
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC5133]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE IV--MONEY
 
                     CHAPTER 51--COINS AND CURRENCY
 
                   SUBCHAPTER III--UNITED STATES MINT
 
Sec. 5133. Settlement of accounts

    (a) The Secretary of the Treasury shall--
        (1) charge the superintendent of each mint with the amount in 
    weight of standard metal of bullion the superintendent receives from 
    the Secretary;
        (2) credit each superintendent with the amount in weight of 
    coins, clippings, and other bullion the superintendent returns to 
    the Secretary; and
        (3) charge separately to each superintendent, who shall account 
    for, copper to be used in the alloy of gold and silver bullion.

    (b) Settlement of Accounts.--
        (1) In general.--At least once each year, the Secretary of the 
    Treasury shall settle the accounts of the superintendents of the 
    mints.
        (2) Procedure.--At any settlement under this subsection, the 
    superintendent shall--
            (A) return to the Secretary any coin, clipping, or other 
        bullion in the possession of the superintendent; and
            (B) present the Secretary with a statement of bullion 
        received and returned since the last settlement (including any 
        bullion returned for settlement).

        (3) Audit.--The Secretary shall--
            (A) audit the accounts of each superintendent; and
            (B) allow each superintendent the waste of precious metals 
        that the Secretary determines is necessary--
                (i) for refining and minting (within the limitations 
            which the Secretary shall prescribe); and
                (ii) for casting fine gold and silver bars (within the 
            limit prescribed for refining), except that any waste 
            allowance under this clause may not apply to deposit 
            operations.

    (c) After settlement, the Secretary shall compare the amount of gold 
and silver bullion and coins on hand with the total liabilities of the 
mints. The Secretary also shall make a statement of the ordinary expense 
account.
    (d) The Secretary shall procure for each mint a series of standard 
weights corresponding to the standard troy pound of the National 
Institute of Standards and Technology of the Department of Commerce. The 
series shall include a one pound weight and multiples and subdivisions 
of one pound from .01 grain to 25 pounds. At least once a year, the 
Secretary shall test the weights normally used in transactions at the 
mints against the standard weights.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 989; Pub. L. 100-274, 
Sec. 2(c)(4)-(7), (9), (10), Mar. 31, 1988, 102 Stat. 49; Pub. L. 100-
418, title V, Sec. 5115(c), Aug. 23, 1988, 102 Stat. 1433.)

                                          Historical and Revision Notes
-------------------------------------------------------------------------------
---------------------------------
           Revised Section                   Source (U.S. Code)                
Source (Statutes at Large)
-------------------------------------------------------------------------------
---------------------------------
5133(a)..............................  31:354(1st sentence).           R.S. Sec
.  3541; Aug. 23, 1912, ch. 350,
                                                                        Sec.  1
(last par. words before 7th comma
                                                                        under h
eading ``Assay Office at Salt
                                                                        Lake Ci
ty, Utah''), 37 Stat. 384.
                                       31:355(last sentence).          R.S. Sec
.  3542; Aug. 23, 1912, ch. 350,
                                                                        Sec.  1
(last par. words before 7th comma
                                                                        under h
eading ``Assay Office at Salt
                                                                        Lake Ci
ty, Utah''), 37 Stat. 384; July
                                                                        23, 196
5, Pub. L. 89-81, Sec.  207, 79
                                                                        Stat. 2
57.
5133(b)..............................  31:283(2d, last sentences).     R.S. Sec
.  3558(2d, last sentences);
                                                                        restate
d July 11, 1962, Pub. L. 87-534,
                                                                        Sec.  2
, 76 Stat. 155.
                                       31:354(last sentence).
                                       31:355(1st, 2d sentences).
5133(c)..............................  31:356.                         R.S. Sec
.  3543.
5133(d)..............................  31:365.                         R.S. Sec
.  3549; restated Mar. 4, 1911,
                                                                        ch. 268
, Sec.  2, 36 Stat. 1354.
-------------------------------------------------------------------------------
---------------------------------

