PUBLIC LAW 109–145—DEC. 22, 2005

PRESIDENTIAL $1 COIN ACT OF 2005

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119 STAT. 2664 PUBLIC LAW 109–145—DEC. 22, 2005

Public Law 109–145

109th Congress

An Act

To require the Secretary of the Treasury to mint coins in commemoration of each

of the Nation’s past Presidents and their spouses, respectively, to improve circulation

of the $1 coin, to create a new bullion coin, and for other purposes.

This Act may be cited as the ‘‘Presidential $1 Coin Act of

2005’’.

Congress finds the following:

(1) There are sectors of the United States economy,

including public transportation, parking meters, vending

machines, and low-dollar value transactions, in which the use

of a $1 coin is both useful and desirable for keeping costs

and prices down.

(2) For a variety of reasons, the new $1 coin introduced

in 2000 has not been widely sought-after by the public, leading

to higher costs for merchants and thus higher prices for consumers.

(3) The success of the 50 States Commemorative Coin

Program (31 U.S.C. 5112(l)) for circulating quarter dollars

shows that a design on a United States circulating coin that

is regularly changed in a manner similar to the systematic

change in designs in such Program radically increases demand

for the coin, rapidly pulling it through the economy.

(4) The 50 States Commemorative Coin Program also has

been an educational tool, teaching both Americans and visitors

something about each State for which a quarter has been

issued.

(5) A national survey and study by the Government

Accountability Office has indicated that many Americans who

do not seek, or who reject, the new $1 coin for use in commerce

would actively seek the coin if an attractive, educational

rotating design were to be struck on the coin.

(6) The President is the leader of our tripartite government

and the President’s spouse has often set the social tone for

the White House while spearheading and highlighting important

issues for the country.

31 USC 5112

note.

31 USC 5101

note.

Presidential $1

Coin Act of 2005.

Dec. 22, 2005

[S. 1047]

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119 STAT. 2665 PUBLIC LAW 109–145—DEC. 22, 2005

(7) Sacagawea, as currently represented on the new $1

coin, is an important symbol of American history.

(8) Many people cannot name all of the Presidents, and

fewer can name the spouses, nor can many people accurately

place each President in the proper time period of American

history.

(9) First Spouses have not generally been recognized on

American coinage.

(10) In order to revitalize the design of United States

coinage and return circulating coinage to its position as not

only a necessary means of exchange in commerce, but also

as an object of aesthetic beauty in its own right, it is appropriate

to move many of the mottos and emblems, the inscription

of the year, and the so-called ‘‘mint marks’’ that currently

appear on the 2 faces of each circulating coin to the edge

of the coin, which would allow larger and more dramatic artwork

on the coins reminiscent of the so-called ‘‘Golden Age

of Coinage’’ in the United States, at the beginning of the Twentieth

Century, initiated by President Theodore Roosevelt, with

the assistance of noted sculptors and medallic artists James

Earle Fraser and Augustus Saint-Gaudens.

(11) Placing inscriptions on the edge of coins, known as

edge-incusing, is a hallmark of modern coinage and is common

in large-volume production of coinage elsewhere in the world,

such as the 2,700,000,000 2-Euro coins in circulation, but it

has not been done on a large scale in United States coinage

in recent years.

(12) Although the Congress has authorized the Secretary

of the Treasury to issue gold coins with a purity of 99.99

percent, the Secretary has not done so.

(13) Bullion coins are a valuable tool for the investor and,

in some cases, an important aspect of coin collecting.

Section 5112 of title 31, United States Code, is amended by

adding at the end the following:

‘‘(n) REDESIGN AND ISSUANCE OF CIRCULATING $1 COINS HONORING

EACH OF THE PRESIDENTS OF THE UNITED STATES.—

‘‘(1) REDESIGN BEGINNING IN 2007.—

‘‘(A) IN GENERAL.—Notwithstanding subsection (d) and

in accordance with the provisions of this subsection, $1

coins issued during the period beginning January 1, 2007,

and ending upon the termination of the program under

paragraph (8), shall—

‘‘(i) have designs on the obverse selected in accordance

with paragraph (2)(B) which are emblematic of

the Presidents of the United States; and

‘‘(ii) have a design on the reverse selected in

accordance with paragraph (2)(A).

