[Congressional Record Volume 151, Number 147 (Tuesday, November 8, 2005)]
[House]
[Pages H9971-H9974]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SAN FRANCISCO OLD MINT COMMEMORATIVE COIN ACT
Mrs. KELLY. Mr. Speaker, I move to suspend the rules and pass the
bill (H.R. 1953) to require the Secretary of the Treasury to mint coins
in commemoration of the Old Mint at San Francisco, otherwise known as
the ``Granite Lady'', and for other purposes, as amended.
The Clerk read as follows:
H.R. 1953
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 ``San Francisco Old Mint
Commemorative Coin Act''.
SEC. 2. FINDINGS.
The Congress hereby finds as follows:
(1) The Granite Lady played an important role in the
history of the Nation.
(2) The San Francisco Mint was established pursuant to an
Act of Congress of July 3, 1852, to convert miners' gold from
the California gold rush into coins.
(3) The San Francisco Old Mint Building was designed by
architect A.B. Mullett, who also designed the United States
Treasury Building and the Old Executive Office Building.
(4) The solid construction of the Granite Lady enabled it
to survive the 1906 San Francisco earthquake and fire, making
it the only financial institution that was able to operate
immediately after the earthquake as the treasury for disaster
relief funds for the city of San Francisco.
(5) Coins struck at the San Francisco Old Mint are
distinguished by the ``S'' mint mark.
(6) The San Francisco Old Mint is famous for having struck
many rare, legendary issues, such as the 1870-S $3 coin,
which is valued today at well over $1,000,000, and the 1894-S
dime which is comparatively rare.
(7) The San Francisco Old Mint Commemorative Coin will be
the first commemorative coin to honor a United States mint.
SEC. 3. COIN SPECIFICATIONS.
(a) Denominations.--Notwithstanding any other provision of
law, and in commemoration of the San Francisco Old Mint, the
Secretary of the Treasury (hereafter in this Act referred to
as the ``Secretary'') shall mint and issue the following
coins:
(1) $5 gold coins.--Not more than 100,000 $5 coins, which
shall--
(A) weigh 8.359 grams;
(B) have a diameter of 0.850 inches; and
(C) contain 90 percent gold and 10 percent alloy.
(2) $1 silver coins.--Not more than 500,000 $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.
(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.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be emblematic of the San Francisco Old Mint
Building, its importance to California and the history of the
United States, and its role in rebuilding San Francisco after
the 1906 earthquake and fire.
[[Page H9972]]
(2) Designation 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 ``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 the Board of the San Francisco
Museum and Historical Society; and
(2) 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 Facility.--The coins authorized under this Act
shall be struck at the San Francisco Mint to the greatest
extent possible.
(c) Period for Issuance.--The Secretary may issue coins
minted under this Act only during the 1-year period beginning
on January 1, 2006.
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.
(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 San Francisco Museum
and Historical Society for use for the purposes of
rehabilitating the Historic Old Mint in San Francisco as a
city museum and an American Coin and Gold Rush Museum.
(c) Audits.--The San Francisco Museum and Historical
Society 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 the Fund 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.
SEC. 8. TECHNICAL CORRECTION.
Notwithstanding the fifth sentence of section 5112(d)(1) of
title 31, United States Code, the Secretary of the Treasury
may continue to issue, after December 31, 2005, numismatic
items that contain 5-cent coins minted in the years 2004 and
2005.
The SPEAKER pro tempore. Pursuant to the rule, the gentlewoman from
New York (Mrs. Kelly) and the gentlewoman from New York (Mrs. Maloney)
each will control 20 minutes.
The Chair recognizes the gentlewoman from New York (Mrs. Kelly).
Mrs. KELLY. Mr. Speaker, I yield myself such time as I may consume.
Mr. Speaker, I rise today in strong support of H.R. 1953, the San
Francisco Old Mint Commemorative Coin Act. This legislation, which I
and two-thirds of this House have cosponsored, will recognize the
unique contribution to American history of the Old San Francisco Mint
by authorizing 100,000 gold half eagles and 500,000 silver dollars to
be struck to raise funds to preserve this facility.
