A bill to provide for the minting of American Gold Eagle coins pursuant to article 1, section 8 of the Constitution of the United States.
American Gold Eagle Coin Act of 1985 - Directs the Secretary of the Treasury to mint gold coins to be referred to as "American Eagles."
Sets forth the specifications for two types of such gold coins.
Declares that coins minted under this Act shall not be legal tender for public debts, public charges, taxes, duties or dues, but may be used for the payment of private debts.
Sets forth the dates by which the Secretary shall begin delivery of such coins.
Sets forth the formula by which the Secretary shall determine the daily price of such coins.
Declares that the Secretary shall charge no seigniorage (Government revenue charge) in excess of the gold bullion value except to the extent necessary to cover the expenses for production of such coins.
Permits the exchange of gold bullion for such American Eagle coins. Permits the Secretary to prescribe necessary regulations.
Subjects such gold coins to taxation in the same manner as other currency of the United States.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Consumer Affairs and Coinage.
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