A bill to authorize the minting of gold bullion coins.
Gold Bullion Coin Act of 1985 - Directs the Secretary of the Treasury to mint and issue gold coins in 50-dollar, 25-dollar, ten-dollar, and five-dollar denominations. Requires the Secretary to acquire the gold for such coins by purchase of gold mined from natural deposits in the United States or a U.S. territory or possession within one year after the month the ore was mined. Prohibits the Secretary from paying more than the average world price for such gold. Allows the Secretary to use gold from U.S. reserves in the absence of available supplies of such mined gold at the average world price.
Repeals a provision prohibiting the Government from delivering any gold coin.
Requires any profit from the sale of such coins to be deposited in the Treasury and applied toward reducing the national debt. Directs the Secretary to ensure that the issuance of such coins results in no net cost to the Government.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 342.
Introduced in Senate
Read twice and referred to the Committee on Banking.
Committee on Banking. Approved for reporting an original bill (S. 1752) in lieu of this measure.
Committee on Banking. Approved for reporting with an amendment favorably.
Committee on Banking. Reported to Senate by Senator Garn with an amendment. Without written report.
Committee on Banking. Reported to Senate by Senator Garn with an amendment. Without written report.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 401.
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.
Passed Senate with an amendment by Voice Vote.
Unanimous Consent Request to Consider Measure Rejected in House.
Called up by House Under Suspension of Rules.
Passed/agreed to in House: Passed House by Voice Vote.
Enacted as Public Law 99-185
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Passed House by Voice Vote.
Measure Signed in Senate.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 99-185.
Became Public Law No: 99-185.