S 1639 · 99th Congress · Finance and Financial Sector
Gold Bullion Coin Act of 1985
Bill Progress
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EnactedLatest: Became Public Law No: 99-185.(1985-12-17)
Plain Language Summary
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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 only from natural deposits in the United States or a U.S. territory or possession or from U.S. reserves. 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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
Cosponsors (16)
6 Democrats10 Republicans