‘‘(B) CONTINUITY PROVISIONS.—

‘‘(i) IN GENERAL.—Notwithstanding subparagraph

(A), the Secretary shall continue to mint and issue

$1 coins which bear any design in effect before the

issuance of coins as required under this subsection

(including the so-called ‘Sacagawea-design’ $1 coins).

Theodore

Roosevelt.

Earle Fraser.

Augustus

Saint-Gaudens.

Sacagawea.

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119 STAT. 2666 PUBLIC LAW 109–145—DEC. 22, 2005

‘‘(ii) CIRCULATION QUANTITY.—Beginning January

1, 2007, and ending upon the termination of the program

under paragraph (8), the Secretary annually shall

mint and issue such ‘Sacagawea-design’ $1 coins for

circulation in quantities of no less than 1⁄3 of the total

$1 coins minted and issued under this subsection.’’.

‘‘(2) DESIGN REQUIREMENTS.—The $1 coins issued in accordance

with paragraph (1)(A) shall meet the following design

requirements:

‘‘(A) COIN REVERSE.—The design on the reverse shall

bear—

‘‘(i) a likeness of the Statue of Liberty extending

to the rim of the coin and large enough to provide

a dramatic representation of Liberty while not being

large enough to create the impression of a ‘2-headed’

coin;

‘‘(ii) the inscription ‘$1’; and

‘‘(iii) the inscription ‘United States of America’.

‘‘(B) COIN OBVERSE.—The design on the obverse shall

contain—

‘‘(i) the name and likeness of a President of the

United States; and

‘‘(ii) basic information about the President,

including—

‘‘(I) the dates or years of the term of office

of such President; and

‘‘(II) a number indicating the order of the

period of service in which the President served.

‘‘(C) EDGE-INCUSED INSCRIPTIONS.—

‘‘(i) IN GENERAL.—The inscription of the year of

minting or issuance of the coin and the inscriptions

‘E Pluribus Unum’ and ‘In God We Trust’ shall be

edge-incused into the coin.

‘‘(ii) PRESERVATION OF DISTINCTIVE EDGE.—The

edge-incusing of the inscriptions under clause (i) on

coins issued under this subsection shall be done in

a manner that preserves the distinctive edge of the

coin so that the denomination of the coin is readily

discernible, including by individuals who are blind or

visually impaired.

‘‘(D) INSCRIPTIONS OF ‘LIBERTY’.—Notwithstanding the

second sentence of subsection (d)(1), because the use of

a design bearing the likeness of the Statue of Liberty

on the reverse of the coins issued under this subsection

adequately conveys the concept of Liberty, the inscription

of ‘Liberty’ shall not appear on the coins.

‘‘(E) LIMITATION IN SERIES TO DECEASED PRESIDENTS.—

No coin issued under this subsection may bear the image

of a living former or current President, or of any deceased

former President during the 2-year period following the

date of the death of that President.

‘‘(3) ISSUANCE OF COINS COMMEMORATING PRESIDENTS.—

‘‘(A) ORDER OF ISSUANCE.—The coins issued under this

subsection commemorating Presidents of the United States

shall be issued in the order of the period of service of

each President, beginning with President George Washington.

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119 STAT. 2667 PUBLIC LAW 109–145—DEC. 22, 2005

‘‘(B) TREATMENT OF PERIOD OF SERVICE.—

‘‘(i) IN GENERAL.—Subject to clause (ii), only 1 coin

design shall be issued for a period of service for any

President, no matter how many consecutive terms of

office the President served.

‘‘(ii) NONCONSECUTIVE TERMS.—If a President has

served during 2 or more nonconsecutive periods of

service, a coin shall be issued under this subsection

for each such nonconsecutive period of service.

‘‘(4) ISSUANCE OF COINS COMMEMORATING 4 PRESIDENTS

DURING EACH YEAR OF THE PERIOD.—

‘‘(A) IN GENERAL.—The designs for the $1 coins issued

during each year of the period referred to in paragraph

(1) shall be emblematic of 4 Presidents until each President

has been so honored, subject to paragraph (2)(E).

