HR 4329 IHCommentsClose CommentsPermalink

To require the Secretary of the Treasury to mint coins in commemoration of President James Monroe, and for other purposes.CommentsClose CommentsPermalink

December 16, 2009CommentsClose CommentsPermalink

Mr. WITTMAN introduced the following bill; which was referred to the Committee on Financial ServicesCommentsClose CommentsPermalink

To require the Secretary of the Treasury to mint coins in commemoration of President James Monroe, and for other purposes.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. SHORT TITLE.

This Act may be cited as the ‘James Monroe Commemorative Coin Act’.CommentsClose CommentsPermalink

SEC. 2. FINDINGS.

The Congress hereby finds as follows:CommentsClose CommentsPermalink





(1) James Monroe was the only United States President besides George Washington to have actively served in the regular military during the Revolutionary War.CommentsClose CommentsPermalink





(2) James Monroe--CommentsClose CommentsPermalink





(A) participated in the Battles of Harlem Heights and White Plains;CommentsClose CommentsPermalink





(B) crossed the Delaware River in advance of George Washington;CommentsClose CommentsPermalink





(C) was seriously wounded at the Battle of Trenton and cited for conspicuous gallantry;CommentsClose CommentsPermalink





(D) wintered with the Continental Army at Valley Forge; andCommentsClose CommentsPermalink





(E) subsequently participated in the Battles of Brandywine, Germantown and Monmouth.CommentsClose CommentsPermalink





(3) James Monroe served at the State level in the Virginia House of Delegates and served 4 times as the Governor of Virginia.CommentsClose CommentsPermalink





(4) 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.CommentsClose CommentsPermalink





(5) James Monroe’s 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 ‘Monroe 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.CommentsClose CommentsPermalink





(6) 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’.CommentsClose CommentsPermalink

SEC. 3. COIN SPECIFICATIONS.

(a) Denominations- 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:CommentsClose CommentsPermalink





(1) $50 GOLD COINS- Not more than 20,000 $50 gold coins which shall--CommentsClose CommentsPermalink





(A) weigh 33.931 grams;CommentsClose CommentsPermalink





(B) have a diameter of 32.7 millimeters; andCommentsClose CommentsPermalink





(C) contain 1 troy ounce of fine gold.CommentsClose CommentsPermalink





(2) $1 SILVER COINS- Not more than 275,000 $1 coins which shall--CommentsClose CommentsPermalink





(A) weigh 26.73 grams;CommentsClose CommentsPermalink





(B) have a diameter of 1.500 inches; andCommentsClose CommentsPermalink





(C) contain 90 percent silver and 10 percent copper.CommentsClose CommentsPermalink





(3) HALF DOLLAR CLAD COINS- Not more than 500,000 half dollar coins, which shall--CommentsClose CommentsPermalink





(A) weigh 11.34 grams;CommentsClose CommentsPermalink





(B) have a diameter of 1.205 inches; andCommentsClose CommentsPermalink





(C) be minted to the specifications for half dollar coins, contained in section 5112(b) of title 31, United States Code.CommentsClose CommentsPermalink





(b) Legal Tender- The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code.CommentsClose CommentsPermalink





(c) Numismatic Items- For purposes of section 5134 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.CommentsClose CommentsPermalink

SEC. 4. DESIGN OF COINS.

(a) Design Requirements-CommentsClose CommentsPermalink





(1) IN GENERAL- The design of the coins minted under this Act shall be emblematic of President James Monroe and his immeasurable contributions to the United States.CommentsClose CommentsPermalink





(2) OBVERSE- 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.CommentsClose CommentsPermalink





(3) REVERSE- 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.CommentsClose CommentsPermalink





(4) DESIGNATIONS AND INSCRIPTIONS- On each coin minted under this Act, there shall be--CommentsClose CommentsPermalink





(A) a designation of the value of the coin;CommentsClose CommentsPermalink





(B) an inscription of the year ‘2016’; andCommentsClose CommentsPermalink





(C) inscriptions of the words ‘Liberty’, ‘In God We Trust’, ‘United States of America’, and ‘E Pluribus Unum’.CommentsClose CommentsPermalink





(b) Selection- The design for the coins minted under this Act shall--CommentsClose CommentsPermalink





(1) be selected by the Secretary, after consultation with the James Monroe Memorial Foundation and the Commission of Fine Arts; andCommentsClose CommentsPermalink





(2) be reviewed by the Citizens Coinage Advisory Committee.CommentsClose CommentsPermalink

SEC. 5. ISSUANCE OF COINS.

(a) Quality of Coins- Coins minted under this Act shall be issued in uncirculated and proof qualities.CommentsClose CommentsPermalink





(b) Mint Facilities- 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.CommentsClose CommentsPermalink





(c) Period for Issuance- The Secretary may issue coins minted under this Act only during the 1-year period beginning on January 1, 2016.CommentsClose CommentsPermalink

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--CommentsClose CommentsPermalink





(1) the face value of the coins;CommentsClose CommentsPermalink





(2) the surcharge provided in section 7(a) with respect to such coins; andCommentsClose CommentsPermalink





(3) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).CommentsClose CommentsPermalink





(b) Bulk Sales- The Secretary shall make bulk sales of the coins issued under this Act at a reasonable discount.CommentsClose CommentsPermalink





(c) Prepaid Orders-CommentsClose CommentsPermalink





(1) IN GENERAL- The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins.CommentsClose CommentsPermalink





(2) DISCOUNT- Sale prices with respect to prepaid orders under paragraph (1) shall be at a reasonable discount.CommentsClose CommentsPermalink

SEC. 7. SURCHARGES.

(a) In General- All sales of coins minted under this Act shall include a surcharge as follows:CommentsClose CommentsPermalink





(1) A surcharge of $35 per coin for the $5 coin.CommentsClose CommentsPermalink





(2) A surcharge of $10 per coin for the $1 coin.CommentsClose CommentsPermalink





(3) A surcharge of $5 per coin for the half dollar coin.CommentsClose CommentsPermalink





(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 James Monroe Memorial Foundation for use for the following purposes:CommentsClose CommentsPermalink





(1) 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.CommentsClose CommentsPermalink





(2) Continuing support of that facilities described in paragraph (1), including the acquisition of land originally owned by the Monroe Family.CommentsClose CommentsPermalink





(3) Supporting education programs about President James Monroe, the Monroe Doctrine, including an online library.CommentsClose CommentsPermalink





(4) Collecting and preserving artifacts and historical items related to President Monroe, the Monroe Doctrine, and his era which was known as ‘The Era of Good Feelings’.CommentsClose CommentsPermalink





(c) Audits- 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).CommentsClose CommentsPermalink





(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 (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.CommentsClose CommentsPermalink