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H.R.6331 - Panama-Pacific International Exposition and Panama Canal Commemorative Coins Act
To require the Secretary of the Treasury to mint coins in commemoration of the centennial of the Panama-Pacific International Exposition and the Panama Canal.
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SECTION 1. SHORT TITLE.
SEC. 2. FINDINGS.
(2) The Exposition commemorated the completion of the Panama Canal and the 400th anniversary of the discovery of the Pacific Ocean by the Spanish explorer Vasco Nun.AE6ez de Balboa.CommentsClose CommentsPermalink
(5) There were hundreds of buildings on the grounds; most were built to last only the duration of the Exposition. Every State then in the Union was represented with a building. Many nations were represented at the Exposition as well: 22 foreign governments had buildings. The fair occupied 76 city blocks.CommentsClose CommentsPermalink
(7) Congress authorized the United States Mint to issue five different coins dated 1915 in connection with the Panama-Pacific International Exposition. The coins represent a high water mark for American commemorative coins. Produced at the San Francisco Mint, these were the first United States commemorative coins to bear the motto ‘In God We Trust’, and included the silver Panama-Pacific half dollar and four gold coins in denominations of one dollar, 2 1/2 dollars, a 50-dollar round coin, and a unique 50-dollar octagonal coin.CommentsClose CommentsPermalink
(9) The Panama Canal, which cuts across the Isthmus of Panama, was built between 1890 and 1914. It was the world’s greatest engineering feat of its time and required a labor force of almost 40,000.CommentsClose CommentsPermalink
(10) While the initial French efforts to build the canal were disastrous, President Theodore Roosevelt, recognizing the value of a canal, led the United States in buying the equipment and concession of the unsuccessful French effort to build the canal for $40 million, and championed the effort that overcame malaria and immense logistical problems. The Canal opened on August 15, 1914--401 years after Balboa first crossed Panama.CommentsClose CommentsPermalink
(11) Stretching 51 miles, the Panama Canal connected the Atlantic Ocean and the Pacific Ocean, saving sailors a dangerous 8,000-mile journey around Cape Horn and through the Straits of Magellan, and cutting in half the time previously required to sail between the oceans.CommentsClose CommentsPermalink
(13) The proceeds from the surcharge on the sale of such commemorative coins will assist in supporting the educational programs of the San Francisco Museum and Historical Society and the preservation of Theodore Roosevelt’s home in Oyster Bay, New York.CommentsClose CommentsPermalink
SEC. 3. COIN SPECIFICATIONS.
SEC. 4. DESIGN OF COINS.
(1) IN GENERAL- The design of the coins minted under this Act shall be a close likeness of the two gold and one half dollar coins issued by the San Francisco Mint at the opening of the Pan-Pacific Exposition and the medal awarded to every United States citizen who worked for a continuous 2-year period on the construction of the Panama Canal.CommentsClose CommentsPermalink
(A) $5 GOLD COINS- The $5 octagonal gold coins minted under this Act and the $5 round gold coins minted under this Act shall be a close likeness of the octagonal Panama-Pacific Exposition $50 gold coin and the round Panama-Pacific Exposition $50 gold coin, respectively. Such coins--CommentsClose CommentsPermalink
(I) depicting an owl perched on a pine bough complete with four pine cones and multiple sprigs of pine needles surrounded by the same ring of beads depicted on the obverse; andCommentsClose CommentsPermalink
(II) depicting, outside this ring, the inscriptions ‘PANAMA-PACIFIC EXPOSITION’ and ‘SAN FRANCISCO’ in a single line of text circling the entire rim, with the words separated by dots; andCommentsClose CommentsPermalink
(iii) with respect to the octagonal coin, such coin shall also have an obverse and reverse that depicts, in the eight angles of the vertices, eight stylized dolphins that form an outer circle.CommentsClose CommentsPermalink
(III) displaying the legend ‘PRESENTED BY THE PRESIDENT OF THE UNITED STATES’ around the border, except that the Secretary may, after consultation with the Commission of Fine Arts and review by the Citizens Coinage Advisory Committee, choose to omit such legend.CommentsClose CommentsPermalink
(ii) with an obverse depicting Columbia scattering flowers from a cornucopia held by a small child towards a sunset on the Golden Gate (prior to the construction of the now famous bridge), which was designed by the Mint’s then-Chief Engraver, Charles Barber; andCommentsClose CommentsPermalink
(iii) with a reverse depicting an eagle resting on the union shield with an oak branch to its left, for stability and strength, and an olive branch to its right, for peace, credited to Barber’s assistant George T. Morgan, designer of the Morgan dollar.CommentsClose CommentsPermalink
SEC. 5. ISSUANCE OF COINS.
SEC. 6. SALE OF COINS.
SEC. 7. SURCHARGES.
(b) Distribution- Subject to
(1) Three-quarters of the surcharges to the San Francisco Museum and Historical Society for the design and construction of appropriate exhibitions in the San Francisco Museum and Historical Society, including the necessary adaptive reuse of the Old Mint, commemorating the Panama-Pacific International Exposition, as well as the development of appropriate exhibitions at the Palace of Fine Arts on the grounds of the former Panama-Pacific International Exposition.CommentsClose CommentsPermalink
(2) One-fourth of the surcharges to the National Park Foundation to be used for programs, construction, or preservation work at President Theodore Roosevelt’s home in Oyster Bay, New York.CommentsClose CommentsPermalink
(c) Audits- The Comptroller General of the United States shall have the right to examine such books, records, documents, and other data of each of the organizations referred to in subsection (b) as may be related to the expenditures of amounts paid under such subsection.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