Abraham Lincoln Commemorative Coin Act

(This measure has not been amended since it was introduced. The expanded summary of the Senate reported version is repeated here.)

Abraham Lincoln Commemorative Coin Act - Directs the Secretary of the Treasury to mint and issue $1 silver coins emblematic of the life and legacy of President Abraham Lincoln in commemoration of the bicentennial of his birth.

Permits issuance of such coins only during the one-year period beginning on January 1, 2009.

States that only one facility of the U.S. Mint may be used to strike any particular quality of the coins.

Subjects coin sales to a surcharge of $10 per coin.

Requires all surcharges received from the sale of such coins to be promptly paid by the Secretary to the Abraham Lincoln Bicentennial Commission.

[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[S. 811 Introduced in Senate (IS)]







109th CONGRESS
  1st Session
                                 S. 811

To require the Secretary of the Treasury to mint coins in commemoration 
          of the bicentennial of the birth of Abraham Lincoln.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 15, 2005

  Mr. Durbin introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To require the Secretary of the Treasury to mint coins in commemoration 
          of the bicentennial of the birth of Abraham Lincoln.

    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 ``Abraham Lincoln Commemorative Coin 
Act''.

SEC. 2. FINDINGS.

    The Congress finds as follows:
            (1) Abraham Lincoln, the 16th President, was one of the 
        Nation's greatest leaders, demonstrating true courage during 
        the Civil War, one of the greatest crises in the Nation's 
        history.
            (2) Born of humble roots in present-day LaRue County, 
        Kentucky, on February 12, 1809, Abraham Lincoln rose to the 
        Presidency through a combination of honesty, integrity, 
        intelligence, and commitment to the United States.
            (3) With the belief that all men were created equal, 
        Abraham Lincoln led the effort to free all slaves in the United 
        States.
            (4) Abraham Lincoln had a generous heart, with malice 
        toward none and with charity for all.
            (5) Abraham Lincoln gave the ultimate sacrifice for his 
        country, dying from an assassin's bullet on April 15, 1865.
            (6) The year 2009 will be the bicentennial anniversary of 
        the birth of Abraham Lincoln.
            (7) The Abraham Lincoln Bicentennial Commission has been 
        charged by Congress with planning the celebration of President 
        Lincoln's bicentennial.
            (8) The proceeds from a commemorative coin will help fund 
        the celebration and the continued study of the life of 
        President Lincoln.

SEC. 3. COIN SPECIFICATIONS.

    (a) $1 Silver Coins.--The Secretary of the Treasury (in this Act 
referred to as the ``Secretary'') shall mint and issue not more than 
500,000 $1 coins, which shall--
            (1) weigh 26.73 grams;
            (2) have a diameter of 1.500 inches; and
            (3) contain 90 percent silver and 10 percent copper.
    (b) Legal Tender.--The coins minted under this Act shall be legal 
tender, as provided in section 5103 of title 31, United States Code.
    (c) Numismatic Items.--For purposes of sections 5134 and 5136 of 
title 31, United States Code, all coins minted under this Act shall be 
considered to be numismatic items.

SEC. 4. DESIGN OF COINS.

    (a) Design Requirements.--
            (1) In general.--The design of the coins minted under this 
        Act shall be emblematic of the life and legacy of President 
        Abraham Lincoln.
            (2) Designation and inscriptions.--On each coin minted 
        under this Act, there shall be--
                    (A) a designation of the value of the coin;
                    (B) an inscription of the year ``2009''; and
                    (C) inscriptions of the words ``Liberty'', ``In God 
                We Trust'', ``United States of America'', and ``E 
                Pluribus Unum''.
    (b) Selection.--The design for the coins minted under this Act 
shall be--
            (1) selected by the Secretary, after consultation with the 
        Commission of Fine Arts and the Abraham Lincoln Bicentennial 
        Commission; and
            (2) reviewed by the Citizens Coinage Advisory Committee 
        established under section 5135 of title 31, United States Code.

SEC. 5. ISSUANCE OF COINS.

    (a) Quality of Coins.--Coins minted under this Act shall be issued 
in uncirculated and proof qualities.
    (b) Mint Facility.--Only 1 facility of the United States Mint may 
be used to strike any particular quality of the coins minted under this 
Act.
    (c) Period for Issuance.--The Secretary may issue coins minted 
under this Act only during the 1-year period beginning on January 1, 
2009.

SEC. 6. SALE OF COINS.

    (a) Sale Price.--The coins minted under this Act shall be sold by 
the Secretary at a price equal to the sum of--
            (1) the face value of the coins;
            (2) the surcharge provided in section 7(a) with respect to 
        such coins; and
            (3) the cost of designing and issuing the coins (including 
        labor, materials, dies, use of machinery, overhead expenses, 
        marketing, and shipping).
    (b) Bulk Sales.--The Secretary shall make bulk sales of the coins 
minted under this Act at a reasonable discount.
    (c) Prepaid Orders.--
            (1) In general.--The Secretary shall accept prepaid orders 
        for the coins minted under this Act before the issuance of such 
        coins.
            (2) Discount.--Sale prices with respect to prepaid orders 
        under paragraph (1) shall be at a reasonable discount.

SEC. 7. SURCHARGES.

    (a) In General.--All sales of coins minted under this Act shall 
include a surcharge of $10 per coin.
    (b) Distribution.--Subject to section 5134(f) of title 31, United 
States Code, all surcharges received by the Secretary from the sale of 
coins minted under this Act shall be promptly paid by the Secretary to 
the Abraham Lincoln Bicentennial Commission to further the work of the 
Commission.
    (c) Audits.--The Abraham Lincoln Bicentennial Commission shall be 
subject to the audit requirements of section 5134(f)(2) of title 31, 
United States Code.
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