,i #aacth ,,congress #ast ,session ,h4 ,r4 #bgfj ,,in ,,the ,,house ,,of ,,representatives ,july #ai1 #bjac ,ms4 ,pelosi 7for herself1 ,ms4 ,eshoo1 ,mr4 ,huffman1 ,ms4 ,lee of ,california1 ,ms4 ,lofgren1 ,mr4 ,george ,miller of ,california1 ,mrs4 ,napolitano1 ,ms4 ,roybal-,allard1 ,ms4 ,speier1 ,mr4 ,swalwell of ,california1 and ,mr4 ,thompson of ,california7 introduced the following bill2 which was referred to the ,committee on ,financial ,services ,a ,,bill ,to require the ,secretary of the ,treasury to mint coins in commemoration of the centennial of the ,panama-,pacific ,international ,exposition and the ,panama ,canal1 and for other purposes4 #a4 ,short title ,this ,act may be cited as the ,panama ,canal and ,pan-,pacific ,exhibition ,centennial ,celebration ,act4 #b4 ,findings ,the ,congress finds the following3 7#a7 ,the ,panama ,canal1 which cuts across the ,isthmus of ,panama1 was built between #ahij and #aiad4 ,it was the world's greatest engineering feat of its time and required a labor force of almost #dj1jjj4 7#b7 ,president ,theodore ,roosevelt1 recognizing the value of a canal1 led the ,united ,states in buying the equipment and concession to build the canal for #dj million1 and championed the effort that overcame malaria and immense logistical problems4 ,the ,canal opened on ,august #ae1 #aiad--dja years after ,spanish explorer ,vasco ,nuez de ,balboa first crossed ,panama4 7#c7 ,stretching #ea miles1 the ,panama ,canal connected the ,atlantic ,ocean and the ,pacific ,ocean1 saving sailors a dangerous #h1jjj-mile journey around ,cape ,horn and through the ,straits of ,magellan1 and cutting in half the time previously required to sail between the oceans4 7#d7 ,the #aiae ,panama-,pacific ,international ,exposition was a world's fair held in ,san ,francisco1 ,california4 ,the ,exposition ran from ,february #bj until ,december #d1 #aiae4 7#e7 ,the ,exposition commemorated the completion of the ,panama ,canal and the #djjth anniversary of the discovery of the ,pacific ,ocean by ,balboa4 7#f7 ,congress authorized the ,united ,states ,mint to issue five different coins dated #aiae in connection with the ,panama-,pacific ,international ,exposition4 ,the coins represent a high-water mark for ,american commemorative coins4 ,produced at the ,san ,francisco ,mint1 these were the first ,united ,states commemorative coins to bear the motto ,in ,god ,we ,trust1 and included the silver ,panama-,pacific half dollar and four gold coins in denominations of one dollar1 #ba_/b dollars1 a #ej-;dollar round coin1 and a unique #ej-;dollar octagonal coin4 7#g7 ,the octagonal #ej gold piece was the largest coin authorized by ,congress1 and the first minted since #aheb in a shape other than round4 7#h7 ,the ,united ,states should mark the centennial of this important event in ,san ,francisco and the monumental achievement of the opening of the ,panama ,canal4 7#i7 ,the proceeds from the surcharge on the sale of such commemorative coins will assist in supporting the educational programs of the ,san ,francisco ,museum and ,historical ,society4 #c4 ,coin specifications 7a7 ,denominations ,the ,secretary of the ,treasury 7hereafter in this ,act referred to as the ,secretary7 shall mint and issue the following coins1 notwithstanding section #eaab7;a7 of title #ca1 ,united ,states ,code3 7#a7 #e octagonal gold coins ,not more than #ge1jjj #e coins1 which shall-- 7,a7 be octagonal in shape2 7,b7 weigh #h4cei grams2 7,c7 have a distance between two opposing vertices of #j4hej inches2 and 7,d7 contain #ij percent gold and #aj percent alloy4 7#b7 #e round gold coins ,not more than #ge1jjj #e coins1 which shall-- 7,a7 be round in shape2 7,b7 weigh #h4cei grams2 7,c7 have a diameter of #j4hej inches2 and 7,d7 contain #ij percent gold and #aj percent alloy4 7#c7 ,two and one-half dollar gold coins ,not more than #ej1jjj two and one-half dollar coins1 which shall-- 7,a7 weigh #d4ah grams2 7,b7 have a diameter of #j4gjhg inches2 and 7,c7 contain #ij percent gold and #aj percent copper4 7#d7 #a gold coins ,not more than #ej1jjj #a coins1 which shall-- 7,a7 weigh #a4fg grams2 7,b7 