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American 5-cent Coin Design Continuity Act of 2003
Understanding the American 5-cent Coin Design Continuity Act of 2003
Definition & Meaning
The American 5-cent Coin Design Continuity Act of 2003 is a federal law aimed at maintaining a consistent design for the 5-cent coin, also known as the nickel. This Act authorized the minting of the commemorative Westward Journey Nickel Series and established the Citizens Coinage Advisory Committee. It allows the Secretary of the Treasury to modify the coin's design for the years 2003, 2004, and 2005 to honor the bicentennial of the Louisiana Purchase and the Lewis and Clark expedition.
Table of content
Legal Use & context
This Act is relevant in the context of coinage and numismatic law. It plays a significant role in how commemorative coins are designed and issued in the United States. Legal practitioners may encounter this Act when dealing with issues related to currency design, coin collection, or numismatic investments. Users can manage related forms or applications through resources like US Legal Forms, which provides templates for legal documents concerning coinage and collectibles.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
Example 1: In 2004, the U.S. Mint released a nickel featuring a depiction of the Louisiana Purchase, in line with the provisions of the Act. This design change was made after consultation with the Citizens Coinage Advisory Committee.
Example 2: A collector may seek legal guidance on the implications of owning a nickel from the Westward Journey Nickel Series, which was minted under this Act. (hypothetical example)
Relevant laws & statutes
The primary statute relevant to this topic is the American 5-cent Coin Design Continuity Act of 2003. There are no additional specific laws directly related to this Act that govern coin design in the same context.
Comparison with related terms
Term
Definition
Key Differences
Commemorative Coin
A coin issued to honor a particular event or person.
Commemorative coins may not have the same legal tender status as regular coins.
Numismatic Law
The area of law that deals with the collection and trading of coins and currency.
Numismatic law encompasses a broader range of issues beyond just design continuity.
Common misunderstandings
What to do if this term applies to you
If you are a collector or interested in the legal aspects of coin design, consider researching the American 5-cent Coin Design Continuity Act of 2003 further. You can explore US Legal Forms for templates related to coin collection and numismatic transactions. If you encounter complex issues, consulting a legal professional with expertise in numismatic law may be beneficial.
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The Act aims to maintain a consistent design for the 5-cent coin while allowing for commemorative changes during specific years.
No, the design can only change during the years specified in the Act, which are 2003, 2004, and 2005.
The Secretary of the Treasury, after consulting with the Citizens Coinage Advisory Committee and the Commission of Fine Arts, makes the design decisions.