H.R. 3405 would authorize the production of Saint-Gaudens Double Eagle ultra-high relief bullion coins in palladium to provide affordable opportunities for investments in precious metals.
Detailed Summary
Original Saint-Gaudens Double Eagle Ultra-High Relief Palladium Bullion Coin Act of 2009 - Authorizes the Secretary of the Treasury to mint and issue a $20 coin that bears, on the obverse and reverse, the designs of the famous 27-millimeter version of the 1907 Augustus Saint-Gaudens Double Eagle ultra-high relief gold piece.
Authorizes the Secretary to commence minting and issuing such coins for sale, beginning in 2009, in: (1) an appropriate number of $20 bullion investment coins meeting specified requirements; and (2) up to 15,000 ultra-high relief numismatic $20 coins meeting certain other requirements. Requires all coins to be minted at West Point, New York.
Prohibits numismatic coins from being made available as so-called "fractional" coins.
Requires the Secretary to take specified protective and anti-counterfeiting measures.
Instructs the Treasury Inspector General to report to certain congressional committees on the extent of counterfeiting of rare, collectible, or numismatic coins for sale in the United States, regardless of the country where the original of such coin was produced or of the country in which the counterfeiting takes place, or sales overseas if such counterfeit coins are unauthorized copies of coins originally produced by the U.S. Mint.
Status of the Legislation
Latest Major Action: 7/30/2009: Referred to House committee. Status: Referred to the House Committee on Financial Services.
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