(a) The Secretary of the Treasury—
(1) shall mint and issue coins described in section 5112 of this title in amounts the Secretary decides are necessary to meet the needs of the United States;
(2) may prepare national medal dies and strike national and other medals if it does not interfere with regular minting operations but may not prepare private medal dies;
(3) may prepare and distribute numismatic items; and
(4) may mint coins for a foreign country if the minting does not interfere with regular minting operations, and shall prescribe a charge for minting the foreign coins equal to the cost of the minting (including labor, materials, and the use of machinery).
(b) The Department of the Treasury has a coinage metal fund and a coinage profit fund. The Secretary may use the coinage metal fund to buy metal to mint coins. The Secretary shall credit the coinage profit fund with the amount by which the nominal value of the coins minted from the metal exceeds the cost of the metal. The Secretary shall charge the coinage profit fund with waste incurred in minting coins and the cost of distributing the coins, including the cost of coin bags and pallets. The Secretary shall deposit in the Treasury as miscellaneous receipts excess amounts in the coinage profit fund.
(c)
(1)
(2)
(B) Subparagraph (A) shall apply only in the case of a bid or offer from a supplier the principal place of business of which is in a foreign country which does not accord to United States companies the same competitive opportunities for procurements in connection with the production of coins as it accords to domestic companies.
(3)
(A)
(B)
(4) Nothing in paragraph (2) of this subsection in any way affects the procurement by the Secretary of gold and silver for the production of coins by the United States Mint.
(d)(1) The Secretary may prohibit or limit the exportation, melting, or treatment of United States coins when the Secretary decides the prohibition or limitation is necessary to protect the coinage of the United States.
(2) A person knowingly violating an order or license issued or regulation prescribed under paragraph (1) of this subsection, shall be fined not more than $10,000, imprisoned not more than 5 years, or both.
(3) Coins exported, melted, or treated in violation of an order or license issued or regulation prescribed, and metal resulting from the melting or treatment, shall be forfeited to the United States Government. The powers of the Secretary and the remedies available to enforce forfeitures are those provided in part II of subchapter C of chapter 75 of the Internal Revenue Code of 1954 1 (26 U.S.C. 7321 et seq.).
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 980; Pub. L. 100–274, §3, Mar. 31, 1988, 102 Stat. 49; Pub. L. 102–390, title II, §222, Oct. 6, 1992, 106 Stat. 1629.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5111(a)(1) | 31:272. | R.S. §3503. |
| 31:275. | R.S. §3509; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. | |
| 31:322. | R.S. §3516. | |
| 31:342. | June 4, 1897, ch. 2, §1(1st par. under heading "Recoinage, Reissue, and Transportation of Minor Coins"), 30 Stat. 27. | |
| 31:345. | R.S. §3532; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. | |
| 31:353. | R.S. §3540; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. | |
| 31:391(a). | July 23, 1965, Pub. L. 89–81, §101(a), 79 Stat. 254; restated Dec. 31, 1970, Pub. L. 91–607, §201, 84 Stat. 1768. | |
| 5111(a)(2) | 31:368. | R.S. §3551; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. |
| 5111(a)(3) | 31:324h. | Oct. 18, 1973, Pub. L. 93–127, §5, 87 Stat. 456. |
| 5111(a)(4) | 31:367. | Jan. 29, 1874, ch. 19, 18 Stat. 6. |
| 5111(b) | 31:340. | R.S. §3528; Apr. 24, 1906, ch. 1861, 34 Stat. 132; Dec. 2, 1918, ch. 1, 40 Stat. 1051; Aug. 14, 1937, ch. 631, 50 Stat. 647; June 21, 1941, ch. 213, 55 Stat. 255; June 30, 1954, ch. 427, 68 Stat. 336; July 9, 1956, ch. 535, §1, 70 Stat. 518; restated July 23, 1965, Pub. L. 89–81, §206(a), 79 Stat. 256. |
| 5111(c) | 31:393(a). | July 23, 1965, Pub. L. 89–81, §§103(a), 105, 106, 79 Stat. 255. |
| 5111(d) | 31:395, 396. |
In subsection (a)(1), the words "coins described in" are substituted for "coins of the denominations set forth in" in 31:391(a) because of the restatement. The text of 31:253, 272, and 345(1st sentence) is omitted as superseded by the source provisions restated in section 321(c) of the revised title. The text of 31:275, 322, 342, 345(last sentence), and 353 is omitted as unnecessary because of the restatement.
In subsection (a)(2), the words "Secretary of the Treasury" are substituted for "engraver" and "superintendent of coining department of the mint at Philadelphia" because of the source provisions restated in section 321(c) of the revised title. The words "under such regulations as the superintendent, with the approval of the Director of the Mint, may prescribe" are omitted as unnecessary because of section 321(b) of the revised title. The words "national medal dies" are substituted for "Dies of a national character" for clarity. The words "or the machinery or apparatus thereof be used for that purpose" are omitted as unnecessary because of the restatement.
In subsection (a)(3), the words "numismatic items" are retained and used throughout the revised title to apply to medals, proof coins, uncirculated coins, numismatic accessories, and other numismatic items to eliminate unnecessary words and for consistency. The words "In connection with the operations of the Bureau of the Mint" are omitted as unnecessary because of the restatement. The text of 31:324h(last sentence) is omitted as unnecessary because of the source provisions restated in section 5132(a) of the revised title.
In subsection (a)(4), the words "may mint" are substituted for "It shall be lawful for coinage to be executed" in 31:367, and the words "regular minting operations" are substituted for "required coinage of the United States", for consistency in the revised section. The words "at the mints of the United States" and "according to the legally prescribed standards and devices of such country" are omitted as unnecessary because of the restatement. The words "The Secretary of the Treasury . . . shall prescribe a charge" are substituted for "the charge . . . to be fixed by the Director of the Mint, with the approval of the Secretary of the Treasury" because of the source provisions restated in section 321(c) of the revised title. The words "minting the foreign coins" are substituted for "the same", for clarity. The words "under such regulations as the Secretary of the Treasury may prescribe" are omitted as unnecessary because of section 321(b) of the revised title.
In subsection (b), the first sentence is added for clarity and because of the restatement. The words "amount by which the nominal value of the coins minted from the metal exceeds the cost of the metal" are substituted for "gain arising from the coinage of metals purchased out of such fund into coin of a nominal value exceeding the cost of such metals" to eliminate unnecessary words. The words "The Secretary shall deposit in the Treasury as miscellaneous receipts excess amounts in the coinage profit fund" are substituted for "such sums as shall from time to time be transferred therefrom to the general fund of the Treasury" for clarity and for consistency in the revised title.
In subsection (c), the words "metallic strip" are omitted as being included in "materials", and the word "terms" is omitted as being included in "conditions".
In subsection (d)(1), the words "prohibit or limit" are substituted for "prohibit, curtail, or regulate" because of the restatement and to eliminate unnecessary words. The words "prohibition or limitation" are substituted for "such action" because of the restatement. The words "under such rules and regulations as he may prescribe" are omitted as unnecessary because of section 321(b) of the revised title.
In subsection (d)(2), the word "person" is substituted for "Whoever" for consistency in the revised title.
In subsection (d)(3), the words "and his delegates" are omitted as unnecessary because of the power of the Secretary to delegate under section 321(b) of the revised title. The word "remedies" is substituted for "judicial and other remedies available to the United States" to eliminate unnecessary words. The words "of property subject to forfeiture pursuant to subsection (a) of this section" and "for the enforcement of forfeitures of property subject to forfeiture under any provision of title 26" are omitted as unnecessary because of the restatement.
The Internal Revenue Code of 1954, referred to in subsec. (d)(3), was redesignated the Internal Revenue Code of 1986 by Pub. L. 99–514, §2, Oct. 22, 1986, 100 Stat. 2095, and is classified generally to Title 26, Internal Revenue Code.
1992—Subsec. (b). Pub. L. 102–390 inserted ", including the cost of coin bags and pallets" after "distributing the coins" in fourth sentence.
1988—Subsec. (c). Pub. L. 100–274 inserted heading and amended subsec. (c) generally. Prior to amendment, subsec. (c) read as follows: "The Secretary may make contracts on conditions the Secretary decides are appropriate and in the public interest to acquire equipment, manufacturing facilities, patents, patent rights, technical knowledge and assistance, and materials necessary to produce rapidly an adequate supply of coins referred to in section 5112(a)(1)–(4) of this title."
All assets and liabilities of Coinage Profit Fund and Coinage Metal Fund transferred to United States Mint Public Enterprise Fund and both coinage funds to cease to exist as separate funds as their activities and functions are subsumed under and subject to United States Mint Public Enterprise Fund, see section 5136 of this title.
Provisions authorizing commemorative medals were contained in the following acts:
Pub. L. 117–334, Jan. 5, 2023, 136 Stat. 6140, recognizing Emmett Till and Mamie Till-Mobley for heroic actions in the midst of evil, injustice, and grief that became a catalyst for the civil rights movement.
Pub. L. 117–328, div. AA, title VII, Dec. 29, 2022, 136 Stat. 5549, recognizing Benjamin Berell Ferencz for his service to the United States and international community during the post-World War II Nuremberg trials and lifelong advocacy for international criminal justice and rule of law.
Pub. L. 117–320, Dec. 27, 2022, 136 Stat. 4426, recognizing the 53 hostages of the Iran Hostage Crisis of 1979–1981 for their bravery and endurance throughout their captivity.
Pub. L. 117–256, Dec. 21, 2022, 136 Stat. 2368, recognizing Glen Doherty, J. Christopher Stevens, Sean Smith, and Tyrone Woods, killed in the attack on the United States consulate in Benghazi, Libya, on September 11, 2012, for their contributions to the nation.
Pub. L. 117–132, June 7, 2022, 136 Stat. 1232, recognizing United States Army Rangers Veterans of World War II.
Pub. L. 117–97, Mar. 14, 2022, 136 Stat. 36, recognizing the service of the women of the 6888th Central Postal Directory Battalion, known as the "Six Triple Eight".
Pub. L. 117–85, Feb. 1, 2022, 136 Stat. 11, recognizing the service of the 23d Headquarters Special Troops and the 3133d Signal Services Company, known collectively as the "Ghost Army", during World War II.
Pub. L. 117–84, Jan. 31, 2022, 136 Stat. 8, recognizing Willie O'Ree, the first Black player to compete in the National Hockey League.
Pub. L. 117–72, Dec. 16, 2021, 135 Stat. 1511, recognizing the 13 United States servicemembers killed at the Hamid Karzai International Airport in Kabul, Afghanistan, on Aug. 26, 2021.
Pub. L. 117–38, Aug. 25, 2021, 135 Stat. 333, recognizing the 369th Infantry Regiment, commonly known as the "Harlem Hellfighters", for service during World War I.
Pub. L. 117–32, Aug. 5, 2021, 135 Stat. 322, recognizing the United States Capitol Police and those who protected the U.S. Capitol on January 6, 2021.
Pub. L. 116–208, Dec. 4, 2020, 134 Stat. 1008, recognizing Greg LeMond.
Pub. L. 116–195, Dec. 3, 2020, 134 Stat. 984, recognizing female individuals who held employment or volunteered in support of the war efforts during World War II, known as "Rosie the Riveter".
Pub. L. 116–170, Oct. 17, 2020, 134 Stat. 775, recognizing Merrill's Marauders.
Pub. L. 116–125, Mar. 13, 2020, 134 Stat. 171, recognizing the United States merchant mariners of World War II.
Pub. L. 116–68, Nov. 8, 2019, 133 Stat. 1129; Pub. L. 117–103, div. HH, title IV, §401, Mar. 15, 2022, 136 Stat. 1113, recognizing Katherine Johnson, Dr. Christine Darden, Dorothy Vaughan, Mary Jackson, and all women who served as computers, mathematicians, and engineers at the National Advisory Committee for Aeronautics and the National Aeronautics and Space Administration between the 1930s and the 1970s.
Pub. L. 115–415, Jan. 3, 2019, 132 Stat. 5433, recognizing Stephen Michael Gleason.
Pub. L. 115–338, Dec. 20, 2018, 132 Stat. 5033, recognizing the crew of the USS Indianapolis.
Pub. L. 115–337, Dec. 20, 2018, 132 Stat. 5029, recognizing Chinese-American Veterans of World War II.
Pub. L. 115–322, Dec. 17, 2018, 132 Stat. 4440, recognizing Larry Doby.
Pub. L. 115–310, Dec. 13, 2018, 132 Stat. 4424, recognizing Anwar Sadat.
Pub. L. 115–60, Sept. 15, 2017, 131 Stat. 1154, recognizing Bob Dole.
Pub. L. 114–269, Dec. 14, 2016, 130 Stat. 1391, recognizing the Office of Strategic Services.
Pub. L. 114–265, Dec. 14, 2016, 130 Stat. 1376, recognizing Filipino Veterans of World War II.
Pub. L. 114–5, Mar. 7, 2015, 129 Stat. 78, recognizing Foot Soldiers who participated in Bloody Sunday, Turnaround Tuesday, or the final Selma to Montgomery Voting Rights March in March, 1965.
Pub. L. 113–210, Dec. 16, 2014, 128 Stat. 2077, recognizing Jack Nicklaus.
Pub. L. 113–120, June 10, 2014, 128 Stat. 1187, recognizing the 65th Infantry Regiment of the United States Army, known as the "Borinqueneers".
Pub. L. 113–116, June 9, 2014, 128 Stat. 1179, recognizing the Monuments Men.
Pub. L. 113–114, June 9, 2014, 128 Stat. 1175, recognizing Shimon Peres.
Pub. L. 113–108, May 30, 2014, 128 Stat. 1164, recognizing World War II members of the Civil Air Patrol.
Pub. L. 113–106, May 23, 2014, 128 Stat. 1160, recognizing the World War II members of the 17th Bombardment Group (Medium) who became known as the "Doolittle Tokyo Raiders".
Pub. L. 113–105, May 23, 2014, 128 Stat. 1157, recognizing the American Fighter Aces.
Pub. L. 113–16, July 12, 2013, 127 Stat. 477, recognizing the First Special Service Force.
Pub. L. 113–11, May 24, 2013, 127 Stat. 446, recognizing Addie Mae Collins, Denise McNair, Carole Robertson, and Cynthia Wesley.
Pub. L. 112–148, July 26, 2012, 126 Stat. 1140, recognizing Raoul Wallenberg.
Pub. L. 112–76, Dec. 23, 2011, 125 Stat. 1275, recognizing the fallen heroes who perished as a result of the terrorist attacks on the United States on Sept. 11, 2001.
Pub. L. 112–59, Nov. 23, 2011, 125 Stat. 749; Pub. L. 113–118, §3, June 9, 2014, 128 Stat. 1183, recognizing the Montford Point Marines.
Pub. L. 111–254, Oct. 5, 2010, 124 Stat. 2637, recognizing the 100th Infantry Battalion, the 442nd Regimental Combat Team, and the Military Intelligence Service, United States Army, for service during World War II.
Pub. L. 111–253, Oct. 5, 2010, 124 Stat. 2635, recognizing Dr. Muhammad Yunus.
Pub. L. 111–221, Aug. 6, 2010, 124 Stat. 2376, recognizing the 10th anniversary of Sept. 11, 2001, and the establishment of the National September 11 Memorial & Museum.
Pub. L. 111–65, Sept. 30, 2009, 123 Stat. 2003, recognizing Arnold Palmer.
Pub. L. 111–44, Aug. 7, 2009, 123 Stat. 1966, recognizing Neil A. Armstrong, Edwin E. "Buzz" Aldrin, Jr., Michael Collins, and John Herschel Glenn, Jr.
Pub. L. 111–40, July 1, 2009, 123 Stat. 1958, recognizing the Women Airforce Service Pilots (WASP).
Pub. L. 110–420, Oct. 15, 2008, 122 Stat. 4774, recognizing Native American code talkers.
Pub. L. 110–260, July 1, 2008, 122 Stat. 2433, recognizing Senator Edward William Brooke III.
Pub. L. 110–259, July 1, 2008, 122 Stat. 2430, recognizing Constantino Brumidi.
Pub. L. 110–209, May 6, 2008, 122 Stat. 721, recognizing Aung San Suu Kyi.
Pub. L. 110–95, Oct. 16, 2007, 121 Stat. 1008, recognizing Michael Ellis DeBakey, M.D.
Pub. L. 109–395, Dec. 14, 2006, 120 Stat. 2708, recognizing Dr. Norman E. Borlaug.
Pub. L. 109–357, Oct. 16, 2006, 120 Stat. 2044, recognizing Byron Nelson.
Pub. L. 109–287, Sept. 27, 2006, 120 Stat. 1231, recognizing the Fourteenth Dalai Lama.
Pub. L. 109–213, Apr. 11, 2006, 120 Stat. 322, recognizing the Tuskegee Airmen.
Pub. L. 108–447, div. B, title I, §124, Dec. 8, 2004, 118 Stat. 2871; Pub. L. 109–13, div. A, title VI, §6060, May 11, 2005, 119 Stat. 297; Pub. L. 115–276, Nov. 3, 2018, 132 Stat. 4166, recognizing members of public safety organizations who were killed in, or died as a result of, the terrorist attacks in the United States on Sept. 11, 2001.
Pub. L. 108–368, Oct. 25, 2004, 118 Stat. 1746; Pub. L. 113–118, §2, June 9, 2014, 128 Stat. 1183, recognizing Reverend Doctor Martin Luther King, Jr., and his widow Coretta Scott King.
Pub. L. 108–180, Dec. 15, 2003, 117 Stat. 2645, recognizing Reverend Joseph A. DeLaine, Harry and Eliza Briggs, and Levi Pearson.
Pub. L. 108–162, Dec. 6, 2003, 117 Stat. 2017, recognizing Dr. Dorothy Irene Height.
Pub. L. 108–101, Oct. 29, 2003, 117 Stat. 1195, recognizing Jackie Robinson.
Pub. L. 108–60, July 17, 2003, 117 Stat. 862, recognizing Prime Minister Tony Blair.
Pub. L. 107–127, Jan. 16, 2002, 115 Stat. 2405, recognizing General Henry H. Shelton.
Pub. L. 106–554, §1(a)(4) [div. B, title XI, §1101], Dec. 21, 2000, 114 Stat. 2763, 2763A–311, recognizing the Navajo Code Talkers.
Pub. L. 106–251, July 27, 2000, 114 Stat. 624, recognizing Ronald and Nancy Reagan.
Pub. L. 106–250, July 27, 2000, 114 Stat. 622, recognizing Pope John Paul II.
Pub. L. 106–225, June 20, 2000, 114 Stat. 457, recognizing Charles M. Schulz.
Pub. L. 106–175, Mar. 5, 2000, 114 Stat. 21, recognizing Archbishop John Cardinal O'Connor.
Pub. L. 106–153, Dec. 9, 1999, 113 Stat. 1733, recognizing Father Theodore M. Hesburgh.
Pub. L. 106–26, May 4, 1999, 113 Stat. 50, recognizing Rosa Parks.
