             General Leave

  Mr. CASTLE. Mr. Speaker, I ask unanimous consent that all Members may 
have 5 legislative days within which to revise and extend their remarks 
on this legislation and to include extraneous material thereon.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Delaware?
  There was no objection.
  Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume.
  I am pleased that the House will consider today the Presidential $1 
Coin Act of 2005 I authored with the gentlewoman from New York (Mrs. 
Maloney). This legislation honors each U.S. President by placing him on 
the obverse side of the $1 coin on a rotating basis. By doing so it 
aims to improve circulation of the $1 coin, which will lower costs to 
businesses and thus restrain price increases. I believe this program is 
a great opportunity for educating both children and adults about the 
history of our country. In addition, although it is not the goal of the 
program, these new coins will likely generate as much as $5 billion for 
the government.
  Concurrently with this program, the current Sacagawea coin will also 
be minted. I am pleased that we were able to work with the gentleman 
from North Dakota (Mr. Pomeroy) to address his concerns and continue 
the Sacagawea program, which will now hopefully be stronger than ever.
  In many ways this legislation is modeled after the successful ``50 
State Quarter Program.'' The 50 State Quarter Program, which I was also 
proud to have authored, issues five quarters a year bearing images 
connected with one of the States, so that over a decade each State will 
have been honored. Before the State quarter program started, the U.S. 
Mint was making about 400 million quarters a year, but in the first 
year of the 50 State Quarter Program it minted approximately 1.2 
billion quarters. The Mint estimates that one person in each household 
is collecting the quarters and they are collecting a full set, not just 
their own State. According to the most recent numbers from the Mint, 
nearly $5 billion worth of savings have been created for the Federal 
Government.
  It is important to note that this program is likely to be more 
accepted by the public than previous dollar coin programs. In a 2002 
General Accounting Office report to Congress, 25 percent of respondents 
stated that they would use the dollar coin for more purchases if there 
was a rotating design similar to the 50 State Quarter Program. 
Additionally, nearly 50 percent of respondents stated they would 
collect the new coin if it featured a changing design. And 69 percent 
of respondents favored U.S. Presidents as the choice for the new 
rotating design on the dollar coin.
  Under the program, the images on the front and back of the coin 
temporarily would be replaced beginning in 2007 with images of the 
United States Presidents. Four Presidents a year would be honored, in 
the order of their service, with a likeness of the President, his name 
and dates of service, and a number signifying the order in which he 
served, on the front of the coin. The image on the reverse would be 
that of the Statue of Liberty, large enough to be dramatic but not so 
large as to create a so-called ``two-headed'' coin. The date, Mint 
mark, and other important mottos on the coin would be on the edge of 
the coin, leaving room on the faces for more dramatic artwork.
  Working through concerns, the gentlewoman from New York (Mrs. Kelly) 
and the gentleman from Ohio (Mr. Ney) raised last year, there is 
language that was drafted in consultation with the National Federation 
of the Blind to ensure seeing-impaired individuals would be able to 
distinguish the dollar coin from a quarter.
  The educational aspects of this program are obvious. We all know 
George Washington was the first President, but how many can tell the 
exact dates of his service to the country? How about the dates of 
service of the famous Civil War General Ulysses S. Grant, who later 
became President? And how many in this Chamber can name the only 
President who would end up with two coins in the series because he 
served twice, in terms separated by another President's term?
  This legislation also seeks to honor the First Spouses by creating a 
nearly pure-gold investment-grade bullion coin, the same diameter as 
the dollar coin, and half an ounce in weight, honoring the First 
Spouses who have done so much for our country. The U.S. Mint will also 
be able to make bronze medal replicas of the First Spouse gold bullion 
coin. This will enable school children and ordinary citizens an 
affordable option for collecting the First Spouse series. These bronze 
medal replicas will cost just a few dollars.
  For the First Spouse coin, the obverse, as for the Presidential 
coins, would be the likeness of the spouse, terms of service, and the 
order in which they served. On the reverse would be images emblematic 
of the spouse's works. In the five instances to date in which 
Presidents had no spouses while in office, the educational part again, 
the bill calls for the image on the front of the coin to be that of an 
image, that of ``Liberty,'' as used on a U.S. coin circulating that 
President's term, and the reverse of the coin to carry images related 
to the President's term.

