1921 Silver Dollar Coin Anniversary Act

II 116TH CONGRESS 2D SESSION S. 4326 To require the Secretary of the Treasury to honor the 100th anniversary of completion of coinage of the ‘‘Morgan Dollar’’ and the 100th anniver- sary of commencement of coinage of the ‘‘Peace Dollar’’, and for other purposes. IN THE SENATE OF THE UNITED STATES JULY 27, 2020 Mr. ENZI (for himself and Ms. CORTEZ MASTO) 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 honor the 100th anniversary of completion of coinage of the ‘‘Morgan Dollar’’ and the 100th anniversary of commencement of coinage of the ‘‘Peace Dollar’’, and for other purposes. 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 ‘‘1921 Silver Dollar 4 Coin Anniversary Act’’. 5 SEC. 2. FINDINGS. 6 The Congress finds the following: 7 VerDate Sep 11 2014 02:27 Aug 10, 2020 Jkt 099200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S4326.IS S4326 kjohnson on DSK79L0C42PROD with BILLS 2 •S 4326 IS (1) In December 1921, the Peace silver dollar 1 was approved by Treasury Secretary Andrew Mellon, 2 replacing the Morgan silver dollar and commemo- 3 rating the declaration of peace between the United 4 States and the Imperial German government. 5 (2) The Peace silver dollar was minted in Phila- 6 delphia, Denver and San Francisco. The Morgan sil- 7 ver dollar was minted at Philadelphia, Denver, San 8 Francisco, Carson City, and New Orleans. 9 (3) The Peace silver dollar was designed by An- 10 thony de Francisci with the Goddess of Liberty on 11 the obverse and a bald eagle clutching the olive 12 branch (a symbol of peace) on the reverse. The 13 Peace silver dollars were minted between 1921 to 14 1935. 15 (4) The Morgan silver dollar was designed by 16 George T. Morgan and was minted from 1878 to 17 1904, and again in 1921. The obverse depicts a pro- 18 file portrait of Lady Liberty and on the reverse, a 19 heraldic eagle. 20 (5) The conversion from the Morgan silver dol- 21 lar to the Peace silver dollar design in 1921 reflected 22 a pivotal moment in American history. The Morgan 23 silver dollar represents the country’s westward ex- 24 pansion and industrial development in the late 19th 25 VerDate Sep 11 2014 02:27 Aug 10, 2020 Jkt 099200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6201 E:\BILLS\S4326.IS S4326 kjohnson on DSK79L0C42PROD with BILLS 3 •S 4326 IS century. The Peace silver dollar symbolizes the coun- 1 try’s coming of age as an international power while 2 recognizing the sacrifices made by her citizens in 3 World War I and celebrating the victory and peace 4 that ensued. 5 (6) These iconic silver dollars with vastly dif- 6 ferent representations of Lady Liberty and the 7 American Eagle, reflect a changing of the guard in 8 1921 in the United States and therefore on the 9 100th anniversary must begin to be minted again to 10 commemorate this significant evolution of American 11 freedom. 12 SEC. 3. COIN SPECIFICATIONS. 13 (a) $1 SILVER COINS.—The Secretary of the Treas- 14 ury (hereafter in this Act referred to as the ‘‘Secretary’’) 15 shall mint and issue $1 coins in recognition of the 100th 16 anniversary of completion of coinage of the Morgan dollar 17 and the 100th anniversary of commencement of coinage 18 of the Peace dollar, each of which shall— 19 (1) weigh 26.73 grams; 20 (2) have a diameter of 1.500 inches; 21 (3) contain not less than 90 percent silver; and 22 (4) have a reeded edge. 23 VerDate Sep 11 2014 02:27 Aug 10, 2020 Jkt 099200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S4326.IS S4326 kjohnson on DSK79L0C42PROD with BILLS 4 •S 4326 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. DESIGN OF COINS. 8 (a) DESIGN REQUIREMENTS.— 9 (1) IN GENERAL.—The designs of the coins 10 minted under this Act shall honor either the Morgan 11 dollar or the Peace dollar, as follows— 12 (A) MORGAN DOLLAR.—The coins hon- 13 oring the 100th anniversary of completion of 14 coinage of the Morgan dollar shall have an ob- 15 verse design and a reverse design that are ren- 16 ditions of the designs historically used on the 17 obverse and reverse of the Morgan dollar. 18 (B) PEACE DOLLAR.—The coins honoring 19 the 100th anniversary of commencement of 20 coinage of the Peace dollar shall have an ob- 21 verse design and a reverse design that are ren- 22 ditions of the designs historically used on the 23 obverse and reverse of the Peace dollar. 24 VerDate Sep 11 2014 02:27 Aug 10, 2020 Jkt 099200 PO 00000 Frm 00004 Fmt 6652 Sfmt 6201 E:\BILLS\S4326.IS S4326 kjohnson on DSK79L0C42PROD with BILLS 5 •S 4326 IS (2) DESIGNATION AND INSCRIPTIONS.—On 1 each coin minted under this Act, there shall be— 2 (A) a designation of the value of the coin; 3 (B) an inscription of the year of minting 4 or issuance; and 5 (C) inscriptions of the words ‘‘Liberty’’, 6 ‘‘In God We Trust’’, ‘‘United States of Amer- 7 ica’’, and ‘‘E Pluribus Unum’’. 8 (b) SELECTION.—The design for the coins minted 9 under this Act shall be— 10 (1) selected by the Secretary after consultation 11 with the Commission of Fine Arts; and 12 (2) reviewed by the Citizens Coinage Advisory 13 Committee. 14 SEC. 5. ISSUANCE OF COINS. 15 The Secretary may issue coins minted under this Act 16 beginning on January 1, 2021. 17 SEC. 6. SALE OF COINS. 18 (a) SALE PRICE.—The coins issued under this Act 19 shall be sold by the Secretary at a price equal to the sum 20 of— 21 (1) the face value of the coins; and 22 (2) the cost of designing and issuing the coins 23 (including labor, materials, dies, use of machinery, 24 overhead expenses, marketing, and shipping). 25 VerDate Sep 11 2014 02:27 Aug 10, 2020 Jkt 099200 PO 00000 Frm 00005 Fmt 6652 Sfmt 6201 E:\BILLS\S4326.IS S4326 kjohnson on DSK79L0C42PROD with BILLS 6 •S 4326 IS (b) BULK SALES.—The Secretary may make bulk 1 sales of the coins issued under this Act at a reasonable 2 discount. 3 SEC. 7. FINANCIAL ASSURANCES. 4 The Secretary of the Treasury shall take such actions 5 as may be necessary to ensure that the minting and 6 issuing of coins under the Act will not result in any net 7 cost to the United States Government. 8 Æ VerDate Sep 11 2014 02:27 Aug 10, 2020 Jkt 099200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6301 E:\BILLS\S4326.IS S4326 kjohnson on DSK79L0C42PROD with BILLS