[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 1111 Introduced in Senate (IS)]
103d CONGRESS
1st Session
S. 1111
To authorize the minting of coins to commemorate the Vietnam Veterans
Memorial in Washington, D.C.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 5, 1993
Mr. Kerrey (for himself, Mr. McCain, and Mr. Kerry) introduced the
following bill; which was read twice and referred to the Committee on
Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To authorize the minting of coins to commemorate the Vietnam Veterans
Memorial in Washington, D.C.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Vietnam Veterans Memorial
Commemorative Coin Act of 1994''.
SEC. 2. COIN SPECIFICATIONS.
(a) One Dollar Silver Coins.--
(1) Issuance.--The Secretary of the Treasury (hereafter in
this Act referred to as the ``Secretary'') shall issue not more
than 500,000 $1 coins, which shall weigh 26.73 grams, have a
diameter of 1.500 inches, and shall contain 90 percent silver
and 10 percent copper.
(2) Design.--The design of the coins issued under this Act
shall be emblematic of the Vietnam Veterans Memorial in
Washington, D.C. On each such coin there shall be a designation
of the value of the coin, an inscription of the year ``1994'',
and inscriptions of the words ``Liberty'', ``In God We Trust'',
``United States of America'', and ``E Pluribus Unum''.
(b) Legal Tender.--The coins issued under this Act shall be legal
tender as provided in section 5103 of title 31, United States Code.
SEC. 3. SOURCES OF BULLION.
The Secretary shall obtain silver for the coins minted under this
Act only from stockpiles established under the Strategic and Critical
Materials Stock Piling Act.
SEC. 4. SELECTION OF DESIGN.
The design for the coins authorized by this Act shall be selected
by the Secretary after consultation with the Vietnam Veterans Memorial
Fund and the Commission of Fine Arts. As required by section 5135 of
title 31, United States Code, the design shall also be reviewed by the
Citizens Commemorative Coin Advisory Committee.
SEC. 5. ISSUANCE OF THE COINS.
(a) Quality of Coins.--The coins authorized under this Act may be
issued in uncirculated and proof qualities.
(b) Mint Facility.--Not more than 1 facility of the United States
Mint may be used to strike any particular quality of the coins minted
under this Act.
(c) Sunset Provision.--No coins shall be minted under this Act
after April 1, 1995.
SEC. 6. SALE OF THE COINS.
(a) Sale Price.--The coins issued under this Act shall be sold by
the Secretary at a price equal to the sum of the face value of the
coins, the surcharge provided in subsection (d) with respect to such
coins, and the cost of designing and issuing such coins (including
labor, materials, dies, use of machinery, overhead expenses, marketing,
and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales at a
reasonable discount.
(c) Prepaid Orders.--The Secretary shall accept prepaid orders for
the coins authorized under this Act prior to the issuance of such
coins. Sales under this subsection shall be at a reasonable discount.
(d) Surcharge Required.--All sales shall include a surcharge of $10
per coin.
SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.
No provision of law governing procurement or public contracts shall
be applicable to the procurement of goods or services necessary for
carrying out the provisions of this Act. Nothing in this section shall
relieve any person entering into a contract under the authority of this
Act from complying with any law relating to equal employment
opportunity.
SEC. 8. DISTRIBUTION OF SURCHARGES.
The total surcharges collected by the Secretary from the sale of
the coins issued under this Act shall be promptly paid by the Secretary
to the Vietnam Veterans Memorial Fund to assist the Vietnam Veterans
Memorial Fund's efforts to raise an endowment to be a permanent source
of support for the repair, maintenance, and the addition of the names
of veterans to the Vietnam Veterans Memorial.
SEC. 9. AUDITS.
The Comptroller General of the United States shall have the right
to examine such books, records, documents, and other data of the
Vietnam Veterans Memorial Fund as may be related to the expenditure of
amounts paid under section 8.
SEC. 10. NUMISMATIC PUBLIC ENTERPRISE FUND.
The coins issued under this Act are subject to the provisions of
section 5134 of title 31, United States Code, relating to the
Numismatic Public Enterprise Fund.
SEC. 11. FINANCIAL ASSURANCES.
(a) No Net Cost to the Government.--The Secretary shall take all
actions necessary to ensure that the issuance of the coins authorized
by this Act shall result in no net cost to the United States
Government.
(b) Adequate Security for Payment Required.--No coin shall be
issued under this Act unless the Secretary has received--
(1) full payment therefor;
(2) security satisfactory to the Secretary to indemnify the
United States for full payment; or
(3) a guarantee of full payment satisfactory to the
Secretary from a depository institution whose deposits are
insured by the Federal Deposit Insurance Corporation or the
National Credit Union Administration Board.
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