[Congressional Record Volume 154, Number 160 (Thursday, October 2, 2008)]
[Senate]
[Pages S10420-S10421]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           UNITED STATES ARMY COMMEMORATIVE COIN ACT OF 2008

  Mr. NELSON of Nebraska. Mr. President, I ask unanimous consent that 
the Committee on Banking be discharged from further consideration of S. 
2579, and the Senate proceed to its immediate consideration.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The clerk will report the bill by title.
  The legislative clerk read as follows:

       A bill (S. 2579) to require the Secretary of the Treasury 
     to mint coins in recognition and celebration of the 
     establishment of the United States Army in 1775, to honor the 
     American soldier of both today and yesterday, in wartime and 
     in peace, and to commemorate the traditions, history, and 
     heritage of the United States Army and its role in American 
     society, from the colonial period to today.

  There being no objection, the Senate proceeded to consider the bill.
  Mr. NELSON of Nebraska. Mr. President, I ask unanimous consent that 
the bill be read a third time and passed, the motion to reconsider be 
laid upon the table, and that any statements relating to the bill be 
printed in the Record.
  The PRESIDING OFFICER. Without objection, it is so ordered.
  The bill (S. 2579) was ordered to be engrossed for a third reading, 
was read the third time, and passed, as follows:

                                S. 2579

       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 ``United States Army 
     Commemorative Coin Act of 2008''.

     SEC. 2. FINDINGS.

       Congress finds that--
       (1) the United States Army, founded in 1775, has served 
     this country well for over 230 years;
       (2) the United States Army has played a decisive role in 
     protecting and defending freedom throughout the history of 
     the United States, from the Colonial period to today, in 
     wartime and in peace, and has consistently answered the call 
     to serve the American people at home and abroad since the 
     Revolutionary War;
       (3) the sacrifice of the American soldier, of all ranks, 
     since the earliest days of the Republic has been immense and 
     is deserving of the unique recognition bestowed by 
     commemorative coinage;
       (4) the Army, the Nation's oldest and largest military 
     service, is the only service branch that currently does not 
     have a comprehensive national museum celebrating, preserving, 
     and displaying its heritage and honoring its veterans;
       (5) the National Museum of the United States Army will be--
       (A) the Army's only service-wide, national museum honoring 
     all soldiers, of all ranks, in all branches since 1775; and

[[Page S10421]]

       (B) located at Fort Belvoir, Virginia, across the Potomac 
     River from the Nation's Capitol, a 10-minute drive from Mount 
     Vernon, the home of the Army's first Commander-in-Chief, and 
     astride the Civil War's decisive Washington-Richmond 
     corridor;
       (6) the Army Historical Foundation (in this Act referred to 
     as the ``Foundation''), founded in 1983--
       (A) is dedicated to preserving the history and heritage of 
     the American soldier; and
       (B) seeks to educate future Americans to fully appreciate 
     the sacrifices that generations of American soldiers have 
     made to safeguard the freedoms of this Nation;
       (7) the completion and opening to the public of the 
     National Museum of the United States Army will immeasurably 
     help in fulfilling that mission;
       (8) the Foundation is a nongovernmental, member-based, and 
     publicly supported nonprofit organization that is dependent 
     on funds from members, donations, and grants for support;
       (9) the Foundation uses such support to help create the 
     National Museum of the United States Army, refurbish 
     historical Army buildings, acquire and conserve Army 
     historical art and artifacts, support Army history 
     educational programs, for research, and publication of 
     historical materials on the American soldier, and to provide 
     support and counsel to private and governmental organizations 
     committed to the same goals as the Foundation;
       (10) in 2000, the Secretary of the Army designated the 
     Foundation as its primary partner in the building of the 
     National Museum of the United States Army; and
       (11) the Foundation is actively engaged in executing a 
     major capital campaign to support the National Museum of the 
     United States Army.

     SEC. 3. COIN SPECIFICATIONS.

       (a) Denominations.--In recognition and celebration of the 
     founding of the United States Army in 1775, and 
     notwithstanding any other provision of law, the Secretary of 
     the Treasury (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.
       (3) Half dollar clad coins.--Not more than 750,000 half 
     dollar coins, which shall--
       (A) weigh 11.34 grams;
       (B) have a diameter of 1.205 inches; and
       (C) be minted to the specifications for half dollar coins, 
     contained in section 5112(b) of title 31, United States Code.
       (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 traditions, history, and 
     heritage of the United States Army, and its role in American 
     society from the Colonial period to today.
       (2) Designations 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 ``2011''; 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--
       (1) contain motifs that specifically honor the American 
     soldier of both today and yesterday, in wartime and in peace, 
     such designs to be consistent with the traditions and 
     heritage of the United States Army, the mission and goals of 
     the National Museum of the United States Army, and the 
     missions and goals of the Foundation;
       (2) be selected by the Secretary, after consultation with 
     the Secretary of the Army, the Foundation, and the Commission 
     of Fine Arts; and
       (3) be 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 Facilities.--For each of the 3 coins minted under 
     this Act, at least 1 facility of the United States Mint shall 
     be used to strike proof quality coins, while at least 1 other 
     such facility shall be used to strike the uncirculated 
     quality coins.
       (c) Period for Issuance.--The Secretary may issue coins 
     minted under this Act only during the 1-year period beginning 
     on January 1, 2011.

     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.
       (3) A surcharge of $5 per coin for the half dollar 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 Foundation to help 
     finance the National Museum of the United States Army.
       (c) Audits.--The Foundation 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 Foundation 
     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 enactment of 
     this Act). The Secretary of the Treasury may issue guidance 
     to carry out this subsection.

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