What This Bill Does
This bill requires the Secretary of the Treasury to create special commemorative coins honoring the Sultana steamboat explosion of 1865. The explosion killed nearly 1,200 people and is recorded as the worst maritime disaster in U.S. history. Money from selling these coins will go to the Sultana Historical Preservation Society to build and maintain a museum about the disaster.
Who It Affects
The Secretary of the Treasury will design and mint the coins. The Sultana Historical Preservation Society will receive funds from coin sales. Americans interested in collecting these special coins can purchase them.
Key Provisions
- The Treasury must mint three types of coins: up to 100,000 gold coins worth $5 each, up to 500,000 silver coins worth $1 each, and up to 750,000 half-dollar clad coins (coins made of layered metal). (Sec. 3(a))
- Each coin must have specific designs that honor the Sultana disaster and the people who died and survived on April 27, 1865. (Sec. 4(a))
- The coins can only be sold during a 1-year period beginning January 1, 2023. (Sec. 5(b))
- Extra money from coin sales (called surcharges) goes to the Sultana Historical Preservation Society: $35 per $5 gold coin, $10 per $1 silver coin, and $5 per half-dollar coin. (Sec. 7(a))
- The Treasury must ensure that minting these coins costs the U.S. Government nothing. (Sec. 8(1))
What Changes
If this becomes law, the Treasury will create and sell these three types of special commemorative coins for one year starting January 1, 2023. Money collected from the surcharges will fund a museum dedicated to preserving the history of the Sultana disaster.
Important Definitions
- Commemorative coins: special coins created to honor a historical event or person, rather than for everyday money use
- Numismatic items: coins valued by collectors for their rarity, age or special design rather than their face value
- Surcharge: an extra fee added to the coin's price, separate from the coin's actual value
- Clad coins: coins made of two or more layers of different metals bonded together
Effective Date
The coins may be issued beginning January 1, 2023, through December 31, 2023.
II
118TH CONGRESS
1ST SESSION
S. 668
To require the Secretary of the Treasury to mint coins to honor and
memorialize the tragedy of the Sultana steamboat explosion of 1865.
IN THE SENATE OF THE UNITED STATES
MARCH 7, 2023
Mr. BOOZMAN (for himself and Mr. COTTON) introduced the following bill;
which was read twice and referred to the Committee on Banking, Hous-
ing, and Urban Affairs
A BILL
To require the Secretary of the Treasury to mint coins
to honor and memorialize the tragedy of the Sultana
steamboat explosion of 1865.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Sultana Steamboat
4
Disaster Commemorative Coin Act of 2023’’.
5
SEC. 2. FINDINGS.
6
Congress finds the following:
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(1) On April 27, 1865, the Sultana, a Mis-
8
sissippi River paddlewheel steamboat, exploded kill-
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•S 668 IS
ing nearly 1,200 of the 2,137 passengers and crew
1
on board. Based on the number of recorded casual-
2
ties, this event is the worst maritime disaster in
3
United States history.
4
(2) Those aboard the boat were mostly paroled
5
Union soldiers recently released from the Confed-
6
erate prisoner-of-war camps in Cahaba, Alabama,
7
and Andersonville, Georgia. These men largely
8
hailed from Ohio, Tennessee, Indiana, Michigan,
9
Kentucky, and West Virginia.
10
(3) The Sultana disaster was overshadowed by
11
other major events surrounding the end of the
12
American Civil War, including the assassination of
13
President Abraham Lincoln on April 15, 1865, and
14
subsequently, the killing of President Lincoln’s as-
15
sassin, John Wilkes Booth, on April 26, 1865, just
16
1 day before the Sultana disaster.
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(4) The Sultana Historical Preservation Society
18
now operates the Sultana Disaster Museum in Mar-
19
ion, Arkansas, with artifacts, stories, and exhibits
20
that tell this story. Plans and fundraising are pro-
21
gressing for a much larger facility that can better
22
acquire and preserve the Sultana history.
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•S 668 IS
SEC. 3. COIN SPECIFICATIONS.
1
(a) DENOMINATIONS.—In recognition and remem-
2
brance of the tragedy of the Sultana steamboat explosion
3
of 1865, which is the greatest maritime disaster in United
4
States history, the Secretary of the Treasury (hereinafter
5
in this Act referred to as the ‘‘Secretary’’) shall mint and
6
issue the following coins:
7
(1) $5 GOLD COINS.—Not more than 100,000
8
$5 coins, which shall—
9
(A) weigh 8.359 grams;
10
(B) have a diameter of 0.850 inches; and
11
(C) contain not less than 90 percent gold.
12
(2) $1 SILVER COINS.—Not more than 500,000
13
$1 coins, which shall—
14
(A) weigh 26.73 grams;
15
(B) have a diameter of 1.500 inches; and
16
(C) contain not less than 90 percent silver.
17
(3) HALF-DOLLAR
CLAD
COINS.—Not more
18
than 750,000 half-dollar coins which shall—
19
(A) weigh 11.34 grams;
20
(B) have a diameter of 1.205 inches; and
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(C) be minted to the specifications for half-
22
dollar coins contained in section 5112(b) of title
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31, United States Code.
