American Gold Eagle Coin Act of 1983

Summary

American Gold Eagle Coin Act of 1983 - 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 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. Declares that any gain or loss derived from the sale, exchange, or other disposition of any coin authorized by this Act shall not be recognized as a capital gain or loss under any Federal, State, or local income tax. Exempts the purchase or sale of any such coin from any Federal, State, or local sales, personal property, or excise tax.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 26 January 1983

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.