                              {time}  1545

  During President Chester Arthur's term, the image of Liberty would be 
represented by Alice Paul, a leading figure in the women's suffrage 
movement, who was born during Arthur's term. Other Presidents, such as 
President Wilson, have had more than one spouse while in office due to 
the death of a spouse and subsequent remarriage while still in office.
  Finally, this legislation includes H.R. 767 as a second title. This 
legislation, introduced by the gentleman from Illinois (Mr. LaHood) and 
the gentleman from Illinois (Mr. Jackson) and cosponsored by the entire 
Illinois delegation, will redesign the Lincoln penny in 2009 in 
celebration of the 200th anniversary of President Lincoln's birth. The 
redesign will feature four designs, each representing a different 
aspect of his life: first, his birth and early childhood in Kentucky; 
second, his formative years in Indiana; third, his professional life in 
Illinois; and, finally, his Presidency in Washington, DC.
  Mr. Speaker, I would like to thank the gentlewoman from New York 
(Mrs. Maloney) for her work on this legislation, indeed there was a 
great deal of work, as well as the gentleman from Ohio (Chairman Oxley) 
and the ranking member, the gentleman from Massachusetts (Mr. Frank), 
for their support.
  I urge my colleagues to support this fun and educational program.
  Mr. Speaker, I reserve the balance of my time.
  Mrs. MALONEY. Mr. Speaker, I yield myself such time as I may consume.
  Mr. Speaker, I rise in support of the bill that the gentleman from 
Delaware (Mr. Castle) and I have offered that is a win-win for 
taxpayers and the economy.
  The Presidential Dollar Coin Act builds on the remarkable success of 
the 50 State Quarter Act of the gentleman from Delaware (Mr. Castle), 
which is well into its 10-year run and has earned

[[Page H2499]]