Pub. L. 105–277, div. C, title I, §139(a), Oct. 21, 1998, 112 Stat. 2681–597, recognizing the individuals commonly referred to as the "Little Rock Nine".
Pub. L. 105–277, div. C, title I, §139(b), Oct. 21, 1998, 112 Stat. 2681–598, recognizing Gerald R. and Betty Ford.
Pub. L. 105–215, July 29, 1998, 112 Stat. 895, recognizing Nelson Rolihlahla Mandela.
Pub. L. 105–51, Oct. 6, 1997, 111 Stat. 1170, recognizing Ecumenical Patriarch Bartholomew.
Pub. L. 105–16, June 2, 1997, 111 Stat. 35, recognizing Mother Teresa of Calcutta.
Pub. L. 105–14, May 14, 1997, 111 Stat. 32, recognizing Frank Sinatra.
Pub. L. 104–201, div. A, title X, §1066, Sept. 23, 1996, 110 Stat. 2654, recognizing civilians who defended Pearl Harbor.
Pub. L. 104–111, Feb. 13, 1996, 110 Stat. 772, recognizing Billy and Ruth Graham.
Pub. L. 103–457, Nov. 2, 1994, 108 Stat. 4799, recognizing Rabbi Menachem Mendel Schneerson.
Pub. L. 102–479, Oct. 23, 1992, 106 Stat. 2308, commemorating the 250th anniversary of the founding of the American Philosophical Society and of the birth of Thomas Jefferson.
Pub. L. 102–406, Oct. 12, 1992, 106 Stat. 1986, commemorating Benjamin Franklin's contributions to American fire services.
Pub. L. 102–281, title III, May 13, 1992, 106 Stat. 137; Pub. L. 103–328, title II, §203, Sept. 29, 1994, 108 Stat. 2369, recognizing members of the United States Armed Forces who served in a combat zone in connection with the Persian Gulf conflict.
Pub. L. 102–33, Apr. 23, 1991, 105 Stat. 177, recognizing General Colin L. Powell.
Pub. L. 102–32, Apr. 23, 1991, 105 Stat. 175, recognizing General H. Norman Schwarzkopf.
Pub. L. 101–510, div. A, title XIV, §§1491, 1494, Nov. 5, 1990, 104 Stat. 1720, 1722, recognizing General Matthew B. Ridgway.
Pub. L. 101–510, div. A, title XIV, §§1492, 1494, Nov. 5, 1990, 104 Stat. 1721, 1722, recognizing veterans of the Armed Forces of the United States who were present in Hawaii on Dec. 7, 1941, and participated in combat operations that day.
Pub. L. 101–510, div. A, title XIV, §§1493, 1494, Nov. 5, 1990, 104 Stat. 1722, commemorating centennial of Yosemite National Park.
Pub. L. 101–296, May 17, 1990, 104 Stat. 197, recognizing Laurance Spelman Rockefeller.
Pub. L. 101–260, Mar. 30, 1990, 104 Stat. 122, commemorating bicentennial of United States Coast Guard.
Pub. L. 100–639, Nov. 9, 1988, 102 Stat. 3331, recognizing Andrew Wyeth.
Pub. L. 100–437, §§1–3, Sept. 20, 1988, 102 Stat. 1717, recognizing Jesse Owens.
Pub. L. 100–210, §§1, 2, Dec. 24, 1987, 101 Stat. 1441, recognizing Mary Lasker.
Pub. L. 99–418, Sept. 23, 1986, 100 Stat. 952, recognizing Aaron Copland.
Pub. L. 99–311, May 20, 1986, 100 Stat. 464, recognizing Harry Chapin.
Pub. L. 99–298, May 13, 1986, 100 Stat. 432, recognizing Natan (Anatoly) and Avital Shcharansky.
Pub. L. 99–295, May 12, 1986, 100 Stat. 427; Pub. L. 100–210, §3, Dec. 24, 1987, 101 Stat. 1441; Pub. L. 100–437, §4, Sept. 20, 1988, 102 Stat. 1717, commemorating the Young Astronaut Program.
Pub. L. 95–630, title IV, §§401–407, Nov. 10, 1978, 92 Stat. 3679, 3680, recognizing outstanding individuals in the American arts.
1 See References in Text note below.
(a) The Secretary of the Treasury may mint and issue only the following coins:
(1) a dollar coin that is 1.043 inches in diameter.
(2) a half dollar coin that is 1.205 inches in diameter and weighs 11.34 grams.
(3) a quarter dollar coin that is 0.955 inch in diameter and weighs 5.67 grams.
(4) a dime coin that is 0.705 inch in diameter and weighs 2.268 grams.
(5) a 5-cent coin that is 0.835 inch in diameter and weighs 5 grams.
(6) except as provided under subsection (c) of this section, a one-cent coin that is 0.75 inch in diameter and weighs 3.11 grams.
(7) A fifty dollar gold coin that is 32.7 millimeters in diameter, weighs 33.931 grams, and contains one troy ounce of fine gold.
(8) A twenty-five dollar gold coin that is 27.0 millimeters in diameter, weighs 16.966 grams, and contains one-half troy ounce of fine gold.
(9) A ten dollar gold coin that is 22.0 millimeters in diameter, weighs 8.483 grams, and contains one-fourth troy ounce of fine gold.
(10) A five dollar gold coin that is 16.5 millimeters in diameter, weighs 3.393 grams, and contains one-tenth troy ounce of fine gold.
(11) A $50 gold coin that is of an appropriate size and thickness, as determined by the Secretary, weighs 1 ounce, and contains 99.99 percent pure gold.
(12) A $25 coin of an appropriate size and thickness, as determined by the Secretary, that weighs 1 troy ounce and contains .9995 fine palladium.
(b) The half dollar, quarter dollar, and dime coins are clad coins with 3 layers of metal. The 2 identical outer layers are an alloy of 75 percent copper and 25 percent nickel. The inner layer is copper. The outer layers are metallurgically bonded to the inner layer and weigh at least 30 percent of the weight of the coin. The dollar coin shall be golden in color, have a distinctive edge, have tactile and visual features that make the denomination of the coin readily discernible, be minted and fabricated in the United States, and have similar metallic, anti-counterfeiting properties as United States coinage in circulation on the date of enactment of the United States $1 Coin Act of 1997. The 5-cent coin is an alloy of 75 percent copper and 25 percent nickel. In minting 5-cent coins, the Secretary shall use bars that vary not more than 2.5 percent from the percent of nickel required. Except as provided under subsection (c) of this section, the one-cent coin is an alloy of 95 percent copper and 5 percent zinc. In minting gold coins, the Secretary shall use alloys that vary not more than 0.1 percent from the percent of gold required. The specifications for alloys are by weight.
(c) The Secretary may prescribe the weight and the composition of copper and zinc in the alloy of the one-cent coin that the Secretary decides are appropriate when the Secretary decides that a different weight and alloy of copper and zinc are necessary to ensure an adequate supply of one-cent coins to meet the needs of the United States.
(d)(1) United States coins shall have the inscription "In God We Trust". The obverse side of each coin shall have the inscription "Liberty". The reverse side of each coin shall have the inscriptions "United States of America" and "E Pluribus Unum" and a designation of the value of the coin. The design on the reverse side of the dollar, half dollar, and quarter dollar is an eagle. Subject to other provisions of this subsection, the obverse of any 5-cent coin issued after December 31, 2005, shall bear the likeness of Thomas Jefferson and the reverse of any such 5-cent coin shall bear an image of the home of Thomas Jefferson at Monticello. The Secretary of the Treasury, in consultation with the Congress, shall select appropriate designs for the obverse and reverse sides of the dollar coin. The coins have an inscription of the year of minting or issuance. However, to prevent or alleviate a shortage of a denomination, the Secretary may inscribe coins of the denomination with the year that was last inscribed on coins of the denomination.
(2) The Secretary shall prepare the devices, models, hubs, and dies for coins, emblems, devices, inscriptions, and designs authorized under this chapter. The Secretary may, after consulting with the Citizens Coinage Advisory Committee and the Commission of Fine Arts, adopt and prepare new designs or models of emblems or devices that are authorized in the same way as when new coins or devices are authorized. The Secretary may change the design or die of a coin only once within 25 years of the first adoption of the design, model, hub, or die for that coin. The Secretary may procure services under section 3109 of title 5 in carrying out this paragraph.
(e) Notwithstanding any other provision of law, the Secretary shall mint and issue, in qualities and quantities that the Secretary determines are sufficient to meet public demand, coins which—
(1) are 40.6 millimeters in diameter and weigh 31.103 grams;
(2) contain .999 fine silver;
(3) have a design—
(A) symbolic of Liberty on the obverse side; and
(B) of an eagle on the reverse side;
(4) have inscriptions of the year of minting or issuance, and the words "Liberty", "In God We Trust", "United States of America", "1 Oz. Fine Silver", "E Pluribus Unum", and "One Dollar"; and
(5) have reeded edges.
(f)
(1)
(2)
(3)
(g) For purposes of section 5132(a)(1) of this title, all coins minted under subsection (e) of this section shall be considered to be numismatic items.
(h) The coins issued under this title shall be legal tender as provided in section 5103 of this title.
(i)(1) Notwithstanding section 5111(a)(1) of this title, the Secretary shall mint and issue the gold coins described in paragraphs (7), (8), (9), and (10) of subsection (a) of this section, in qualities and quantities that the Secretary determines are sufficient to meet public demand, and such gold coins shall—
(A) have a design determined by the Secretary, except that the fifty dollar gold coin shall have—
(i) on the obverse side, a design symbolic of Liberty; and
(ii) on the reverse side, a design representing a family of eagles, with the male carrying an olive branch and flying above a nest containing a female eagle and hatchlings;
(B) have inscriptions of the denomination, the weight of the fine gold content, the year of minting or issuance, and the words "Liberty", "In God We Trust", "United States of America", and "E Pluribus Unum"; and
(C) have reeded edges.
(2)(A) The Secretary shall sell the coins minted under this subsection to the public at a price equal to the market value of the bullion at the time of sale, plus the cost of minting, marketing, and distributing such coins (including labor, materials, dies, use of machinery, and promotional and overhead expenses).
(B) The Secretary shall make bulk sales of the coins minted under this subsection at a reasonable discount.
(3) For purposes of section 5132(a)(1) of this title, all coins minted under this subsection shall be considered to be numismatic items.
(4)(A) Notwithstanding any other provision of law and subject to subparagraph (B), the Secretary of the Treasury may change the diameter, weight, or design of any coin minted under this subsection or the fineness of the gold in the alloy of any such coin if the Secretary determines that the specific diameter, weight, design, or fineness of gold which differs from that otherwise required by law is appropriate for such coin.
(B) The Secretary may not mint any coin with respect to which a determination has been made by the Secretary under subparagraph (A) before the end of the 30-day period beginning on the date a notice of such determination is published in the Federal Register.
(C) The Secretary may continue to mint and issue coins in accordance with the specifications contained in paragraphs (7), (8), (9), and (10) of subsection (a) and paragraph (1)(A) of this subsection at the same time the Secretary in minting and issuing other bullion and proof gold coins under this subsection in accordance with such program procedures and coin specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary's discretion, may prescribe from time to time.
(j)
(1)
(2)
(k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary's discretion, may prescribe from time to time.
(l)
(1)
(A)
(B)
(C)
(i) the inscription described in the second sentence of subsection (d)(1) appears on the reverse side of any such quarter dollars; and
(ii) any inscription described in the third sentence of subsection (d)(1) or the designation of the value of the coin appears on the obverse side of any such quarter dollars.
(2)
(3)
(A)
(B)
(4)
(A)
(i) selected by the Secretary after consultation with—
(I) the Governor of the State being commemorated, or such other State officials or group as the State may designate for such purpose; and
(II) the Commission of Fine Arts; and
(ii) reviewed by the Citizens Coinage Advisory Committee.
(B)
(C)
(D)
(E)
(5)
(6)
(A)
(B)
(C)
(7)
(m)
(1)
(2)
(A)
(i) not more than 750,000 clad half-dollar coins;
(ii) not more than 500,000 silver one-dollar coins; and
(iii) not more than 100,000 gold five-dollar or ten-dollar coins.
(B)
(C)
(n)
(1)
(A) have designs on the obverse selected in accordance with paragraph (2)(B) which are emblematic of the Presidents of the United States; and
(B) have a design on the reverse selected in accordance with paragraph (2)(A).
(2)
(A)
(i) a likeness of the Statue of Liberty extending to the rim of the coin and large enough to provide a dramatic representation of Liberty while not being large enough to create the impression of a "2-headed" coin;
(ii) the inscription "$1"; and
(iii) the inscription "United States of America".
(B)
(i) the name and likeness of a President of the United States; and
(ii) basic information about the President, including—
(I) the dates or years of the term of office of such President; and
(II) a number indicating the order of the period of service in which the President served.
(C)
(i)
(ii)
(D)
(E)
(F)
(3)
(A)
(B)
(i)
(ii)
(4)
(A)
(B)
(5)
(6)
(7)
(8)
(9)
(o)
(1)
(2)
(A) have the same diameter as the $1 coins described in subsection (n);
(B) weigh 0.5 ounce; and
(C) contain 99.99 percent pure gold.
(3)
(A)
(i) the name and likeness of a person who was a spouse of a President during the President's period of service;
(ii) an inscription of the years during which such person was the spouse of a President during the President's period of service; and
(iii) a number indicating the order of the period of service in which such President served.
(B)
(i) images emblematic of the life and work of the First Spouse whose image is borne on the obverse; and
(ii) the inscription "United States of America".
(C)
(D)
(i) the image on the obverse of the bullion coin corresponding to the $1 coin relating to such President shall be an image emblematic of the concept of "Liberty"—
(I) as represented on a United States coin issued during the period of service of such President; or
(II) as represented, in the case of President Chester Alan Arthur, by a design incorporating the name and likeness of Alice Paul, a leading strategist in the suffrage movement, who was instrumental in gaining women the right to vote upon the adoption of the 19th amendment and thus the ability to participate in the election of future Presidents, and who was born on January 11, 1885, during the term of President Arthur; and
(ii) the reverse of such bullion coin shall be of a design representative of themes of such President, except that in the case of the bullion coin referred to in clause (i)(II) the reverse of such coin shall be representative of the suffrage movement.
(E)
(F)
(4)
(A) the face value of the coins; and
(B) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).
(5)
(A)
(B)
(i) prescribe, on the basis of such factors as the Secretary determines to be appropriate, the maximum number of bullion coins that shall be issued with each of the designs selected under this subsection; and
(ii) announce, before the issuance of the bullion coins of each such design, the maximum number of bullion coins of that design that will be issued.
(C)
(6)
(7)
(A)
(B)
(8)
(9)
(10)
(p)
(1)
(A) any business operations conducted by any such agency, instrumentality, system, or entity that involve coins or currency will be fully capable of—
(i) accepting $1 coins in connection with such operations; and
(ii) other than vending machines that do not receive currency denominations higher than $1, dispensing $1 coins in connection with such operations; and
(B) display signs and notices denoting such capability on the premises where coins or currency are accepted or dispensed, including on each vending machine.
This paragraph does not apply with respect to business operations conducted by any entity under a contract with an agency or instrumentality of the United States, including with any nonappropriated fund instrumentality established under title 10.
(2)
(3)
(A) consulting, to accurately gauge demand for coins and to anticipate and eliminate obstacles to the easy and efficient distribution and circulation of $1 coins as well as all other circulating coins, from time to time but no less frequently than annually, with a coin users group, which may include—
(i) representatives of merchants who would benefit from the increased usage of $1 coins;
(ii) vending machine and other coin acceptor manufacturers;
(iii) vending machine owners and operators;
(iv) transit officials;
(v) municipal parking officials;
(vi) depository institutions;
(vii) coin and currency handlers;
(viii) armored-car operators;
(ix) car wash operators; and
(x) coin collectors and dealers;
(B) submitting an annual report to the Congress containing—
(i) an assessment of the remaining obstacles to the efficient and timely circulation of coins, particularly $1 coins;
(ii) an assessment of the extent to which the goals of subparagraph (C) are being met; and
(iii) such recommendations for legislative action the Board and the Secretary may determine to be appropriate;
(C) consulting with industry representatives to encourage operators of vending machines and other automated coin-accepting devices in the United States to accept coins issued under the Presidential $1 Coin Program established under subsection (n) and any coins bearing any design in effect before the issuance of coins required under subsection (n) (including the so-called "Sacagawea-design" $1 coins), and to include notices on the machines and devices of such acceptability;
(D) ensuring that—
(i) during an introductory period, all institutions that want unmixed supplies of each newly-issued design of $1 coins minted under subsections (n) and (o) are able to obtain such unmixed supplies; and
(ii) circulating coins will be available for ordinary commerce in packaging of sizes and types appropriate for and useful to ordinary commerce, including rolled coins;
(E) working closely with any agency, instrumentality, system, or entity referred to in paragraph (1) to facilitate compliance with the requirements of such paragraph; and
(F) identifying, analyzing, and overcoming barriers to the robust circulation of $1 coins minted under subsections (n) and (o), including the use of demand prediction, improved methods of distribution and circulation, and improved public education and awareness campaigns.
(4)
(5)
(q)
(1)
(2)
(A)
(B)
(i) have inscriptions of the weight of the coin and the nominal denomination of the coin incused in that portion of the design on the reverse of the coin commonly known as the "grassy mound"; and
(ii) bear such other inscriptions as the Secretary determines to be appropriate.
(3)
(A)
(B)
(4)
(A) the market value of the bullion at the time of sale; and
(B) the cost of designing and issuing the coins, including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping.
(5)
(6)
(r)
(1)
(A)
(i) have as the designs on the obverse the so-called "Sacagawea design"; and
(ii) have a design on the reverse selected in accordance with paragraph (2)(A), subject to paragraph (3)(A).
(B)
(2)
(A)
(i) images celebrating the important contributions made by Indian tribes and individual Native Americans to the development of the United States and the history of the United States;
(ii) the inscription "$1"; and
(iii) the inscription "United States of America".
(B)
(i) be chosen by the Secretary, after consultation with the Commission of Fine Arts and review by the Citizens Coinage Advisory Committee; and
(ii) contain the so-called "Sacagawea design" and the inscription "Liberty".
(C)
(i)
(ii)
(D)
(i) shall be chosen by the Secretary after consultation with the Committee on Indian Affairs of the Senate, the Congressional Native American Caucus of the House of Representatives, the Commission of Fine Arts, and the National Congress of American Indians;
(ii) shall be reviewed by the Citizens Coinage Advisory Committee;
(iii) may depict individuals and events such as—
(I) the creation of Cherokee written language;
(II) the Iroquois Confederacy;
(III) Wampanoag Chief Massasoit;
(IV) the "Pueblo Revolt";
(V) Olympian Jim Thorpe;
(VI) Ely S. Parker, a general on the staff of General Ulysses S. Grant and later head of the Bureau of Indian Affairs; and
(VII) code talkers who served the United States Armed Forces during World War I and World War II; and
(iv) in the case of a design depicting the contribution of an individual Native American to the development of the United States and the history of the United States, shall not depict the individual in a size such that the coin could be considered to be a "2-headed" coin.
