Full text of Coinage Act of 1965

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254

PUBLIC LAW 89-81-JULY 23, 1965

[79 STAT.

RULES A N D REGULATIONS

^ SEC. 402. The Council is authorized to make such rules and regulations as it may deem necessary or appropriate for carrying out those
provisions of this Act which are administered by it.
DELEGATION OF F U N C T I O N S

SEC. 403. The Council is authorized to delegate to any member or
employee of the Council its administrative functions under section
105 and the detailed administration of the grant program under title
III.
UTILIZATION OF PERSONNEL

SEC. 404. The Council may, with the consent of the head of any other
department or agency of the United States, utilize such officers and
employees of such agency on a reimbursable basis as are necessary to
carry out the provisions of this Act.
Approved July 22, 1965.
Public Law 89-81
July 23, 1965
[S. 2080]

Coinage Act of

1965

AN ACT
To provide for the coinage of the United States.
Be it enacted hy the Senate and House of Representatives of the
United States of America in Congress assembled^ That this Act may be
cited as the "Coinage Act of 1965".
T I T L E I — A U T H O R I Z A T I O N O F A D D I T I O N A L COINAGE

Specifications,

SEC. 101. (a) The Secretary may coin and issue pursuant to this
section half dollars or 50-cent pieces, quarter dollars or 25-cent pieces,
and dimes or 10-cent pieces in such quantities as he may determine
to be necessary to meet the needs of the public. Any coin minted
under authority of this section shall be a clad coin the weight of whose
cladding is not less than 30 per centum of the weight of the entire coin,
and which meets the following additional specifications:
(1) The half dollar shall have—
(A) a diameter of 1.205 inches;
(B) a cladding of an alloy of 800 parts of silver and
200 parts of copper; and
(C) a core of an alloy of silver and copper such that the
whole coin weighs 11.5 grams and contains 4,6 grams of silver
and 6,9 grams of copper.
(2) The quarter dollar shall have—
(A) a diameter of 0.955 inch;
(B) a cladding of an alloy of 75 per centum copper and
25 per centum nickel; and
(C) a core of copper such that the weight of the whole
coin is 5.67 grams.
(3) The dime shall have—
(A) a diameter of 0.705 inch;
(B) a cladding of an alloy of 75 per centum copper and
25 per centum nickel; and
(C) a core of copper such that the weight of the whole
coin is 2.268 grams.
(b) Half dollars, quarter dollars, and dimes may be minted from
900 fine coin silver only until such date as the Secretary of the Treasury
determines that adequate supplies of the coins authorized by this Act

79 STAT. ]

255

PUBLIC LAW 89-81-JULY 23, 1965

are available, and in no event later than five years after the date of
enactment of this Act.
(c) No standard silver dollars may be minted during the five-year
period which begins on the date of enactment of this Act.
SEC. 102. All coins and currencies of the United States (including
Federal Reserve notes and circulating notes of Federal Reserve banks
and national banking associations), regardless of when coined or
issued, shall be legal tender for all debts, public and private, public
charges, taxes, duties, and dues.
SEC. 103. (a) I n order to acquire equipment, manufacturing facilities, patents, patent rights, technical knowledge and assistance, metallic
strip, and other materials necessary to produce rapidly an adequate
supply of the coins authorized by section 101 of this Act, the Secretary
may enter into contracts upon such terms and conditions as he may
deem appropriate and in the public interest.
(b) During such period as he may deem necessarj^, but in no event
later than five years after the date of enactment of this Act, the Secretary may exercise the authority conferred by subsection (a^ of this section without regard to any other provisions of law governing procurement or public contracts.
SEC. 104. The Secretary shall purchase at a price of $1.25 per fine
troy ounce any silver mined after the date of enactment of this Act
from natural deposits in the United States or any place subject to the
jurisdiction thereof and tendered to a United States mint or assay
office within one year after the month in which the ore from which it
is derived was mined.
SEC. 105. (a) Whenever in the judgment of the Secretary such
action is necessary to protect the coinage of the United States, he is
authorized under such rules and regulations as he may prescribe to
prohibit, curtail, or regulate the exportation, melting, or treating
of any coin of the United States.
(b) Whoever knowingly violates any order, rule, regulation, or
license issued pursuant to subsection (a) of this section shall be fined
not more than $10,000, or imprisoned not more than five years, or
both.
SEC. 106. (a) There shall be forfeited to the United States any coins
exported, melted, or treated in violation of any order, rule, regulation,
or license issued under section 105(a), and any metal resulting from
such melting or treating.
(b) The powers of the Secretary and his delegates, and the judicial
and other remedies available to the United States, for the enforcement
of forfeitures of property subject to forfeiture pursuant to subsection
(a) of this section shall be the same as those provided in part I I of
subchapter C of chapter 75 of the Internal Revenue Code of 1954
for the enforcement of forfeitures of property subject to forfeiture
under any provision of such Code.
SEC. 107. The Secretary may issue such rules and regulations as
he may deem necessary to carry out the provisions of this Act.
SEC. 108. For the purposes of this title—
(1) The term "Secretary" means the Secretary of the Treasury.
(2) The term "clad coin" means a coin composed of three layers of
metal, the two outer layers being of identical composition and metallurgically bonded to an inner layer.
(3) The term "cladding" means the outer layers of a clad coin.
(4) The term "core" means the inner layer of a clad coin.
(5) A specification given otherwise than as a limit shall be maintained within such reasonable manufacturing tolerances as the Secretary may specify.
(6) Specifications given for an alloy are by weight.

