Bill summaries are authored by CRS.

Shown Here:
Passed Senate amended (02/17/1988)

(Measure passed Senate, amended)

Authorizes appropriations for FY 1988 for the United States Mint.

Authorizes: (1) the expenditure of appropriated funds for the purpose of hosting the International Mint Directors' Conference in 1988; and (2) the Director of the Mint to collect fees to pay Conference expenses from Conference participants.

Redesignates the assay offices in San Francisco, California, and West Point, New York, as U.S. mints.

Requires the Secretary of the Treasury to acquire only such articles, materials, supplies, and services for the production of coins as have been produced or manufactured in the United States, unless the Secretary determines that it would be inconsistent with the public interest or the cost would be unreasonable. Requires the Secretary to publish in the Federal Register a written finding stating the basis for any such determination. Specifies that such restriction: (1) shall apply only in the case of a bid or offer from a supplier with a principal place of business in a foreign country which does not accord to U.S. companies the same competitive opportunities for procurements in connection with the production of coins as it accords to domestic companies; and (2) shall not affect the procurement of gold and silver for coin production. Provides that such determination shall be reviewable in any administrative proceeding or court.

Requires that gold bullion coins be minted to specified tolerances. Requires that any U.S. gold coin contain the full weight of gold stated on the coin.

Requires that any amounts received from the sale of gold be used solely for the purpose of reducing the national debt.

Requires the Secretary to make bulk sales of silver bullion coins at a reasonable discount.