praise from educators and coin collectors and benefited the Treasury. 
My daughters, like many young people across America, enjoy collecting 
this popular coin.
  Like the State quarter bill, the Presidential dollar coin will 
educate Americans about our Presidents and our first ladies while 
making money for the taxpayers. In addition, this bill will encourage 
use of the Sacagawea dollar coin, which will continue to be issued 
throughout the program and will be the sole U.S. dollar coin after the 
program ends. Thanks to discussions with the gentleman from North 
Dakota (Mr. Pomeroy), Indian tribal chiefs and women's groups, the 
provisions of the bill relating to the Sacagawea dollar coin have been 
clarified and strengthened to assure that Sacagawea, the only woman on 
our currency at this present moment, will continue to be honored on the 
dollar coin.
  In a similar vein, the bill also provides for commemorative coins 
honoring each first lady to be issued during the period that their 
husbands were President. These will be issued both as gold bullion 
collectors' items and also in a bronze version, making them more 
accessible to school children and the public.
  I am particularly pleased that the bill provides for a coin to be 
issued in honor of the noted suffragette Alice Paul at the same time as 
the coin commemorating President Chester Arthur, who served without a 
spouse. As a New Yorker, I am particularly pleased that Lady Liberty, 
the international symbol of the United States, will be on the back of 
the coin.
  The General Accounting Office has estimated that general use of 
dollar coins could save the government as much as $500 million per year 
because they last longer than the dollar bill. Boosting usage of the 
dollar coin in everyday commerce also helps small businesses and 
provides consumers with faster and better service.
  At the halfway point of issuance, the 50-State Quarter program had 
made the government over $4 billion primarily from collectors taking 
the coins out of circulation so that the Federal Reserve then buys more 
from the Mint. We have similar expectations for the effect of 
individuals collecting the dollar coins.
  This bill earns money for the government, benefits small businesses 
and consumers, educates all users of American currency about their 
Presidents and first ladies, and encourages wider use of the Sacagawea 
dollar coin. I would call that a bill that deserves our full support.
  I particularly want to thank the gentleman from Delaware (Mr. Castle) 
for his work, not only on the quarter coin, which has been a huge 
success for our school children and our Nation and helped our economy, 
but his leadership and constant work on this bill, along with the 
gentleman from Ohio (Chairman Oxley) and the ranking member, the 
gentleman from Massachusetts (Mr. Frank).
  I particularly thank Joe Pinder of the committee staff, who is really 
an expert on coins and has put a great deal of time and effort on this, 
along with Emily Pfeiffer from the staff of the gentleman from Delaware 
(Mr. Castle) and Eleni Constantin, my financial services counsel.
  Mr. Speaker, I hope that this will pass overwhelmingly and be 
circulating soon.
  Mr. Speaker, I yield such time as he may consume to the gentleman 
from North Dakota (Mr. Pomeroy).
  Mr. POMEROY. Mr. Speaker, I thank the gentlewoman for yielding me 
time, and I am rising today in support of H.R. 902. I congratulate the 
gentleman from Delaware and the gentlewoman from New York (Mrs. 
Maloney) for having worked long and hard on this legislation.
  In a Chamber where we find so much to fight about, you might think 
that a dollar coin commemorating former Presidents would be the 
ultimate no-brainer; but believe me, I had very deep troubles with this 
legislation. You see, I represent the State of North Dakota, home of 
Sacagawea, as we say in Hidatsa, Sacagawea as she is known in the 
Shoshone language. This coin, the Presidential coin, will come in 
addition to the existing dollar coin which bears the likeness of 
Sacagawea.
  This occurs at a time when we are recognizing the 200th anniversary 
of the Lewis and Clark Expedition and commemorating, in accordance with 
that remembrance, the role Sacagawea had in this very important 
expedition.
  The State of North Dakota feels very deeply about Sacagawea and about 
her role in U.S. history. We commemorated not long ago our second 
statue in Statuary Hall in Sacagawea's likeness. We were concerned that 
the move to the Presidential coin would somehow phase out the Sacagawea 
coin or relegate this one coin to history and obscurity. We thought 
that was not the time to do it, not in the bicentennial of the Lewis 
and Clark Expedition, not this coin that recognizes the contributions 
Native American people have made in our history, not the coin that 
recognizes the role women have played in the history of our country.
  So with all of these concerns, I sat down and began my discussions 
with the gentleman from Delaware (Mr. Castle) and also many discussions 
with my friend, the gentlewoman from New York (Mrs. Maloney).
  I am very pleased to say that this was one experience where rather 
than just being rebuffed with ``forget about your concerns, we have got 
the votes so we are going to run this,'' there was actual, very sincere 
listening to our concerns that Sacagawea continue in the coinage of our 
country. There were sincere efforts to address the issues that we were 
raising, and let me just cite a couple of them:
  First, that the Presidential coins start at the conclusion of the 
bicentennial observation of the Lewis and Clark Expedition. In 
addition, that any improvements to the coin to advance the Presidential 
coins would also be applied to the Sacagawea coin. Specifically, here 
we are talking about making a coin that will work in vending machines, 
that has the gold color, yet is not so subject to tarnishing as the 
existing rendition of the Sacagawea coin.
  I think that the bill, as a result of the changes made by the 
constructive dialogue we were able to maintain, is a better bill; and I 
am just deeply grateful that on this issue, maybe not of great national 
importance to many, but of very real importance to me and the people I 
represent, you paid attention to our concerns, addressed them and came 
up with what I believe is an acceptable compromise. Maybe we can take 
this example and export it to other issues before us.
  I am deeply grateful to the gentleman from Delaware (Mr. Castle). By 
golly, when the gentleman gets an idea, he just does not let it drop. I 
was hoping the gentleman would wear out on this one; but, no, he kept 
pushing, and here we are today and we are going to pass it and are 
going to pass it with my vote.
  So I commend the gentleman from Delaware (Mr. Castle), I commend the 
gentlewoman from New York (Mrs. Maloney), and I thank them once again 
for the opportunity to work with them on this legislation.
  Mrs. MALONEY. Mr. Speaker, I yield myself such time as I may consume 
to thank the gentleman from North Dakota (Mr. Pomeroy) for his constant 
work on this bill and his support. We are very grateful. I believe the 
gentleman's input has made it a stronger bill.
  Mr. Speaker, I yield back my time.
  Mr. CASTLE. Mr. Speaker, I yield myself such time as I may consume.
  First, as a comment to the gentleman from North Dakota (Mr. Pomeroy), 
he is tenacious, to say the least. We have been going through this with 
the gentlewoman from New York (Mrs. Maloney) for a year, or something 
of that nature, addressing a variety of issues.
  Obviously, none of us wanted to see the Sacagawea coin not come back 
or fail or whatever. It will be continued, and I think it is our mutual 
hope that this program will accelerate the usage of these coins, and 
therefore it is going to be a coin when it does come back in full-blown 
issuance after all the Presidential coins are gone that will be used a 
heck of a lot more than it is now. So hopefully it is a win-win 
situation that we ended up with.
  I thank the gentleman. It was all amiable, maybe a little frustrating 
at times, but all amiable.
  Mr. Speaker, I cannot thank my cosponsor enough. She has also been 
tenacious in this, dealing with her side of the aisle when there were 
complications, smoothing those things over, plotting with me to get 
this done,