(E)
(3)
(A)
(B)
(C)
(i) shall be issued, to the maximum extent practicable, in the chronological order in which the Native Americans lived or the events occurred, until the termination of the coin program described in subsection (n); and
(ii) thereafter shall be issued in any order determined to be appropriate by the Secretary, after consultation with the Committee on Indian Affairs of the Senate, the Congressional Native American Caucus of the House of Representatives, and the National Congress of American Indians.
(4)
(5)
(s)
(1)
(A)
(B)
(i) the inscription described in the second sentence of subsection (d)(1) appears on the reverse side of any such quarter dollars; and
(ii) any inscription described in the third sentence of subsection (d)(1) or the designation of the value of the coin appears on the obverse side of any such quarter dollars.
(2)
(3)
(A)
(i) selected by the Secretary after consultation with—
(I) the chief executive of the District of Columbia or the territory being honored, or such other officials or group as the chief executive officer of the District of Columbia or the territory may designate for such purpose; and
(II) the Commission of Fine Arts; and
(ii) reviewed by the Citizens Coinage Advisory Committee.
(B)
(C)
(D)
(E)
(4)
(5)
(A)
(B)
(C)
(6)
(A)
(B)
(7)
(t)
(1)
(A)
(B)
(i) the inscription described in the second sentence of subsection (d)(1) appears on the reverse side of any such quarter dollars; and
(ii) any inscription described in the third sentence of subsection (d)(1) or the designation of the value of the coin appears on the obverse side of any such quarter dollars.
(C)
(2)
(3)
(A)
(i)
(ii)
(B)
(i) selected by the Secretary after consultation with—
(I) the Secretary of the Interior; and
(II) the Commission of Fine Arts; and
(ii) reviewed by the Citizens Coinage Advisory Committee.
(C)
(D)
(E)
(F)
(4)
(A)
(B)
(C)
(5)
(6)
(A)
(B)
(7)
(A)
(B)
(i)
(ii)
(iii)
(iv)
(8)
(A) the obverse of the quarter dollar shall revert to the same design containing an image of President Washington in effect for the quarter dollar before the institution of the 50-State quarter dollar program; and
(B) notwithstanding the fourth sentence of subsection (d)(1), the reverse of the quarter dollar shall contain an image of General Washington crossing the Delaware River prior to the Battle of Trenton.
(9)
(10)
(u)
(1)
(A) have a diameter of 3.0 inches and weigh 5.0 ounces;
(B) contain .999 fine silver;
(C) have incused into the edge the fineness and weight of the bullion coin; and
(D) bear an inscription of the denomination of such coins, such denominations to be determined by the Secretary as the Secretary determines to be appropriate.
(2)
(3)
(4)
(v)
(1)
(2)
(A)
(B)
(3)
(A) the market value of the bullion at the time of sale; and
(B) the cost of designing and issuing the coins, including labor, materials, dies, use of machinery, overhead expenses, marketing, distribution, and shipping.
(4)
(5)
(6)
(A) the obverse shall bear a high-relief likeness of the "Winged Liberty" design used on the obverse of the so-called "Mercury dime";
(B) the reverse shall bear a high-relief version of the reverse design of the 1907 American Institute of Architects medal; and
(C) the coin shall bear such other inscriptions, including "Liberty", "In God We Trust", "United States of America", the denomination and weight of the coin and the fineness of the metal, as the Secretary determines to be appropriate and in keeping with the original design.
(7)
(w)
(1)
(A)
(i) have designs on the obverse selected in accordance with paragraph (2)(A); and
(ii) have a design on the reverse selected in accordance with paragraph (2)(B).
(B)
(i)
(ii)
(I) has the obverse described under paragraph (2)(A);
(II) has a reverse that bears the inscription "United States of America" and "American Innovators" and a representation of the signature of President George Washington on the first United States patent issued;
(III) has the edge-incusing described under paragraph (2)(C); and
(IV) the design for which has reviewed by 3 the Citizens Coinage Advisory Committee.
(C)
(2)
(A)
(i) a likeness of the Statue of Liberty extending to the rim of the coin and large enough to provide a dramatic representation of Liberty;
(ii) the inscription "$1"; and
(iii) the inscription "In God We Trust".
(B)
(i) An image or images emblematic of one of the following from one of the 50 States, the District of Columbia, or the territories of the United States:
(I) A significant innovation.
(II) An innovator.
(III) A group of innovators.
(ii) The name of the State, the District of Columbia, or territory, as applicable.
(iii) The inscription "United States of America".
(C)
(i)
(ii)
(3)
(A)
(i)
(I)
(II)
(ii)
(iii)
(I) if any territory becomes independent or otherwise ceases to be a territory of the United States before $1 coins are minted pursuant to this subsection, the subsection shall cease to apply with respect to such territory; and
(II) if any new territory is added to the United States, $1 coins shall be issued for such territories in the order in which the new the territories are added, beginning after the $1 coin is issued for the Commonwealth of the Northern Mariana Islands.
(B)
(i)
(ii)
(4)
(A)
(B)
(i) consultation with—
(I) the Governor or other chief executive of the State, the District of Columbia, or territory with respect to which a coin is to be issued under this subsection; and
(II) the Commission of Fine Arts; and
(ii) review by the Citizens Coinage Advisory Committee.
(C)
(D)
(E)
(5)
(6)
(7)
(x)
(1)
(A)
(B)
(i) the inscription described in the second sentence of subsection (d)(1) appears on the reverse side of any such quarter dollar; and
(ii) any of the inscriptions described in the third sentence of subsection (d)(1) or the designation of the value of the coin appear on the obverse side of any such quarter dollar.
(C)
(D)
(E)
(i) in accordance with a selection process developed by the Secretary;
(ii) after soliciting recommendations from the general public for prominent women designs for quarter dollars; and
(iii) in consultation with the Smithsonian Institution American Women's History Initiative, National Women's History Museum, and the Bipartisan Women's Caucus.
(2)
(A)
(B)
(3)
(4)
(A)
(B)
(y)
(1)
(A)
(i) Notwithstanding the 4th, 5th, and 6th sentences of subsection (d)(1), the Secretary may change the design on any of the coins authorized under this section and minted for issuance during the one-year period beginning January 1, 2026, in celebration of the United States semiquincentennial.
(ii) Notwithstanding the 2nd and 3rd sentences of subsection (d)(1), the Secretary may place the required inscriptions on either the obverse or reverse sides of the coins authorized for redesign under this subsection.
(B)
(C)
(D)
(E)
(2)
(A)
(B)
(z)
(1)
(A)
(B)
(i) the inscription described in the second sentence of subsection (d)(1) appears on the reverse side of any such quarter dollars; and
(ii) any of the inscriptions described in the third sentence of subsection (d)(1) or the designation of the value of the coin appear on the obverse side of any such quarter dollars.
(C)
(D)
(E)
(2)
(A)
(B)
(i) the inscription described in the second sentence of subsection (d)(1) appears on the reverse side of any such half dollars; and
(ii) any of the inscriptions described in the third sentence of subsection (d)(1) or the designation of the value of the coin appear on the obverse side of any such half dollars.
(C)
(D)
(3)
(A)
(B)
(C)
(4)
(A)
(B)
(5)
(A)
(B)
(6)
(7)
(A)
(B)
(C)
(D)
(8)
(A)
(i)
(ii)
(B)
(i)
(ii)
(aa)
(1)
(2)
(3)
(A)
(B)
(C)
(D)
(4)
(5)
(6)
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 981; Pub. L. 97–452, §1(20), Jan. 12, 1983, 96 Stat. 2477; Pub. L. 99–61, title II, §202, July 9, 1985, 99 Stat. 115; Pub. L. 99–185, §2(a), (b), Dec. 17, 1985, 99 Stat. 1177; Pub. L. 100–274, §§4(a), 6, Mar. 31, 1988, 102 Stat. 50; Pub. L. 102–390, title II, §§226(a), 227, 228, Oct. 6, 1992, 106 Stat. 1630; Pub. L. 103–272, §4(f)(1)(R), July 5, 1994, 108 Stat. 1362; Pub. L. 104–208, div. A, title I, §101(f) [title V, §§523, 524, 529(a)], Sept. 30, 1996, 110 Stat. 3009–314, 3009–347 to 3009–349; Pub. L. 105–124, §§3, 4(b)–(d), Dec. 1, 1997, 111 Stat. 2534, 2536; Pub. L. 105–176, May 29, 1998, 112 Stat. 104; Pub. L. 106–445, §2(b), Nov. 6, 2000, 114 Stat. 1931; Pub. L. 108–15, title I, §§102, 103(d)(1), Apr. 23, 2003, 117 Stat. 615, 619; Pub. L. 109–145, title I, §§102–104, title II, §201, Dec. 22, 2005, 119 Stat. 2665–2669, 2672; Pub. L. 110–82, §§2, 3, Sept. 20, 2007, 121 Stat. 777, 779; Pub. L. 110–147, Dec. 21, 2007, 121 Stat. 1817; Pub. L. 110–161, div. D, title VI, §§622–623(b), Dec. 26, 2007, 121 Stat. 2016, 2018; Pub. L. 110–456, title I, §102, title II, §201, Dec. 23, 2008, 122 Stat. 5039, 5042; Pub. L. 111–8, div. D, title VI, §616, Mar. 11, 2009, 123 Stat. 677; Pub. L. 111–302, §§4, 5, Dec. 14, 2010, 124 Stat. 3273; Pub. L. 111–303, §2, Dec. 14, 2010, 124 Stat. 3275; Pub. L. 114–94, div. G, title LXXIII, §73001(1), Dec. 4, 2015, 129 Stat. 1785; Pub. L. 115–91, div. A, title VIII, §885, Dec. 12, 2017, 131 Stat. 1505; Pub. L. 115–197, §2, July 20, 2018, 132 Stat. 1515; Pub. L. 115–232, div. A, title X, §1081(e)(1), Aug. 13, 2018, 132 Stat. 1986; Pub. L. 116–330, §§2–6, Jan. 13, 2021, 134 Stat. 5101–5106.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5112(a) | 31:317(a)(1st, last sentences). | R.S. §3515(a); Sept. 26, 1890, ch. 945, §1, 26 Stat. 485; Sept. 5, 1962, Pub. L. 87–643, §1, 76 Stat. 440; Oct. 11, 1974, Pub. L. 93–441, §1, 88 Stat. 1261. |
| 31:391(c). | July 23, 1965, Pub. L. 89–81, §101(c), 79 Stat. 255; restated Dec. 31, 1970, Pub. L. 91–607, §201, 84 Stat. 1768; Oct. 10, 1978, Pub. L. 95–447, §2, 92 Stat. 1072. | |
| 5112(b) | 31:317(a)(2d, 3d sentences). | |
| 31:346. | R.S. §3533; June 14, 1947, ch. 104, §1, 61 Stat. 132. | |
| 31:391(b). | July 23, 1965, Pub. L. 89–81, §101(b), (d), 79 Stat. 254; restated Dec. 31, 1970, Pub. L. 91–607, §201, 84 Stat. 1768. | |
| 31:398(1)–(4), (6). | July 23, 1965, Pub. L. 89–81, §108(1)–(4), (6), 79 Stat. 255. | |
| 5112(c) | 31:317(b). | R.S. §3515(b); added Oct. 11, 1974, Pub. L. 93–441, §1, 88 Stat. 1261. |
| 5112(d)(1) | 31:324. | R.S. §3517; Mar. 3, 1887, ch. 396, §3, 24 Stat. 635; Sept. 26, 1890, ch. 945, §1, 26 Stat. 485; May 18, 1908, ch. 173, 35 Stat. 164; restated July 23, 1965, Pub. L. 89–81, §204(a), 79 Stat. 256; Dec. 31, 1970, Pub. L. 91–607, §206, 84 Stat. 1769. |
| 31:324b–1. | Oct. 10, 1978, Pub. L. 95–447, §3, 92 Stat. 1072. | |
| 5112(d)(2) | 31:276. | R.S. §3510; restated Sept. 26, 1890, ch. 944, 26 Stat. 484. |
| 5112(e) | 31:324b. | Dec. 31, 1970, Pub. L. 91–607, §203, 84 Stat. 1769; Oct. 10, 1978, Pub. L. 95–447, §4, 92 Stat. 1072. |
| 31:324c. | Dec. 31, 1970, Pub. L. 91–607, §209, 84 Stat. 1769. | |
| 31:391(d). | ||
| 31:398(3), (4). | ||
| 5112(f) | 31:321. | R.S. §3514; Jan. 30, 1934, ch. 6, §5, 48 Stat. 340. |
| 31:399. | July 23, 1965, Pub. L. 89–81, 79 Stat. 254, §109; added Dec. 23, 1981, Pub. L. 97–104, §2, 95 Stat. 1491. |
In subsection (a), the words before clause (1) are added because of the restatement. In clause (5), the words "that is 0.835 inch in diameter" are added because the Secretary of the Treasury has prescribed the diameter and the diameter of a coin may not be changed under 31:276. The words "5 grams" are substituted for "seventy-seven and sixteen-hundredths grains troy" for consistency in the revised chapter. In clause (6), the words "that is 0.75 inch in diameter" are added because the Secretary has prescribed the diameter and the diameter of a coin may not be changed under 31:276. The words "except as provided under subsection (c) of this section" are added for clarity and because of the restatement. The words "3.11 grams" are substituted for "forty-eight grains" for consistency in the revised chapter.
In subsection (b), the words "In minting 5-cent coins" are substituted for "in minor-coinage alloys" in 31:346 because 5-cent coins are the minor coins composed of nickel. The words "Secretary shall use" are substituted for "shall be used" because of the source provisions restated in section 321 of the revised title. The word "bars" is substituted for "ingots" for consistency in the revised chapter. The words "2.5 percent" are substituted for "twenty-five thousandths" for consistency in the revised title and with other titles of the United States Code. The words "from the percent of nickel required" are substituted for "the legal standard . . . in the proportion of nickel" because of the restatement. The words "In silver ingots, six-thousandths" are omitted as superseded by the source provisions restated in the section. The words "In gold ingots, one-thousandth" in section 3533 of the Revised Statutes are omitted because gold coinage was discontinued by 31:315b. The words "Except as provided in subsection (c) of this section" are added for clarity and because of the restatement.
In subsection (c), the words "a different weight and alloy of copper and zinc" are substituted for "such action" for clarity.
In subsection (d)(1), the words "an impression emblematic of liberty" in 31:324 are omitted as obsolete. The words "The design on the reverse side of the dollar, half dollar, and quarter dollar is an eagle" are substituted for "and upon the reverse side shall be the figure or representation of an eagle . . . but on the dime, 5-, and 1-cent piece, the figure of the eagle shall be omitted", and the words "The emblem on the obverse side of the dollar is" are substituted for "The one-dollar coin authorized by section 391(c) of this title shall bear on the obverse side" in 31:324b–1, to eliminate unnecessary words. The words "Any coins minted after July 23, 1965, from 900 fine coin silver shall be inscribed with the year 1964" in 31:324 are omitted because the Secretary no longer has authority to mint coins from 900 fine coin silver.
In subsection (d)(2), the word "Secretary" is substituted for "engraver", "Director of the Mint", and "Director of the Mint . . . with the approval of the Secretary of the Treasury" because of the source provisions restated in section 321(c) of the revised title. The word "dies" is substituted for "from the original dies already authorized all the working dies required for use in the coinage of the several mints" and "original dies" to eliminate unnecessary words. The word "inscription" is substituted for "legend" for consistency in the section. The words "Provided, That no change be made in the diameter of any coin" are omitted as unnecessary because the diameters are prescribed by subsection (a) of the revised section. The words "procure services under section 3109 of title 5 in carrying out this paragraph" are substituted for "engage temporarily for this purpose the services of one or more artists, distinguished in their respective departments of art" to eliminate unnecessary words. The words "who shall be paid for such service from the contingent appropriation for the mint at Philadelphia" are omitted as obsolete. The text of section 3510(2d proviso) of the Revised Statutes is omitted as executed.
In subsection (e)(2), the words "80 percent" are substituted for "eight hundred parts" in 31:391(d), and the words "20 percent" are substituted for "two hundred parts", for consistency in the revised title and with other titles of the Code. The words "that are metallurgically bonded to" are added for clarity and consistency with subsection (b). In clause (4), the words "the late President of the United States" in 31:324b are omitted as unnecessary. Clause (6) is added because 31:324 applies to coins minted under this subsection.
In subsection (f)(1), before clause (A), the words "Notwithstanding this section and section 5111(a)(1) of this title are substituted for "Notwithstanding any other provision of law" in 31:399 for clarity. In clause (B), the words "are an alloy of 90 percent silver and 10 percent copper" are substituted for "be minted in accordance with the standard established in section 3514 of the Revised Statutes (31 U.S.C. 321)" and 31:321 to eliminate unnecessary words and for clarity. In clause (C), the word "symbolizing" is substituted for "emblematic" for clarity.
In subsection (f)(2), the words "under such regulations as he may prescribe" are omitted as unnecessary because of section 321 of the revised title. The word "Treasury" is substituted for "general fund of the Treasury" to eliminate unnecessary words.
The text of 31:399(b)(3) is omitted as unnecessary because of section 5103 of the revised title.
This amends 31:5112(f)(1) to make technical and conforming changes.
The date of enactment of the United States $1 Coin Act of 1997, referred to in subsec. (b), is the date of enactment of Pub. L. 105–124, which was approved Dec. 1, 1997.
The Strategic and Critical Materials Stock Piling Act, referred to in subsec. (l)(6)(C), is act June 7, 1939, ch. 190, as revised generally by Pub. L. 96–41, §2, July 30, 1979, 93 Stat. 319, which is classified generally to subchapter III (§98 et seq.) of chapter 5 of Title 50, War and National Defense. For complete classification of this Act to the Code, see section 98 of Title 50 and Tables.
This Act, referred to in subsec. (o)(6), probably means Pub. L. 109–145, Dec. 22, 2005, 119 Stat. 2664, known as the Presidential $1 Coin Act of 2005, which amended this section and enacted provisions set out as notes under this section. For complete classification of this Act to the Code, see Short Title of 2005 Amendment note set out under section 5101 of this title and Tables.
The date of enactment of the Presidential $1 Coin Act of 2005, referred to in subsec. (q)(1), is the date of enactment of Pub. L. 109–145, which was approved Dec. 22, 2005.
The date of the enactment of the Native American $1 Coin Act, referred to in subsec. (r)(1)(B), is the date of enactment of Pub. L. 110–82, which was approved Sept. 20, 2007.
Section 3 of the Federal Deposit Insurance Act, referred to in subsec. (t)(1)(C), is classified to section 1813 of Title 12, Banks and Banking.