The San Francisco Mint was authorized by Congress in 1852 to convert
Gold Rush bullion into coins for our growing economy. This landmark
facility was one of the only public buildings to survive the 1906 San
Francisco earthquake and become a rebuilding center and symbol of the
city's recovery. Just 9 years after the earthquake in San Francisco,
the San Francisco Mint struck the coins for the 1915 Panama Pacific
Exposition celebrating the rebirth of San Francisco and the opening of
the Panama Canal.
{time} 1045
These coins include the celebrated 50-dollar commemorative gold
pieces, the largest denomination commemorative coins ever struck in
this country, as well as the only hexagonal coin ever struck in this
country.
The design of the coins authorized under this act will join the
Panama Pacific Coins and other famous coins struck at the Old San
Francisco Mint as monuments to coin design and the history of our
Nation.
I urge the Members of the House to join me in supporting this
legislation.
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 am delighted to manage debate on Leader Pelosi's bill
for the Democratic side. Since the bill has over 291 bipartisan co-
sponsors, my task is a pleasure.
This bill commemorates the historic San Francisco Old Mint Building
which housed the San Francisco Mint from 1874 to 1937 and is a national
historic landmark.
The San Francisco Mint was established in the 1850s because it did
not make sense to transport the gold being produced by the California
Gold Rush all the way to Philadelphia for coinage. Called the ``Granite
Lady,'' the building was designed by A.B. Mullet, the architect of the
two buildings that flank the White House, the U.S. Treasury Building
and the Old Executive Office Building. In fact, the Old Mint looks
quite a bit like our Treasury Building.
The Granite Lady survived both the earthquake and fire of 1906 and
served as the treasury for the disaster relief funds afterwards since
no other financial institution was operational. The Mint outgrew the
building by 1937 and moved to a new facility.
Today, the San Francisco Mint only produces commemorative coins, so
if you find a circulating coin with the S for San Francisco on it, it
is a curiosity and a collector's item.
The Granite Lady is now owned by the City of San Francisco which is
converting it to a museum. I find it particularly appropriate that we
are honoring this landmark with a commemorative coin 100 years after
the great fire. The bill requires the Treasury Department to mint and
issue gold and silver coins in 2006 only. To the extent possible, they
are to be minted at the San Francisco Mint. The profit from the sales
of the coins is to be given to the San Francisco Museum and Historical
Society to convert the old building into a museum which will house
exhibits on the Gold Rush and coinage, among other important city
themes.
I note that in a bipartisan spirit, at the request of the
administration, the bill corrects a technical problem so as to ensure
that collectable coin sets including nickel coins can be available to
collectors beyond the original period which was mistakenly limited. The
Senate has informed us they have no objection to this addition.
Mr. Speaker, I yield such time as she may consume to the gentlewoman
from California (Ms. Pelosi), the sponsor of this bill and the House
Democratic leader.
Ms. PELOSI. Mr. Speaker, I thank the gentlewoman for yielding and for
her leadership on this bill which is so important to the City of San
Francisco but, more importantly, to our country because it is part of
our country's history.
I want to extend my gratitude as well to my colleagues on the
Republican side of the aisle who have made this a very bipartisan
effort. As was indicated by the gentlewoman from New York, we have 291
co-sponsors. That is why we were able to come to the floor. I thank
Members so much for their help.
I am proud to rise in support of the San Francisco Old Mint
Commemorative Coin Act, my bill to authorize the issuance of
commemorative coins in 2006 honoring San Francisco's Old Mint. As you
know, Mr. Speaker, that was the year of the great earthquake in
California, so the history is very meaningful to our area. H.R. 1953
will help ensure that this building exists for many generations to
come.