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•S 668 IS
(b) LEGAL TENDER.—The coins minted under this
1
Act shall be legal tender, as provided in section 5103 of
2
title 31, United States Code.
3
(c) NUMISMATIC ITEMS.—For purposes of sections
4
5134 and 5136 of title 31, United States Code, all coins
5
minted under this Act shall be considered to be numis-
6
matic items.
7
SEC. 4. DESIGNS OF COIN.
8
(a) DESIGN REQUIREMENTS.—The designs of the
9
coins minted under this Act shall be emblematic of the
10
historical significance of the Sultana disaster and the sac-
11
rifice of the many people of the United States who died
12
and survived on April 27, 1865.
13
(b) DESIGNATION AND INSCRIPTIONS.—On each coin
14
minted under this Act, there shall be—
15
(1) a designation of the value of the coin;
16
(2) an inscription of the year ‘‘2023’’; and
17
(3) inscriptions of the words ‘‘Liberty’’, ‘‘In
18
God We Trust’’, ‘‘United States of America’’, and
19
‘‘E Pluribus Unum’’.
20
(c) SELECTION.—The designs for the coins minted
21
under this Act shall be—
22
(1) selected by the Secretary after consultation
23
with the Commission of Fine Arts; and
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•S 668 IS
(2) reviewed by the Citizens Coinage Advisory
1
Committee.
2
SEC. 5. ISSUANCE OF COINS.
3
(a) QUALITY OF COINS.—Coins minted under this
4
Act shall be issued in uncirculated and proof qualities.
5
(b) PERIOD OF ISSUANCE.—The Secretary may issue
6
coins minted under this Act only during the 1-year period
7
beginning on January 1, 2023.
8
SEC. 6. SALE OF COINS.
9
(a) SALE PRICE.—The coins issued under this Act
10
shall be sold by the Secretary at a price equal to the sum
11
of—
12
(1) the face value of the coins;
13
(2) the surcharge provided in section 7(a) with
14
respect to such coins; and
15
(3) the cost of designing and issuing the coins
16
(including labor, materials, dies, use of machinery,
17
overhead expenses, marketing, and shipping).
18
(b) PREPAID ORDERS.—
19
(1) IN GENERAL.—The Secretary shall accept
20
prepaid orders for the coins minted under this Act
21
before the issuance of such coins.
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(2) DISCOUNT.—Sale prices with respect to pre-
23
paid orders under paragraph (1) shall be at a rea-
24
sonable discount.
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•S 668 IS
(c) MARKETING
AND EDUCATIONAL CAMPAIGN.—
1
The Secretary shall develop and execute a marketing, pro-
2
motion, and educational program to promote the collecting
3
of the coins authorized under this Act.
4
SEC. 7. SURCHARGES.
5
(a) IN GENERAL.—All sales of coins issued under this
6
Act shall include a surcharge of—
7
(1) $35 per coin for the $5 coin;
8
(2) $10 per coin for the $1 coin; and
9
(3) $5 per coin for the half-dollar coin.
10
(b) DISTRIBUTION.—Subject to section 5134(f) of
11
title 31, United States Code, all surcharges received by
12
the Secretary from the sale of coins issued under this Act
13
shall be promptly paid by the Secretary to the Sultana
14
Historical Preservation Society for the purpose of estab-
15
lishing, operating, and maintaining a museum to tell the
16
story of the Sultana, including—
17
(1) constructing the museum facility;
18
(2) creating, maintaining, and updating as nec-
19
essary museum exhibits;
20
(3) acquiring and preserving artifacts, memora-
21
bilia, and historic sites related to the Sultana dis-
22
aster; and
23
(4) maintaining an operational reserve fund for
24
the purposes described in this subsection.
25
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•S 668 IS
(c) AUDITS.—The Sultana Historical Preservation
1
Society shall be subject to the audit requirements of sec-
2
tion 5134(f) of title 31, United States Code, with regard
3
to the amounts received under subsection (b).
4
(d) LIMITATION.—Notwithstanding subsection (a),
5
no surcharge may be included with respect to the issuance
6
under this Act of any coin during a calendar year if, as
7
of the time of such issuance, the issuance of such coin
8
would result in the number of commemorative coin pro-
9
grams issued during such year to exceed the annual 2
10
commemorative coin program issuance limitation under
11
section 5112(m)(1) of title 31, United States Code (as in
12
effect on the date of enactment of this Act). The Secretary
13
may issue guidance to carry out this subsection.
14
SEC. 8. FINANCIAL ASSURANCES.
15
The Secretary shall take such actions as may be nec-
16
essary to ensure that—
17
(1) minting and issuing coins under this Act
18
will not result in any net cost to the United States
19
Government; and
20
(2) no funds, including applicable surcharges,
21
are disbursed to the recipient designated in section
22
7 until the total cost of designing and issuing all of
23
the coins authorized by this Act (including labor,
24
materials, dies, use of machinery, overhead expenses,
25
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•S 668 IS
marketing, and shipping) is recovered by the United
1
States Treasury, consistent with sections 5112(m)
2
and 5134(f) of title 31, United States Code.
3
Æ
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