Bullion and Collectible Coin Production Efficiency and Cost Savings Act

Floor Speech

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Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise today in support of H.R. 1698, the Bullion and Collectible Coin Production Efficiency and Cost Savings Act, a bipartisan bill which I introduced in March, along with the gentlewoman from New York, Representative Maloney.

This simple piece of legislation would make minor changes to four existing coin programs. Each change saves money for the United States Mint, and it makes it easier to produce the coins or make the coins more attractive to investors and collectors.

The changes include: first, making it less expensive to package gold investment coins; second, it allows the Mint to buy standard coinage silver for collectible coins instead of the more expensive custom alloy; third, it removes the requirement for an already completed study on the production of an investor coin made of palladium; and, fourth, it allows collector versions of the widely popular American eagle silver investment coin to bear an inscription noting that next year is the 30th anniversary of the first issuance of those coins.

These small changes will have an impact on saving taxpayer dollars over the next few years.

Mr. Speaker, I ask for immediate passage of H.R. 1698.

I reserve the balance of my time.

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