Congress established the San Francisco Old Mint, as others have
referenced, in 1852. This was immediately following the Gold Rush in
1849, and it
[[Page H9973]]
was affectionately known as the Granite Lady.
The Mint is the oldest stone structure in San Francisco. Its
architect, A.B. Mullet, also designed the United States Treasury
Building, and we all know how beautiful that is, and the Old Executive
Office Building here in Washington, D.C.
In 1906, disaster struck the City of San Francisco in the great
earthquake of that year; and next year will be the 100th anniversary of
the earthquake that leveled much of San Francisco. With infrastructure
destroyed and lines of communication severed, the city was unable to
respond when a subsequent fire spread to anything that would burn. The
blaze raged for more than 3 days and destroyed more than 28,000
buildings. More than 3,000 people died and more than 225,000 lost their
homes. This was a huge number considering the population of San
Francisco at the time.
Yet, as much of the city crumbled in one of the worst natural
disasters in our Nation's history, the Granite Lady stood strong.
Mullet's architecture let the Mint float on its foundation, allowing it
to survive the earthquake and the fire. Treasury Department employees
worked with the United States Army with only one hose connected to two
wells on the property to save this building and the $200 million in
gold that was stored in its vaults. It was the only functional
financial institution after the quake in San Francisco and was used as
a relief fund treasury. The coin's 2006 issuance, 100 years later, will
honor the Mint and its role in San Francisco's recovery.
The Old Mint operated until 1937. It played a pivotal role in the
completion of the Transcontinental Railroad and the economic
development of the western United States. At one time, the Granite Lady
produced more than half of the United States coinage; and by 1934 it
held a third of the Nation's gold supply. The Mint produced many rare
coins, some worth more than $1 million, Mr. Speaker. Coins minted in
San Francisco bear the S mint mark, which is very significant.
In 1961, the Mint was designated a National Historic Landmark but
slowly fell into disrepair, to be closed in 1994 due to structural
concerns. Since that time, I have worked with our two senators, Senator
Feinstein and Senator Boxer, to give the recognition to the Old Mint,
the Granite Lady, that she deserved.
The National Trust For Historic Preservation lists the Mint as one of
the most endangered American structures. Today, with this bill, we can
help declare the Old Mint endangered no longer.
The American Numismatic Association has partnered with the City of
San Francisco and the City of San Francisco Museum and Historical
Society to establish a special coin museum. When completed, the Mint
will be one of the Nation's largest museums devoted to telling the
story of our country's coinage from colonial times up to the present.
Along with our rich history comes a responsibility to preserve and
protect it for future generations.
I am very, very proud of the history that the Old Mint, the Old
Granite Lady, represents. It is about the founding of our city in San
Francisco in Gold Rush times. The Mint almost corresponds to that date,
and it has been part of our history and that of our country ever since.
I urge my colleagues to join us in commemorating the 100th anniversary
of the 1906 earthquake and fire and to honor the landmark of national
significance with a vote for H.R. 1953.
Again, I thank our colleagues, both Democrats and Republicans, for
their cooperation on this bill which is very important to our country's
history.
Mrs. MALONEY. Mr. Speaker, I yield such time as he may consume to the
gentleman from California (Mr. Lantos).
Mr. LANTOS. Mr. Speaker, I want to thank my good friend and colleague
from New York for yielding me time. I would like to pay special tribute
to the Democratic leader, Ms. Pelosi, for offering this bill. I have
the great privilege of representing the City of San Francisco along
with Ms. Pelosi.
Mr. Speaker, during the Gold Rush of 1848, so much precious metal was
found in Northern California that the United States was compelled to
build a mint in order to melt the gold into coins for ease of
transportation across the United States. The construction of our Mint
in San Francisco was authorized in 1852, and it was completed just 2
years later. But soon the Mint outgrew its humble beginnings, and in
1874 a new building was erected in the style of an ancient Greek
temple.
