Page:United States Statutes at Large Volume 56 Part 1.djvu/1093

 56 STAT.] 77TH CONG. , 2D SESS.-CH. 767-DEC. 18, 1942 legends), as the Secretary of the Treasury may by regulation pre- scribe for the particular denomination or series: Provided, That no silver shall be used for the coinage provided for by this section except as specified in subsection (g) hereof. (g) For the coinage of any series, the Secretary of the Treasury is hereby authorized to allocate to the Director of the Mint, at such times and in such amounts as the Secretary of the Treasury deems necessary, any silver bullion in the monetary stocks of the United States not then held for redemption of any outstanding silver cer- tificates. Silver contained in any pieces coined under section 1 of this Act shall be accounted for by entries in the fund established for the purchase of metal for minor coinage: Provided, That the value of any silver bullion accounted for in said fund shall not be considered for the purpose of determining the statutory limit of said fund: Provided further, That the gain from the coinage of silver hereunder shall be accounted for by entries in the minor coinage profit fund. If any series is coined of silver or in part of silver, the pieces of said series shall nevertheless be deemed to be other than silver coins, subsidiary silver coins, silver coinage, or subsidiary silver coin- age within the meaning of the monetary laws of the United States. (h) The coinage provided for by this section shall be minor coin- age, and the provisions of amended section 3528 of the Revised Statutes (U. S . C., title 31, sec. 340) shall apply with respect to any necessary purchases of metal or other material for the coinage pro- vided for by this section: Provided, however, That contracts for said purchases may be entered into in accordance with the provisions of title II of the First War Powers Act, 1941 (55 Stat. 839; U. S . C., Supp. 1, title 50, app., sec. 611). (i) For the purpose of amended section 3529 of the Revised Statutes (U. S . C ., title 31, sec. 341), the coinage provided for in this section shall be in the same category as the minor coins referred to in said section 3529. (j) Except as provided in this Act, the coinage provided for by this section shall be subject in all respects to the monetary laws of the United States, including, but not by way of limitation, the laws pertaining to counterfeiting; to legal tender, and to the distribution, exchange, and redemption of coins and currency. SEC. 2. During the period when the coinage provided for by section 1 of this Act may be coined, the Secretary of the Treasury is hereby authorized in his discretion to cause the coinage of any or all of the other minor coins to be suspended for the whole of said period or for any part or parts thereof. SEC. 3. The Secretary of the Treasury shall cause all worn and uncurrent minor coin of the United States, heretofore or hereafter issued, received in the Treasury, to be melted down, the resulting metal and material to be used for coinage or sold, which sale is hereby authorized. Such coin (including any metal and material derived therefrom), and any loss resulting from the difference between the nominal or face value of such coin and the amount the same will produce in new coin, and any loss resulting from the sale of the metal or other material, shall be accounted for by entries in the fund established for the purchase of metal for minor coinage and said fund shall be reimbursed out of the special fund denominated the minor coinage profit fund: Provided, That the value of any coin (including any metal and material derived therefrom) accounted for as provided herein shall not be considered for the purpose of determining the statutory limit of the fund established for the pur- chase of metal for minor coinage. The proceeds from any sale pur- suant to this section shall be accounted for by entries in the fund established for the purchase of metal for minor coinage. 1065 Allocation of silver bullion. Accounting. Provisos. Purchase of metal. 31 U. S.C., Supp. I, 1 340. Proviso. Contracts. Category of coinage. Application of mon- etary laws. Discretionary sus- pension of other minor coinage. Use of worn and un- current minor coin. Accounting.

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