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2006 San Francisco Old Mint Silver Dollar Coin

CoinTrapTM Commentary: In 1852, the president of the United States approved an Act of congress establishing a branch of the U.S. Mint in San Francisco to produce gold coins from the gold extracted during the California gold rush. Several years later, the Old Mint building was constructed, nicknamed the “Granite Lady.”  The construction was of such quality and durability that it easily withstood the great 1906 San Francisco earthquake and the aftermath of the raging fire that swept the city.

The obverse design of the silver dollar is a rendition of the San Francisco Old Mint, originally prepared for the San Francisco Mint Medal by Sherl J. Winter. The reverse design is a replica of the 1904 Morgan Silver Dollar eagle reverse, designed by George T. Morgan.

Coin Value: What is the value of your San Francisco Old Mint Silver Dollar coin?  It depends. (Yep, as usual.) The San Francisco Old Mint Silver Dollar coin worth or value depends on these main factors: (1) your coin’s grade, (2) whether it is a proof coin (Deep Cameo or DCAM) having a mirror-like polished finish, and (3) scarcity/demand.  Regarding your coin’s grade, it has become a standard in the field of numismatics (coin collecting) to grade coins on a point-scale from 1 (poor) to 70 (perfect). This is also referred to as the “Mint State” or just “MS” for short. Click here to find the up-to-date estimated value of your San Francisco Old Mint Silver dollar coin from the Professional Coin Grading Service (PCGS®), which takes all three factors mentioned above into account*.  If you do not know the grade of your San Francisco Old Mint Silver coin, you can take it to your local coin dealer and ask that they have it graded at one of the three major coin grading services.

2006 San Francisco Old Mint Silver Dollar Coin - Obverse

2006 San Francisco Old Mint Silver Dollar Coin - Reverse

Obverse - San Francisco Old Mint Silver Dollar Coin

Designer: Sherl J. Winter
 

Reverse - San Francisco Old Mint Silver Dollar Coin

Designer: George T. Morgan
 

United States Mint images. CoinTrap.com is not affiliated with the United States Government in any way. Click here for terms and conditions.

    [[Page 120 STAT. 391]]

    Public Law 109-230
    109th Congress

                                     An Act

    To require the Secretary of the Treasury to mint coins in commemoration
       of the Old Mint at San Francisco, otherwise known as the ``Granite
     Lady'', and for other purposes. <<NOTE: June 15, 2006 - [H.R. 1953]>>

       Be it enacted by the Senate and House of Representatives of the
    United States of America in Congress <<NOTE: San Francisco Old Mint
    Commemorative Coin Act. 31 USC 5112 note.>> assembled,

    SECTION 1. SHORT TITLE.

       This Act may be cited as the ``San Francisco Old Mint Commemorative
    Coin Act''.

    SEC. 2. FINDINGS.

       The Congress hereby finds as follows:
               (1) The Granite Lady played an important role in the history
           of the Nation.
               (2) The San Francisco Mint was established pursuant to an
           Act of Congress of July 3, 1852, to convert miners' gold from
           the California gold rush into coins.
               (3) The San Francisco Old Mint Building was designed by
           architect A.B. Mullett, who also designed the United States
           Treasury Building and the Old Executive Office Building.
               (4) The solid construction of the Granite Lady enabled it to
           survive the 1906 San Francisco earthquake and fire, making it
           the only financial institution that was able to operate
           immediately after the earthquake as the treasury for disaster
           relief funds for the city of San Francisco.
               (5) Coins struck at the San Francisco Old Mint are
           distinguished by the ``S'' mint mark.
               (6) The San Francisco Old Mint is famous for having struck
           many rare, legendary issues, such as the 1870-S $3 coin, which
           is valued today at well over $1,000,000, and the 1894-S dime
           which is comparatively rare.
               (7) The San Francisco Old Mint Commemorative Coin will be
           the first commemorative coin to honor a United States mint.

    SEC. 3. COIN SPECIFICATIONS.

       (a) Denominations.--Notwithstanding any other provision of law, and
    in commemoration of the San Francisco Old Mint, the Secretary of the
    Treasury (hereafter in this Act referred to as the ``Secretary'') shall
    mint and issue the following coins:
               (1) $5 gold coins.--Not more than 100,000 $5 coins, which
           shall--
                       (A) weigh 8.359 grams;
                       (B) have a diameter of 0.850 inches; and

    [[Page 120 STAT. 392]]

                       (C) contain 90 percent gold and 10 percent alloy.
               (2) $1 silver coins.--Not more than 500,000 $1 coins, which
           shall--
                       (A) weigh 26.73 grams;
                       (B) have a diameter of 1.500 inches; and
                       (C) contain 90 percent silver and 10 percent copper.