[[Page H2500]]

which we had to do from time to time. It has been a great pleasure to 
work with the gentlewoman from New York (Mrs. Maloney) on this as well.
  I would like to thank all the staff who worked on this legislation. 
It does seem like a relatively simple bill, but it is a little more 
complicated than one might think; and there was a lot of staff 
involvement. Obviously, Emily Pfeiffer on my staff I thank 
particularly, and Joe Pinder is truly an expert on coinage. I think he 
dreams about these coins and constantly he would come up with things I 
had not thought of, usually which we had to overcome in some way or 
another. But his institutional knowledge of coinage in the United 
States, which may not be exceeded in this country, is of extraordinary 
value to all of us as we deal with legislation such as that.
  So we are pleased to be here. We think this is obviously very good 
legislation for a whole variety of reasons, every bit, hopefully, as 
good as the quarter legislation turned out to be.
  Mr. OXLEY. Mr. Speaker, I rise today in strong support of H.R. 902, 
the ``Presidential $1 Coin Act of 2005,'' that the gentleman from 
Delaware, Mr. Castle, has written.
  The dollar coin has the potential to save consumers and business 
billions of dollars if it is available for the niche population that 
has need of it. However, for number of reasons the so-called ``golden'' 
dollar coin never has achieved the success it should have when it was 
introduced in 2000. I think the Castle bill addresses all of those, 
creating a demand for the coin rather than trying to force it into 
circulation. I like the educational opportunities the coin presents, 
and I particularly like that the bill would put the Statue of Liberty 
on the reverse of the coin. Mr. Castle isn't going to say this, but I 
will: In 1997, when Congress approved the original Golden Dollar 
program, the legislation left the House with more than 400 votes to put 
the Statue of Liberty on the coin. Somehow, before it got to the 
President, that important symbol disappeared. Especially after 9/11, I 
think all of us believe that having Lady Liberty on our currency will 
be terrific.
  Mr. Speaker, H.R. 902, introduced by Mr. Castle for himself and Mrs. 
Maloney, seeks to improve demand for and thus circulation of the 
current one-dollar coin, with the intent of saving money for business 
and thus restraining price increases for consumers.
  The legislation directs the Secretary of the Treasury to redesign the 
new ``golden'' one-dollar coin, beginning in 2007, issuing four 
different designs a year. Each design would depict the image and 
pertinent information about a President of the United States, in order 
of service, on the front. The reverse of the coin would depict an image 
of the Statue of Liberty.
  Additionally, the legislation directs the Treasury Secretary to begin 
issuing, concurrently with the Presidential dollars, pure-gold 
``bullion'' coins honoring and depicting the First Spouses. The bill 
also allows striking of an inexpensive bronze copy of the Spouse coin 
so that schoolchildren could collect affordable President-and-First 
Spouse sets, and proposes a number of methods to increase the 
circulation of the dollar coin.
  Essentially similar legislation passed both subcommittee and full 
committee last year. Changes to this version include moving the 
starting date back one year, to 2007, and explicit guarantees that the 
so-called ``Sacagawea'' design currently being minted and issued, will 
continue to be minted and issued during the life of the Presidential 
Dollar program, as well as becoming the sole design after the end of 
that program.
  Finally the legislation incorporates as a separate title the text of 
H.R. 767, introduced by Mr. LaHood for himself and Mr. Jackson, which 
calls for a temporary redesign of the reverse of the one-cent coin in 
2009 honoring the bicentennial of the birth of President Abraham 
Lincoln.
  With that, I urge unanimous support for H.R. 902.
  Mr. CASTLE. Mr. Speaker, I yield back the balance of my time.
  The SPEAKER pro tempore (Mr. Boozman). 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. 902, as amended.
  The question was taken.
  The SPEAKER pro tempore. In the opinion of the Chair, two-thirds of 
those present have voted in the affirmative.
  Mr. CASTLE. Mr. Speaker, on that I demand the yeas and nays.
  The yeas and nays were ordered.
  The SPEAKER pro tempore. Pursuant to clause 8 of rule XX and the 
Chair's prior announcement, further proceedings on this motion will be 
postponed.

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