[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 2007 Introduced in Senate (IS)]
103d CONGRESS
2d Session
S. 2007
To require the Secretary of the Treasury to mint coins in commemoration
of the 50th anniversary of the end of World War II and General George
C. Marshall's service therein.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
April 11, 1994
Mr. Wofford introduced the following bill; which was read twice and
referred to the Committee on Banking, Housing, and Urban Affairs
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of the 50th anniversary of the end of World War II and General George
C. Marshall's service therein.
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 ``George C. Marshall Commemorative
Coin Act of 1994''.
SEC. 2. COIN SPECIFICATIONS.
(a) $1 Silver Coins.--The Secretary of the Treasury (hereafter in
this Act referred to as the ``Secretary'') shall mint and issue not
more than 500,000 $1 coins, which shall--
(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches; and
(3) contain 90 percent silver and 10 percent copper.
(b) Legal Tender.--The coins issued under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of section 5134 of title 31,
United States Code, the coins minted under this Act shall be considered
to be numismatic items.
SEC. 3. SOURCES OF BULLION.
The Secretary shall obtain silver for minting coins under this Act
only from stockpiles established under the Strategic and Critical
Materials Stock Piling Act.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall have the likeness of George C. Marshall on the
obverse side of such coins.
(2) Designation and inscriptions.--On each coin minted
under this Act there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the year ``1995''; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Selection.--The design for the coins minted under this Act
shall be--
(1) selected by the Secretary after consultation with the
Friends of George C. Marshall and the Commission of Fine Arts;
and
(2) reviewed by the Citizens Commemorative Coin Advisory
Committee.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facility.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under this
Act.
(c) Commencement of Issuance.--The Secretary may issue coins minted
under this Act beginning January 1, 1995.
(d) Termination of Minting Authority.--No coins may be minted under
this Act after December 31, 1995.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins issued under this Act shall be sold by
the Secretary at a price equal to the sum of--
(1) the face value of the coins;
(2) the surcharge provided in subsection (d) with respect
to such coins; and
(3) the cost of designing and issuing the coins (including
labor, materials, dies, use of machinery, overhead expenses,
marketing, and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders
for the coins minted under this Act before the issuance of such
coins.
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) shall be at a reasonable discount.
(d) Surcharges.--All sales shall include a surcharge of $7 per
coin.
SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.
(a) In General.--Except as provided in subsection (b), no provision
of law governing procurement or public contracts shall be applicable to
the procurement of goods and services necessary for carrying out the
provisions of this Act.
(b) Equal Employment Opportunity.--Subsection (a) shall not 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.
(a) In General.--All surcharges received by the Secretary from the
sale of coins issued under this Act shall be promptly paid by the
Secretary to the Friends of George C. Marshall to be used solely for
the construction of the George C. Marshall Memorial and Visitor Center
in Uniontown, Pennsylvania.
(b) Audits.--The Comptroller General of the United States shall
have the right to examine such books, records, documents, and other
data of the Friends of George C. Marshall as may be related to the
expenditures of amounts paid under subsection (a).
SEC. 9. FINANCIAL ASSURANCES.
(a) No Net Cost to the Government.--The Secretary shall take such
actions as may be necessary to ensure that minting and issuing coins
under this Act will not result in any net cost to the United States
Government.
(b) Payment for Coins.--A coin shall not be issued under this Act
unless the Secretary has received--
(1) full payment for the coin;
(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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