[105th Congress Public Law 268]
[From the U.S. Government Printing Office]
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[DOCID: f:publ268.105]
[[Page 2377]]
LIBRARY OF CONGRESS BICENTENNIAL COMMEMORATIVE COIN ACT OF 1998
[[Page 112 STAT. 2378]]
Public Law 105-268
105th Congress
An Act
To require the Secretary of the Treasury to mint coins in commemoration
of the bicentennial of the Library of Congress. <<NOTE: Oct. 19,
1998 - [H. R. 3790]>>
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, <<NOTE: Library of
Congress Bicentennial Commemorative Coin Act of 1998. 31 USC 5112
note.>>
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Library of Congress Bicentennial
Commemorative Coin Act of 1998''.
SEC. 2. COIN SPECIFICATIONS.
(a) Denominations.--The Secretary of the Treasury (hereafter in this
Act referred to as the ``Secretary'') shall mint and issue the following
coins:
(1) $5 gold coins.--Not more than 100,000 $5 coins, 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, 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) Bimetallic Coins.--The Secretary may mint and issue not more
than 200,000 $10 bimetallic coins of gold and platinum instead of the
gold coins required under subsection (a)(1) in accordance with such
specifications as the Secretary determines to be appropriate.
(c) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
SEC. 3. SOURCES OF BULLION.
(a) Platinum and Gold.--The Secretary shall obtain platinum and gold
for minting coins under this Act from available sources.
(b) Silver.--The Secretary may obtain silver for minting coins under
this Act from stockpiles established under the Strategic and Critical
Materials Stock Piling Act and from other available sources.
SEC. 4. DESIGN OF COINS.
(a) Design Requirements.--
(1) In general.--The design of the coins minted under this
Act shall be emblematic of the Library of Congress.
(2) Designation and inscriptions.--On each coin minted under
this Act there shall be--
[[Page 112 STAT. 2379]]
(A) a designation of the value of the coin;
(B) an inscription of the year ``2000''; 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--
(1) selected by the Secretary after consultation with the
Library of Congress and the Commission of Fine Arts; and
(2) reviewed by 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 one facility of the United States Mint may
be used to strike any particular combination of denomination and quality
of the coins minted under this Act.
(c) Period for Issuance.--The Secretary may issue coins minted under
this Act only during the period beginning on January 1, 2000, and ending
on December 31, 2000.
(d) Promotion Consultation.--The Secretary shall--
(1) consult with the Library of Congress in order to
establish a role for the Library of Congress in the promotion,
advertising, and marketing of the coins minted under this Act;
and
(2) if the Secretary determines that such action would be
beneficial to the sale of coins minted under this Act, enter
into a contract with the Library of Congress to carry out the
role established under paragraph (1).
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 surcharge provided in subsection (d) 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.
(d) Surcharges.--All sales shall include a surcharge
established by the Secretary, in an amount equal to not more than--
(1) $50 per coin for the $10 coin or $35 per coin for the $5
coin; and
(2) $5 per coin for the $1 coin.
[[Page 112 STAT. 2380]]
SEC. 7. DISTRIBUTION OF SURCHARGES.
All surcharges received by the Secretary from the sale of coins
issued under this Act shall be paid by the Secretary to the Library of
Congress Trust Fund Board in accordance with section 5134(f ) of title
31, United States Code (as added by section 529(b)(2) of the Treasury,
Postal Service, and General Government Appropriations Act, 1997), to be
used for the purpose of supporting bicentennial programs, educational
outreach activities (including schools and libraries), and other
activities of the Library of Congress.
Approved October 19, 1998.
LEGISLATIVE HISTORY--H.R. 3790:
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CONGRESSIONAL RECORD, Vol. 144 (1998):
Aug. 4, considered and passed House.
Oct. 6, considered and passed Senate.
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