text: SECTION 1. SHORT TITLE.
  
      This Act may be cited as the ``United States Mint Bicentennial Coin 
  Act''.
  
  SEC. 2. COIN SPECIFICATIONS.
  
      (a) Five Dollar Gold Coins.--The Secretary of the Treasury 
  (hereafter in this Act referred to as the ``Secretary'') shall mint and 
  issue not more than 350,000 five dollar coins each of which shall weigh 
  8.359 grams, have a diameter of .0850 inches, and shall contain 90 
  percent gold and 10 percent alloy.
      (b) One Dollar Silver Coins.--The Secretary shall issue not more 
  than 1,000,000 one dollar coins each of which shall weigh 26.73 grams, 
  have a diameter of 1.5 inches, and be composed of 90 percent silver and 
  10 percent copper.
      (c) Half Dollar Silver Coins.--The Secretary shall issue not more 
  than 1,750,000 half dollar coins each of which shall weigh 12.50 grams, 
  have a diameter of 1.205 inches, and be composed of 90 percent silver 
  and 10 percent copper.
  
  SEC. 3. SOURCES OF BULLION.
  
      (a) Gold.--The Secretary shall obtain gold for the coins minted 
  under this Act pursuant to the authority of the Secretary under 
  existing law.
      (b) Silver.--The Secretary shall obtain silver for the coins minted 
  under this Act from stockpiles established under the Strategic and 
  Critical Materials Stock Piling Act (50 U.S.C. 98 et seq.).
  
  SEC. 4. DESIGN.
  
      (a) Design of Five Dollar Gold Coins.--The design of the five 
  dollar coins shall portray Alexander Hamilton on the obverse. The 
  reverse shall display the scene of the inspection of the first United 
  States coins. On each coin authorized hereunder there shall be a 
  designation of the value of the coin, and inscriptions of the words 
  ``United States of America'', ``E Pluribus Unum'', ``In God We Trust'' 
  and ``Liberty''.
      (b) Design of One Dollar Silver Coins.--The obverse of the one 
  dollar coins shall portray Thomas Jefferson, the first Secretary of 
  State, and shall honor his 250th birthday. The reverse shall display 
  the first coining press--United States Mint. On each coin authorized 
  hereunder there shall be a designation of the value of the coin and 
  inscriptions of the words ``United States of America'', ``E Pluribus 
  Unum'', ``In God We Trust'' and ``Liberty''.
      (c) Design of the Half Dollar Silver Coins.--The design of the half 
  dollar silver coins shall depict on the obverse David Rittenhouse, the 
  first Director of the United States Mint. The reverse shall show the 
  first mint building. On each coin authorized hereunder there shall be a 
  designation of the value of the coin and inscriptions of the words 
  ``United States of America'', ``E Pluribus Unum'', ``In God We Trust'' 
  and ``Liberty''.
  
  SEC. 5. SALE OF COINS.
  
      (a) Sale Price.--Notwithstanding any other provision of law, the 
  coins issued under this Act shall be sold by the Secretary at a price 
  equal to the face value, plus the cost of designing and issuing such 
  coins (including labor, materials, dies, use of machinery, overhead 
  expenses, marketing and shipping).
      (b) Bulk Sales.--The Secretary shall make bulk sales at a 
  reasonable discount.
      (c) Surcharge Required.--All sales shall include a surcharge of $30 
  per coin for the five dollar coins, $7 per coin for the one dollar 
  coins and $2 per coin for the half dollar coins.
      (d) Reports to Congress.--
              (1) Not later than 15 days after the last day of each 
          month, the Secretary shall transmit to the Committee on 
          Banking, Finance and Urban Affairs of the House of 
          Representatives and the Committee on Banking, Housing, and 
          Urban Affairs of the Senate.
              (2) Each report submitted pursuant to paragraph (1) shall 
          include a review of all marketing activities under this section 
          and a financial statement which details sources of funds, 
          surcharges generated, and expenses incurred for manufacturing, 
          materials, overhead, packaging, marketing and shipping.
  
  SEC. 6. ISSUANCE OF THE COINS.
  
      (a) Period of Issuance.--The coins authorized under this Act shall 
  be minted and available for issue no later than July 15, 1993, but 
  shall be issued only during 1993.
      (b) Proof of Uncirculated Coins.--The coins authorized under this 
  Act shall be issued in uncirculated and proof qualities.
      (c) Bureau of the Mint.--Not more than one facility of the Bureau 
  of the Mint may be used to strike any particular combination of 
  denomination and quality.
  
  SEC. 7. GENERAL WAIVER OF PROCUREMENT REGULATIONS.
  
      (a) In General.--Except as provided in subsection (b), no provision 
  of law governing procurement or public contracts shall be applicable to 
  the procurement of goods or services necessary for carrying out the 
  provisions of this Act.
      (b) Equal Employment Opportunity.--Subsection (a) shall not relieve 
  any person entering into a contract under the authority of this Act 
  from complying with any law relating to equal employment opportunity.
  
  SEC. 8. DISTRIBUTION OF SURCHARGES.
  
      (a) In General.--All surcharges which are received by the Secretary 
  from the sale of coins issued under this Act shall be promptly paid by 
  the Secretary to the Smithsonian Institution for the National 
  Numismatic Collection.
      (b) Use of Proceeds.--Amounts received under subsection (a) shall 
  be used by the Executive Director of the National Numismatic Collection 
  to establish--
              (1) an endowment fund for the purpose of purchasing needed 
          reference materials and numismatic items for the National 
          Numismatic Collection; and
              (2) an endowment fund to promote numismatic study, finance 
          symposia and travel and publicize the results of any 
          advancements; and
              (3) establish a fund to renovate the permanent and 
          temporary exhibit facilities of the National Numismatic 
          Collection.
  
  SEC. 9. AUDITS.
  
      The Comptroller General of the United States shall have the right 
  to examine such books, records, documents and other data of the 
  organizing committee as may be related to the expenditure of amounts 
  paid under section 208.
  
  SEC. 10. FINANCIAL ASSURANCES.
  
      (a) No Net Cost.--The Secretary shall take such actions as may be 
  necessary to ensure that the minting and issuance of the coins referred 
  to in section 202 shall not result in any net cost to the Federal 
  Government.
      (b) Payment Assurances.--No coin shall be issued under this Act 
  unless the Secretary has received--
              (1) full payment for such coin;
              (2) security satisfactory to the Secretary to indemnify the 
          United States for full payment; or
              (3) a guarantee of full payment satisfactory to the 
          Secretary from a depository institution, the deposits are 
          insured by the 20 Federal Deposit Insurance Corporations or the 
          National Credit Union Administration.
target: United States Mint Bicentennial Coin Act - Directs the Secretary of the Treasury to mint coins in commemoration  of the 200th anniversary of the establishment of the United States Mint.  Prescribes the designs for the ensuing five-dollar gold coins, one-dollar silver coins, and half-dollar silver coins. 
  Restricts issuance of such coins to 1993. 
  Mandates that all surcharges received from the sale of such coins be paid to the Smithsonian Institution for the National Numismatic Collection.  Requires the Executive Director of the National Numismatic Collection to establish specified funds with the surcharge proceeds.  Prescribes financial assurances.
feat_title: United States Mint Bicentennial Coin Act