[Congressional Record Volume 152, Number 87 (Thursday, June 29, 2006)]
[Senate]
[Page S7178]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                 ABRAHAM LINCOLN COMMEMORATIVE COIN ACT

  Mr. McCONNELL. I ask unanimous consent that the Senate proceed to the 
immediate consideration of Calendar No. 500, S. 811.
  The PRESIDING OFFICER. The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 811) to require the Secretary of the Treasury to 
     mint coins in commemoration of the bicentennial of the birth 
     of Abraham Lincoln.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. McCONNELL. I ask unanimous consent that the bill be read a third 
time and passed, the motion to reconsider be laid upon the table, and 
any statements relating to the bill be printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (S. 811) was ordered to be engrossed for a third reading, 
read the third time and passed, as follows:

                                 S. 811

       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 ``Abraham Lincoln 
     Commemorative Coin Act''.

     SEC. 2. 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 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 were 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 his 
     country, dying from an assassin's bullet on April 15, 1865.
       (6) The year 2009 will be the bicentennial anniversary of 
     the birth of Abraham Lincoln.
       (7) The Abraham Lincoln Bicentennial Commission has been 
     charged by Congress with planning the celebration of 
     President Lincoln's bicentennial.
       (8) The proceeds from a commemorative coin will help fund 
     the celebration and the continued study of the life of 
     President Lincoln.

     SEC. 3. COIN SPECIFICATIONS.

       (a) $1 Silver Coins.--The Secretary of the Treasury (in 
     this Act referred to as the ``Secretary'') shall mint and 
     issue not more than 500,000 $1 coins, which shall--
       (1) weigh 26.73 grams;
       (2) have a diameter of 1.500 inches; and
       (3) 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 life and legacy of President 
     Abraham Lincoln.
       (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 ``2009''; 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 Abraham Lincoln Bicentennial 
     Commission; and
       (2) reviewed by the Citizens Coinage Advisory Committee 
     established under section 5135 of title 31, United States 
     Code.

     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.--Only 1 facility of the United States 
     Mint may be used to strike any particular quality of the 
     coins minted under this Act.
       (c) Period for Issuance.--The Secretary may issue coins 
     minted under this Act only during the 1-year period beginning 
     on January 1, 2009.

     SEC. 6. SALE OF COINS.

       (a) Sale Price.--The coins minted 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 minted 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 of $10 per 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 minted under this Act shall be 
     promptly paid by the Secretary to the Abraham Lincoln 
     Bicentennial Commission to further the work of the 
     Commission.
       (c) Audits.--The Abraham Lincoln Bicentennial Commission 
     shall be subject to the audit requirements of section 
     5134(f)(2) of title 31, United States Code.

                          ____________________