Silver doUars,
restriction.
Legal tender.

Contract authority.

Silver, purchase.

Exportation,, etc.,
of coins.

Penalty.

Forfeiture of
coins.

68A Stat. 869.
26 u s e 73217329.

Definitions,

256

PUBLIC LAW 89-81-JULY 23, 1965

[79 STAT.

TITLE II—AMENDMENTS TO E X I S T I N G LAW
San Francisco
assay office,
minting of coins.

77 Stat. 129.

Repeal.

Inscriptions on
coins.

Repeal,
78 Stat. 908.

Coinage metal
fund.

SEC. 201. The first sentence of section 3558 of the Revised Statutes
(31 U.S.C. 283) is amended to read: "The business of the United
States assay office in San Francisco shall be in all respects similar to
that of the assay office of New York except that until the Secretary
of the Treasury determines that the mints of the United States are
adequate for the production of ample supplies of coins, its facilities
may be used for the production of coins."
SEC. 202. Section 4 of the Act of August 20, 1063 (Public Law
88-102; 31 U.S.C. 294), is amended by changing "$30,000,000" to
read "$45,000,000".
SEC. 203. (a) Section 3 of the Act of December 18, 1942 (56 Stat.
1065; 31 U.S.C. 317c), is amended by striking "minor" each place it
appears.
(b) Section 9 of the Act of March 14, 1900 (31 Stat. 48; 31 U.S.C.
320), is repealed.
SEC. 204. (a) Section 3517 of the Revised Statutes (31 U.S.C. 324)
is amended to read:
"SEC. 3517. Upon one side of all coins of the United States there
shall be an impression emblematic of liberty, with an inscription of
the word 'Libertv', and upon the reverse side shall be the figure or
representation of an eagle, with the inscriptions 'United States of
America' and ' E Pluribus Unum' and a designation of the value of
the coin; but on the dime, 5-, and 1-cent piece, the figure of the eagle
shall be omitted. The motto 'In God we trust' shall be inscribed on
all coins. Any coins minted after the enactment of the Coinage Act
of 1965 from 900 fine coin silver shall be inscribed with the year 1964.
All other coins shall be inscribed with the year of the coinage or
issuance unless the Secretary of the Treasury, in order to prevent or
alleviate a shortage of coins of any denomination, directs that coins
of that denomination continue to be inscribed with the last preceding year inscribed on coins of that denomination, except that coins
produced under authority of sections 101(a)(1), 101(a)(2), and
101(a) (3) of the Coinage Act of 1965 shall not be dated earlier than
1965. No mint mark may be inscribed on any coins during the five-year
period beginning on the date of enactment of the Coinage Act of 1965,
except that coins struck at the Denver mint as authorized by law
prior to such date may continue to be inscribed with that mint mark."
(b) The Act of September 3, 1964 (Public Law 88-580; 31 U.S.C.
324 note), is repealed.
SEC. 205. The first sentence of section 3526 of the Revised Statutes
(31 U.S.C. 335) is amended to read: "In order to procure bullion for
coinage or to carry out the purposes of section 104 of the Coinage Act
of 1965, the Secretary of the Treasury may purchase silver bullion
with the bullion fund."
SEC. 206. (a) Section 3528 of the Revised Statutes (31 U.S.C. 340)
is amended to read:
"SEC. 3528. The Secretary of the Treasury may use the coinage
metal fund for the purchase of metal for coinage. The gain arising
from the coinage of metals purchased out of such fund into coin of a
nominal value exceeding the cost of such metals shall be credited to the
coinage profit fund. The coinage profit fund shall be charged with
the wastage incurred in such coinage, with the cost lof distributing such
coins, and with such sums as shall from time to time be transferred
therefrom to the general fund of the Treasury."
(b) The effect of the amendment made by subsection (a) of this
section shall be to redesignate the minor coinage metal fund established
under section 3528 of the Revised Statutes as the coinage metal fund,
and not to authorize the creation of a new fund.

