[United States Statutes at Large, Volume 118, 108th Congress, 2nd Session]
[From the U.S. Government Publishing Office, www.gpo.gov]

118 STAT. 1017

Public Law 108-289
108th Congress

An Act


 
To provide for the issuance of a coin to commemorate the 400th
anniversary of the Jamestown settlement. NOTE: Aug. 6, 2004 -  [H.R.
1914]

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, NOTE: Jamestown 400th
Anniversary Commemorative Coin Act of 2004. 31 USC 5112 note.

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Jamestown 400th Anniversary
Commemorative Coin Act of 2004''.

SEC. 2. FINDINGS.

The Congress makes the following findings:
(1) The founding of the colony at Jamestown, Virginia, in
1607, the first permanent English colony in America, and the
capital of Virginia for 92 years, has major significance in the
history of the United States.
(2) The Jamestown Settlement brought people from throughout
the Atlantic Basin together to form a society that drew upon the
strengths and characteristics of English, European, African, and
Native American cultures.
(3) The economic, political, religious, and social
institutions that developed during the first 9 decades of the
existence of Jamestown continue to have profound effects on the
United States, particularly in English common law and language,
cross cultural relationships, manufacturing, and economic
structure and status.
(4) The National Park Service, the Association for the
Preservation of Virginia Antiquities, and the Jamestown-Yorktown
Foundation of the Commonwealth of Virginia collectively own and
operate significant resources related to the early history of
Jamestown.
(5) In 2000, Congress established the Jamestown 400th
Commemoration Commission to ensure a suitable national
observance of the Jamestown 2007 anniversary and to support and
facilitate marketing efforts for a commemorative coin, stamp,
and related activities for the Jamestown 2007 observances.
(6) A commemorative coin will bring national and
international attention to the lasting legacy of Jamestown,
Virginia.
(7) The proceeds from a surcharge on the sale of such
commemorative coin will assist the financing of a suitable
national observance in 2007 of the 400th anniversary of the
founding of Jamestown, Virginia.

[[Page 1018]]
118 STAT. 1018

SEC. 2. COIN SPECIFICATIONS.

(a) Denominations.--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 dollar 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 dollar 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. 3. SOURCES OF BULLION.

The Secretary shall obtain gold and silver for minting coins under
this Act pursuant to the authority of the Secretary under other
provisions of law.

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 settlement of Jamestown,
Virginia, the first permanent English settlement in America.
(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 ``2007''; 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--
(A) the Jamestown 2007 Steering Committee, created
by the Jamestown-Yorktown Foundation of the Commonwealth
of Virginia;
(B) the National Park Service; and
(C) the Commission of Fine Arts; and
(2) reviewed by the citizens 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 combination of denomination and quality of
the coins minted under this Act.
(c) Period for Issuance.--The Secretary may issue coins minted under
this Act only during the period
beginning on January 1, 2007, and ending on December 31, 2007.

[[Page 1019]]
118 STAT. 1019

SEC. 6. SALE OF COINS.

(a) Sale Price.--Notwithstanding any other provision of law, the
coins issued under this Act shall be sold by the Secretary at a price
equal to the face value, plus the cost of designing and issuing such
coins (including labor, materials, dies, use of machinery, overhead
expenses, and marketing).
(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) Surcharge Required.--All sales shall include a surcharge of $35
per coin for the $5 coins and $10 per coin for the $1 coins.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, all surcharges which are received by the Secretary from the
sale of coins issued under this Act shall be promptly paid by the
Secretary as follows:
(1) Programs to promote understanding of the legacies of
jamestown.--\1/2\ of the surcharges shall be used to support
programs to promote the understanding of the legacies of
Jamestown and for such purpose shall be paid to the Jamestown-
Yorktown Foundation of the Commonwealth of Virginia.
(2) Other purposes for surcharges.--
(A) In general.--\1/2\ of the surcharges shall be
used for the following purposes:
(i) To sustain the ongoing mission of
preserving Jamestown.
(ii) To enhance national and international
educational programs relating to Jamestown,
Virginia.
(iii) To improve infrastructure and
archaeological research activities relating to
Jamestown, Virginia.
(iv) To conduct other programs to support the
commemoration of the 400th anniversary of the
settlement of Jamestown, Virginia.
(B) Recipients of surcharges for such other
purposes.--The surcharges referred to in subparagraph
(A) shall be distributed by the Secretary in equal
shares to the following organizations for the purposes
described in such subparagraph:
(i) The Secretary of the Interior.
(ii) The Association for the Preservation of
Virginia Antiquities.
(iii) The Jamestown-Yorktown Foundation of the
Commonwealth of Virginia.

(c) Audits.--The Jamestown-Yorktown Foundation of the Commonwealth
of Virginia, the Secretary of the Interior, and the Association for the
Preservation of Virginia Antiquities shall each be subject to the audit
requirements of section 5134(f)(2) of title 31, United States Code.

(d) Limitation.--Notwithstanding subsection (a), no surcharge may be
included with respect to the issuance under this Act of

[[Page 1020]]
118 STAT. 1020

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.

Approved August 6, 2004.

LEGISLATIVE HISTORY--H.R. 1914:
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HOUSE REPORTS: No. 108-472, Pt. 1 (Comm. on Financial Services) and Pt.
2 (Comm. on Ways and Means).
CONGRESSIONAL RECORD, Vol. 150 (2004):
July 14, considered and passed House.
July 20, considered and passed Senate.