< Back to H.R. 631 (107th Congress, 2001–2002)

Text of the Project Apollo Commemorative Coin Act of 2001

This bill was introduced on February 14, 2001, in a previous session of Congress, but was not enacted. The text of the bill below is as of Feb 14, 2001 (Introduced).

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Source: GPO

HR 631 IH

107th CONGRESS

1st Session

H. R. 631

To require the Secretary of the Treasury to mint coins in commemoration of Project Apollo.

IN THE HOUSE OF REPRESENTATIVES

February 14, 2001

Mr. COOKSEY (for himself, Mr. CRAMER, and Mr. WELDON of Florida) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To require the Secretary of the Treasury to mint coins in commemoration of Project Apollo.

    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 ‘Project Apollo Commemorative Coin Act of 2001’.

SEC. 2. FINDINGS.

    Congress finds the following:

      (1) Project Apollo in general, and the flight of Apollo 11 in particular, were milestones in the history of our Nation.

      (2) When referring to Project Apollo, historian Arthur Schlesinger, Jr., observed, ‘The one thing for which this century will be remembered 500 years from now was: This was the century when we began the exploration of space.’

      (3) Project Apollo helped demonstrate the technological and economic strength of the United States at the height of the cold war.

      (4) Project Apollo was an engineering triumph that successfully achieved the policy goals set by President Kennedy.

      (5) In only 9 years, Project Apollo advanced rocket technology from the 28-foot Redstone rocket which produced 78,000 pounds of thrust to the 363-foot Saturn V which produced 7.7 million pounds of thrust, which is comparable to building a modern commercial aircraft 9 years after the Wright brothers built their first airplane.

      (6) The Apollo flights are among the high points of our human achievement and allowed the entire world to view the planet Earth in a new way.

SEC. 3. COIN SPECIFICATIONS.

    (a) DENOMINATIONS- In commemoration of the 35th anniversary of the Apollo 11 landing, and notwithstanding section 5112(m)(1) of title 31, United States Code, the Secretary of the Treasury (hereafter in this Act referred to as the ‘Secretary’) shall mint and issue the following:

      (1) $5 GOLD COINS- Not more than 100,000 $5 coins, each of which shall--

        (A) weigh 8.359 grams;

        (B) have a diameter of 0.850 inches; and

        (C) contain 90 percent gold and 10 percent alloy.

      (2) $1 SILVER COINS- Not more than 500,000 $1 coins, each of which shall--

        (A) weigh 26.73 grams;

        (B) have a diameter of 1.500 inches; and

        (C) contain 90 percent silver and 10 percent copper.

    (b) LEGAL TENDER- The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code.

    (c) NUMISMATIC ITEMS- For purposes of section 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.

    (d) SOURCES OF BULLION- The Secretary may obtain silver for minting coins under this Act from any available source, including stockpiles established under the Strategic and Critical Materials Stock Piling Act (Public Law 76-117; 50 U.S.C. 98, et seq.).

SEC. 4. DESIGN OF COINS.

    (a) IN GENERAL- The design of the coins minted under this Act shall be emblematic of the 35th anniversary of the Apollo 11 lunar landing.

    (b) DESIGNATION AND INSCRIPTIONS- On each coin minted under this Act there shall be--

      (1) a designation of the value of the coin;

      (2) an inscription of the year ‘2004’; and

      (3) inscriptions of the words ‘Liberty’, ‘In God We Trust’, ‘United States of America’, and ‘E Pluribus Unum’.

    (c) SELECTION- The design for the coins minted under this Act shall be selected by the Secretary after--

      (1) consultation with the Commission of Fine Arts; and

      (2) receiving the advice of 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 on January 1, 2004.

    (d) TERMINATION OF MINTING- No coins may be minted under this Act after December 31, 2004.

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 surcharges required by section 7(a) with respect to such coins; and

      (3) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, discounts, 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- The Secretary shall accept prepaid orders received before January 1, 2004 for the coins minted under this Act. The sale prices with respect to such prepaid orders shall be at a reasonable discount.

SEC. 7. SURCHARGES.

    (a) ASSESSMENT- Any sale by the Secretary of a coin minted under this Act shall include a surcharge as follows:

      (1) A surcharge of $35 per coin for the $5 coin.

      (2) A surcharge of $10 per coin for the $1 coin.

    (b) DISTRIBUTION-

      (1) IN GENERAL- Subject to section 5134(f) of title 31, United States Code, the proceeds from the surcharges received by the Secretary from the sale of coins issued under this Act shall be paid promptly by the Secretary to the National Air and Space Museum of the Smithsonian Institution for the purposes of--

        (A) collecting, exhibiting, and caring for objects related to Project Apollo; and

        (B) documenting and researching the mission of Project Apollo (including a collective outreach to the workers associated with Project Apollo for the contribution of their memories regarding Project Apollo).

      (2) AUDITS- The National Air and Space Museum of the Smithsonian Institution shall be subject to the audit requirements of section 5134(f)(2) of title 31, United States Code, with regard to the amounts received by the museum under paragraph (1).

SEC. 8. 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 does not result in any net cost to the United States Government.

    (b) PAYMENT FOR COINS- The Secretary shall not issue a coin minted under this Act unless the Secretary has first 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, the deposits of which are insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration Board.