The walls of stone would allow the Mint to withstand one of the most
devastating earthquakes the United States has ever experienced. On
April 18, 1906, at 5:12 in the morning, San Francisco woke to the earth
shaking like never before. The Old Mint was one of the only buildings
left standing and the only financial institution that could still
operate. The Old Mint became a refugee village and distributed aid to
those who had lost everything.
As fire devastated the city, the Old Mint was saved by the quick and
courageous work of the San Francisco Fire Department, a tradition the
San Francisco Fire Department has maintained throughout its long and
distinguished history. Like San Francisco, the Old Mint quickly rebuilt
itself from the devastation of the 1906 earthquake; and, by 1934, the
Old Mint had housed one-third of all gold and coin money for many
nations, ranging from Japan and China to the Philippines and most
nations of Latin America.
In 1937, the San Francisco Mint moved to its current facility, but
the Old Mint remained under the Department of the Treasury until 1957,
and the magnificent structure lay in proverbial mothballs until 1973
when the San Francisco Historic Society started renovations on the Old
Mint to restore it to its previous grandeur.
Mr. Speaker, I am proud to be a co-sponsor and strong supporter of
this important legislation that would allow the Old Mint to become a
museum, showcasing the importance of the Mint in the history of the
City of San Francisco. I encourage all of my colleagues to vote in
favor of this legislation.
Mr. OXLEY. Mr. Speaker, I rise today in support of H.R. 1953, the
``San Francisco Old Mint Commemorative Coin Act,'' introduced by the
gentlelady from California, and urge its immediate passage.
It is often said that coins tell the history of a country, and of the
world. If this is so, Mr. Speaker, mint facilities tell the history of
coins, from the most modern mass-production mints such as the United
States Mint plants in Denver and Philadelphia, back to the earliest
mint, thought to be in the Kingdom of Lydia, which is modern-day
Turkey. Greeks living there began using a system of weights for trade
in 2,500 B.C. But in 700 B.C. merchants started making punch marks on
lumps of metal so they could trade without weighing the metal for each
transaction.
Mr. Speaker, if you were to pick one mint to focus on to understand
the history of coins in this country, it would probably be the San
Francisco Old Mint.
The Old Mint at San Francisco, known as the Granite Lady, has seen
130 years of this country's history, from the day it opened in 1874
until its official closing as a production mint in 1937, and
subsequently as offices for the United States Mint. More recently
during a roughly 20-year span it was a Treasury-operated coinage
museum--starting with a Nixon-era renovation and ending in the mid-'90s
because of cost concerns mostly related to upgrades that would be
needed to withstand earthquakes.
Mr. Speaker, this is the second U.S. Mint production facility built
in San Francisco, the first having been built in 1852, right after the
great California gold rush of '49, and the third being the one that
operates there today. The Old Mint, known as the Granite Lady, was
designed by the architect A.B. Mullett, who also designed the Treasury
Department's headquarters and the Old Executive Office Building here in
Washington. At one point, the building made half of the circulating
coins produced in the U.S., and held a third of the Treasury's gold
reserves.
But perhaps the most notable point in its history and one to which
many of us can relate today, came after the Great San Francisco
Earthquake of April 18, 1906, and the fires that followed. The Granite
Lady was saved from the raging fire by Treasury Department employees
and the U.S. Army with a single, one-inch hose, saving the equipment
and $200 million worth of gold inside. With all of the city's banks
destroyed, the Mint building became the city's financial center. The
building became the holder and disburser of the relief fund formed for
the city, was the only point of payment to and from the city, and made
all of the payments into the city. With memories of the recent
hurricanes on our mind, I'm sure we can all imagine how important the
Granite Lady was to the rebuilding of San Francisco.
[[Page H9974]]
The commemorative coins that would be issued under this legislation
would be available next year, in suitable recognition of the 100th
anniversary of that event.
The history of the building since it ceased being a Mint facility is
less glorious. While operating as a museum, it was damaged by at least
one earthquake, in 1989, and was said to be too expensive an operation
for Treasury to keep open. It finally closed in 1995, with its exhibits
sent off to other museums or back to those who had lent them.