The date of the enactment of the America's Beautiful National Parks Quarter Dollar Coin Act of 2008, referred to in subsec. (t)(3)(A)(ii), is the date of enactment of Pub. L. 110–456, which was approved Dec. 23, 2008.
This Act, referred to in subsec. (z)(2)(A), probably means Pub. L. 116–330, Jan. 13, 2021, 134 Stat. 5101, section 4 of which enacted subsec. (z) of this section. The term "Paralympic" does not appear in Pub. L. 116–330 outside the enacted text of subsec. (z).
2021—Subsec. (u). Pub. L. 116–330, §5, added subsec. (u) and struck out former subsec. (u) which related to silver bullion investment product, specifying bullion coins that are likenesses of the quarter dollars issued under subsection (t), their availability for sale, and distribution.
Subsec. (x). Pub. L. 116–330, §2, added subsec. (x).
Subsec. (y). Pub. L. 116–330, §3, added subsec. (y).
Subsec. (z). Pub. L. 116–330, §4, added subsec. (z).
Subsec. (aa). Pub. L. 116–330, §6, added subsec. (aa).
2018—Subsec. (p)(1). Pub. L. 115–232 struck out ", United States Code" after "title 10" in introductory and concluding provisions.
Subsec. (w). Pub. L. 115–197 added subsec. (w).
2017—Subsec. (p)(1). Pub. L. 115–91, §885(a), (b), in introductory provisions, inserted "and" before "all transit systems" and struck out "and all entities that operate any business, including vending machines, on any premises owned by the United States or under the control of any agency or instrumentality of the United States, including the legislative and judicial branches of the Federal Government," after "Mass Transit Account," and inserted concluding provisions.
Subsec. (p)(1)(B). Pub. L. 115–91, §885(c), substituted "display" for "displays".
2015—Subsec. (q)(3) to (8). Pub. L. 114–94, §73001(1)(A), redesignated pars. (4) to (7) as (3) to (6), respectively, and struck out former pars. (3) and (8), which related to subsequent designs and protective covering, respectively.
Subsec. (t)(6)(B). Pub. L. 114–94, §73001(1)(B), substituted "not less than 90 percent silver" for "90 percent silver and 10 percent copper".
Subsec. (v)(1). Pub. L. 114–94, §73001(1)(C)(i), substituted "The Secretary shall" for "Subject to the submission to the Secretary and the Congress of a marketing study described in paragraph (8), beginning not more than 1 year after the submission of the study to the Secretary and the Congress, the Secretary shall".
Subsec. (v)(2)(A). Pub. L. 114–94, §73001(1)(C)(ii), substituted "To the greatest extent possible, the Secretary" for "The Secretary".
Subsec. (v)(5). Pub. L. 114–94, §73001(1)(C)(iii), inserted "collectible versions of" after "may issue".
Subsec. (v)(8). Pub. L. 114–94, §73001(1)(C)(iv), struck out par. (8). Text read as follows: "The market study described in paragraph (1) means an analysis of the market for palladium bullion investments conducted by a reputable, independent third party that demonstrates that there would be adequate demand for palladium bullion coins produced by the United States Mint to ensure that such coins could be minted and issued at no net cost to taxpayers."
2010—Subsec. (a)(12). Pub. L. 111–303, §2(1), added par. (12).
Subsec. (e). Pub. L. 111–302, §4, substituted "qualities and quantities that the Secretary determines are" for "quantities" in introductory provisions.
Subsec. (i). Pub. L. 111–302, §4, which directed amendment of subsec. (i) by substituting "qualities and quantities that the Secretary determines are" for "quantities", was executed by making the substitution in introductory provisions of par. (1) to reflect the probable intent of Congress.
Subsec. (u)(1). Pub. L. 111–302, §5(1), substituted "likenesses" for "exact duplicates" in introductory provisions.
Subsec. (u)(1)(A). Pub. L. 111–302, §5(4), substituted "determined by the Secretary that is no less than 2.5 inches and no greater than 3.0 inches" for "of 3.0 inches".
Subsec. (u)(1)(C) to (E). Pub. L. 111–302, §5(2), (3), redesignated subpars. (D) and (E) as (C) and (D), respectively, and struck out former subpar. (C) which read as follows: "have incused into the edge the fineness and weight of the bullion coin;".
Subsec. (v). Pub. L. 111–303, §2(2), added subsec. (v).
2009—Subsecs. (r), (s). Pub. L. 111–8 redesignated subsec. (r) relating to the redesign and issuance of circulating quarter dollar honoring the District of Columbia and territories as (s) and substituted "paragraph (3)" for "paragraph (4)" in subpars. (A) and (B) of par. (5).
2008—Subsec. (t). Pub. L. 110–456, §102, added subsec. (t).
Subsec. (u). Pub. L. 110–456, §201, added subsec. (u).
2007—Subsec. (n)(1). Pub. L. 110–82, §3, redesignated cls. (i) and (ii) of subpar. (A) as subpars. (A) and (B), respectively, struck out heading and designation of former subpar. (A), and struck out former subpar. (B), which related to continuity provisions concerning the " 'Sacagawea-design' $1 coins".
Subsec. (n)(2)(C)(i). Pub. L. 110–161, §623(a)(1)(A), substituted "and the inscription" for "and the inscriptions" and struck out "and 'In God We Trust' " before "shall be edge-incused".
Subsec. (n)(2)(F). Pub. L. 110–161, §623(a)(2), added subpar. (F).
Subsec. (p)(1)(A). Pub. L. 110–147 amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: "any business operations conducted by any such agency, instrumentality, system, or entity that involve coins or currency will be fully capable of accepting and dispensing $1 coins in connection with such operations; and".
Subsec. (r). Pub. L. 110–161, §622, added subsec. (r) relating to the redesign and issuance of circulating quarter dollar honoring the District of Columbia and territories.
Pub. L. 110–82, §2, added subsec. (r) relating to the redesign and issuance of circulating $1 coins honoring Native Americans.
Subsec. (r)(2). Pub. L. 110–161, §623(b), substituted "and the inscription" for "and the inscriptions" and struck out "and 'In God We Trust' " before "shall be edge-incused" in subpar. (C)(i), and added subpar (E).
2005—Subsec. (a)(11). Pub. L. 109–145, §201(1), added par. (11).
Subsec. (n). Pub. L. 109–145, §102, added subsec. (n).
Subsec. (o). Pub. L. 109–145, §103, added subsec. (o).
Subsec. (p). Pub. L. 109–145, §104, added subsec. (p).
Subsec. (q). Pub. L. 109–145, §201(2), added subsec. (q).
2003—Subsec. (d)(1). Pub. L. 108–15, §102(a), inserted after fourth sentence "Subject to other provisions of this subsection, the obverse of any 5-cent coin issued after December 31, 2005, shall bear the likeness of Thomas Jefferson and the reverse of any such 5-cent coin shall bear an image of the home of Thomas Jefferson at Monticello."
Subsec. (d)(2). Pub. L. 108–15, §102(b), inserted ", after consulting with the Citizens Coinage Advisory Committee and the Commission of Fine Arts," after "The Secretary may" in second sentence.
Subsec. (l)(4)(A)(ii). Pub. L. 108–15, §103(d)(1), substituted "Citizens Coinage Advisory Committee" for "Citizens Commemorative Coin Advisory Committee".
2000—Subsec. (k). Pub. L. 106–445 substituted "platinum bullion coins" for "bullion".
1998—Subsec. (l)(1)(C). Pub. L. 105–176 added subpar. (C).
1997—Subsec. (a)(1). Pub. L. 105–124, §4(b), struck out "and weighs 8.1 grams" after "diameter".
Subsec. (b). Pub. L. 105–124, §4(c), struck out "dollar," before "half dollar" in first sentence and inserted after fourth sentence "The dollar coin shall be golden in color, have a distinctive edge, have tactile and visual features that make the denomination of the coin readily discernible, be minted and fabricated in the United States, and have similar metallic, anti-counterfeiting properties as United States coinage in circulation on the date of enactment of the United States $1 Coin Act of 1997."
Subsec. (d)(1). Pub. L. 105–124, §4(d), substituted "The Secretary of the Treasury, in consultation with the Congress, shall select appropriate designs for the obverse and reverse sides of the dollar coin." for "The eagle on the reverse side of the dollar is the symbolic eagle of Apollo 11 landing on the moon. The obverse side of the dollar has the likeness of Susan B. Anthony."
Subsec. (l). Pub. L. 105–124, §3, added subsec. (l).
1996—Subsec. (i)(4)(C). Pub. L. 104–208, §101(f) [title V, §523], added subpar. (C).
Subsec. (k). Pub. L. 104–208, §101(f) [title V, §524], added subsec. (k).
Subsec. (m). Pub. L. 104–208, §101(f) [title V, §529(a)], added subsec. (m).
1994—Subsec. (h). Pub. L. 103–272 substituted "section 5103 of this title" for "section 5103 of title 31, United States Code".
1992—Subsec. (d)(1). Pub. L. 102–390, §226(a), inserted "shall" before "have" in first sentence and substituted "coin shall have" for "coin has" in second and third sentences.
Subsec. (i)(4). Pub. L. 102–390, §228, added par. (4).
Subsec. (j). Pub. L. 102–390, §227, added subsec. (j).
1988—Subsec. (b). Pub. L. 100–274, §4(a), inserted before last sentence "In minting gold coins, the Secretary shall use alloys that vary not more than 0.1 percent from the percent of gold required."
Subsec. (f). Pub. L. 100–274, §6, inserted heading and amended subsec. (f) generally. Prior to amendment, subsec. (f) read as follows: "The Secretary shall sell the coins minted under subsection (e) to the public at a price equal to the market value of the bullion at the time of sale, plus the cost of minting, marketing, and distributing such coins (including labor, materials, dyes, use of machinery, and overhead expenses)."
1985—Subsec. (a)(7) to (10). Pub. L. 99–185, §2(a), added pars. (7) to (10).
Subsec. (e). Pub. L. 99–61 added subsec. (e). Former subsec. (e), providing for the minting of 150,000,000 silver and copper alloy dollar coins bearing the likeness of Dwight David Eisenhower, was struck out.
Subsec. (f). Pub. L. 99–61 added subsec. (f). Former subsec. (f), providing for the minting of up to 10,000,000 silver and copper alloy half-dollar coins symbolizing the 250th anniversary of the birth of George Washington, was struck out.
Subsecs. (g), (h). Pub. L. 99–61 added subsecs. (g) and (h).
Subsec. (i). Pub. L. 99–185, §2(b), added subsec. (i).
1983—Subsec. (f)(1). Pub. L. 97–452, §1(20)(A), inserted a comma after "10,000,000)" in introductory text.
Subsec. (f)(1)(C). Pub. L. 97–452, §1(20)(B), substituted "250th" for "two hundred and fiftieth".
Pub. L. 110–161, div. D, title VI, §623(c), Dec. 26, 2007, 121 Stat. 2018, provided that: "The change required by the amendments made by subsections (a) and (b) [amending this section] shall be put into effect by the Secretary of the Treasury as soon as is practicable after the date of enactment of this Act [Dec. 26, 2007]."
Pub. L. 104–208, div. A, title I, §101(f) [title V, §529(e)], Sept. 30, 1996, 110 Stat. 3009–314, 3009–353, provided that: "This section [amending this section and sections 5134 and 5135 of this title, enacting provisions set out as a note under section 5134 of this title, and amending provisions set out as a note under this section] and the amendments made by this section shall take effect on the date of enactment of this Act [Sept. 30, 1996]."
Pub. L. 99–185, §3, Dec. 17, 1985, 99 Stat. 1179, provided that: "This Act [amending this section and sections 5116, 5118, and 5132 of this title and enacting provisions set out as notes under this section] shall take effect on October 1, 1985, except that no coins may be issued or sold under section 5112(i) of title 31, United States Code, before October 1, 1986."
Pub. L. 99–61, title II, §205, July 9, 1985, 99 Stat. 117, provided that: "This title [amending this section and sections 5116 and 5132 of this title and enacting provisions set out as a note under this section] shall take effect on October 1, 1985, except that no coins may be issued or sold under subsection (e) of section 5112 of title 31, United States Code, before September 1, 1986, or before the date on which all coins minted under title I of this Act [set out as a note below] have been sold, whichever is earlier."
Pub. L. 99–185, §1, Dec. 17, 1985, 99 Stat. 1177, provided that: "This Act [amending this section and sections 5116, 5118, and 5132 of this title and enacting provisions set out as notes under this section] may be cited as the 'Gold Bullion Coin Act of 1985'."
Pub. L. 99–61, title II, §201, July 9, 1985, 99 Stat. 115, provided that: "This title [amending this section and sections 5116 and 5132 of this title and enacting provisions set out as a note under this section] may be cited as the 'Liberty Coin Act'."
Pub. L. 110–192, Feb. 29, 2008, 122 Stat. 648, provided: "That clause (i) of section 5112(n)(1)(B) of title 31, United States Code (as in effect on the day before the date of the enactment of Public Law 110–82 [Sept. 20, 2007]) shall continue in effect, notwithstanding the amendment made by section 3 of Public Law 110–82 [amending this section], until the effective date of the amendment made by section 2 of such Public Law [amending this section]."
Pub. L. 105–124, §5, Dec. 1, 1997, 111 Stat. 2537, provided that: "Nothing in this Act [see Short Title of 1997 Amendment note set out under section 5101 of this title] or the amendments made by this Act shall be construed to evidence any intention to eliminate or to limit the printing or circulation of United States currency in the $1 denomination."
Pub. L. 116–330, §8, Jan. 13, 2021, 134 Stat. 5108, provided that: "No coin or medal minted and issued under this Act [amending this section and enacting provisions set out as a note under section 5101 of this title], or an amendment made by this Act, may be sold at a price such that would result in a net cost to the Federal Government."
Pub. L. 116–286, Jan. 5, 2021, 134 Stat. 4879, provided that:
"This Act may be cited as the '1921 Silver Dollar Coin Anniversary Act'.
"The Congress finds that [sic] following:
"(1) In December 1921, the Peace silver dollar was approved by Treasury Secretary Andrew Mellon, replacing the Morgan silver dollar and commemorating the declaration of peace between the United States and the Imperial German government.
"(2) The Peace silver dollar was minted in Philadelphia, Denver and San Francisco. The Morgan silver dollar was minted at Philadelphia, Denver, San Francisco, Carson City, and New Orleans.
"(3) The Peace silver dollar was designed by Anthony de Francisci with the Goddess of Liberty on the obverse and a bald eagle clutching the olive branch (a symbol of peace) on the reverse. The Peace silver dollars were minted between 1921 to 1935.
"(4) The Morgan silver dollar was designed by George T. Morgan and was minted from 1878 to 1904, and again in 1921. The obverse depicts a profile portrait of Lady Liberty and on the reverse, a heraldic eagle.
"(5) The conversion from the Morgan silver dollar to the Peace silver dollar design in 1921 reflected a pivotal moment in American history. The Morgan silver dollar represents the country's westward expansion and industrial development in the late 19th century. The Peace silver dollar symbolizes the country's coming of age as an international power while recognizing the sacrifices made by her citizens in World War I and celebrating the victory and peace that ensued.
"(6) These iconic silver dollars with vastly different representations of Lady Liberty and the American Eagle, reflect a changing of the guard in 1921 in the United States and therefore on the 100th anniversary must begin to be minted again to commemorate this significant evolution of American freedom.
"(a) $1
"(1) weigh 26.73 grams;
"(2) have a diameter of 1.500 inches;
"(3) contain not less than 90 percent silver; and
"(4) have a reeded edge.
"(b)
"(c)
"(a)
"(1)
"(A)
"(B)
"(2)
"(A) a designation of the value of the coin;
"(B) an inscription of the year of minting or issuance; and
"(C) inscriptions of the words 'Liberty', 'In God We Trust', 'United States of America', and 'E Pluribus Unum'.
"(b)
"(1) selected by the Secretary after consultation with the Commission of Fine Arts; and
"(2) reviewed by the Citizens Coinage Advisory Committee.
"The Secretary may issue coins minted under this Act beginning on January 1, 2021.
"(a)
"(1) the face value of the coins; and
"(2) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).
"(b)
"The Secretary of the Treasury shall take such actions as may be necessary to ensure that the minting and issuing of coins under the Act will not result in any net cost to the United States Government.
"The budgetary effects of this Act, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010 [2 U.S.C. 931 et seq.], shall be determined by reference to the latest statement titled 'Budgetary Effects of PAYGO Legislation' for this Act, submitted for printing in the Congressional Record by the Chairman of the House Budget Committee, provided that such statement has been submitted prior to the vote on passage."
Pub. L. 116–112, Jan. 27, 2020, 134 Stat. 9, provided that:
"This Act may be cited as the 'President George H.W. Bush and First Spouse Barbara Bush Coin Act'.
"(a)
"(1) the image of President George H.W. Bush; and
"(2) an inscription of the year '2020'.
"(b)
"(1) the image of First Spouse Barbara Bush; and
"(2) an inscription of the year '2020'.
"The Secretary of the Treasury shall take such actions as may be necessary to ensure that the minting and issuing of coins under this Act will not result in any net cost to the United States Government."
Pub. L. 111–302, §2, Dec. 14, 2010, 124 Stat. 3272, provided that:
"(a)
"(1) conduct any appropriate testing of appropriate coinage metallic materials within or outside of the Department of the Treasury; and
"(2) solicit input from or otherwise work in conjunction with entities within or outside of the Federal Government including independent research facilities or current or potential suppliers of the metallic material used in volume production of circulating coins,
to complete the report referred to in this Act [see section 3 of Pub. L. 111–302, set out as a note below] and to develop and evaluate the use of new metallic materials.
"(b)
"(1) Factors relevant to the potential impact of any revisions to the composition of the material used in coin production on the current coinage material suppliers.
"(2) Factors relevant to the ease of use and ability to co-circulate of new coinage materials, including the effect on vending machines and commercial coin processing equipment and making certain, to the greatest extent practicable, that any new coins work without interruption in existing coin acceptance equipment without modification.
"(3) Such other factors that the Secretary of the Treasury, in consultation with merchants who would be affected by any change in the composition of circulating coins, vending machine and other coin acceptor manufacturers, vending machine owners and operators, transit officials, municipal parking officials, depository institutions, coin and currency handlers, armored-car operators, car wash operators, and American-owned manufacturers of commercial coin processing equipment, considers to be appropriate and in the public interest, after notice and opportunity for comment."
Pub. L. 111–302, §3, Dec. 14, 2010, 124 Stat. 3273, provided that:
"(a)
"(b)
"(c)
"(d)
"(e)
"(f)
Pub. L. 110–456, title I, §101, Dec. 23, 2008, 122 Stat. 5038, provided that: "The Congress finds as follows:
"(1) Yellowstone National Park was established by an Act signed by President Ulysses S. Grant on March 1, 1872, as the Nation's first national park.
"(2) The summer and autumn of 1890 saw the establishment of a number of national sites:
"(A) August 19: Chickamauga and Chattanooga established as national military parks in Georgia and Tennessee.
