Page:United States Statutes at Large Volume 100 Part 4.djvu/580

 100 STAT. 3316

PUBLIC LAW 99-582—OCT. 29, 1986 SOURCES OF BULLION

31 USC 5112 no^-

SEC. 102. (a) The Secretary shall obtain gold for the coins minted under this title pursuant to the authority of the Secretary under existing law. (b) The Secretary shall obtain silver for the coins minted under this title only from stockpiles established under the Strategic and Critical Minerals Stock Piling Act (50 U.S.C. 98 et seq.). DESIGN OF THE COINS

31 USC 5112 note.

SEC. 103. The design for each coin authorized by this title shall be selected by the Secretary after consultation with the Commission and the Commission of Fine Arts. SALE OF THE COINS

31 USC 5112 "ote-

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SEC. 104. (a) Notwithstanding any other provision of law, the coins issued under this title 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, and overhead expenses). (b) The Secretary shall make bulk sales at a reasonable discount to reflect the lower costs of such sales. (c) The Secretary shall accept prepaid orders for the coins prior to the issuance of such coins. Sales under this subsection shall be at a reasonable discount to reflect the benefit of prepayment. (d) All sales shall include a surcharge of $35 per coin for the five dollar coins and $7 per coin for the one dollar coins. ?

31 USC 5112 note.

I S S U A N C E OF COINS

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SEC. 105. (a) The gold coins authorized under this title shall be issued in uncirculated and proof qualities and shall be struck at the United States Bullion Depository at West Point. (b) The silver coins authorized under this title may be issued in uncirculated and proof qualities, except that not more than one facility of the United States Mint may be used to strike each such quality. (c) The Secretary may issue the coins minted under this title beginning January 1, 1987. (d) No coins shall be minted under this title after June 30, 1988. FINANCIAL ASSURANCES

31 USC 5112 note.

SEC. 106. (a) The Secretary shall take all actions necessary to ensure that the issuance of the coins authorized by this title shall result in no net cost to the United States Government, (b) No coin shall be issued under this title unless the Secretary has received— (1) full payment therefor; (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 whose deposits are insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration Board.

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