Now, a new project to earthquake-proof the building, renovate it and
open museums--on San Francisco and on the Gold Rush, as well as a
numismatic museum--has gained momentum, and the surcharges on the sales
of gold and silver commemorative coins authorized in this legislation
will add millions to that important project. I will note that while
Greeks were the first producers of coins, Romans were the first to
collect them. Romans initially prized Greek coins, especially the older
issues, but they later collected their own coins. Now, many Americans,
while collecting foreign coins, are proud to collect U.S. coinage, from
the early days down through the 50-State quarters and, I hope soon, the
Presidential dollars. A coinage museum in this grand old building would
be a boon to collectors, teachers, and students.
Mr. Speaker, this proposal is an excellent idea for a commemorative
coin. It has received the required two-thirds co-sponsorship of House
members, and if enacted will proceed at no cost to the taxpayer. I urge
its immediate passage.
House of Representatives,
Committee on Financial Services,
Washington, DC, October 25, 2005.
Hon. William M. Thomas,
Chairman, Committee on Ways and Means, U.S. House of
Representatives, Longworth House Office Building,
Washington, DC.
Dear Chairman Thomas: I am writing concerning H.R. 1953,
the ``San Francisco Old Mint Commemorative Coin Act,'' which
was introduced in the House and referred to the Committee on
Financial Services on April 28, 2005. It is my expectation
that this bill will be scheduled for floor consideration in
the near future.
As you know, Section 7 of the bill establishes a surcharge
for the sale of commemorative coins that are minted under the
bill. I acknowledge your committee's jurisdictional interest
in such surcharges as revenue matters. However, I request
that your committee forego action on H.R. 1953 in order to
allow the bill to come to the floor expeditiously. I
appreciate your cooperation in so doing, and agree that your
decision to forego further action on this bill will not
prejudice the Committee on Ways and Means with respect to its
jurisdictional prerogatives on this or similar legislation. I
would support your request for conferees on those provisions
within your jurisdiction should this bill be the subject of a
House-Senate conference.
I will include a copy of this letter and your response in
the Congressional Record when this bill is considered by the
House. Thank you again for your assistance.
Yours truly,
Michael G. Oxley,
Chairman.
____
House of Representatives,
Committee on Ways and Means,
Washington, DC, November 4, 2005.
Hon. Michael G. Oxley,
Chairman, Committee on Financial Services, Rayburn House
Office Building, Washington, DC.
Dear Chairman Oxley: Thank you for your letter regarding
H.R. 1953, the ``San Francisco Old Mint Commemorative Coin
Act,'' which was introduced in the House and referred to the
Committee on Financial Services on April 28, 2005.
As you noted, the Committee on Ways and Means maintains
jurisdiction over matters that concern raising revenue.
Section 7 of H.R. 1953 establishes a surcharge for the sale
of commemorative coins that are minted under the bill, and
thus falls within the jurisdiction of the Committee on Ways
and Means. However, in order to expedite this bill for floor
consideration, the Committee will forgo action. This is being
done with the understanding that it does not in any way
prejudice the Committee with respect to the appointment of
conferees or its jurisdictional prerogatives on this bill or
similar legislation.
I appreciate and agree to your offer to include this
exchange of letters on this matter in the Congressional
Record during floor consideration.
Best regards,
Bill Thomas,
Chairman.
Mrs. MALONEY. Mr. Speaker, I have no further requests for time, and I
yield back the balance of my time.
Mrs. KELLY. Mr. Speaker, one can see that this is a strong bipartisan
bill that deserves the support of every one of our colleagues.
Mr. Speaker, I have no further requests for time, and I yield back
the balance of my time.
The SPEAKER pro tempore (Mr. Feeney). The question is on the motion
offered by the gentlewoman from New York (Mrs. Kelly) that the House
suspend the rules and pass the bill, H.R. 1953, 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. LANTOS. 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.
____________________