"(B) August 30: Antietam established as a national battlefield site in Maryland.
"(C) September 25: Sequoia National Park established in California.
"(D) September 27: Rock Creek Park established in the District of Columbia.
"(E) October 1: General Grant National Park established in California (and subsequently incorporated in Kings Canyon National Park).
"(F) October 1: Yosemite National Park established in California.
"(3) Theodore Roosevelt was this nation's 26th President and is considered by many to be our 'Conservationist President'.
"(4) As a frequent visitor to the West, Theodore Roosevelt witnessed the virtual destruction of some big game species and the overgrazing that destroyed the grasslands and with them the habitats for small mammals and songbirds and conservation increasingly became one of his major concerns.
"(5) When he became President in 1901, Roosevelt pursued this interest in conservation by establishing the first 51 Bird Reserves, 4 Game Preserves, and 150 National Forests.
"(6) He also established the United States Forest Service, signed into law the creation of 5 National Parks, and signed the Act for the Preservation of American Antiquities in 1906 under which he proclaimed 18 national monuments.
"(7) Approximately 230,000,000 acres of area within the United States was placed under public protection by Theodore Roosevelt.
"(8) Theodore Roosevelt said that nothing short of defending this country in wartime 'compares in importance with the great central task of leaving this land even a better land for our descendants than it is for us'.
"(9) The National Park Service was created by an Act signed by President Woodrow Wilson on August 25, 1916.
"(10) The National Park System comprises 391 areas covering more than 84,000,000 acres in every State (except Delaware), the District of Columbia, American Samoa, Guam, Puerto Rico, and the Virgin Islands.
"(11) The sites or areas within the National Park System vary widely in size and type from vast natural wilderness to birthplaces of Presidents to world heritage archaeology sites to an African burial ground memorial in Manhattan and include national parks, monuments, battlefields, military parks, historical parks, historic sites, lakeshores, seashores, recreation areas, scenic rivers and trails, and the White House.
"(12) In addition to the sites within the National Park System, the United States has placed numerous other types of sites under various forms of conservancy, such as the national forests and sites within the National Wildlife Refuge System and on the National Register of Historic Places."
Pub. L. 110–82, §4, Sept. 20, 2007, 121 Stat. 779, provided that:
"(a)
"(b)
Pub. L. 109–230, §8, June 15, 2006, 120 Stat. 393, provided that: "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."
Pub. L. 109–145, title I, §101, Dec. 22, 2005, 119 Stat. 2664, provided that: "Congress finds the following:
"(1) There are sectors of the United States economy, including public transportation, parking meters, vending machines, and low-dollar value transactions, in which the use of a $1 coin is both useful and desirable for keeping costs and prices down.
"(2) For a variety of reasons, the new $1 coin introduced in 2000 has not been widely sought-after by the public, leading to higher costs for merchants and thus higher prices for consumers.
"(3) The success of the 50 States Commemorative Coin Program (31 U.S.C. 5112(l)) for circulating quarter dollars shows that a design on a United States circulating coin that is regularly changed in a manner similar to the systematic change in designs in such Program radically increases demand for the coin, rapidly pulling it through the economy.
"(4) The 50 States Commemorative Coin Program also has been an educational tool, teaching both Americans and visitors something about each State for which a quarter has been issued.
"(5) A national survey and study by the Government Accountability Office has indicated that many Americans who do not seek, or who reject, the new $1 coin for use in commerce would actively seek the coin if an attractive, educational rotating design were to be struck on the coin.
"(6) The President is the leader of our tripartite government and the President's spouse has often set the social tone for the White House while spearheading and highlighting important issues for the country.
"(7) Sacagawea, as currently represented on the new $1 coin, is an important symbol of American history.
"(8) Many people cannot name all of the Presidents, and fewer can name the spouses, nor can many people accurately place each President in the proper time period of American history.
"(9) First Spouses have not generally been recognized on American coinage.
"(10) In order to revitalize the design of United States coinage and return circulating coinage to its position as not only a necessary means of exchange in commerce, but also as an object of aesthetic beauty in its own right, it is appropriate to move many of the mottos and emblems, the inscription of the year, and the so-called 'mint marks' that currently appear on the 2 faces of each circulating coin to the edge of the coin, which would allow larger and more dramatic artwork on the coins reminiscent of the so-called 'Golden Age of Coinage' in the United States, at the beginning of the Twentieth Century, initiated by President Theodore Roosevelt, with the assistance of noted sculptors and medallic artists James Earle Fraser and Augustus Saint-Gaudens.
"(11) Placing inscriptions on the edge of coins, known as edge-incusing, is a hallmark of modern coinage and is common in large-volume production of coinage elsewhere in the world, such as the 2,700,000,000 2-Euro coins in circulation, but it has not been done on a large scale in United States coinage in recent years.
"(12) Although the Congress has authorized the Secretary of the Treasury to issue gold coins with a purity of 99.99 percent, the Secretary has not done so.
"(13) Bullion coins are a valuable tool for the investor and, in some cases, an important aspect of coin collecting."
Pub. L. 109–145, title III, Dec. 22, 2005, 119 Stat. 2673, provided that:
"Congress finds the following:
"(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 Hardin County (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 are 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 the country he loved, dying from an assassin's bullet on April 15, 1865.
"(6) All Americans could benefit from studying the life of Abraham Lincoln, for Lincoln's life is a model for accomplishing the 'American dream' through honesty, integrity, loyalty, and a lifetime of education.
"(7) The year 2009 will be the bicentennial anniversary of the birth of Abraham Lincoln.
"(8) Abraham Lincoln was born in Kentucky, grew to adulthood in Indiana, achieved fame in Illinois, and led the nation in Washington, D.C.
"(9) The so-called 'Lincoln cent' was introduced in 1909 on the 100th anniversary of Lincoln's birth, making the obverse design the most enduring on the nation's coinage.
"(10) President Theodore Roosevelt was so impressed by the talent of Victor David Brenner that the sculptor was chosen to design the likeness of President Lincoln for the coin, adapting a design from a plaque Brenner had prepared earlier.
"(11) In the nearly 100 years of production of the 'Lincoln cent', there have been only 2 designs on the reverse: the original, featuring 2 wheat-heads in memorial style enclosing mottoes, and the current representation of the Lincoln Memorial in Washington, D.C.
"(12) On the occasion of the bicentennial of President Lincoln's birth and the 100th anniversary of the production of the Lincoln cent, it is entirely fitting to issue a series of 1-cent coins with designs on the reverse that are emblematic of the 4 major periods of President Lincoln's life.
"(a)
"(1)
"(2)
"(A) his birth and early childhood in Kentucky;
"(B) his formative years in Indiana;
"(C) his professional life in Illinois; and
"(D) his presidency, in Washington, D.C.
"(b)
"(1)
"(2)
"(c)
"(1) after consultation with the Abraham Lincoln Bicentennial Commission and the Commission of Fine Arts; and
"(2) after review by the Citizens Coinage Advisory Committee.
"The design on the reverse of the 1-cent coins issued after December 31, 2009, shall bear an image emblematic of President Lincoln's preservation of the United States of America as a single and united country.
"The Secretary of the Treasury shall issue 1-cent coins in 2009 with the exact metallic content as the 1-cent coin contained in 1909 in such number as the Secretary determines to be appropriate for numismatic purposes.
"It is the sense of the Congress that the original Victor David Brenner design for the 1-cent coin was a dramatic departure from previous American coinage that should be reproduced, using the original form and relief of the likeness of Abraham Lincoln, on the 1-cent coins issued in 2009."
Pub. L. 108–15, title I, §101, Apr. 23, 2003, 117 Stat. 615, provided that:
"(a)
"(b)
"(1)
"(2)
"(3)
Pub. L. 107–201, §3(b), July 23, 2002, 116 Stat. 737, provided that:
"(1)
"(2)
"(A) the Committee on Banking, Housing, and Urban Affairs of the Senate; and
"(B) the Committee on Financial Services of the House of Representatives."
Pub. L. 105–124, §2, Dec. 1, 1997, 111 Stat. 2534, provided that: "The Congress finds that—
"(1) it is appropriate and timely—
"(A) to honor the unique Federal republic of 50 States that comprise the United States; and
"(B) to promote the diffusion of knowledge among the youth of the United States about the individual States, their history and geography, and the rich diversity of the national heritage;
"(2) the circulating coinage of the United States has not been modernized during the 25-year period preceding the date of enactment of this Act [Dec. 1, 1997];
"(3) a circulating commemorative 25-cent coin program could produce earnings of $110,000,000 from the sale of silver proof coins and sets over the 10-year period of issuance, and would produce indirect earnings of an estimated $2,600,000,000 to $5,100,000,000 to the United States Treasury, money that will replace borrowing to fund the national debt to at least that extent; and
"(4) it is appropriate to launch a commemorative circulating coin program that encourages young people and their families to collect memorable tokens of all of the States for the face value of the coins."
Pub. L. 105–124, §4(e), (f), Dec. 1, 1997, 111 Stat. 2536, 2537, provided that:
"(e)
"(1)
"(2)
"(3)
"(f)
"(1)
"(2)
"(3)
Pub. L. 104–329, title III, §302, Oct. 20, 1996, 110 Stat. 4012, provided that:
"(a)
"(b)
"(c) 50-
"(1)
"(2)
"(3)
"(4)
"(A) selected pursuant to a process, decided upon by the Secretary, on the basis of the study conducted pursuant to subsection (a), which process shall involve, among other things, consultation with appropriate officials of the State being commemorated with such design; and
"(B) reviewed by the Citizens Commemorative Coin Advisory Committee and the Commission of Fine Arts.
"(5)
"(6)
"(A)
"(B)
"(C)
"(d)
Pub. L. 104–208, div. A, title I, §101(f) [title V, §523], Sept. 30, 1996, 110 Stat. 3009–314, 3009–347, provided in part: "That profits generated from the sale of gold to the United States Mint for this program shall be considered as a receipt to be deposited into the General Fund of the Treasury."
Pub. L. 104–208, div. A, title I, §101(f) [title V, §524], Sept. 30, 1996, 110 Stat. 3009–314, 3009–348, provided in part: "That the Secretary is authorized to use Government platinum reserves stockpiled at the United States Mint as working inventory and shall ensure that reserves utilized are replaced by the Mint."
Pub. L. 103–186, title III, Dec. 14, 1993, 107 Stat. 2251, as amended by Pub. L. 104–208, div. A, title I, §101(f) [title V, §529(b)(4)], Sept. 30, 1996, 110 Stat. 3009–314, 3009–352; Pub. L. 104–316, title I, §115(h), Oct. 19, 1996, 110 Stat. 3835, provided that:
"(a)
"(1) Congress has authorized 18 commemorative coin programs in the 9 years since 1984.
"(2) There are more meritorious causes, events, and people worthy of commemoration than can be honored with commemorative coinage.
"(3) Commemorative coin legislation has increased at a pace beyond that which the numismatic community can reasonably be expected to absorb.
"(4) It is in the interests of all Members of Congress that a policy be established to control the flow of commemorative coin legislation.
"(b)
"(a)
"(1)
"(2)
"(3)
"(b)
Pub. L. 99–185, §2(f), Dec. 17, 1985, 99 Stat. 1178, provided that an amount equal to the amount by which the proceeds from the sale of the coins issued under 31 U.S.C. 5112(i) exceeded the sum of the cost of minting, marketing, and distributing such coins, and the value of gold certificates (not exceeding forty-two and two-ninths dollars a fine troy ounce) retired from the use of gold contained in such coins, was to be deposited in the general fund of the Treasury and used for the sole purpose of reducing the national debt, prior to repeal by Pub. L. 102–390, title II, §221(c)(2)(A), Oct. 6, 1992, 106 Stat. 1628, effective Oct. 1, 1992.
Pub. L. 99–185, §2(g), Dec. 17, 1985, 99 Stat. 1178, provided that: "The Secretary shall take all actions necessary to ensure that the issuance of the coins minted under section 5112(i) of title 31, United States Code, shall result in no net cost to the United States Government."
Provisions authorizing commemorative coins were contained in the following acts:
Pub. L. 118–10, July 26, 2023, 137 Stat. 56.—United States Marine Corps 250th Anniversary.
Pub. L. 117–163, Aug. 3, 2022, 136 Stat. 1353.—Harriet Tubman Bicentennial.
Pub. L. 117–162, Aug. 3, 2022, 136 Stat. 1349.—National World War II Memorial.
Pub. L. 116–247, Dec. 22, 2020, 134 Stat. 1120.—National Purple Heart Hall of Honor.
Pub. L. 116–209, Dec. 4, 2020, 134 Stat. 1011.—Negro Leagues Baseball 100th Anniversary.
Pub. L. 116–94, div. K, §101–108, Dec. 20, 2019, 133 Stat. 3086.—National Law Enforcement Museum.
Pub. L. 116–71, Nov. 25, 2019, 133 Stat. 1147.—Women's Suffrage Centennial.
Pub. L. 116–65, Oct. 9, 2019, 133 Stat. 1124.—Christa McAuliffe.
Pub. L. 115–343, Dec. 21, 2018, 132 Stat. 5043.—Naismith Memorial Basketball Hall of Fame.
Pub. L. 115–65, Oct. 6, 2017, 131 Stat. 1191.—American Legion 100th Anniversary.
Pub. L. 114–282, Dec. 16, 2016, 130 Stat. 1441.—Apollo 11 50th Anniversary.
Pub. L. 114–148, Apr. 29, 2016, 130 Stat. 360.—Breast Cancer Awareness.
Pub. L. 114–30, July 6, 2015, 129 Stat. 424.—Boys Town Centennial.
Pub. L. 113–291, div. B, title XXX, §3055, Dec. 19, 2014, 128 Stat. 3808.—National Park Service 100th anniversary.
Pub. L. 113–212, Dec. 16, 2014, 128 Stat. 2082.—World War I American Veterans Centennial.
Pub. L. 112–209, Dec. 18, 2012, 126 Stat. 1510.—March of Dimes.
Pub. L. 112–201, Dec. 4, 2012, 126 Stat. 1479.—Mark Twain.
Pub. L. 112–181, Oct. 5, 2012, 126 Stat. 1416.—Lions Clubs International century of service.
Pub. L. 112–152, Aug. 3, 2012, 126 Stat. 1155; Pub. L. 113–10, §1, May 17, 2013, 127 Stat. 445.—National Baseball Hall of Fame.
Pub. L. 112–104, Apr. 2, 2012, 126 Stat. 286.—United States Marshals Service 225th anniversary.
Pub. L. 111–262, Oct. 8, 2010, 124 Stat. 2780.—5-Star Generals.
Pub. L. 111–232, Aug. 16, 2010, 124 Stat. 2490.—Star-Spangled Banner.
Pub. L. 111–91, Nov. 6, 2009, 123 Stat. 2980.—Medal of Honor.
Pub. L. 111–86, Oct. 29, 2009, 123 Stat. 2881.—Girl Scouts USA centennial.
Pub. L. 110–451, Dec. 2, 2008, 122 Stat. 5021.—Civil Rights Act of 1964.
Pub. L. 110–450, Dec. 1, 2008, 122 Stat. 5017.—United States Army.
Pub. L. 110–363, Oct. 8, 2008, 122 Stat. 4015.—Boy Scouts of America centennial.
Pub. L. 110–357, Oct. 8, 2008, 122 Stat. 3998; Pub. L. 112–169, §1, Aug. 10, 2012, 126 Stat. 1302.—National Infantry Museum and Soldier Center.
Pub. L. 110–277, July 17, 2008, 122 Stat. 2599.—American veterans disabled for life.
Pub. L. 109–285, Sept. 27, 2006, 120 Stat. 1215; Pub. L. 112–74, div. C, title VI, §621, Dec. 23, 2011, 125 Stat. 926.—Abraham Lincoln.
Pub. L. 109–247, July 27, 2006, 120 Stat. 582.—Louis Braille bicentennial—braille literacy.
Pub. L. 109–230, §§1–7, June 15, 2006, 120 Stat. 391–393.—San Francisco Old Mint.
Pub. L. 109–146, Dec. 22, 2005, 119 Stat. 2676.—Little Rock Central High School desegregation 50th anniversary.
Pub. L. 108–486, Dec. 23, 2004, 118 Stat. 3934.—American Bald Eagle Recovery and National Emblem.
Pub. L. 108–464, Dec. 21, 2004, 118 Stat. 3878.—Benjamin Franklin.
Pub. L. 108–291, Aug. 6, 2004, 118 Stat. 1024.—Marine Corps 230th anniversary.
Pub. L. 108–290, Aug. 6, 2004, 118 Stat. 1021.—John Marshall.
Pub. L. 108–289, Aug. 6, 2004, 118 Stat. 1017; Pub. L. 111–86, §8(b), Oct. 29, 2009, 123 Stat. 2883.—Jamestown 400th anniversary.
Pub. L. 106–435, Nov. 6, 2000, 114 Stat. 1916.—2002 Winter Olympic Games.
Pub. L. 106–375, Oct. 27, 2000, 114 Stat. 1435.—National Museum of the American Indian.
Pub. L. 106–126, title I, Dec. 6, 1999, 113 Stat. 1643.—Leif Ericson millennium.
Pub. L. 106–126, title II, Dec. 6, 1999, 113 Stat. 1644.—United States Capitol visitor center.
Pub. L. 106–126, title III, Dec. 6, 1999, 113 Stat. 1647; Pub. L. 109–232, June 15, 2006, 120 Stat. 395.—Lewis and Clark Expedition bicentennial.
Pub. L. 105–331, Oct. 31, 1998, 112 Stat. 3073; Pub. L. 110–3, Feb. 8, 2007, 121 Stat. 6.—Thomas Alva Edison.
Pub. L. 105–268, Oct. 19, 1998, 112 Stat. 2378.—Library of Congress bicentennial.
Pub. L. 105–124, §6, Dec. 1, 1997, 111 Stat. 2537.—First flight by Orville and Wilbur Wright.
Pub. L. 104–329, §2, title I, §§101–108, Oct. 20, 1996, 110 Stat. 4005–4011; Pub. L. 105–277, div. C, title I, §139(c), Oct. 21, 1998, 112 Stat. 2681–599.—Dolley Madison, George Washington, Black Revolutionary War patriots, Franklin Delano Roosevelt Memorial, Yellowstone National Park, National Law Enforcement Officers Memorial, and Jackie Robinson.
Pub. L. 104–96, Jan. 10, 1996, 109 Stat. 981.—Smithsonian Institution sesquicentennial.
Pub. L. 103–328, title II, §204, Sept. 29, 1994, 108 Stat. 2369.—1995 Special Olympics World Games.
Pub. L. 103–328, title II, §205, Sept. 29, 1994, 108 Stat. 2371.—National community service.
Pub. L. 103–328, title II, §206, Sept. 29, 1994, 108 Stat. 2373.—Robert F. Kennedy Memorial.
Pub. L. 103–328, title II, §207, Sept. 29, 1994, 108 Stat. 2375.—United States Military Academy bicentennial.
