[109th Congress Public Law 230]
[From the U.S. Government Printing Office]
[DOCID: f:publ230.109]
[[Page 120 STAT. 391]]
Public Law 109-230
109th Congress
An Act
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. <<NOTE: June 15, 2006 - [H.R. 1953]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress <<NOTE: San Francisco Old Mint
Commemorative Coin Act. 31 USC 5112 note.>> 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
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(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.
(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.
[[Page 120 STAT. 393]]
(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. <<NOTE: 31 USC 5112 note.>> 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.
Approved June 15, 2006.
LEGISLATIVE HISTORY--H.R. 1953:
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CONGRESSIONAL RECORD:
Vol. 151 (2005):
Nov. 8, 10, considered and passed
House.
Vol. 152 (2006):
May 25, considered and passed
Senate.
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