A bill to preserve, stabilize, and reactivate the domestic gold mining industry of public, Indian, and other lands within the United States, and to increase the domestic production of gold to provide the requirements of industry, national defense, and other nonmonetary uses of gold.

Declares that the prupose of the Act is to preserve, stabilize, and reactivate the domestic gold mining industry within the United States by increasing the domestic production of gold and stimulating the search for new gold ore reserves.

Authorizes United States citizens to produce, sell, hold and buy gold commemorative Medallions without restriction as to quantity so long as the gold used in fabricating the Medallions is newly mined gold produced by United States operators. Specifies that the first commemorative medallion authorized under this Act will be to meorialize Gifford Pinchot, the Pennsylvania conservationist.