Browse Arkansas Code titles and sections

31 U.S.C. § 5120 — Obsolete, mutilated, and worn coins and currency

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5120 — Obsolete, mutilated, and worn coins and currency

**(a)** (1) The Secretary of the Treasury shall melt obsolete and worn United States coins withdrawn from circulation. The Secretary may use the metal from melting the coins for reminting or may sell the metal. The Secretary shall account for the following in the coinage metal fund under [section 5111(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5111/b&num=0&edition=prelim): (A) obsolete and worn coins and the metal from melting the coins. (B) proceeds from the sale of the metal. (C) losses incurred in the sale of the metal. (D) losses incurred because of the difference between the face value of the coins melted and the coins minted from the metal. (2) The Secretary shall reimburse the coinage metal fund for losses under paragraph (1)(C) and (D) of this subsection out of amounts in the coinage profit fund under [section 5111(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section5111/b&num=0&edition=prelim). **(b)** The Secretary shall— (1) cancel and destroy (by a secure process) obsolete, mutilated, and worn United States currency withdrawn from circulation; and (2) dispose of the residue of the currency and notes. **(c)** The Comptroller General shall audit the cancellation and destruction of United States currency and the accounting of the cancellation and destruction. Records the Comptroller General considers necessary to make an effective audit easier shall be made available to the Comptroller General.

Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 5120

Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.

Original supplied file — preserved unchanged

Download original Markdown file

File SHA-256: ee0e568c07e58bc775dbdb8949f44612a40ca859451c1f5883a33da2e0615640. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.

Authority boundary: historical or unconfirmed source not current law verified.

Open the recorded source website ↗

Record provenance

Stable record: federal_law:legal_authorities:record_usc_2e704286a4778466c1cb0507
Source file: Laws/federal/codes/united-states-code/title-31/section-5120-obsolete-mutilated-and-worn-coins-and-currency--47ca368543.md
Pages: Not recorded – Not recorded
Passage SHA-256: a99b3255631aca013acff09097d3ecedfdde5f639e04b39349083d1c4453f2f1

Source location: Title 31, Chapter 51, § 5120; chapter-051-coins-and-currency.md

Stored source content

Cross-references

Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5136 — United States Mint Public Enterprise Fund

There shall be established in the Treasury of the United States, a United States Mint Public Enterprise Fund (the “Fund”) for fiscal year 1996 and hereafter: Provided, That all receipts from Mint operations and programs, including the production and sale of numismatic items, the production and sale of circulating coinage, the protection of Government assets, and gifts and bequests of property, real or personal shall be deposited into the Fund and shall be available without fiscal year limitations: Provided further, That all expenses incurred by the Secretary of the Treasury for operations and programs of the United States Mint that the Secretary of the Treasury determines, in the Secretary’s sole discretion, to be ordinary and reasonable incidents of Mint operations and programs, and any expense incurred pursuant to any obligation or other commitment of Mint operations and programs that was entered into before the establishment of the Fund, shall be paid out of the Fund: Provided further, That not to exceed 6.2415 percent of the nominal value of the coins minted, shall be paid out of the Fund for the circulating coin operations and programs in fiscal year 1996 for those operations and programs previously provided for by appropriation: Provided further, That the Secretary of the Treasury may borrow such funds from the General Fund as may be necessary to meet existing liabilities and obligations incurred prior to the receipt of revenues into the Fund: Provided further, That the General Fund shall be reimbursed for such funds by the Fund within one year of the date of the loan: Provided further, That the Fund may retain receipts from the Federal Reserve System from the sale of circulating coins at face value for deposit into the Fund (retention of receipts is for the circu

Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 5136

Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 5120 — Obsolete, mutilated, and worn coins and

Page 410 TITLE 31—MONEY AND FINANCE § 5120 tions 122 and 145 of Title 12, Banks and Banking, and was repealed by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1069. Section 4 of the Old Series Currency Adjustment Act, referred to in subsec. (b)(1)(D), is section 4 of Pub. L. 87–66, June 30, 1961, 75 Stat. 146, which was classified to section 913 of former Title 31, and was repealed by Pub. L. 97–258, § 5(b), Sept. 13, 1982, 96 Stat. 1079. Acts February 25, 1862, July 11, 1862, and March 3, 1863, and resolution January 17, 1863, referred to in sub- sec. (b)(1)(E), are acts Feb. 25, 1862, ch. 33, 12 Stat. 345, July 11, 1862, ch. 142, 12 Stat. 532, and Mar. 3, 1863, ch. 73, 12 Stat. 709, and resolution Jan. 17, 1863, 12 Stat. 822, respectively, which are not classified to the Code. AMENDMENTS 1994—Subsec. (b)(2). Pub. L. 103–325 inserted con- cluding provisions. 1992—Subsec. (b)(2). Pub. L. 102–390 amended par. (2) generally. Prior to amendment, par. (2) read as follows: ‘‘The Secretary shall redeem from the general fund of the Treasury and cancel and destroy currency referred to in paragraph (1) of this subsection when the cur- rency is presented to the Secretary.’’ § 5120. Obsolete, mutilated, and worn coins and currency (a)(1) The Secretary of the Treasury shall melt obsolete and worn United States coins with- drawn from circulation. The Secretary may use the metal from melting the coins for reminting or may sell the metal. The Secretary shall ac- count for the following in the coinage metal fund under section 5111(b) of this title: (A) obsolete and worn coins and the metal from melting the coins. (B) proceeds from the sale of the metal. (C) losses incurred in the sale of the metal. (D) losses incurred because of the difference between

Source: Supplied 2024 U.S. Code historical extraction · 31 U.S.C. § 5120

Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.