have a diameter of #j4eijf inches2 and 7,c7 contain #ij percent gold and #aj percent copper4 7#e7 ,half dollar silver coins ,not more than #bej1jjj half dollar coins1 which shall-- 7,a7 weigh #ab4e grams2 7,b7 have a diameter of #a4bjdg inches2 and 7,c7 contain 4#iii fine silver4 7b7 ,legal tender ,the coins minted under this ,act shall be legal tender1 as provided in section #eajc of title #ca1 ,united ,states ,code4 7c7 ,numismatic items ,for purposes of section #eacd of title #ca1 ,united ,states ,code1 all coins minted under this ,act shall be considered to be numismatic items4 #d4 ,design of coins 7a7 ,design requirements 7#a7 ,in general ,the design of the coins minted under this ,act should be close likenesses of the five coins issued by the ,san ,francisco ,mint at the opening of the ,pan-,pacific ,exposition4 7#b7 ,specific design requirements 7,a7 #e gold coins ,the #e octagonal gold coins minted under this ,act and the #e round gold coins minted under this ,act shall be a close likeness of the octagonal ,panama-,pacific ,exposition #ej gold coin and the round ,panama-,pacific ,exposition #ej gold coin1 respectively4 ,such coins-- 7i7 shall have an obverse depicting the head of the goddess ,minerva1 with a ,corinthian-style helmet1 enclosed in a ring of beads2 7ii7 with a reverse-- 7,i7 depicting an owl perched on a pine bough complete with four pine cones and multiple sprigs of pine needles surrounded by the same ring of beads depicted on the obverse2 and 7,,ii7 depicting1 outside this ring1 the inscriptions ,,panama-,,pacific ,,exposition and ,,san ,,francisco in a single line of text circling the entire rim1 with the words separated by dots2 and 7iii7 with respect to the octagonal coin1 such coin shall also have an obverse and reverse that depicts1 in the eight angles of the vertices1 eight stylized dolphins that form an outer circle4 7,b7 ,two and one-half dollar gold coins ,the two and one-half dollar gold coins minted under this ,act shall be a close likeness of the ,panama-,pacific ,exposition two and one-half dollar gold coin1 and-- 7i7 the obverse shall bear the ,greek goddess ,columbia riding sidesaddle on the back of a ,greek mythological hippocampus seahorse1 with a caduceus in her left hand2 and 7ii7 the reverse shall bear an eagle perched on a plaque that is inscribed ,e ,pluribus ,unum and ,united ,states of ,america4 7,c7 #a gold coins ,the #a gold coin minted under this ,act shall be a close likeness of the ,panama-,pacific ,exposition #a gold coin1 and-- 7i7 the obverse shall bear the profile of a man wearing a cap which is intended to depict a laborer who worked on the construction of the ,panama ,canal2 and 7ii7 the reverse shall bear the image of two dolphins symbolizing the meeting of the two oceans1 with the inscriptions ,,panama ,,pacific ,,exposition and ,,san ,,francisco4 7,d7 ,half dollar silver coins ,the half dollar silver coins minted under this ,act shall be designed-- 7i7 to be a close likeness of the #aiae ,panama ,pacific ,exposition half dollar coin2 7ii7 with an obverse depicting ,columbia scattering flowers from a cornucopia held by a small child towards a sunset on the ,golden ,gate 7prior to the construction of the now famous bridge71 which was designed by the ,mint's then-,chief ,engraver1 ,charles ,barber2 and 7iii7 with a reverse depicting an eagle resting on the union shield with an oak branch to its left1 for stability and strength1 and an olive branch to its right1 for peace1 credited to ,barber's assistant ,george ,t4 ,morgan1 designer of the ,morgan dollar4 7#c7 ,designation and inscriptions ,on each coin minted under this ,act there shall be-- 7,a7 a designation of the value of the coin2 7,b7 an inscription of the year-- 7i7 depicted in ,roman numerals 7,,mmxvii71 in the case of the #e and half dollar coins2 and 7ii7 #bjag1 in the case of the #a coins and the two and one-half dollar gold coins2 and 7,c7 inscriptions of the words ,liberty1 ,in ,god ,we ,trust1 ,united ,states of ,america1 and ,e ,pluribus ,unum4 7b7 ,selection ,the design for the coins minted under this ,act shall be-- 7#a7 selected