‘‘(B) NUMBER OF 4 CIRCULATING COIN DESIGNS IN EACH

YEAR.—The Secretary shall prescribe, on the basis of such

factors as the Secretary determines to be appropriate, the

number of $1 coins that shall be issued with each of the

designs selected for each year of the period referred to

in paragraph (1).

‘‘(5) LEGAL TENDER.—The coins minted under this title

shall be legal tender, as provided in section 5103.

‘‘(6) TREATMENT AS NUMISMATIC ITEMS.—For purposes of

section 5134 and 5136, all coins minted under this subsection

shall be considered to be numismatic items.

‘‘(7) ISSUANCE OF NUMISMATIC COINS.—The Secretary may

mint and issue such number of $1 coins of each design selected

under this subsection in uncirculated and proof qualities as

the Secretary determines to be appropriate.

‘‘(8) TERMINATION OF PROGRAM.—The issuance of coins

under this subsection shall terminate when each President

has been so honored, subject to paragraph (2)(E), and may

not be resumed except by an Act of Congress.

‘‘(9) REVERSION TO PRECEDING DESIGN.—Upon the termination

of the issuance of coins under this subsection, the design

of all $1 coins shall revert to the so-called ‘Sacagawea-design’

$1 coins.’’.

Section 5112 of title 31, United States Code, as amended by

section 102, is amended by adding at the end the following:

‘‘(o) FIRST SPOUSE BULLION COIN PROGRAM.—

‘‘(1) IN GENERAL.—During the same period described in

subsection (n), the Secretary shall issue bullion coins under

this subsection that are emblematic of the spouse of each such

President.

‘‘(2) SPECIFICATIONS.—The coins issued under this subsection

shall—

‘‘(A) have the same diameter as the $1 coins described

in subsection (n);

‘‘(B) weigh 0.5 ounce; and

‘‘(C) contain 99.99 percent pure gold.

‘‘(3) DESIGN REQUIREMENTS.—

‘‘(A) COIN OBVERSE.—The design on the obverse of each

coin issued under this subsection shall contain—

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119 STAT. 2668 PUBLIC LAW 109–145—DEC. 22, 2005

‘‘(i) the name and likeness of a person who was

a spouse of a President during the President’s period

of service;

‘‘(ii) an inscription of the years during which such

person was the spouse of a President during the President’s

period of service; and

‘‘(iii) a number indicating the order of the period

of service in which such President served.

‘‘(B) COIN REVERSE.—The design on the reverse of each

coin issued under this subsection shall bear—

‘‘(i) images emblematic of the life and work of

the First Spouse whose image is borne on the obverse;

and

‘‘(ii) the inscription ‘United States of America’.

‘‘(C) DESIGNATED DENOMINATION.—Each coin issued

under this subsection shall bear, on the reverse, an inscription

of the nominal denomination of the coin which shall

be ‘$10’.

‘‘(D) DESIGN IN CASE OF NO FIRST SPOUSE.—In the

case of any President who served without a spouse—

‘‘(i) the image on the obverse of the bullion coin

corresponding to the $1 coin relating to such President

shall be an image emblematic of the concept of

‘Liberty’—

‘‘(I) as represented on a United States coin

issued during the period of service of such President;

or

‘‘(II) as represented, in the case of President

Chester Alan Arthur, by a design incorporating

the name and likeness of Alice Paul, a leading

strategist in the suffrage movement, who was

instrumental in gaining women the right to vote

upon the adoption of the 19th amendment and

thus the ability to participate in the election of

future Presidents, and who was born on January

11, 1885, during the term of President Arthur;

and

‘‘(ii) the reverse of such bullion coin shall be of

a design representative of themes of such President,

except that in the case of the bullion coin referred

to in clause (i)(II) the reverse of such coin shall be

representative of the suffrage movement.

‘‘(E) DESIGN AND COIN FOR EACH SPOUSE.—A separate

coin shall be designed and issued under this section for

each person who was the spouse of a President during

any portion of a term of office of such President.

‘‘(F) INSCRIPTIONS.—Each bullion coin issued under this

subsection shall bear the inscription of the year of minting

or issuance of the coin and such other inscriptions as

the Secretary may determine to be appropriate.

‘‘(4) SALE OF BULLION COINS.—Each bullion coin issued

under this subsection shall be sold by the Secretary at a price

that is equal to or greater than the sum of—

‘‘(A) the face value of the coins; and

‘‘(B) the cost of designing and issuing the coins

(including labor, materials, dies, use of machinery, overhead

expenses, marketing, and shipping).