    In the section, the word ``Secretary'' is substituted for 
``superintendent'' and ``Director of the Mint'' in 31:354, 356, 365, and 
the word ``Superintendent'' is substituted for ``superintendent of 
coining department'' in 31:354 and 355 and ``superintendent of melting 
and refining'', because of the source provisions restated in section 
321(c) of the revised title.
    In subsection (a), the words ``superintendent of each mint and the 
assay office at New York and the officer in charge of the assay office 
at San Francisco'' are added because of the source provisions restated 
in section 5131(b) and (c) of the revised title.
    In subsection (b), before clause (1), the words ``shall settle'' are 
substituted for ``and at such time as the . . . shall appoint, there 
shall be an accurate and full settlement'' in 31:354(last sentence) to 
eliminate unnecessary words. In clause (1), the words ``The Secretary 
shall audit'' are substituted for ``When all the coins, clippings, and 
other bullion have been delivered to the superintendent, it shall be his 
duty to examine'' in 31:355(1st, 2d sentences) to eliminate unnecessary 
words. In clause (2), the words ``the waste of precious metals . . . 
decides is necessary for refining and minting'' are substituted for 
``The difference between the amount charged and credited to each officer 
. . . as necessary wastage, if . . . shall be satisfied that there has 
been a bona fide waste of the precious metals'' for consistency in the 
subsection and to eliminate unnecessary words. In clause (3), the words 
``limitations prescribed for refining'' are substituted for ``that 
provided for the melter and refiner'' in 31:283(2d, last sentences) for 
consistency in the subsection. The word ``bona fide'' is omitted as 
being included in ``necessary''.
    In subsection (c), the words ``It shall also be the duty of the 
superintendent to forward a correct statement of his balance sheet'' are 
omitted as superseded by the source provisions restated in section 
321(c) of the revised title. The words ``mints and assay offices'' are 
substituted for ``mint'' for consistency in the section.
    In subsection (d), the words ``National Bureau of Standards of the 
Department of Commerce'' are substituted for ``Bureau of Standards of 
the United States'' because of 15:1511. The words ``from .01 grain'' are 
substituted for ``from the hundredths part of a grain'' for consistency. 
The words ``under the inspection of the superintendent and assayer'' are 
omitted as superseded by the source provisions restated in section 
321(c) of the revised title. The words ``and the accuracy of those used 
at the mint at Philadelphia shall be tested annually in the presence of 
the assay commissioners, at the time of the annual examination and test 
of coins'' are omitted because the position of assay commissioner was 
abolished by section 201 of the Act of March 14, 1980 (Pub. L. 96-209, 
94 Stat. 98).


                               Amendments

    1988--Subsec. (a)(1). Pub. L. 100-274, Sec. 2(c)(4), substituted 
``each mint'' and ``superintendent receives'' for ``each mint and the 
assay office at New York and the officer in charge of the assay office 
at San Francisco'' and ``superintendent or officer receives'', 
respectively.
    Subsec. (a)(2). Pub. L. 100-274, Sec. 2(c)(5), substituted ``credit 
each superintendent with the amount'' and ``superintendent returns'' for 
``credit each superintendent and the officer with the amount'' and 
``superintendent or officer returns'', respectively.
    Subsec. (a)(3). Pub. L. 100-274, Sec. 2(c)(6), substituted 
``superintendent, who'' for ``superintendent and the officer, who''.
    Subsec. (b). Pub. L. 100-274, Sec. 2(c)(7), inserted heading and 
amended subsec. (b) generally. Prior to amendment, subsec. (b) read as 
follows: ``At least once a year, the Secretary shall settle the accounts 
of the superintendents and the officer in charge. At settlement, each 
superintendent and the officer shall return to the Secretary coins, 
clippings, and other bullion in their possession with a statement of 
bullion received and returned since the last settlement (including 
bullion returned for settlement). The Secretary shall--
        ``(1) audit the accounts and statements of each superintendent 
    and the officer;
        ``(2) allow each superintendent the waste of precious metals, 
    within limitations prescribed by the Secretary, that the Secretary 
    decides is necessary for refining and minting; and
        ``(3) allow the officer the waste, within the limitations 
    prescribed for refining, that the Secretary decides is necessary in 
    casting fine gold and silver bars, except that the waste allowance 
    may not apply to deposit operations.''
    Subsec. (c). Pub. L. 100-274, Sec. 2(c)(9), struck out ``and assay 
offices'' after ``total liabilities of the mints''.
    Subsec. (d). Pub. L. 100-418 substituted ``National Institute of 
Standards and Technology'' for ``National Bureau of Standards''.
    Pub. L. 100-274, Sec. 2(c)(10), struck out ``and assay office'' 
after ``procure for each mint'' and ``and assay offices'' after 
``transactions at the mints''.
