Page:United States Statutes at Large Volume 119.djvu/2690

 119 STAT. 2672

PUBLIC LAW 109–145—DEC. 22, 2005 and issued remain tarnish-free for as long as possible without incurring undue expense; and (6) if the Secretary of the Treasury determines to include on any $1 coin minted under section 102 of this Act a mark denoting the United States Mint facility at which the coin was struck, such mark should be edge-incused.

TITLE II—BUFFALO GOLD BULLION COINS SEC. 201. GOLD BULLION COINS.

Section 5112 of title 31, United States Code, is amended— (1) in subsection (a), by adding at the end the following: ‘‘(11) A $50 gold coin that is of an appropriate size and thickness, as determined by the Secretary, weighs 1 ounce, and contains 99.99 percent pure gold.’’; and (2) by adding at the end, the following: ‘‘(q) GOLD BULLION COINS.— ‘‘(1) IN GENERAL.—Not later than 6 months after the date of enactment of the Presidential $1 Coin Act of 2005, the Secretary shall commence striking and issuing for sale such number of $50 gold bullion and proof coins as the Secretary may determine to be appropriate, in such quantities, as the Secretary, in the Secretary’s discretion, may prescribe. ‘‘(2) INITIAL DESIGN.— ‘‘(A) IN GENERAL.—Except as provided under subparagraph (B), the obverse and reverse of the gold bullion coins struck under this subsection during the first year of issuance shall bear the original designs by James Earle Fraser, which appear on the 5-cent coin commonly referred to as the ‘Buffalo nickel’ or the ‘1913 Type 1’. ‘‘(B) VARIATIONS.—The coins referred to in subparagraph (A) shall— ‘‘(i) have inscriptions of the weight of the coin and the nominal denomination of the coin incused in that portion of the design on the reverse of the coin commonly known as the ‘grassy mound’; and ‘‘(ii) bear such other inscriptions as the Secretary determines to be appropriate. ‘‘(3) SUBSEQUENT DESIGNS.—After the 1-year period described to in paragraph (2), the Secretary may— ‘‘(A) after consulting with the Commission of Fine Arts, and subject to the review of the Citizens Coinage Advisory Committee, change the design on the obverse or reverse of gold bullion coins struck under this subsection; and ‘‘(B) change the maximum number of coins issued in any year. ‘‘(4) SOURCE OF GOLD BULLION.— ‘‘(A) IN GENERAL.—The Secretary shall acquire gold for the coins issued under this subsection by purchase of gold mined from natural deposits in the United States, or in a territory or possession of the United States, within 1 year after the month in which the ore from which it is derived was mined.

Deadline.

James Earle Fraser.

VerDate 14-DEC-2004

07:21 Oct 30, 2006

Jkt 039194

PO 00003

Frm 00140

Fmt 6580

Sfmt 6581

E:\PUBLAW\PUBL003.119

APPS06

PsN: PUBL003

