Page:United States Statutes at Large Volume 124.djvu/3301

 124 STAT. 3275 PUBLIC LAW 111–303 —DEC. 14, 2010 Public Law 111–303 111th Congress An Act To authorize the production of palladium bullion coins to provide affordable opportu- nities for investments in precious metals, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ‘‘American Eagle Palladium Bul- lion Coin Act of 2010’’. SEC. 2. PALLADIUM COIN. Section 5112 of title 31, United States Code, is amended— (1) in subsection (a), by adding at the end the following new paragraph; ‘‘(12) A $25 coin of an appropriate size and thickness, as determined by the Secretary, that weighs 1 troy ounce and contains .9995 fine palladium.’’; and (2) by adding at the end the following new subsection: ‘‘(v) PALLADIUM BULLION INVESTMENT COINS.— ‘‘(1) IN GENERAL.—Subject to the submission to the Sec- retary and the Congress of a marketing study described in paragraph (8), beginning not more than 1 year after the submis- sion of the study to the Secretary and the Congress, the Sec- retary shall mint and issue the palladium coins described in paragraph (12) of subsection (a) in such quantities as the Sec- retary may determine to be appropriate to meet demand. ‘‘(2) SOURCE OF BULLION.— ‘‘(A) IN GENERAL.—The Secretary shall acquire bullion for the palladium coins issued under this subsection by purchase of palladium 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. If no such palladium is available or if it is not economically feasible to obtain such palladium, the Secretary may obtain palladium for the palladium coins described in paragraph (12) of sub- section (a) from other available sources. ‘‘(B) PRICE OF BULLION.—The Secretary shall pay not more than the average world price for the palladium under subparagraph (A). ‘‘(3) SALE OF COINS.—Each coin issued under this subsection shall be sold for an amount the Secretary determines to be appropriate, but not less than the sum of— ‘‘(A) the market value of the bullion at the time of sale; and Deadline. Deadline. 31 USC 5101 note. American Eagle Palladium Bullion Coin Act of 2010. Dec. 14, 2010 [H.R. 6166]