[Congressional Record (Bound Edition), Volume 161 (2015), Part 7]
[House]
[Pages 10262-10263]
[From the U.S. Government Publishing Office, www.gpo.gov]




BULLION AND COLLECTIBLE COIN PRODUCTION EFFICIENCY AND COST SAVINGS ACT

  Mr. HUIZENGA of Michigan. Mr. Speaker, I move to suspend the rules 
and pass the bill (H.R. 1698) to amend design and content requirements 
for certain gold and silver coins, and for other purposes, as amended.
  The Clerk read the title of the bill.
  The text of the bill is as follows:

                               H.R. 1698

       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 ``Bullion and Collectible Coin 
     Production Efficiency and Cost Savings Act''.

     SEC. 2. TECHNICAL CORRECTIONS.

       Title 31, United States Code, is amended--
       (1) in section 5112--
       (A) in subsection (q)--
       (i) by striking paragraphs (3) and (8); and
       (ii) by redesignating paragraphs (4), (5), (6), and (7) as 
     paragraphs (3), (4), (5), and (6), respectively;
       (B) in subsection (t)(6)(B), by striking ``90 percent 
     silver and 10 percent copper'' and inserting ``not less than 
     90 percent silver''; and
       (C) in subsection (v)--
       (i) in paragraph (1), by striking ``Subject to'' and all 
     that follows through ``the Secretary shall'' and inserting 
     ``The Secretary shall'';
       (ii) in paragraph (2)(A), by striking ``The Secretary'' and 
     inserting ``To the greatest extent possible, the Secretary'';
       (iii) in paragraph (5), by inserting after ``may issue'' 
     the following: ``collectible versions of''; and
       (iv) by striking paragraph (8); and
       (2) in section 5132(a)(2)(B)(i), by striking ``90 percent 
     silver and 10 percent copper'' and inserting ``not less than 
     90 percent silver''.

[[Page 10263]]



     SEC. 3. AMERICAN EAGLE SILVER BULLION 30TH ANNIVERSARY.

       Proof and uncirculated versions of coins issued by the 
     Secretary of the Treasury pursuant to subsection (e) of 
     section 5112 of title 31, United States Code, during calendar 
     year 2016 shall have a smooth edge incused with a designation 
     that notes the 30th anniversary of the first issue of coins 
     under such subsection.

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


                             General Leave

  Mr. HUIZENGA of Michigan. Mr. Speaker, I ask unanimous consent that 
all Members may have 5 legislative days in which to revise and extend 
their remarks and include extraneous material on the bill.
  The SPEAKER pro tempore. Is there objection to the request of the 
gentleman from Michigan?
  There was no objection.
  Mr. HUIZENGA of Michigan. Mr. Speaker, I yield myself such time as I 
may consume.
  Mr. Speaker, I rise today in support of H.R. 1698, the Bullion and 
Collectible Coin Production Efficiency and Cost Savings Act, a 
bipartisan bill which I introduced in March, along with the gentlewoman 
from New York, Representative Maloney.
  This simple piece of legislation would make minor changes to four 
existing coin programs. Each change saves money for the United States 
Mint, and it makes it easier to produce the coins or make the coins 
more attractive to investors and collectors.
  The changes include: first, making it less expensive to package gold 
investment coins; second, it allows the Mint to buy standard coinage 
silver for collectible coins instead of the more expensive custom 
alloy; third, it removes the requirement for an already completed study 
on the production of an investor coin made of palladium; and, fourth, 
it allows collector versions of the widely popular American eagle 
silver investment coin to bear an inscription noting that next year is 
the 30th anniversary of the first issuance of those coins.
  These small changes will have an impact on saving taxpayer dollars 
over the next few years.
  Mr. Speaker, I ask for immediate passage of H.R. 1698.
  I reserve the balance of my time.

                              {time}  1600

  Mrs. CAROLYN B. MALONEY of New York. Mr. Speaker, I yield myself as 
much time as I may consume.
  Mr. Speaker, I rise today in support of this cost-saving legislation, 
which I was proud to cosponsor with my friend from Michigan.
  People who see the big things that Congress does, they often forget 
that we have to pay attention to the little things, too, and these 
little things are important. This is a very good example of that. This 
is a small bill which makes the government better, saves some 
taxpayers' money, and makes our coin programs better for collectors and 
for investors.
  For years, the laws that specify the production of silver coins made 
by the Mint have required them to be 90 percent silver. Today, the 
standard silver used in coins is 91 percent silver. So the Mint has had 
to pay extra for custom coin blanks. This legislation fixes that 
problem.
  It also allows the Mint to make a special collectible version of the 
American Eagle silver bullion coin, noting the popularity of the 
program over the past 30 years.
  The bill also allows the sale of American Buffalo gold coins in bulk 
rather than in individual packages, making handling easier for the Mint 
and for investors and clears the final hurdle for the Mint finally to 
produce investor coins made of palladium, an idea from a 2010 bill from 
my former colleague and very good friend, Mr. Watt.
  Mr. Speaker, this bill saves money and makes coin programs more 
attractive to collectors and investors. I ask for its immediate 
passage.
  I yield back the balance of my time.
  Mr. HUIZENGA of Michigan. Mr. Speaker, I yield back the balance of my 
time.
  The SPEAKER pro tempore. The question is on the motion offered by the 
gentleman from Michigan (Mr. Huizenga) that the House suspend the rules 
and pass the bill, H.R. 1698, as amended.
  The question was taken; and (two-thirds being in the affirmative) the 
rules were suspended and the bill, as amended, was passed.
  A motion to reconsider was laid on the table.

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