H.R. 4107 (112th): World War I American Veterans Centennial Commemorative Coin Act

112th Congress, 2011–2013. Text as of Feb 29, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

I

112th CONGRESS

2d Session

H. R. 4107

IN THE HOUSE OF REPRESENTATIVES

February 29, 2012

(for himself, Mr. Cleaver, Ms. Bordallo, Mr. Austria, Ms. Norton, and Mr. Latta) 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 the centennial of World War I.

1.

Short title

This Act may be cited as the World War I American Veterans Centennial Commemorative Coin Act.

2.

Findings; Purpose

(a)

Findings

The Congress finds the following:

(1)

The year 2017 is the 100th Anniversary of America’s entrance into World War I.

(2)

On the 6th of April 1917, the United States of America entered World War I by declaring war against Germany.

(3)

Two million American soldiers served overseas during World War I.

(4)

More than four million men and women from the United States served in uniform during World War I.

(5)

The events of 1914 through 1918 shaped the world and the lives of millions of people for decades.

(6)

Over 9 million soldiers worldwide lost their lives between 1914 and 1918.

(7)

The centennial of America’s involvement in World War I offers an opportunity for people in the United States to commemorate the commitment of their predecessors.

(8)

Frank Buckles, the last American veteran from World War I died on February 27, 2011.

(9)

He was our last direct American link to the war to end all wars.

(10)

While other great conflicts, including the Civil War, World War II, the Korean War, and the Vietnam War, have all been memorialized on United States commemorative coins, there currently exists no coin to honor the brave veterans of World War I.

(b)

Purpose

The purpose of this Act is to—

(1)

commemorate the centennial of America’s involvement in World War I; and

(2)

honor the over 4 million men and women from the United States who served during World War I.

3.

Coin specifications

(a)

$1 Silver Coins

The Secretary of the Treasury (hereafter in this Act referred to as the Secretary) shall mint and issue not more than 350,000 $1 coins in commemoration of the centennial of America’s involvement in World War I, each of which shall—

(1)

weigh 26.73 grams;

(2)

have a diameter of 1.500 inches; and

(3)

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 sections 5134 and 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.

4.

Design of coins

(a)

Design Requirements

(1)

In general

The design of the coins minted under this Act shall be emblematic of the centennial of America’s involvement in World War I.

(2)

Designation and inscriptions

On each coin minted under this Act, there shall be—

(A)

a designation of the value of the coin;

(B)

an inscription of the year 2017; and

(C)

inscriptions of the words Liberty, In God We Trust, United States of America, and E Pluribus Unum.

(b)

Selection

The design for the coins minted under this Act shall be selected by the Secretary based on the winning design from a juried, compensated design competition described under subsection (c).

(c)

Design competition

The Secretary shall hold a competition and provide compensation for its winner to design the obverse and reverse of the coins minted under this Act. The competition shall be held in the following manner:

(1)

The competition shall be judged by an expert jury chaired by the Secretary and consisting of 3 members from the Citizens Coinage Advisory Committee who shall be elected by such Committee and 3 members from the Commission of Fine Arts who shall be elected by such Commission.

(2)

The Secretary shall determine compensation for the winning design, which shall be not less than $5,000.

(3)

The Secretary may not accept a design for the competition unless a plaster model accompanies the design.

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 one facility of the United States Mint may be used to strike any particular quality of the coins minted under this Act.

(c)

Period for Issuance

The Secretary may issue coins under this Act only during the calendar year beginning on January 1, 2017.

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 surcharge provided in section 7 with respect to such coins; and

(3)

the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, 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

(1)

In general

The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins.

(2)

Discount

Sale prices with respect to prepaid orders under paragraph (1) shall be at a reasonable discount.

7.

Surcharges

(a)

In General

All sales of coins issued under this Act shall include a surcharge of $10 per coin.

(b)

Distribution

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 World War I Memorial Foundation.

(c)

Audits

The Comptroller General of the United States shall have the right to examine such books, records, documents, and other data of the World War I Memorial Foundation as may be related to the expenditures of amounts paid under subsection (b).

(d)

Limitation

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. The Secretary may issue guidance to carry out this subsection.