Pub. L. 103–328, title II, §208, Sept. 29, 1994, 108 Stat. 2377.—United States Botanic Garden.
Pub. L. 103–186, title I, Dec. 14, 1993, 107 Stat. 2245.—Thomas Jefferson.
Pub. L. 103–186, title II, Dec. 14, 1993, 107 Stat. 2247.—Prisoner-of-war, Vietnam Veterans Memorial, and Women in Military Service for America Memorial.
Pub. L. 103–186, title IV, Dec. 14, 1993, 107 Stat. 2252.—United States Capitol bicentennial.
Pub. L. 102–414, Oct. 14, 1992, 106 Stat. 2106.—World War II 50th anniversary.
Pub. L. 102–390, title I, Oct. 6, 1992, 106 Stat. 1620; Pub. L. 104–74, Dec. 26, 1995, 109 Stat. 784.—1996 Olympic Games.
Pub. L. 102–379, Oct. 5, 1992, 106 Stat. 1362.—Civil War battlefields.
Pub. L. 102–281, title I, May 13, 1992, 106 Stat. 133; Pub. L. 102–390, title II, §221(c)(2)(G), Oct. 6, 1992, 106 Stat. 1628.—White House 200th anniversary.
Pub. L. 102–281, title II, May 13, 1992, 106 Stat. 135; Pub. L. 102–390, title II, §221(c)(2)(H), Oct. 6, 1992, 106 Stat. 1628; Pub. L. 104–66, title I, §1132(a), Dec. 21, 1995, 109 Stat. 725.—World Cup USA 1994.
Pub. L. 102–281, title IV, §§401–411, May 13, 1992, 106 Stat. 139–141; Pub. L. 102–390, title II, §221(c)(2)(I), Oct. 6, 1992, 106 Stat. 1628.—Christopher Columbus quincentenary.
Pub. L. 102–281, title V, May 13, 1992, 106 Stat. 145; Pub. L. 104–66, title I, §1132(c), Dec. 21, 1995, 109 Stat. 725.—James Madison and Bill of Rights.
Pub. L. 101–495, Oct. 31, 1990, 104 Stat. 1187; Pub. L. 102–390, title II, §221(c)(2)(F), Oct. 6, 1992, 106 Stat. 1628.—Korean War Veterans Memorial.
Pub. L. 101–406, Oct. 3, 1990, 104 Stat. 879; Pub. L. 102–390, title II, §221(c)(2)(E), Oct. 6, 1992, 106 Stat. 1628.—1992 Olympic Games.
Pub. L. 101–404, Oct. 2, 1990, 104 Stat. 875; Pub. L. 102–390, title II, §221(c)(2)(D), Oct. 6, 1992, 106 Stat. 1628.—United Services Organization 50th anniversary.
Pub. L. 101–332, July 16, 1990, 104 Stat. 313; Pub. L. 102–390, title II, §221(c)(2)(C), Oct. 6, 1992, 106 Stat. 1628; Pub. L. 103–328, title II, §209, Sept. 29, 1994, 108 Stat. 2378.—Mount Rushmore National Memorial golden anniversary.
Pub. L. 100–673, Nov. 17, 1988, 102 Stat. 3992; Pub. L. 101–36, June 9, 1989, 103 Stat. 69; Pub. L. 101–302, title III, §312(c), May 25, 1990, 104 Stat. 245; Pub. L. 103–186, title IV, §408(b), Dec. 14, 1993, 107 Stat. 2253.—United States Congress bicentennial.
Pub. L. 100–467, Oct. 3, 1988, 102 Stat. 2275; Pub. L. 102–390, title II, §221(c)(2)(B), Oct. 6, 1992, 106 Stat. 1628.—Dwight David Eisenhower.
Pub. L. 100–141, Oct. 28, 1987, 101 Stat. 832.—1988 Olympic Games.
Pub. L. 99–582, Oct. 29, 1986, 100 Stat. 3315.—United States Constitution bicentennial.
Pub. L. 99–61, title I, July 9, 1985, 99 Stat. 113.—Statue of Liberty and Ellis Island.
Pub. L. 97–220, July 22, 1982, 96 Stat. 222.—1984 Olympic Games.
The possession of gold coins and bullion was prohibited except under Government license by Ex. Ord. No. 6260, eff. Aug. 28, 1933. That prohibition was revoked by Ex. Ord. No. 11825, Dec. 31, 1974, 40 F.R. 1003, eff. Dec. 31, 1974.
1 So in original. Probably should be "sections".
2 So in original. The comma probably should not appear.
4 So in original. Probably should be "this subsection".
(a) The Secretary of the Treasury may prescribe reasonable manufacturing tolerances for specifications in section 5112 of this title (except for specifications that are limits) for the dollar, half dollar, quarter dollar, and dime coins. The weight of the 5-cent coin may vary not more than 0.194 gram. The weight of the one-cent coin may vary not more than 0.13 gram. Any gold coin issued under section 5112 of this title shall contain the full weight of gold stated on the coin.
(b) The Secretary shall keep a record of the kind, number, and weight of each group of coins minted and test a number of the coins separately to determine if the coins conform to the weight specified in section 5112(a) of this title. If the coins tested do not conform, the Secretary—
(1) shall weigh each coin of the group separately and deface the coins that do not conform and cast them into bars for reminting; or
(2) may remelt the group of coins.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 983; Pub. L. 100–274, §4(b), Mar. 31, 1988, 102 Stat. 50.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5113(a) | 31:350. | R.S. §3537; Sept. 26, 1890, ch. 945, §1, 26 Stat. 485. |
| 31:398(5). | July 23, 1965, Pub. L. 89–81, §108(5), 79 Stat. 255. | |
| 5113(b) | 31:351. | R.S. §3538; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. |
In subsection (a), the words "for the dollar, half dollar, quarter dollar, and dime coins" are added because of the restatement. The words "0.194 gram" are substituted for "three grains", and the words "0.13 gram" are substituted for "two grains", for consistency in the revised chapter.
In subsection (b), before clause (1), the words "Secretary shall keep a record of the kind, number, and weight of each group of coins minted" are substituted for 31:351(1st sentence) because of the source provisions restated in section 321(c) of the revised title. In clause (1), the words "deface the coins that do not conform and cast them into bars for reminting" are substituted for "shall be defaced and delivered to the superintendent of melting and refining department as standard bullion, to be again formed into ingots and recoined" for consistency in the revised chapter and to eliminate unnecessary words. In clause (2), the words "if more convenient" are omitted as surplus.
1988—Subsec. (a). Pub. L. 100–274 inserted at end "Any gold coin issued under section 5112 of this title shall contain the full weight of gold stated on the coin."
(a)
(1)
(2)
(A) the Secretary of the Treasury determines that such production will not interfere with engraving and printing needs of the United States; and
(B) the Secretary of State determines that such production would be consistent with the foreign policy of the United States.
(3)
(b) United States currency has the inscription "In God We Trust" in a place the Secretary decides is appropriate. Only the portrait of a deceased individual may appear on United States currency and securities. The name of the individual shall be inscribed below the portrait.
(c) The Secretary may make a contract to manufacture distinctive paper for United States currency and securities. To promote competition among manufacturers of the distinctive paper, the Secretary may split the award for the manufacture of the paper between the 2 bidders with the lowest prices a pound. When the Secretary decides that it is necessary to operate more than one mill to manufacture distinctive paper, the Secretary may—
(1) employ individuals temporarily at rates of pay equivalent to the rates of pay of regular employees; and
(2) charge the pay of the temporary employees to the appropriation available for manufacturing distinctive paper.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 983; Pub. L. 108–458, title VI, §6301(a), Dec. 17, 2004, 118 Stat. 3748; Pub. L. 112–74, div. C, title I, §116, Dec. 23, 2011, 125 Stat. 891.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5114(a) | 31:177. | Aug. 24, 1912, ch. 355, §1(4th par. under heading "Engraving and Printing"), 37 Stat. 430. |
| Jan. 3, 1923, ch. 22(2d par. under heading "Bureau of Engraving and Printing"), 42 Stat. 1099. | ||
| 31:415. | Mar. 3, 1877, ch. 105(provisos in par. under heading "Bureau of Engraving and Printing"), 19 Stat. 353. | |
| 31:416. | R.S. §3577. | |
| 5114(b) | 31:324a. | July 11, 1955, ch. 303, 69 Stat. 290. |
| 31:413. | R.S. §3576. | |
| 31:414. | Mar. 2, 1889, ch. 411, §1(5th proviso under heading "Engraving and Printing"), 25 Stat. 945. | |
| 5114(c) | 31:418. | July 1, 1916, ch. 209, §1(2d par. on p. 277), 39 Stat. 277; Oct. 31, 1951, ch. 654, §2(19), 65 Stat. 707. |
| 31:418a. | Aug. 11, 1951, ch. 301, §101(proviso under heading "Bureau of Engraving and Printing"), 65 Stat. 184. | |
| 31:419. | Apr. 4, 1924, ch. 84(1st par. on p. 69), 43 Stat. 69. |
In subsection (a), the words "The Secretary of the Treasury shall engrave and print" are substituted for "The work of engraving and printing . . . shall be performed at the Treasury Department" in 31:415 because of the source provisions restated in section 321(c) of the revised title. The words "United States currency and security documents of the United States Government and currency and bonds of the United States territories and possessions" are substituted for "the backs and tints of all United States bonds, the backs and tints of all United States paper money, and the backs and tints of bonds and paper money issued by any of the insular possessions of the United States" in 31:177 to eliminate unnecessary words and for clarity and consistency in the revised title. The words "other security documents and checks" are substituted for "checks" because only currency and bonds must be printed from intaglio plates. The text of 31:177(1st proviso) is omitted as unnecessary because of the authority of the Secretary to engrave and print restated in the subsection and the source provisions restated in section 303 of the revised title. The text of 31:177(last proviso) is omitted as executed. The text of the first and 2d provisos in the 4th paragraph under the heading "Engraving and Printing" in section 1 of the Act of August 24, 1912 (ch. 355, 37 Stat. 430), is omitted as superseded by 31:177(1st proviso). The words after the semicolon in the 2d paragraph under the heading "Bureau of Engraving and Printing" of the Act of January 3, 1923 (ch. 22, 42 Stat. 1099), are omitted as executed. The words "if the Secretary decides the engraving and printing can be carried out . . . as outside the Department" are substituted for "provided it can be done there" in 31:415 for clarity. The words "The Secretary of the Treasury may purchase and provide all the machinery and materials" in 31:416 are omitted as being superseded by section 5142 of the revised title. The words "and employ such persons and appoint such officers as are necessary for the purpose of section 415 of this title" are omitted as unnecessary because of 5:3101. The text of section 3577(words before the semicolon) of the Revised Statutes is omitted as superseded by 31:415.
In subsection (b), the words "United States currency has the inscription" are substituted for "the dies shall bear . . . the inscription" in 31:324a for clarity. The words "At such time as new dies for the printing of currency are adopted" are omitted as executed. The words "and thereafter this inscription shall appear on all United States currency and coins" are omitted as unnecessary because of the restatement of the source provisions in this subsection and section 5112(d) of the revised title. The words "in connection with the current program of the Treasury Department to increase the capacity of presses utilized by the Bureau of Engraving and Printing" in the Act of July 11, 1955 (ch. 303, 69 Stat. 290), are omitted as unnecessary. The words "Only . . . of a deceased individual" are substituted for "No . . . while the original of such portrait is living" in 31:413 for clarity. The words "United States currency and obligations" are substituted for "bonds, securities, notes, fractional or postal currency of the United States" for consistency in the revised title. The words "shall be placed upon any of the plates for bonds, securities, notes, and silver certificates of the United States" in 31:414 are omitted as unnecessary because of the restatement.
In subsection (c), before clause (1), the words "subject to applicable regulations under the Federal Property and Administrative Services Act of 1949, as amended" in 31:418 are omitted as unnecessary. The words "On and after August 11, 1951" in 31:418a are omitted as executed. The words "received after advertisement" are omitted as unnecessary because of 41:252. The words "the Secretary decides" are added for clarity. In clause (1), the words "as may be necessary" in 31:419 are omitted as surplus. In clause (2), the word "pay" is substituted for "compensation" for consistency in the revised subsection and with other titles of the United States Code.
Title III of the Act of March 3, 1933, referred to in subsec. (a)(3), is title III of act Mar. 3, 1933, ch. 212, 47 Stat. 1520, known as the Buy American Act, which was classified generally to sections 10a, 10b, and 10c of former Title 41, Public Contracts, and was substantially repealed and restated in chapter 83 (§8301 et seq.) of Title 41, Public Contracts, by Pub. L. 111–350, §§3, 7(b), Jan. 4, 2011, 124 Stat. 3677, 3855. For complete classification of this Act to the Code, see Short Title of 1933 Act note set out under section 101 of Title 41 and Tables. For disposition of sections of former Title 41, see Disposition Table preceding section 101 of Title 41.
2011—Subsec. (c). Pub. L. 112–74 struck out "for a period of not more than 4 years" after "make a contract" in introductory provisions.
2004—Subsec. (a). Pub. L. 108–458 inserted subsec. heading, designated existing provisions as par. (1), inserted par. heading, and added pars. (2) and (3).
Pub. L. 100–440, title VI, §617(a), Sept. 22, 1988, 102 Stat. 1755, provided that: "None of the funds made available by this or any other Act with respect to any fiscal year may be used to make a contract for the manufacture of distinctive paper for United States currency and securities pursuant to section 5114 of title 31, United States Code, with any corporation or other entity owned or controlled by persons not citizens of the United States, or for the manufacture of such distinctive paper outside of the United States or its possessions. This subsection shall not apply if the Secretary of the Treasury determines that no domestic manufacturer of distinctive paper for United States currency or securities exists with which to make a contract and if the Secretary of the Treasury publishes in the Federal Register a written finding stating the basis for the determination."
Similar provisions were contained in the following prior appropriation act:
Pub. L. 100–202, §101(m) [title VI, §622(a)], Dec. 22, 1987, 101 Stat. 1329–390, 1329–428.
1 See References in Text note below.
(a) The Secretary of the Treasury may issue United States currency notes. The notes—
(1) are payable to bearer; and
(2) shall be in a form and in denominations of at least one dollar that the Secretary prescribes.
(b) The amount of United States currency notes outstanding and in circulation—
(1) may not be more than $300,000,000; and
(2) may not be held or used for a reserve.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 983.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5115(a) | 31:401. | R.S. §3571. |
| 5115(b) | 31:402. | June 20, 1874, ch. 343, §6, 18 Stat. 124; Jan. 14, 1875, ch. 15, §3, 18 Stat. 296. |
In the section, the words "United States currency notes" are substituted for "United States notes" for clarity and consistency in the revised title.
In subsection (a), the first sentence is added for clarity and because of the restatement. The words "shall not bear interest" are omitted because of the source provisions restated in section 5118 of the revised title.
In subsection (b), before clause (1), the words "in circulation" are substituted for "to be used as a part of the circulation medium" to eliminate unnecessary words. In clause (1), the words "the sum of" are omitted as surplus. The words "which said sum shall appear in each monthly statement of the public debt" are omitted because of the source provisions restated in section 5118 of the revised title. In clause (2), the words "and no part thereof shall" are omitted because of the restatement. The text of section 3(less 2d sentence) of the Act of January 14, 1875 (ch. 15, 18 Stat. 296), is omitted as executed.
(a)(1) With the approval of the President, the Secretary of the Treasury may—
(A) buy and sell gold in the way, in amounts, at rates, and on conditions the Secretary considers most advantageous to the public interest; and
(B) buy the gold with any direct obligations of the United States Government or United States coins and currency authorized by law, or with amounts in the Treasury not otherwise appropriated.
(2) Amounts received from the purchase of gold are an asset of the general fund of the Treasury. Amounts received from the sale of gold shall be deposited by the Secretary in the general fund of the Treasury and shall be used for the sole purpose of reducing the national debt.
(3) The Secretary shall acquire gold for the coins issued under section 5112(i) of this title by purchase of gold mined from natural deposits in the United States, or in a territory or possession of the United States, within one year after the month in which the ore from which it is derived was mined. The Secretary shall pay not more than the average world price for the gold. In the absence of available supplies of such gold at the average world price, the Secretary may use gold from reserves held by the United States to mint the coins issued under section 5112(i) of this title. The Secretary shall issue such regulations as may be necessary to carry out this paragraph.
(b)(1) The Secretary may buy silver mined from natural deposits in the United States, or in a territory or possession of the United States, that is brought to a United States mint or assay office within one year after the month in which the ore from which it is derived was mined. The Secretary may use the coinage metal fund under section 5111(b) of this title to buy silver under this subsection.
(2) The Secretary may sell or use Government silver to mint coins, except silver transferred to stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). The Secretary shall obtain the silver for the coins authorized under section 5112(e) of this title by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). At such time as the silver stockpile is depleted, the Secretary shall obtain silver as described in paragraph (1) to mint coins authorized under section 5112(e). If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section 5112(e) from other available sources. The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term "average world price" means the price determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary. The Secretary shall sell silver under conditions the Secretary considers appropriate for at least $1.292929292 a fine troy ounce.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 984; Pub. L. 99–61, title II, §203, July 9, 1985, 99 Stat. 116; Pub. L. 99–185, §2(c), Dec. 17, 1985, 99 Stat. 1178; Pub. L. 100–274, §5, Mar. 31, 1988, 102 Stat. 50; Pub. L. 107–201, §3(a)(1), July 23, 2002, 116 Stat. 737.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5116(a) | 31:733(words after semicolon). | R.S. §3699(words after semicolon); restated Jan. 30, 1934, ch. 6, §9, 48 Stat. 341. |
| 31:734. | R.S. §3700; restated Jan. 30, 1934, ch. 6, §8, 48 Stat. 341. | |
| 5116(b)(1) | 31:335. | R.S. §3526; restated May 10, 1950, ch. 173, 64 Stat. 157; July 9, 1956, ch. 535, §2, 70 Stat. 518; July 23, 1965, Pub. L. 89–81, §205, 79 Stat. 256. |
| 31:394. | July 23, 1965, Pub. L. 89–81, §104, 79 Stat. 255. | |
| 5116(b)(2) | 31:405a–1. | June 4, 1963, Pub. L. 88–36, §2, 77 Stat. 54; July 23, 1965, Pub. L. 89–81, §209, 79 Stat. 257; restated June 24, 1967, Pub. L. 90–29, §3, 81 Stat. 77. |
In subsection (a)(1), the words "With the approval of the President" are applied to 31:733(words after semicolon) because of 31:822b. The words "at home or abroad" in 31:733(words after semicolon) and 734 are omitted as surplus. The words "terms and" are omitted as included in "conditions". The text of 31:733(proviso) is omitted as superseded by the Bretton Woods Agreement Act (22 U.S.C. 286 et seq.) and sections 6 and 9 of the Act of October 19, 1976 (Pub. L. 94–564, 90 Stat. 2661), repealing 31:449 that provided for parity of the dollar on terms of gold and special drawing rights. The text of 31:734(1st sentence words after semicolon) is omitted as surplus.