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119 STAT. 2669 PUBLIC LAW 109–145—DEC. 22, 2005

‘‘(5) ISSUANCE OF COINS COMMEMORATING FIRST SPOUSES.—

‘‘(A) IN GENERAL.—The bullion coins issued under this

subsection with respect to any spouse of a President shall

be issued on the same schedule as the $1 coin issued

under subsection (n) with respect to each such President.

‘‘(B) MAXIMUM NUMBER OF BULLION COINS FOR EACH

DESIGN.—The Secretary shall—

‘‘(i) prescribe, on the basis of such factors as the

Secretary determines to be appropriate, the maximum

number of bullion coins that shall be issued with each

of the designs selected under this subsection; and

‘‘(ii) announce, before the issuance of the bullion

coins of each such design, the maximum number of

bullion coins of that design that will be issued.

‘‘(C) TERMINATION OF PROGRAM.—No bullion coin may

be issued under this subsection after the termination, in

accordance with subsection (n)(8), of the $1 coin program

established under subsection (n).

‘‘(6) QUALITY OF COINS.—The bullion coins minted under

this Act shall be issued in both proof and uncirculated qualities.

‘‘(7) 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.

‘‘(B) PRICE OF GOLD.—The Secretary shall pay not more

than the average world price for the gold mined under

subparagraph (A).

‘‘(8) BRONZE MEDALS.—The Secretary may strike and sell

bronze medals that bear the likeness of the bullion coins authorized

under this subsection, at a price, size, and weight, and

with such inscriptions, as the Secretary determines to be appropriate.

‘‘(9) LEGAL TENDER.—The coins minted under this title

shall be legal tender, as provided in section 5103.

‘‘(10) TREATMENT AS NUMISMATIC ITEMS.—For purposes of

section 5134 and 5136, all coins minted under this subsection

shall be considered to be numismatic items.’’.

Section 5112 of title 31, United States Code, as amended by

sections 102 and 103, by adding at the end the following:

‘‘(p) REMOVAL OF BARRIERS TO CIRCULATION OF $1 COIN.—

‘‘(1) ACCEPTANCE BY AGENCIES AND INSTRUMENTALITIES.—

Beginning January 1, 2006, all agencies and instrumentalities

of the United States, the United States Postal Service, all

nonappropriated fund instrumentalities established under title

10, United States Code, all transit systems that receive operational

subsidies or any disbursement of funds from the Federal

Government, such as funds from the Federal Highway Trust

Fund, including the Mass Transit Account, and all entities

that operate any business, including vending machines, on any

premises owned by the United States or under the control

of any agency or instrumentality of the United States, including

the legislative and judicial branches of the Federal Government,

Effective date.

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119 STAT. 2670 PUBLIC LAW 109–145—DEC. 22, 2005

shall take such action as may be appropriate to ensure that

by the end of the 2-year period beginning on such date—

‘‘(A) any business operations conducted by any such

agency, instrumentality, system, or entity that involve coins

or currency will be fully capable of accepting and dispensing

$1 coins in connection with such operations; and

‘‘(B) displays signs and notices denoting such capability

on the premises where coins or currency are accepted or

dispensed, including on each vending machine.

‘‘(2) PUBLICITY.—The Director of the United States Mint,

shall work closely with consumer groups, media outlets, and

schools to ensure an adequate amount of news coverage, and

other means of increasing public awareness, of the inauguration

of the Presidential $1 Coin Program established in subsection

(n) to ensure that consumers know of the availability of the

coin.