by the ,secretary after consultation with the ,commission of ,fine ,arts2 and 7#b7 reviewed by the ,citizens ,coinage ,advisory ,committee4 #e4 ,circulating coin 7a7 ,in general ,the ,secretary may issue circulating clad half dollar coins1 as described under section #eaab of title #ca1 ,united ,states ,code1 in the same design as described for the half dollar silver coins under section #d7;a77#b77;,d74 7b7 ,limitation ,if the ,secretary issues such circulating half dollar coins1 the ,secretary-- 7#a7 may issue them in no more than #e consecutive calendar years1 beginning in calendar year #bjag2 and 7#b7 shall ensure that1 of the total number of half dollar coins issued in any such calendar year1 not more than half of such coins are made up of the half dollar coins issued pursuant to this section4 #f4 ,issuance of coins 7a7 ,quality of coins ,coins minted under this ,act shall be issued in uncirculated and proof qualities4 7b7 ,mint facility ,only #a facility of the ,united ,states ,mint may be used to strike any particular quality of the coins minted under this ,act4 7c7 ,period for issuance ,the ,secretary may issue coins minted under this ,act1 other than coins described under section #e1 only during the #a-year period beginning on ,january #a1 #bjag4 #g4 ,sale of coins 7a7 ,sale price ,the coins issued under this ,act1 other than coins described under section #e1 shall be sold by the ,secretary at a price equal to the sum of-- 7#a7 the face value of the coins2 7#b7 the surcharge provided in section #h7;a7 with respect to such coins2 and 7#c7 the cost of designing and issuing the coins 7including labor1 materials1 dies1 use of machinery1 overhead expenses1 marketing1 and shipping74 7b7 ,bulk sales ,the ,secretary shall make bulk sales of the coins issued under this ,act1 other than coins described under section #e1 at a reasonable discount4 7c7 ,prepaid orders 7#a7 ,in general ,the ,secretary shall accept prepaid orders for the coins minted under this ,act1 other than coins described under section #e1 before the issuance of such coins4 7#b7 ,discount ,sale prices with respect to prepaid orders under paragraph 7#a7 shall be at a reasonable discount4 #h4 ,surcharges 7a7 ,in general ,all sales of coins issued under this ,act1 other than coins described under section #e1 shall include a surcharge of-- 7#a7 #ce per coin for the #e coins2 7#b7 #bj per coin for the two and one-half dollar coin2 7#c7 #ae per coin for the #a coin2 and 7#d7 #aj per coin for the half dollar coin4 7b7 ,distribution ,subject to section #eacd7;f77#a7 of title #ca1 ,united ,states ,code1 all surcharges received by the ,secretary from the sale of coins issued under this ,act1 other than coins described under section #e1 shall be promptly paid by the ,secretary to the ,san ,francisco ,museum and ,historical ,society for the design and construction of appropriate exhibitions in the ,san ,francisco ,museum and ,historical ,society1 including the necessary adaptive reuse of the ,old ,mint1 commemorating the ,panama-,pacific ,international ,exposition1 as well as the development of appropriate exhibitions at the ,palace of ,fine ,arts on the grounds of the former ,panama-,pacific ,international ,exposition4 7c7 ,audits ,the ,comptroller ,general of the ,united ,states shall have the right to examine such books1 records1 documents1 and other data of each of the organizations referred to in subsection 7b7 as may be related to the expenditures of amounts paid under such subsection4 7d7 ,limitation ,notwithstanding subsection 7a71 no surcharge may be included with respect to the issuance under this ,act1 other than coins described under section #e1 of any coin during a calendar year if1 as of the time of such issuance1 the issuance of such coin would result in the number of commemorative coin programs issued during such year to exceed the annual #b commemorative coin program issuance limitation under section #eaab7m77#a7 of title #ca1 ,united ,states ,code 7as in effect on the date of the enactment of this ,act74 ,the ,secretary of the ,treasury may issue guidance to carry out this subsection4