       (b) Legal Tender.--The coins minted under this Act shall be legal
    tender, as provided in section 5103 of title 31, United States Code.
       (c) Numismatic Items.--For purposes of sections 5134 and 5136 of
    title 31, United States Code, all coins minted under this Act shall be
    considered to be numismatic items.

    SEC. 4. DESIGN OF COINS.

       (a) Design Requirements.--
               (1) In general.--The design of the coins minted under this
           Act shall be emblematic of the San Francisco Old Mint Building,
           its importance to California and the history of the United
           States, and its role in rebuilding San Francisco after the 1906
           earthquake and fire.
               (2) Designation and inscriptions.--On each coin minted under
           this Act there shall be--
                       (A) a designation of the value of the coin;
                       (B) an inscription of the year ``2006''; and
                       (C) inscriptions of the words ``Liberty'', ``In God
                   We Trust'', ``United States of America'', and ``E
                   Pluribus Unum''.

       (b) Selection.--The design for the coins minted under this Act shall
    be--
               (1) selected by the Secretary, after consultation with the
           Commission of Fine Arts, and the Board of the San Francisco
           Museum and Historical Society; and
               (2) reviewed by the Citizens Coinage Advisory Committee.

    SEC. 5. ISSUANCE OF COINS.

       (a) Quality of Coins.--Coins minted under this Act shall be issued
    in uncirculated and proof qualities.
       (b) Mint Facility.--The coins authorized under this Act shall be
    struck at the San Francisco Mint to the greatest extent possible.
       (c) Period for Issuance.--The Secretary may issue coins minted under
    this Act only during the 1-year period beginning on January 1, 2006.

    SEC. 6. SALE OF COINS.

       (a) Sale Price.--The coins issued under this Act shall be sold by
    the Secretary at a price equal to the sum of--
               (1) the face value of the coins;
               (2) the surcharge provided in section 7(a) with respect to
           such coins; and
               (3) the cost of designing and issuing the coins (including
           labor, materials, dies, use of machinery, overhead expenses,
           marketing, and shipping).

       (b) Bulk Sales.--The Secretary shall make bulk sales of the coins
    issued under this Act at a reasonable discount.
       (c) Prepaid Orders.--
               (1) In general.--The Secretary shall accept prepaid orders
           for the coins minted under this Act before the issuance of such
           coins.

    [[Page 120 STAT. 393]]

               (2) Discount.--Sale prices with respect to prepaid orders
           under paragraph (1) shall be at a reasonable discount.

    SEC. 7. SURCHARGES.

       (a) In General.--All sales of coins minted under this Act shall
    include a surcharge as follows:
               (1) A surcharge of $35 per coin for the $5 coin.
               (2) A surcharge of $10 per coin for the $1 coin.

       (b) Distribution.--Subject to section 5134(f) of title 31, United
    States Code, all surcharges received by the Secretary from the sale of
    coins issued under this Act shall be promptly paid by the Secretary to
    the San Francisco Museum and Historical Society for use for the purposes
    of rehabilitating the Historic Old Mint in San Francisco as a city
    museum and an American Coin and Gold Rush Museum.
       (c) Audits.--The San Francisco Museum and Historical Society shall
    be subject to the audit requirements of section 5134(f)(2) of title 31,
    United States Code, with regard to the amounts received by the Fund
    under subsection (b).
       (d) Limitation.--Notwithstanding subsection (a), no surcharge may be
    included with respect to the issuance under this Act of any coin during
    a calendar year if, as of the time of such issuance, the issuance of
    such coin would result in the number of commemorative coin programs
    issued during such year to exceed the annual 2 commemorative coin
    program issuance limitation under section 5112(m)(1) of title 31, United
    States Code (as in effect on the date of the enactment of this Act). The
    Secretary of the Treasury may issue guidance to carry out this
    subsection.

    SEC. 8. <<NOTE: 31 USC 5112 note.>> TECHNICAL CORRECTION.

       Notwithstanding the fifth sentence of section 5112(d)(1) of title
    31, United States Code, the Secretary of the Treasury may continue to
    issue, after December 31, 2005, numismatic items that contain 5-cent
    coins minted in the years 2004 and 2005.

       Approved June 15, 2006.

    LEGISLATIVE HISTORY--H.R. 1953:
    ---------------------------------------------------------------------------

    CONGRESSIONAL RECORD:
                                                           Vol. 151 (2005):
                                       Nov. 8, 10, considered and passed
                                           House.
                                                           Vol. 152 (2006):
                                       May 25, considered and passed
                                           Senate.
     

* CoinTrapTM is not affiliated with the PCGS®.  By clicking on the link above, you are opening a browser window containing content provided by a third party website and you will be subject to any terms and conditions as set forth on that website.

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