In subsection (b)(1), the words "coinage metal fund" are substituted for "bullion fund" in 31:335 as being more precise and because of section 5111 of the revised title. The words "after July 23, 1965" in 31:394 are omitted as executed. The words "to procure bullion for coinage" and 31:335(2d–last sentences) are omitted as obsolete because the Secretary of the Treasury has authority to mint coins containing silver only under section 5112(e) of the revised title and the Secretary holds sufficient silver to mint those coins. See Sen. Rept. No. 91–1084 (1970).
In subsection (b)(2), the word "terms" is omitted as being included in "conditions". The words "for at least" are substituted for "at a price not less than the monetary value of" to eliminate unnecessary words.
The Strategic and Critical Materials Stock Piling Act, referred to in subsec. (b)(2), is act June 7, 1939, ch. 190, as revised generally by Pub. L. 96–41, §2, July 30, 1979, 93 Stat. 319, which is classified generally to subchapter III (§98 et seq.) of chapter 5 of Title 50, War and National Defense. For complete classification of this Act to the Code, see section 98 of Title 50 and Tables.
2002—Subsec. (b)(2). Pub. L. 107–201 inserted after second sentence "At such time as the silver stockpile is depleted, the Secretary shall obtain silver as described in paragraph (1) to mint coins authorized under section 5112(e). If it is not economically feasible to obtain such silver, the Secretary may obtain silver for coins authorized under section 5112(e) from other available sources. The Secretary shall not pay more than the average world price for silver under any circumstances. As used in this paragraph, the term 'average world price' means the price determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary."
1988—Subsec. (a)(2). Pub. L. 100–274 amended last sentence generally, substituting "shall be deposited by the Secretary in the general fund of the Treasury and shall be used for the sole purpose of reducing the national debt" for "shall be deposited in the general fund of the Treasury".
1985—Subsec. (a)(3). Pub. L. 99–185 added par. (3).
Subsec. (b)(1). Pub. L. 99–61, §203(1), (2), substituted "The Secretary may buy silver" for "The Secretary shall buy silver", and struck out provision directing that the Secretary pay $1.25 a fine troy ounce for silver.
Subsec. (b)(2). Pub. L. 99–61, §203(3), inserted provision directing that the Secretary obtain the silver for the coins authorized under section 5112(e) of this title by purchase from stockpiles established under the Strategic and Critical Materials Stock Piling Act.
Amendment by Pub. L. 99–185 effective Oct. 1, 1985, except that no coins may be issued or sold under section 5112(i) of this title before Oct. 1, 1986, see section 3 of Pub. L. 99–185, set out as a note under section 5112 of this title.
Amendment by Pub. L. 99–61 effective Oct. 1, 1985, with exception as to issuance or sale of coins under section 5112(e) of this title, see section 205 of Pub. L. 99–61, set out as a note under section 5112 of this title.
Pub. L. 107–201, §3(a)(2), July 23, 2002, 116 Stat. 737, provided that: "The Secretary of the Treasury shall issue regulations to implement the amendments made by paragraph (1) [amending this section]."
Pub. L. 107–201, §2, July 23, 2002, 116 Stat. 736, provided that: "Congress finds that—
"(1) the American Eagle Silver Bullion coin leads the global market, and is the largest and most popular silver coin program in the United States;
"(2) established in 1986, the American Eagle Silver Bullion Program is the most successful silver bullion program in the world;
"(3) from fiscal year 1995 through fiscal year 2001, the American Eagle Silver Bullion Program generated—
"(A) revenues of $264,100,000; and
"(B) sufficient profits to significantly reduce the national debt;
"(4) with the depletion of silver reserves in the Defense Logistic Agency's Strategic and Critical Materials Stockpile, it is necessary for the Department of the Treasury to acquire silver from other sources in order to preserve the American Eagle Silver Bullion Program;
"(5) with the ability to obtain silver from other sources, the United States Mint can continue the highly successful American Eagle Silver Bullion Program, exercising sound business judgment and market acquisition practices in its approach to the silver market, resulting in continuing profitability of the program;
"(6) in 2001, silver was commercially produced in 12 States, including, [sic] Alaska, Arizona, California, Colorado, Idaho, Missouri, Montana, Nevada, New Mexico, South Dakota, Utah, and Washington;
"(7) Nevada is the largest silver producing State in the Nation, producing—
"(A) 17,500,000 ounces of silver in 2001; and
"(B) 34 percent of United States silver production in 2000;
"(8) the mining industry in Idaho is vital to the economy of the State, and the Silver Valley in northern Idaho leads the world in recorded silver production, with over 1,100,000,000 ounces of silver produced between 1884 and 2001;
"(9) the largest, active silver producing mine in the Nation is the McCoy/Cove Mine in Nevada, which produced more than 107,000,000 ounces of silver between 1989 and 2001;
"(10) the mining industry in Idaho—
"(A) employs more than 3,000 people;
"(B) contributes more than $900,000,000 to the Idaho economy; and
"(C) produces $70,000,000 worth of silver per year;
"(11) the silver mines of the Comstock lode, the premier silver producing deposit in Nevada, brought people and wealth to the region, paving the way for statehood in 1864, and giving Nevada its nickname as 'the Silver State';
"(12) mines in the Silver Valley—
"(A) represent an important part of the mining history of Idaho and the United States; and
"(B) have served in the past as key components of the United States war effort; and
"(13) silver has been mined in Nevada throughout its history, with every significant metal mining camp in Nevada producing some silver."
Pub. L. 107–201, §3(c), July 23, 2002, 116 Stat. 737, provided that:
"(1)
"(2)
All assets and liabilities of Coinage Metal Fund transferred to United States Mint Public Enterprise Fund and such coinage fund to cease to exist as separate fund as its activities and functions are subsumed under and subject to United States Mint Public Enterprise Fund, see section 5136 of this title.
(a) All right, title, and interest, and every claim of the Board of Governors of the Federal Reserve System, a Federal reserve bank, and a Federal reserve agent, in and to gold is transferred to and vests in the United States Government to be held in the Treasury. Payment for the transferred gold is made by crediting equivalent amounts in dollars in accounts established in the Treasury under the 15th paragraph of section 16 of the Federal Reserve Act (12 U.S.C. 467). Gold not in the possession of the Government shall be held in custody for the Government and delivered on the order of the Secretary of the Treasury. The Board of Governors, Federal reserve banks, and Federal reserve agents shall give instructions and take action necessary to ensure that the gold is so held and delivered.
(b) The Secretary shall issue gold certificates against gold transferred under subsection (a) of this section. The Secretary may issue gold certificates against other gold held in the Treasury. The Secretary may prescribe the form and denominations of the certificates. The amount of outstanding certificates may be not more than the value (for the purpose of issuing those certificates, of 42 and two-ninths dollars a fine troy ounce) of the gold held against gold certificates. The Secretary shall hold gold in the Treasury equal to the required dollar amount as security for gold certificates issued after January 29, 1934.
(c) With the approval of the President, the Secretary may prescribe regulations the Secretary considers necessary to carry out this section.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 984.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5117(a) | 31:441(1st, last sentences). | Jan. 30, 1934, ch. 6, §§2(a), 11, 48 Stat. 337, 342. |
| 5117(b) | 31:405b. | Jan. 30, 1934, ch. 6, §14(c), 48 Stat. 344; Mar. 18, 1968, Pub. L. 90–269, §12, 82 Stat. 51; restated Oct. 19, 1976, Pub. L. 94–564, §8, 90 Stat. 2661. |
| 31:408a(last proviso). | Jan. 30, 1934, ch. 6, §6(last proviso), 48 Stat. 340; Mar. 18, 1968, Pub. L. 90–269, §8, 82 Stat. 50. | |
| 31:441(2d sentence). | ||
| 5117(c) | 31:822b. |
In subsection (a), the words "On January 30, 1934" are omitted as executed. The word "gold" is substituted for "gold coin and gold bullion" for consistency and to omit unnecessary words. The word "transferred" is substituted for "pass" for consistency in the subsection. The words "to be held in the Treasury" are added for consistency with the source provisions restated in subsection (b) of the revised section.
In subsection (b), the first sentence is substituted for 31:441(2d sentence) for consistency. The word "issued" in 31:405b is omitted as being included in "outstanding". The words "of 42 and two-ninths dollars a fine troy ounce)" are substituted for "at the legal standard provided in section 449 of this title on October 19, 1976" because that was the legal standard in that section on that date. The text of 31:449 was repealed by section 6 of the Bretton Woods Agreements Act. The words "The Secretary shall hold . . . in the Treasury . . . as security" are substituted for "security . . . shall be maintained" in 31:408a(last proviso) because of the source provisions restated in section 321 of the revised title. The words "gold certificates issued after January 29, 1934" are substituted for "gold certificates (including the gold certificates held in the Treasury for credits payable therein)" for clarity and because of section 5118(c)(1)(A) of the revised title.
In subsection (c), the word "regulations" is substituted for "rules and regulations", and the word "necessary" is substituted for "necessary or proper", to eliminate unnecessary words.
(a) In this section—
(1) "gold clause" means a provision in or related to an obligation alleging to give the obligee a right to require payment in—
(A) gold;
(B) a particular United States coin or currency; or
(C) United States money measured in gold or a particular United States coin or currency.
(2) "public debt obligation" means a domestic obligation issued or guaranteed by the United States Government to repay money or interest.
(b) The United States Government may not pay out any gold coin. A person lawfully holding United States coins and currency may present the coins and currency to the Secretary of the Treasury for exchange (dollar for dollar) for other United States coins and currency (other than gold and silver coins) that may be lawfully held. The Secretary shall make the exchange under regulations prescribed by the Secretary.
(c)(1) The Government withdraws its consent given to anyone to assert against the Government, its agencies, or its officers, employees, or agents, a claim—
(A) on a gold clause public debt obligation or interest on the obligation;
(B) for United States coins or currency; or
(C) arising out of the surrender, requisition, seizure, or acquisition of United States coins or currency, gold, or silver involving the effect or validity of a change in the metallic content of the dollar or in a regulation about the value of money.
(2) Paragraph (1) of this subsection does not apply to a proceeding in which no claim is made for payment or credit in an amount greater than the face or nominal value in dollars of public debt obligations or United States coins or currency involved in the proceeding.
(3) Except when consent is not withdrawn under this subsection, an amount appropriated for payment on public debt obligations and for United States coins and currency may be expended only dollar for dollar.
(d)(1) In this subsection, "obligation" means any obligation (except United States currency) payable in United States money.
(2) An obligation issued containing a gold clause or governed by a gold clause is discharged on payment (dollar for dollar) in United States coin or currency that is legal tender at the time of payment. This paragraph does not apply to an obligation issued after October 27, 1977.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 985; Pub. L. 99–185, §2(d), Dec. 17, 1985, 99 Stat. 1178; Pub. L. 104–208, div. A, title II, §2609, Sept. 30, 1996, 110 Stat. 3009–475; Pub. L. 105–61, title VI, §641, Oct. 10, 1997, 111 Stat. 1318.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5118(a) | 31:773d. | Aug. 27, 1935, ch. 780, 49 Stat. 938. |
| 5118(b) | 31:315b. | Jan. 30, 1934, ch. 6, §5, 48 Stat. 340. |
| 31:773a. | ||
| 5118(c)(1), (2) | 31:773b. | |
| 5118(c)(3) | 31:773c. | |
| 5118(d) | 31:463. | June 5, 1933, ch. 48, §1, 48 Stat. 113. |
| 31:463(note). | Oct. 28, 1977, Pub. L. 95–147, §4(c), 91 Stat. 1229. |
In subsection (a), before clause (1), the words "the phrase" are omitted as surplus. In clause (1), the words "declared to be against public policy by section 463 of this title" are omitted as surplus. Clause (2) is substituted for 31:773d(words after semicolon) for consistency in the revised title and to eliminate unnecessary words.
In subsection (b), the words "after January 30, 1934" in 31:315b are omitted as executed. The words "that may be lawfully held" are substituted for "which may be lawfully acquired and are legal tender for public and private debts" in 31:773a for consistency in the subsection and to eliminate unnecessary words. The words "and that the owners of the gold clause securities of the United States shall be, at their election, entitled to receive immediate payment of the stated dollar amount thereof with interest to the date of payment or to prior maturity or to prior redemption date, whichever is earlier" in section 1 of the Act of August 27, 1935 (ch. 780, 49 Stat. 938), are omitted as expired. The words "make the exchange" are substituted for "make such exchanges and payments upon presentation hereunder" to eliminate unnecessary words. The words "No gold shall after January 30, 1934, be coined" in 31:315b are omitted because of section 5112 of the revised title. The text of 31:315b(proviso) is omitted as unnecessary because of the restatement. The text of 31:315b(last sentence) is omitted as executed.
In subsection (c)(1), before clause (A), the word "Government" is substituted for "United States" for consistency in the revised title and with other titles of the United States Code. The words "to anyone" are added for clarity. The words "whether by way of suit, counterclaim, set-off, recoupment, or other affirmative action or defense in its own name or in the name of" are omitted as surplus. The word "employees" is added for consistency in the revised title and with other titles of the Code. The word "instrumentalities" is omitted as unnecessary because of section 101 of the revised title. The word "claim" is substituted for "right, privilege, or power" to eliminate unnecessary words and for consistency in the revised title and with other titles of the Code. The words "in any proceeding of any nature whatsoever" are omitted as surplus. In clause (C), the words "or demand" are omitted as surplus.
In subsection (c)(2), the words "any suit commenced prior to August 27, 1935, or which may be commenced by January 1, 1936" are omitted as executed. The words "referred to in this section" are omitted as surplus.
In subsection (c)(3), the words "may be expended" are substituted for "an amount appropriated or authorized to be expended" and "shall be available for or expended in", and the words "dollar for dollar" are substituted for "on an equal and uniform dollar for dollar basis", to eliminate unnecessary words.
In subsection (d)(1), the words "including every obligation of and to the United States" are omitted as surplus. The text of 31:463(b)(words after semicolon) is omitted as unnecessary because of the restatement.
1997—Subsec. (d)(2). Pub. L. 105–61 struck out at end "This paragraph shall apply to any obligation issued on or before October 27, 1977, notwithstanding any assignment or novation of such obligation after October 27, 1977, unless all parties to the assignment or novation specifically agree to include a gold clause in the new agreement. Nothing in the preceding sentence shall be construed to affect the enforceability of a Gold Clause contained in any obligation issued after October 27, 1977 if the enforceability of that Gold Clause has been finally adjudicated before the date of enactment of the Economic Growth and Regulatory Paperwork Reduction Act of 1996."
1996—Subsec. (d)(2). Pub. L. 104–208 inserted at end "This paragraph shall apply to any obligation issued on or before October 27, 1977, notwithstanding any assignment or novation of such obligation after October 27, 1977, unless all parties to the assignment or novation specifically agree to include a gold clause in the new agreement. Nothing in the preceding sentence shall be construed to affect the enforceability of a Gold Clause contained in any obligation issued after October 27, 1977 if the enforceability of that Gold Clause has been finally adjudicated before the date of enactment of the Economic Growth and Regulatory Paperwork Reduction Act of 1996."
1985—Subsec.(b). Pub. L. 99–185 struck out "or deliver" after "pay out" and inserted "(other than gold and silver coins)" before "that may be lawfully held".
Amendment by Pub. L. 99–185 effective Oct. 1, 1985, except that no coins may be issued or sold under section 5112(i) of this title before Oct. 1, 1986, see section 3 of Pub. L. 99–185, set out as a note under section 5112 of this title.
(a) Except to the extent authorized in regulations the Secretary of the Treasury prescribes with the approval of the President, the Secretary may not redeem United States currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) in gold. However, the Secretary shall redeem gold certificates owned by the Federal reserve banks at times and in amounts the Secretary decides are necessary to maintain the equal purchasing power of each kind of United States currency. When redemption in gold is authorized, the redemption may be made only in gold bullion bearing the stamp of a United States mint or assay office in an amount equal at the time of redemption to the currency presented for redemption.
(b)(1) Except as provided in subsection (c)(1) of this section, the following are public debts bearing no interest:
(A) gold certificates issued before January 30, 1934.
(B) silver certificates.
(C) notes issued under the Act of July 14, 1890 (ch. 708, 26 Stat. 289).
(D) Federal Reserve notes for which payment was made under section 4 of the Old Series Currency Adjustment Act.
(E) United States currency notes, including those issued under section 1 of the Act of February 25, 1862 (ch. 33, 12 Stat. 345), the Act of July 11, 1862 (ch. 142, 12 Stat. 532), the resolution of January 17, 1863 (P.R. 9; 12 Stat. 822), section 2 of the Act of March 3, 1863 (ch. 73, 12 Stat. 710), or section 5115 of this title.
(2)
(A) redeem any currency described in paragraph (1) from the general fund of the Treasury upon presentment to the Secretary; and
(B) cancel and destroy such currency upon redemption.
The Secretary shall not be required to reissue United States currency notes upon redemption.
(c)(1) The Secretary may determine the amount of the following United States currency that will not be presented for redemption because the currency has been destroyed or irretrievably lost:
(A) circulating notes of Federal reserve banks and national banks issued before July 1, 1929, for which the United States Government has assumed liability.
(B) outstanding currency referred to in subsection (b)(1) of this section.
(2) When the Secretary makes a determination under this subsection, the Secretary shall reduce the amount of that currency outstanding by the amount the Secretary determines will not be redeemed and credit the appropriate receipt account.
(d) To provide a historical collection of United States currency, the Secretary may withhold from cancellation and destruction and transfer to a special account one piece of each design, issue, or series of each denomination of each kind of currency (including circulating notes of Federal reserve banks and national banks) after redemption. The Secretary may make appropriate entries in Treasury accounts because of the transfers.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 985; Pub. L. 102–390, title II, §226(b), Oct. 6, 1992, 106 Stat. 1630; Pub. L. 103–325, title VI, §602(g)(14), Sept. 23, 1994, 108 Stat. 2294.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5119(a) | 31:408a(less last proviso). | Jan. 30, 1934, ch. 6, §§6(less last proviso), 11, 15(1st sentence words between 2d and 3d semicolons), 48 Stat. 340, 342, 344. |
| 31:444(1st sentence words between 2d and 3d semicolons). | ||
| 31:822b. | ||
| 5119(b)(1) | 31:405a–3. | June 24, 1967, Pub. L. 90–29, §§1, 2, 81 Stat. 77. |
| 31:911. | June 30, 1961, Pub. L. 87–66, §§2, 5, 6, 9, 10, 75 Stat. 146, 147. | |
| 31:915(a), (b). | ||
| 5119(b)(2) | 31:404. | May 31, 1878, ch. 146, 20 Stat. 87; June 30, 1961, Pub. L. 87–66, §7, 75 Stat. 147. |
| 31:420. | R.S. §3580. | |
| 31:914. | ||
| 31:916. | ||
| 5119(c)(1) | 31:915(c)(words before last comma). | |
| 5119(c)(2) | 31:405a–2. | |
| 31:915(c)(words after last comma). | ||
| 5119(d) | 31:917. |
In subsection (a), the words "Secretary may not redeem" are substituted for "no . . . shall be redeemed" in 31:408a(less last proviso) because of the source provisions restated in section 321 of the revised title. The words "United States currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks)" are substituted for "currency of the United States" and the text of 31:444(1st sentence words between 2d and 3d semicolons) for consistency with section 5103 of this title and to eliminate unnecessary words.
