FEDERAL · 31 U.S.C. · Chapter SUBCHAPTER III—UNITED STATES MINT
Settlement of accounts
31 U.S.C. § 5133
Title31 — Money and Finance
ChapterSUBCHAPTER III—UNITED STATES MINT
This text of 31 U.S.C. § 5133 (Settlement of accounts) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
31 U.S.C. § 5133.
Text
(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 super
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Source Credit
History
(Pub. L. 97–258, Sept. 13, 1982, 96 Stat. 989; Pub. L. 100–274, §2(c)(4)–(7), (9), (10), Mar. 31, 1988, 102 Stat. 49; Pub. L. 100–418, title V, §5115(c), Aug. 23, 1988, 102 Stat. 1433.)
Editorial Notes
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).
Editorial Notes
Amendments
1988—Subsec. (a)(1). Pub. L. 100–274, §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, §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, §2(c)(6), substituted "superintendent, who" for "superintendent and the officer, who".
Subsec. (b). Pub. L. 100–274, §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, §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, §2(c)(10), struck out "and assay office" after "procure for each mint" and "and assay offices" after "transactions at the mints".
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).
Editorial Notes
Amendments
1988—Subsec. (a)(1). Pub. L. 100–274, §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, §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, §2(c)(6), substituted "superintendent, who" for "superintendent and the officer, who".
Subsec. (b). Pub. L. 100–274, §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, §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, §2(c)(10), struck out "and assay office" after "procure for each mint" and "and assay offices" after "transactions at the mints".
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Bluebook (online)
31 U.S.C. § 5133, Counsel Stack Legal Research, https://law.counselstack.com/usc/31/5133.