Page:United States Statutes at Large Volume 99 Part 2.djvu/68

 99 STAT. 1178

Regulations.

Ante, p. 116.

31 USC 5112 note.

Marketing. National debt.

31 USC 5112 note.

PUBLIC LAW 99-185—DEC. 17, 1985

"(B) The Secretary shall make bulk sales of the coins minted under this subsection at a reeisonable discount. "(3) For purposes of section 5132(a)(1) of this title, all coins minted under this subsection shall be considered to be numismatic items.". (c) Section 5116(a) of title 31, United States Code, is amended by adding at the end thereof the following: "(3) The Secretary shall acquire gold for the coins issued under section 5112(i) of this title by purchase of gold mined from natural deposits in the United States, or in a territory or possession of the United States, within one year after the month in which the ore from which it is derived was mined. The Secretary shall pay not more than the average world price for the gold. In the absence of available supplies of such gold at the average world price, the Secretary may use gold from reserves held by the United States to mint the coins issued under section 5112(i) of this title. The Secretary shall issue such regulations as may be necessary to carry out this paragraph.". (d) Section 5118(b) of title 31, United States Code, is amended— (1) in the first sentence, by striking out "or deliver"; and (2) in the second sentence, by inserting "(other than gold and silver coins)" before "that may be lawfully held". (e) The third sentence of section 5132(a)(1) of title 31, United States Code, is amended by striking out "minted under section 5112(a) of this title" and inserting in lieu thereof "minted under paragraphs (1) through (6) of section 5112(a) of this title". if) Notwithstanding any other provision of law, an amount equal to the amount by which the proceeds from the sale of the coins issued under section 5112(i) of title 31, United States Code, exceed the sum of^ (1) the cost of minting, marketing, and distributing such coins, and (2) the value of gold certificates (not exceeding forty-two and two-ninths dollars a fine troy ounce) retired from the use of gold contained in such coins, shall be deposited in the general fund of the Treasury and shall be used for the sole purpose of reducing the national debt. (g) The Secretary shall take all actions necessary to ensure that the issuance of the coins minted under section 5112(i) of title 31, United States Code, shall result in no net cost to the United States Government.

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