article: SECTION 1. SHORT TITLE. This Act may be cited as the ``United States Mint Bicentennial Coin Act''. SEC. 2. COIN SPECIFICATIONS. (a) Five Dollar Gold Coins.--The Secretary of the Treasury (hereafter in this Act referred to as the ``Secretary'') shall mint and issue not more than 350,000 five dollar coins each of which shall weigh 8.359 grams, have a diameter of .0850 inches, and shall contain 90 percent gold and 10 percent alloy. (b) One Dollar Silver Coins.--The Secretary shall issue not more than 1,000,000 one dollar coins each of which shall weigh 26.73 grams, have a diameter of 1.5 inches, and be composed of 90 percent silver and 10 percent copper. (c) Half Dollar Silver Coins.--The Secretary shall issue not more than 1,750,000 half dollar coins each of which shall weigh 12.50 grams, have a diameter of 1.205 inches, and be composed of 90 percent silver and 10 percent copper. SEC. 3. SOURCES OF BULLION. (a) Gold.--The Secretary shall obtain gold for the coins minted under this Act pursuant to the authority of the Secretary under existing law. (b) Silver.--The Secretary shall obtain silver for the coins minted under this Act from stockpiles established under the Strategic and Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.). SEC. 4. DESIGN. (a) Design of Five Dollar Gold Coins.--The design of the five dollar coins shall portray Alexander Hamilton on the obverse. The reverse shall display the scene of the inspection of the first United States coins. On each coin authorized hereunder there shall be a designation of the value of the coin, and inscriptions of the words ``United States of America'', ``E Pluribus Unum'', ``In God We Trust'' and ``Liberty''. (b) Design of One Dollar Silver Coins.--The obverse of the one dollar coins shall portray Thomas Jefferson, the first Secretary of State, and shall honor his 250th birthday. The reverse shall display the first coining press--United States Mint. On each coin authorized hereunder there shall be a designation of the value of the coin and inscriptions of the words ``United States of America'', ``E Pluribus Unum'', ``In God We Trust'' and ``Liberty''. (c) Design of the Half Dollar Silver Coins.--The design of the half dollar silver coins shall depict on the obverse David Rittenhouse, the first Director of the United States Mint. The reverse shall show the first mint building. On each coin authorized hereunder there shall be a designation of the value of the coin and inscriptions of the words ``United States of America'', ``E Pluribus Unum'', ``In God We Trust'' and ``Liberty''. SEC. 5. SALE OF COINS. (a) Sale Price.--Notwithstanding any other provision of law, the coins issued under this Act shall be sold by the Secretary at a price equal to the face value, plus the cost of designing and issuing such coins (including labor, materials, dies, use of machinery, overhead expenses, marketing and shipping). (b) Bulk Sales.--The Secretary shall make bulk sales at a reasonable discount. (c) Surcharge Required.--All sales shall include a surcharge of $30 per coin for the five dollar coins, $7 per coin for the one dollar coins and $2 per coin for the half dollar coins. (d) Reports to Congress.-- (1) Not later than 15 days after the last day of each month, the Secretary shall transmit to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate. (2) Each report submitted pursuant to paragraph (1) shall include a review of all marketing activities under this section and a financial statement which details sources of funds, surcharges generated, and expenses incurred for manufacturing, materials, overhead, packaging, marketing and shipping. SEC. 6. ISSUANCE OF THE COINS. (a) Period of Issuance.--The coins authorized under this Act shall be minted and available for issue no later than July 15, 1993, but shall be issued only during 1993. (b) Proof of Uncirculated Coins.--The coins authorized under this Act shall be issued in uncirculated and proof qualities. (c) Bureau of the Mint.--Not more than one facility of the Bureau of the Mint may be used to strike any particular combination of denomination and quality. 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 or 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 which are received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the Smithsonian Institution for the National Numismatic Collection. (b) Use of Proceeds.--Amounts received under subsection (a) shall be used by the Executive Director of the National Numismatic Collection to establish-- (1) an endowment fund for the purpose of purchasing needed reference materials and numismatic items for the National Numismatic Collection; and (2) an endowment fund to promote numismatic study, finance symposia and travel and publicize the results of any advancements; and (3) establish a fund to renovate the permanent and temporary exhibit facilities of the National Numismatic Collection. 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 organizing committee as may be related to the expenditure of amounts paid under section 208. SEC. 10. FINANCIAL ASSURANCES. (a) No Net Cost.--The Secretary shall take such actions as may be necessary to ensure that the minting and issuance of the coins referred to in section 202 shall not result in any net cost to the Federal Government. (b) Payment Assurances.--No coin shall be issued under this Act unless the Secretary has received-- (1) full payment for such 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, the deposits are insured by the 20 Federal Deposit Insurance Corporations or the National Credit Union Administration.
summary: United States Mint Bicentennial Coin Act - Directs the Secretary of the Treasury to mint coins in commemoration of the 200th anniversary of the establishment of the United States Mint. Prescribes the designs for the ensuing five-dollar gold coins, one-dollar silver coins, and half-dollar silver coins. Restricts issuance of such coins to 1993. Mandates that all surcharges received from the sale of such coins be paid to the Smithsonian Institution for the National Numismatic Collection. Requires the Executive Director of the National Numismatic Collection to establish specified funds with the surcharge proceeds. Prescribes financial assurances.