In subsection (b)(1), before clause (A), the words "upon completion of the transfers and credits authorized and directed by section 912 of this title" in 31:915 and "and the amount of the payment credited as a public debt receipt in accordance with such section" are omitted as executed. In clause (B), the text of 31:405a–3(last sentence) and 31:915(a)(4) is consolidated. The text of 31:405a–3(1st sentence) is omitted as executed. In clauses (C) and (E), the citations in parentheses are included only for information purposes.
In subsection (b)(2), the words "cancel and destroy" are substituted for "retired" in 31:914 for consistency in the revised section. The words "paragraph (1) of this subsection" are substituted for "Any currency the funds for the redemption or security of which have been transferred pursuant to the provisions of section 912 of this title, and any Federal Reserve notes as to which payment has been made under section 913 of this title" because of the restatement. The words "presented to the Secretary" are substituted for "presentation at the Treasury" because of the source provisions restated in section 321(c) of the revised title. The text of 31:916 is omitted as unnecessary because of the restatement. The text of 31:404 and 31:420 is omitted as superseded by the source provisions restated in this subsection and subsection (c). The words "All acts and parts of acts in conflict herewith are hereby repealed" in the Act of May 31, 1878 (ch. 146, 20 Stat. 87), are omitted as executed.
In subsection (c)(2), the words "When the Secretary makes a determination under this subsection" are added because of the restatement. The words "on the books of the Treasury" are omitted as surplus. The text of 31:405(e)(2)(1st sentence) is omitted as superseded by the source provisions restated in subsection (b).
In subsection (d), the word "paper" is omitted as surplus. The words "(including circulating notes of Federal Reserve banks and national banks)" are substituted for "including bank notes" for consistency in the section. The words "heretofore or hereafter issued" are omitted as surplus.
Act of July 14, 1890, ch. 708, 26 Stat. 289, referred to in subsec. (b)(1)(C), which was known as the Sherman Purchase of Silver Act of July 14, 1890, was classified to sections 408, 410, 412, and 453 of former Title 31, and sections 122 and 145 of Title 12, Banks and Banking, and was repealed by Pub. L. 97–258, §5(b), Sept. 13, 1982, 96 Stat. 1069.
Section 4 of the Old Series Currency Adjustment Act, referred to in subsec. (b)(1)(D), is section 4 of Pub. L. 87–66, June 30, 1961, 75 Stat. 146, which was classified to section 913 of former Title 31, and was repealed by Pub. L. 97–258, §5(b), Sept. 13, 1982, 96 Stat. 1079.
Acts February 25, 1862, July 11, 1862, and March 3, 1863, and resolution January 17, 1863, referred to in subsec. (b)(1)(E), are acts Feb. 25, 1862, ch. 33, 12 Stat. 345, July 11, 1862, ch. 142, 12 Stat. 532, and Mar. 3, 1863, ch. 73, 12 Stat. 709, and resolution Jan. 17, 1863, 12 Stat. 822, respectively, which are not classified to the Code.
1994—Subsec. (b)(2). Pub. L. 103–325 inserted concluding provisions.
1992—Subsec. (b)(2). Pub. L. 102–390 amended par. (2) generally. Prior to amendment, par. (2) read as follows: "The Secretary shall redeem from the general fund of the Treasury and cancel and destroy currency referred to in paragraph (1) of this subsection when the currency is presented to the Secretary."
(a)(1) The Secretary of the Treasury shall melt obsolete and worn United States coins withdrawn from circulation. The Secretary may use the metal from melting the coins for reminting or may sell the metal. The Secretary shall account for the following in the coinage metal fund under section 5111(b) of this title:
(A) obsolete and worn coins and the metal from melting the coins.
(B) proceeds from the sale of the metal.
(C) losses incurred in the sale of the metal.
(D) losses incurred because of the difference between the face value of the coins melted and the coins minted from the metal.
(2) The Secretary shall reimburse the coinage metal fund for losses under paragraph (1)(C) and (D) of this subsection out of amounts in the coinage profit fund under section 5111(b) of this title.
(b) The Secretary shall—
(1) cancel and destroy (by a secure process) obsolete, mutilated, and worn United States currency withdrawn from circulation; and
(2) dispose of the residue of the currency and notes.
(c) The Comptroller General shall audit the cancellation and destruction of United States currency and the accounting of the cancellation and destruction. Records the Comptroller General considers necessary to make an effective audit easier shall be made available to the Comptroller General.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 986.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5120(a) | 31:317c. | Dec. 18, 1942, ch. 767, §3, 56 Stat. 1065; July 23, 1965, Pub. L. 89–81, §203(a), 79 Stat. 256. |
| 5120(b) | 31:421. | R.S. §3581. |
| 31:422. | June 23, 1874, ch. 455, §1(3d par. under heading "National Currency"), 18 Stat. 206. | |
| 5120(c) | 31:49a. | May 20, 1966, Pub. L. 89–427, §5, 80 Stat. 161. |
In subsection (a)(1), before clause (A), the word "obsolete" is substituted for "uncurrent" as being more precise. The words "withdrawn from circulation" are substituted for "received in the Treasury" for clarity. The words "heretofore or hereafter issued" are omitted as surplus. The words "metal from melting the coins" are substituted for "the resulting metal" because of the restatement. The word "reminting" is substituted for "coinage" for consistency in the revised title. The word "material" is omitted as being included in "metal". The words "The Secretary shall account" are substituted for "shall be accounted for by entries" because of the source provisions restated in section 321 of the revised title. In clause (D), the word "face" is substituted for "nominal or face" to eliminate unnecessary words. The words "coins minted from the metal" are substituted for "the amount the same will produce in new coin" for clarity.
In subsection (a)(2), the words "The Secretary shall reimburse" are substituted for "fund shall be reimbursed" because of the source provisions restated in section 321 of the revised title. The text of 31:317c(proviso) is omitted as obsolete because the statutory limit on the coinage metal fund was removed by the restatement of section 3528 of the Revised Statutes by section 206(a) of the Coinage Act of 1965 (Pub. L. 89–81, 79 Stat. 256).
In subsection (b), before clause (1), the words "The Secretary shall" are substituted for "shall be destroyed in such manner and under such regulations as the Secretary of the Treasury may prescribe" in 31:421 because of the source provisions restated in section 321 of the revised title. In clause (1), the words "cancel and destroy" are substituted for "shall be destroyed" to conform to subsection (c) and section 5118(c) and (e) of the revised title. The words "(by a secure process)" are substituted for "may be destroyed by maceration instead of burning to ashes" in 31:422 to eliminate unnecessary words and because of the source provisions restated in section 321 of the revised title. The words "obsolete, mutilated, and worn . . . withdrawn from circulation" are substituted for "which by law are required to be taken up, and not reissued, when taken up" in 31:421 for consistency with subsection (a) and 12:124. The words "United States currency" are substituted for "all other notes" in 31:421 and "All national bank notes . . . and other obligations of the United States" for consistency in the revised title. The words "Mutilated United States notes, when replaced according to law" are omitted as superseded by the source provisions restated in section 5119(b) of the revised title. The text of the 3d paragraph(words before the first semicolon and between the 2d and last semicolons) under the heading "National Currency" in section 1 of the Act of June 23, 1874 (ch. 455, 18 Stat. 206), is omitted as executed. In clause (2), the words "dispose of the residue of the currency and notes" are substituted for "The pulp from such macerated issue shall be disposed of only under the direction of the Secretary of the Treasury" in 31:422 to eliminate unnecessary words and for consistency in the revised title.
In subsection (c), the word "currency" is substituted for "currency . . . unfit for circulation" to eliminate unnecessary words. The words "regardless of who is responsible for, and regardless of who performs, such cancellation, destruction, or accounting" are omitted as unnecessary because of the restatement. The word "record" is substituted for "books, documents, papers, and records", and the words "make . . . easier" are substituted for "facilitate", for consistency in the revised title and with other titles of the United States Code.
All assets and liabilities of Coinage Profit Fund and Coinage Metal Fund transferred to United States Mint Public Enterprise Fund and both coinage funds to cease to exist as separate funds as their activities and functions are subsumed under and subject to United States Mint Public Enterprise Fund, see section 5136 of this title.
Pub. L. 112–74, div. C, title I, §117, Dec. 23, 2011, 125 Stat. 891, provided that: "In the current fiscal year and each fiscal year hereafter, any person who forwards to the Bureau of Engraving and Printing a mutilated paper currency claim equal to or exceeding $10,000 for redemption will be required to provide the Bureau their taxpayer identification number."
(a) The Secretary of the Treasury shall—
(1) melt and refine bullion;
(2) as required, assay coins, metal, and bullion;
(3) cast gold and silver bullion deposits into bars; and
(4) cast alloys into bars for minting coins.
(b) A person owning gold or silver bullion may deposit the bullion with the Secretary to be cast into fine, standard fineness, or unrefined bars weighing at least 5 troy ounces. When practicable, the Secretary shall weigh the bullion in front of the depositor. The Secretary shall give the depositor a receipt for the bullion stating the description and weight of the bullion. When the Secretary has to melt the bullion or remove base metals before the value of the bullion can be determined, the weight is the weight after the melting or removal of the metals. The Secretary may refuse a deposit of gold bullion if the deposit is less than $100 in value or the bullion is so base that it is unsuitable for the operations of the Bureau of the Mint.
(c) When the gold and silver are combined in bullion that is deposited and either the gold or silver is so little that it cannot be separated economically, the Secretary may not pay the depositor for the gold or silver that cannot be separated.
(d)(1) Under conditions prescribed by the Secretary, a person may exchange unrefined bullion for fine bars when—
(A) gold and silver are combined in the bullion in proportions that cannot be economically refined; or
(B) necessary supplies of acids cannot be procured at reasonable rates.
(2) The charge for refining in an exchange under this subsection may be not more than the charge imposed in an exchange of unrefined bullion for refined bullion.
(e) The Secretary shall prepare bars for payment of deposits. The Secretary shall stamp each bar with a designation of the weight and fineness of the bar and a symbol the Secretary considers suitable to prevent fraudulent imitation of the bar.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 987.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5121(a) | 31:274. | R.S. §3508; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. |
| 31:277. | R.S. §3507. | |
| 31:330. | R.S. §3522. | |
| 31:343. | R.S. §3530; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. | |
| 31:344. | R.S. §3531; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. | |
| 5121(b) | 31:325(words before 4th comma and after last comma). | R.S. §3518. |
| 31:327(1st sentence). | R.S. §3519. | |
| 31:328(1st sentence). | R.S. §3520; Mar. 3, 1887, ch. 396, §3, 24 Stat. 635. | |
| 31:329. | R.S. §3521; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. | |
| 5121(c) | 31:327(last sentence). | |
| 31:328(last sentence). | ||
| 5121(d) | 31:360. | R.S. §3546. |
| 31:362. | June 19, 1878, ch. 329, §1(2d sentence words after last semicolon on p. 191), 20 Stat. 191. | |
| 5121(e) | 31:325(words between 4th and last commas). | |
| 31:347. | R.S. §3534; Aug. 23, 1912, ch. 350, §1(last par. words before 7th comma under heading "Assay Office at Salt Lake City, Utah"), 37 Stat. 384. |
In the section, the word "Secretary" is substituted for "superintendent", "superintendent of melting and refining department", "assayer", "Director of the Mint", and "Director of the Mint, with the approval of the Secretary of the Treasury" because of the source provisions restated in section 321(c) of the revised title.
In subsection (a), clause (1) is added to provide a complete list of the duties and powers of the Secretary and for consistency with section 5131 of the revised title. In clause (2), the words "as required" are substituted for "required by the operations of the Bureau of the Mint" and "whenever required by the superintendent" in 31:277 to eliminate unnecessary words. The text of 31:330 is omitted as superseded by the source provisions restated in section 321(c) of the revised title. In clause (3), the word "bars" is substituted for "bars conformable in all respects to the law" in 31:274 to eliminate unnecessary words. In clause (4), the word "alloys" is substituted for "standard silver or gold, and alloys for minor" in 31:274, and the text of 31:343(last sentence) is omitted, because coins issued by the Secretary under this chapter are composed of alloys. The words "minting coins" are substituted for "coinage" for consistency in the revised chapter. The words "suitable for the superintendent of coining department, from the metals legally delivered to him for that purpose" in 31:274 and the text of 31:274(last sentence) and 31:343(1st, 2d sentences) are omitted as superseded by the source provisions restated in section 321(c) of the revised title. The text of 31:344(last sentence) is omitted as unnecessary because of the restatement of the source provisions in sections 5112 and 5113 of the revised title.
In subsections (b) and (d), the word "unrefined" is substituted for "unparted" for consistency in the revised chapter.
In subsection (b), the words "At the option of the owner" and "as he may prefer" in 31:325 and "for his benefit" in 31:327 are omitted as unnecessary because of the restatement. The words "weighing at least" are substituted for "and no such bars shall be issued of a less weight than" in 31:325 to eliminate unnecessary words. The word "troy" is added for clarity. The words "into coin" in section 3519 of the Revised Statutes are omitted because the coinage of gold was discontinued by 31:315b. The text of 31:329(last sentence) is omitted because of the source provisions restated in section 321(c) of the revised title. The words "and no deposit of silver for other coinage shall be received" in 31:328(1st sentence) are omitted as unnecessary because of the restatement.
In subsection (c), the word "economically" is substituted for "advantageously" in 31:327(last sentence) for consistency in the section. The text of 31:328(last sentence) is omitted as unnecessary because of the source provisions restated in section 5121(a) of the revised title.
In subsection (d)(1), before clause (A), the words "at any of the mints" in 31:360(1st sentence) are omitted as superseded by the source provisions restated in section 321(c) of the revised title. The text of 31:360(2d sentence) is omitted as unnecessary because of the source provisions restated in section 5121(a) of the revised title.
In subsection (d)(2), the words "in an exchange under this subsection" are added for clarity. The word "refining" is substituted for "refining or parting" for consistency in the revised chapter.
In subsection (e), the word "suitable" is substituted for "expedient" in 31:325(words between 4th and last commas) for clarity. The words "but the fineness thereof shall be ascertained and" in 31:347 are omitted as unnecessary because of the source provisions restated in section 5121(a) of the revised title.
The possession of gold coins and bullion was prohibited except under Government license by Ex. Ord. No. 6260, eff. Aug. 28, 1933. That prohibition was revoked by Ex. Ord. No. 11825, Dec. 31, 1974, 40 F.R. 1003, eff. Dec. 31, 1974.
(a) The Secretary of the Treasury shall determine the fineness, weight, and value of each deposit and bar under section 5121 of this title. The value and the amount of charges under subsection (b) of this section shall be based on the fineness and weight of the bullion. The Secretary shall give the depositor a statement of the charges and the net amount of the deposit to be paid in money or bars of the same species of bullion as that deposited.
(b) The Secretary shall impose a charge equal to the average cost of material, labor, waste, and use of machinery of a United States mint or assay office for—
(1) melting and refining bullion;
(2) using copper as an alloy when bullion deposited is above standard;
(3) separating gold and silver combined in the bullion; and
(4) preparing bars.
(c) The Secretary shall pay to the depositor or to a person designated by the depositor money or bars equivalent to the bullion deposited as soon as practicable after the value of the deposit is determined. If demanded, the Secretary shall pay depositors in the order in which the bullion is deposited with the Secretary. However, when there is an unavoidable delay in determining the value of a deposit, the Secretary shall pay subsequent depositors. When practicable and convenient, the Secretary shall pay depositors in the denominations requested by the depositor. After the depositor is paid, the bullion is the property of the United States Government.
(d) To allow the Secretary to pay depositors with as little delay as possible, the Secretary shall keep in the mints and assay offices, when possible, money and bullion the Secretary decides are convenient and necessary.
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 987.)
| Revised Section | Source (U.S. Code) | Source (Statutes at Large) |
|---|---|---|
| 5122(a) | 31:273(last sentence). | R.S. §3506(last sentence). |
| 31:331. | R.S. §3523. | |
| 31:334. | R.S. §3525. | |
| 5122(b) | 31:332. | R.S. §3524; Jan. 14, 1875, ch. 15, §2(words before comma), 18 Stat. 296; Mar. 1, 1881, ch. 95, 21 Stat. 374; Mar. 3, 1887, ch. 396, §3, 24 Stat. 635. |
| 5122(c) | 31:357. | R.S. §3544. |
| 31:358(2d sentence). | R.S. §3545; June 19, 1878, ch. 329, §1(last par. 1st sentence words before 1st semicolon under heading "Mint at Denver, Colorado"), 20 Stat. 191. | |
| 5122(d) | 31:358(1st, last sentences). |
In subsection (a), the words "Secretary of the Treasury" are substituted for "he" in 31:273(last sentence) because of the source provisions restated in section 321 of the revised title. The words "fineness, weight, and value of each deposit and bar" and "The value and the amount of charges . . . shall be based on the fineness and weight of the bullion" are substituted for "From the report of the assayer and the weight of the bullion" for clarity and because of the restatement. The words "or deductions, if any" are omitted as being included in "charges". The word "money" is substituted for "in coins" for clarity. The text of 31:331 and 334 is omitted as unnecessary because of the restatement. The text of 31:273(last sentence words after 7th comma) is omitted because of the source provisions restated in section 321 of the revised title.
In subsection (b), the words "Secretary shall impose a charge" are substituted for "shall be fixed, from time to time, by the director, with the concurrence of the Secretary of the Treasury" because of the source provisions restated in section 321(c) of the revised title. The words "for toughening when metals are contained in it which render it unfit for coinage" are omitted as obsolete because the Secretary of the Treasury has authority to mint coins containing silver only under section 5112(e) of the revised title and the Secretary holds sufficient silver to mint those coins. See Sen. Rept. No. 91–1084 (1970).
In subsection (c), the words "person designated by the depositor" are substituted for "his order" for clarity. The words "an unavoidable delay in determining the value of a deposit" are substituted for "delay in manipulating a refractory deposit, or for any other unavoidable cause" in 31:357 for clarity.
In subsection (d), the words "the Secretary to pay depositors" are substituted for "the several mints and assay offices of the United States to make returns to depositors" because of the source provisions restated in section 321(c) of the revised title. The words "when the state of the Treasury will admit thereof" are omitted as surplus. The words "under such rules and regulations as may be prescribed by the said Secretary" are omitted as unnecessary because of section 321(b) of the revised title. The text of 31:358(last sentence) is omitted as surplus.