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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Oct 13, 2011.
U.S.S. Cruiser Olympia Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue during calendar year 2016 up to 500,000 $1 silver coins in commemoration of the legacy of the U.S.S. Cruiser Olympia, the sole surviving U.S. naval ship of the Spanish-American War and the world's oldest steel warship afloat.
Prescribes a surcharge of $10 per coin, to be paid to the Friends of the Cruiser Olympia to restore and preserve the ship.