79 STAT. ]

PUBLIC LAW 89-81-JULY 23, 1965

257

SEC. 207. T h e second sentence of section 3542 of the Eevised Stat- ^J^^*^^^ ^"°^utes (31 U.S.C. 355) is amended by changing ", in the case of the ^"''^*
superintendent of melting and refining department, one-thousandth of
the whole amount of gold, and one and one-half thousandths of the
whole amount of silver delivered to him since the last annual settlement, and in the case of the superintendent of coining department, onethousandth of the whole amount of silver, and one-half thousandth
of the whole amount of gold that has been delivered to him by the
superintendent" to read "such limitations as the Secretary shall
SEC. 208. Section 3550 of the Eevised Statutes (31 U.S.C. 366) is ^^P'^^repealed.
SEC. 209. The second sentence of section 2 of the Act of June 4, Silver excess.
1963 (Public Law 88-36; 31 U.S.C. 405a-l), is amended to read: "The ^^ ^'^'- s^Secretary of the Treasury is authorized to use for coinage, or to sell
on such terms and conditions as he may deem appropriate, at a price
not less than the monetary value of $1.292929292 per fine troy ounce,
any silver of the United States in excess of that required to be held as
reserves against outstanding silver certificates."
SEC. 210. The last sentence of section 43(b) (1) of the Act of May
K«P««I12,1933 (Public Law 10,73d Congress; 31 U.S.C. 462), is repealed.
^^ ^'^'' ^^^^
SEC. 211. (a) Section 485 of title 18 of the United States Code is ^2 stat. 708.
amended to read:
"§485. Coins or bars
"Whoever falsely makes, forges, or counterfeits any coin or bar in
resemblance or similitude of any coin of a denomination higher than 5
cents or any gold or silver bar coined or stamped at any mint or assay
office of the United States, or in resemblance or similitude of any foreign gold or silver coin current in the United States or in aclraal use
and circulation as money within the United States; or
"Whoever passes, utters, publishes, sells, possesses, or brings into
the United States any false, forged, or counterfeit coin or bar, knowing
the same to be false, forged, or counterfeit, with intent to defraud any
body politic or corporate, or any person, or attempts the commission of
any offense described in this paragraph—
"Shall be fined not more than $5,000 or imprisoned not more than Penalty.
fifteen years, or both."
(b) The table of sections at the beginning of chapter 25 of such title
is amended by striking

"485. Gold or silver coins or bars."

and inserting
"485. Coins or bars."

SEC. 212. (a) Chapter 17 of title 18 of the United States Code is "sc 331.336.
is amended by adding at the end:
"§ 337. Coins as security for loans
"Whoever lends or borrows money or credit upon the security of
such coins of the United States as the Secretary of the Treasury
may from time to time designate by proclamation published in the
Federal Register, during any period designated in such a procla- p.jfH"^^i,'^R"°"«i"^
mation, shall be fined not more than $10,000 or imprisoned not more Federal Register.
than one year, or both."
(b) The table of sections at the beginning of such chapter is
amended by adding at the end:
"337. Coins as security for loans."

(c) The amendments made by this section shall apply only with
respect to loans made, renewed, or increased on or after the 31st day
after the date of enactment of this Act.

258

PUBLIC LAW 89-82-JULY 24, 1965

[79

STAT.

T I T L E I I I — J O I N T COMMISSION ON T H E C O I N A G E
Membership.

Restriction.

Vacancies.

Duties.

Appropriation,

SEC. 301. The President is hereby authorized to establish a Joint
Commission on the Coinage to be composed of the Secretary of the
Treasury as Chairman; the Secretary of Commerce; the Director of
the Bureau of the Budget; the Director of the Mint; the chairman and
ranking minority member of the Senate Banking and Currency Committee, and four Members of the Senate, not members of such committee, to be appointed by the President of the Senate; the chairman and
ranking mmority member of the House Banking and Currency Committee, and four Members of the House of Representatives, not members of such committee, to be appointed hj the Speaker; and eight
public members to be appointed by the President, none of whom shall
be associated or identified with or representative of any industry,
group, business, or association directly interested as such m the composition, characteristics, or production of the coinage of the United
States.
SEC. 302. No public official or Member of Congress serving as a
member of the Joint Commission shall continue to serve as such after
he has ceased to hold the office by virtue of which he became a member
of the Joint Commission. Any vacancy on the Joint Commission shall
be filled by the choosing of a successor member in the same manner as
his predecessor.
SEC. 303. The Joint Commission shall study the progress made in
the implementation of the coinage program established by this Act,
and shall review from time to time such matters as the needs of the
economy for coins, the standards for the coinage, technological developments in metallurgy and coin-selector devices, the availability of
various metals, renewed minting of the silver dollar, the time when and
circumstances under which the United States should cease to maintain
the price of silver, and other considerations relevant to the maintenance
of an adequate and stable coinage system. I t shall, from time to time,
give its advice and recommendations with respect to these matters to
the President, the Secretary of the Treasury, and the Congress.
SEC. 304. There are authorized to be appropriated to remain available until expended, such amounts as may be necessary to carry out
the purposes of this title.
Approved July 23, 1965.
Public Law 89-82

July 24, 1965
[H. R. 9497]

76 Stat. 621.
7 u s e 1336.

<;,

AN ACT
To extend the time for conducting the referendum with respect to the national
marketing quota for wheat for the marketing year beginning July 1, 1966.

Be it enacted hy the SeTiate and House of Representatives of the
United States of America in Congress assembled, That section 336 of
the Agricultural Adjustment Act of 1938, as amended, is amended by
adding at the end thereof the follov^ing: "Notwithstanding any other
provision hereof the referendum with respect to the national marketing quota for wheat for the marketing year beginning July 1,1966,
may be conducted not later than thirty days after adjournment sine
die of the first session of the Eighty-ninth Congress.''
Approved July 24, 1965.