‘‘(3) COORDINATION.—The Board of Governors of the Federal

Reserve System and the Secretary shall take steps to ensure

that an adequate supply of $1 coins is available for commerce

and collectors at such places and in such quantities as are

appropriate by—

‘‘(A) consulting, to accurately gauge demand for coins

and to anticipate and eliminate obstacles to the easy and

efficient distribution and circulation of $1 coins as well

as all other circulating coins, from time to time but no

less frequently than annually, with a coin users group,

which may include—

‘‘(i) representatives of merchants who would benefit

from the increased usage of $1 coins;

‘‘(ii) vending machine and other coin acceptor

manufacturers;

‘‘(iii) vending machine owners and operators;

‘‘(iv) transit officials;

‘‘(v) municipal parking officials;

‘‘(vi) depository institutions;

‘‘(vii) coin and currency handlers;

‘‘(viii) armored-car operators;

‘‘(ix) car wash operators; and

‘‘(x) coin collectors and dealers;

‘‘(B) submitting an annual report to the Congress

containing—

‘‘(i) an assessment of the remaining obstacles to

the efficient and timely circulation of coins, particularly

$1 coins;

‘‘(ii) an assessment of the extent to which the

goals of subparagraph (C) are being met; and

‘‘(iii) such recommendations for legislative action

the Board and the Secretary may determine to be

appropriate;

‘‘(C) consulting with industry representatives to encourage

operators of vending machines and other automated

coin-accepting devices in the United States to accept coins

issued under the Presidential $1 Coin Program established

under subsection (n) and any coins bearing any design

in effect before the issuance of coins required under subsection

(n) (including the so-called ‘Sacagawea-design’ $1

Reports.

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119 STAT. 2671 PUBLIC LAW 109–145—DEC. 22, 2005

coins), and to include notices on the machines and devices

of such acceptability;

‘‘(D) ensuring that—

‘‘(i) during an introductory period, all institutions

that want unmixed supplies of each newly-issued

design of $1 coins minted under subsections (n) and

(o) are able to obtain such unmixed supplies; and

‘‘(ii) circulating coins will be available for ordinary

commerce in packaging of sizes and types appropriate

for and useful to ordinary commerce, including rolled

coins;

‘‘(E) working closely with any agency, instrumentality,

system, or entity referred to in paragraph (1) to facilitate

compliance with the requirements of such paragraph; and

‘‘(F) identifying, analyzing, and overcoming barriers

to the robust circulation of $1 coins minted under subsections

(n) and (o), including the use of demand prediction,

improved methods of distribution and circulation, and

improved public education and awareness campaigns.

‘‘(4) BULLION DEALERS.—The Director of the United States

Mint shall take all steps necessary to ensure that a maximum

number of reputable, reliable, and responsible dealers are qualified

to offer for sale all bullion coins struck and issued by

the United States Mint.

‘‘(5) REVIEW OF CO-CIRCULATION.—At such time as the Secretary

determines to be appropriate, and after consultation

with the Board of Governors of the Federal Reserve System,

the Secretary shall notify the Congress of its assessment of

issues related to the co-circulation of any circulating $1 coin

bearing any design, other than the so-called ‘Sacagawea-design’

$1 coin, in effect before the issuance of coins required under

subsection (n), including the effect of co-circulation on the

acceptance and use of $1 coins, and make recommendations

to the Congress for improving the circulation of $1 coins.’’.

It is the sense of the Congress that—

(1) the enactment of this Act will serve to increase the

use of $1 coins generally, which will increase the circulation

of the so-called ‘‘Sacagawea-design’’ $1 coins that have been

and will continue to be minted and issued;

(2) the continued minting and issuance of the so-called

‘‘Sacagawea-design’’ $1 coins will serve as a lasting tribute

to the role of women and Native Americans in the history

of the United States;

(3) the full circulation potential and cost-savings benefit

projections for the $1 coins are not likely to be achieved unless

the coins are delivered in ways useful to ordinary commerce;

(4) the coins issued in connection with this title should

not be introduced with an overly expensive taxpayer-funded

public relations campaign;

(5) in order for the circulation of $1 coins to achieve maximum

potential—

(A) the coins should be as attractive as possible; and

(B) the Director of the United States Mint should take

all reasonable steps to ensure that all $1 coins minted

Notification.

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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.

On to Part II  -  On to Part III

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The above is one part of the Three part coin legislation passed by Congress.  The main title of the act is  Presidential $1 Coin Act of 2005.  The three parts of this legislation include:

1. Presidential Dollar Coin Series

2. Buffalo Gold Bullion Coins

3. 2009 Lincoln Commemorative Cents

More Information about Presidential Dollar coins:

• Unusual Letters on the Edge - Presidential Dollars

• US mint press release.

• Production Schedule of Dollars to be released

• Legislation Authorizing Presidential Dollars in 2007