To amend title 31, United States Code, to clarify the sources of silver for bullion coins, and for other purposes.
Committees
House Financial Services; Senate Banking, Housing, and Urban Affairs
Bill Summary
Silver Eagle Coin Continuation Act of 2002 - Amends Federal currency law to repeal the prohibition against using silver transferred to stockpiles established under the Strategic and Critical Materials Stock Piling Act to mint coins.(Sec. 2) Instructs the Secretary of the Treasury to study and report to Congress on the impact on the U.S. silver market of minted and issued coins.Instructs the Director of the United States Mint to report annually to Congress on purchases of silver the Secretary makes.(Sec. 3) Revises conditions for payment of surcharges to recipient organizations to limit such a payment to an amount matching the amount the organization has raised from private funds.(Sec. 4) States that any expense incurred by the Secretary in connection with the Citizens Commemorative Coin Advisory Committee shall be treated as an ordinary and reasonable incident of Mint operations and programs. Mandates preparation of a budget for the United States Mint Public Enterprise Fund, as well as annual financial statements, audits, and reports on the Fund, and an annual marketing report.
To amend title 31, United States Code, to clarify the sources of silver for bullion coins, and for other purposes.
Silver Eagle Coin Continuation Act of 2002 - Amends Federal currency law to repeal the prohibition against using silver transferred to stockpiles established under the Strategic and Critical Materials Stock Piling Act to mint coins.(Sec. 2) Instructs the Secretary of the Treasury to study and report to Congress on the impact on the U.S. silver market of minted and issued coins.Instructs the Director of the United States Mint to report annually to Congress on purchases of silver the Secretary makes.(Sec. 3) Revises conditions for payment of surcharges to recipient organizations to limit such a payment to an amount matching the amount the organization has raised from private funds.(Sec. 4) States that any expense incurred by the Secretary in connection with the Citizens Commemorative Coin Advisory Committee shall be treated as an ordinary and reasonable incident of Mint operations and programs. Mandates preparation of a budget for the United States Mint Public Enterprise Fund, as well as annual financial statements, audits, and reports on the Fund, and an annual marketing report.