H. R. 2968
IN THE HOUSE OF REPRESENTATIVES
September 20, 2011
Mr. Wittman 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 President James Monroe, and for other purposes.
This Act may be cited as the
James Monroe Commemorative Coin
The Congress hereby finds as follows:
James Monroe was the only United States President besides George Washington to have actively served in the regular military during the Revolutionary War.
participated in the Battles of Harlem Heights and White Plains;
crossed the Delaware River in advance of George Washington;
was seriously wounded at the Battle of Trenton and cited for conspicuous gallantry;
wintered with the Continental Army at Valley Forge; and
subsequently participated in the Battles of Brandywine, Germantown and Monmouth.
James Monroe served at the State level in the Virginia House of Delegates and served 4 times as the Governor of Virginia.
James Monroe served at the national level as a member of the Continental Congress, United States Senator, Minister to France (negotiating the Louisiana Purchase), Minister to Spain, Minister to England, Secretary of War, and Secretary of State (he was the only person to ever hold those 2 posts simultaneously, defending the Nation during the War of 1812), and finally as President of the United States from 1817–1825.
accomplishments as President included the purchase of Florida, limiting the
expansion of slavery, the admission of Maine and Missouri as States, and the
promulgation of principles that became known as the
Doctrine on December 2, 1823, expanding the concept of hemispheric
independence beyond the United States—truly making him one of the most
important figures in our Nation's history.
The bicentennial of the election of James
Monroe as President will occur in 2016, an election which ushered in what has
been known since as the
Era of Good Feelings.
In commemoration of the bicentennial of the election of James Monroe to the first of 2 terms as President of the United States of America, the Secretary of the Treasury (hereafter in this Act referred to as the “Secretary”) shall mint and issue the following coins:
$50 gold coins
Not more than 20,000 $50 gold coins which shall—
weigh 33.931 grams;
have a diameter of 32.7 millimeters; and
contain 1 troy ounce of fine gold.
$1 silver coins
Not more than 275,000 $1 coins which shall—
weigh 26.73 grams;
have a diameter of 1.500 inches; and
contain 90 percent silver and 10 percent copper.
Half dollar clad coins
Not more than 500,000 half dollar coins, which shall—
weigh 11.34 grams;
have a diameter of 1.205 inches; and
be minted to the specifications for half dollar coins, contained in section 5112(b) of title 31, United States Code.
The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code.
For purposes of section 5134 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 be emblematic of President James Monroe and his immeasurable contributions to the United States.
The obverse of the coins minted under this Act shall bear the side profile image of President James Monroe based upon Rembrandt Peale's 1830 portrait which the James Monroe Memorial Foundation donated to The Commonwealth of Virginia in 1964.
The reverse of the coins minted under this Act shall bear the image of the Monroe birthplace as drawn by the Colonial Williamsburg Foundation based on the 1830 drawing published as an etching.
Designations 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 James Monroe Memorial Foundation and the Commission of Fine Arts; and
be reviewed by the Citizens Coinage Advisory Committee.
Issuance of coins
Quality of coins
Coins minted under this Act shall be issued in uncirculated and proof qualities.
For each of the 3 coins minted under this Act, at least 1 facility of the United States Mint shall be used to strike proof quality coins, while at least 1 other such facility shall be used to strike the uncirculated quality coins.
Period for issuance
The Secretary may issue coins minted under this Act only during the 1-year period beginning on January 1, 2016.
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 7(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 $50 coin.
A surcharge of $10 per coin for the $1 coin.
A surcharge of $5 per coin for the half dollar coin.
Subject to section 5134(f) of title 31, United States Code, all surcharges received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the James Monroe Memorial Foundation for use for the following purposes:
Development of the reconstructed birthplace of the 5th President, associated farm buildings, and a visitor and education center at the James Monroe Birthplace in Westmoreland County, Virginia.
Continuing support of that facilities described in paragraph (1), including the acquisition of land originally owned by the Monroe Family.
Supporting education programs about President James Monroe, the Monroe Doctrine, including an online library.
preserving artifacts and historical items related to President Monroe, the
Monroe Doctrine, and his era which was known as
The Era of Good
The James Monroe Memorial Foundation 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 such Foundation under subsection (b).
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.