H. R. 3341
IN THE HOUSE OF REPRESENTATIVES
July 24, 2009
Mr. Latta (for himself, Mr. Bilbray, Mr. Lewis of California, Mr. Rohrabacher, Mr. Gallegly, Mr. Boozman, Mr. Rogers of Michigan, Mr. Bartlett, Mr. Cao, Mr. Nunes, Mr. Lamborn, Mr. Gingrey of Georgia, Mr. Wolf, Mr. Burton of Indiana, Mr. Kline of Minnesota, Mr. Issa, Mr. Calvert, Mr. Rogers of Kentucky, Mr. McCarthy of California, Mr. Blunt, Mr. Austria, Mr. Radanovich, Mrs. Bono Mack, Mr. Chaffetz, Mr. Poe of Texas, Mr. Smith of Nebraska, Mr. Scalise, Mrs. Myrick, Mr. Conaway, and Mrs. Blackburn) introduced the following bill; which was referred to the Committee on Financial Services
To require the Secretary of the Treasury to mint coins in commemoration of Ronald Wilson Reagan, the 40th President of the United States.
This Act may be cited as the
Ronald Reagan Commemorative Coin Act of
The Secretary of the Treasury (hereafter in
this Act referred to as the
Secretary) shall mint and issue the
$5 gold coin
Not more than 50,000 $5 coins, which shall—
weigh 8.359 grams;
have a diameter of 0.850 inches; and
contain 90 percent gold and 10 percent alloy.
$1 silver coin
Not more than 300,000 $1 coins, which shall—
weigh 26.73 grams;
have a diameter of 1.500 inches; and
contain 90 percent silver and 10 percent copper.
The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code.
For purposes of sections 5134 and 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.
Design of coins
The design of the coins minted under this Act shall—
bear an image of former President Ronald Wilson Reagan on the obverse side; and
bear a design on the reverse side that is similar to the depiction of an American eagle carrying an olive branch, flying above a nest containing another eagle and hatchlings.
Designation and inscriptions
On each coin minted under this Act, there shall be—
a designation of the value of the coin;
an inscription of
In God We Trust,
States of America, and
E Pluribus Unum.
The design for the coins minted under this Act shall be—
selected by the Secretary, after consultation with the Commission of Fine Arts; and
reviewed by the Citizens Commemorative Coin Advisory Committee.
Issuance of coins
Quality of coins
Coins minted under this Act shall be issued in uncirculated and proof qualities.
Only 1 facility of the United States Mint may be used to strike any particular quality of the coins minted under this Act.
Commencement of issuance
The Secretary may issue coins minted under this Act beginning on January 1, 2013, except that the Secretary may initiate sales of such coins, without issuance, before such date.
Termination of minting authority
No coins shall be minted under this Act after December 31, 2013.
Sale of coins
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 section 6(a) with respect to such coins; and
the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).
The Secretary shall make bulk sales of the coins issued under this Act at a reasonable discount.
The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins.
Sale prices with respect to prepaid orders under paragraph (1) shall be at a reasonable discount.
All sales of coins minted under this Act shall include a surcharge as follows:
A surcharge of $35 per coin for the $5 coin.
A surcharge of $10 per coin for the $1 coin.
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 Army Emergency Fund to be used by the Army Emergency Fund for the purposes of providing financial assistance to any of the following individuals:
An individual who is an Army active duty soldier, single or married, or a dependent of such a soldier.
A member of the Army National Guard or Army Reserve on continuous active duty under title 10, United States Code, for more than 30 consecutive days, or a dependent of such a member.
A soldier retired from active duty because of longevity or physical disability, including any Army National Guard or Army Reserve soldier who is in receipt of Army retired pay, or any authorized dependent of such soldier.
A surviving spouse or dependent child of a soldier who died while on active duty or after retirement.
The Army Emergency Fund shall be subject to the audit requirements of section 5134(f)(2) of title 31, United States Code, with regard to such funds.
Notwithstanding subsection (a), no surcharge may be included with respect to the issuance under this Act of any coin during a calendar year if, as of the time of such issuance, the issuance of such coin would result in the number of commemorative coin programs issued during such year to exceed the annual 2 commemorative coin program issuance limitation under section 5112(m)(1) of title 31, United States Code (as in effect on the date of the enactment of this Act). The Secretary of the Treasury may issue guidance to carry out this subsection.