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cant resides or has his principal place of business. Upon receipt of the application and after making such investigation of the case as it may deem advisable, the Federal Reserve bank shall transmit to the Secretary of the Treasury the original of the application, together with any supplemental information it may deem appropriate. The Federal Reserve bank shall retain the duplicate of the application for its records.
(b) Licenses. If the issuance of a license is approved, the Federal Reserve bank which received and transmitted the application will be advised by the Secretary of the Treasury and directed to issue a license on form TGL-18. If a license is denied, the Federal Reserve bank will be so advised and shall immediately notify the applicant. The decision of the Secretary of the Treasury with respect to the granting of denying of a license shall be final. If a license is granted, the Federal Reserve bank shall thereupon note upon the duplicate of the application therefor, the date of approval and issuance and the amount of gold specified in such license.
(c) Reports. Within 7 business days of the date of disposition of the gold acquired or held under a license issued under this section, or within 7 business days of the date of export, if such exportation is authorized, the licensee shall file a report in duplicate on form TGR18 with the Federal Reserve bank through which the license was issued. Upon receipt of such report, the Federal Reserve bank shall transmit the original thereof to the Secretary of the Treasury, and retain the duplicate for its records. § 54.35 Rare gold bars.
(a) The Director, Office of Domestic Gold and Silver Operations, may issue or cause to be issued licenses or other authorizations, permitting the acquistion, holding, transportation and importation of gold bars which the Director is statisfied have been of recognized special value to collectors of numismatic items at all times since prior to April 5, 1933. Gold bars manufactured after December 31, 1900, shall be presumed not to be of such recognized special value to collectors. Application for a license under this paragraph shall be executed on Form TG-32 and filed in duplicate with the Director, Office of Domestic Gold and Silver Operations.
(b) Gold bars held pursuant to a license issued under paragraph (a) of this
section may be exported only pursuant to a separate export license issued by the Director, Office of Domestic Gold and Silver Operations. Application for such a license shall be executed on Form TG33 and filed in duplicate with the Director. (30 F.R. 10885, Aug. 21, 1965)
Subparts F, G, and H [Reserved] Subpart 1-General License To Hold
Gold Certificates $ 54.83 General license; gold certifi.
cates. A general license is hereby granted licensing all persons subject to the jurisdiction of the United States, as defined in § 54.4(a) (13), to acquire, hold, dispose of, export and import United States gold certificates issued before January 30, 1934. This general license applies to any such gold certificates whether situated inside or outside of the United States. Such certificates shall not be redeemable in gold, but may be exchanged at the dollar face amount thereof in other coins and currencies of the United States which may be lawfully acquired and are legal tender for public and private debts. (Sec. 3, 48 Stat. 2; 12 U.S.C. 248(n)) (29 F.R. 5557, Apr. 25, 1964)
PART 55-PROCLAMATION FIXING
THE WEIGHT OF THE GOLD DOLLAR Sec. 55.1 Weight of the gold dollar. 55.2 Force and effect of President's Procla
mation of January 31, 1934. AUTHORITY: The provisions of this part 55 issued under sec. 43, 48 Stat. 51, as amended; 31 U.S.C. 821.
SOURCE: The provisions of this part 55 con. tained in Proclamation 2072, Jan. 31, 1934, unless otherwise noted. $ 55.1 Weight of the gold dollar.
I, Franklin D. Roosevelt, President of the United States, do hereby proclaim, order, direct, declare and fix the weight of the gold dollar to be 15 5/21 grains nine-tenths fine, from and after the date and hour of this proclamation. The weight of the silver dollar is not altered or affected in any manner by reason of this proclamation. S 55.2 Force and effect of President's
Proclamation of January 31, 1934. This proclamation shall remain in force and effect until and unless repealed
or modified by act of Congress or by subsequent proclamation; and notice is hereby given that I reserve the right by virtue of the authority vested in me to alter or modify this proclamation as the interest of the United States may seem to require.
PART 56-OFFICE OF DOMESTIC
GOLD AND SILVER OPERATIONS
SALE OF SILVER Sec. 56.1 Conditions upon which silver will be
sold. 56.2 Sales price.
AUTHORITY: The provision of this Part 56 issued under sec. 209, 79 Stat. 257; 31 U.S.C. 405a-1. $ 56.1 Conditions upon which silver will
be sold. The General Services Administration, as agent for the Treasury Department, will conduct periodic sales of silver as agreed upon between GSA and the Treasury Department. Sales will be under competitive bidding procedures established by agreement between GSA and the Treasury Department. Details of the bidding and selling procedures are obtainable by telephone or by writing to General Services Administration, Property Management and Disposal Service, Industry Materials Division, Metals Project, Washington, D.C. 20405. [32 F.R. 13380, Sept. 22, 1967) § 56.2 Sales price.
Sales of silver will be at prices offered through the competitive bidding procedures referred to in $ 56.1, and accepted by the GSA. (32 F.R. 13380, Sept. 22, 1967)
NOTE: Subject to the provisions of Public Law 90-29, approved June 24, 1967, silver certificates will continue to be exchangeable for silver on demand until June 24, 1968, and as specified in the first paragraph of the notice appearing at 29 F.R. 3819, March 27, 1964.
AUTHORITY: The provisions of this part 81 Issued under secs. 104, 107, 79 Stat. 265; 31 U.S.C. 394, 397.
SOURCE: The provisions of this Part 81 appear at 32 F.R. 195, Jan. 10, 1967, unless otherwise noted. $ 81.1 Scope.
The regulations in this part relate to the receipt by the U.S. mints and assay offices, pursuant to the provisions of section 104 of the Coinage Act of 1965, P.L. 89-81, of silver mined in the United States or any place subject to the jurisdiction thereof. § 81.2 Definitions.
As used in this part, the term “person" means an individual, partnership, association, or corporation. The authority conferred in the regulations in this part upon a U.S. mint or assay office is conferred upon the person locally in charge of such mint or assay office, acting in accordance with the instructions of the Secretary of the Treasury or his delegate. $ 81.3 Forms.
Any form, the use of which is prescribed in this part, may be obtained at or on written request to any U.S. mint or assay ofice or at the office of Domestic Gold and Silver Operations, Treasury Department, Washington, D.C. 20220. $81.4 Revocation or modification.
The provisions of this part may be revoked or modified at any time. $ 81.5 Silver which will be received.
The U.S. mints and assay offices, under the conditions hereinafter specified, and subject to the appropriate regulations governing the mints and assay ofices will receive:
(a) Silver which has been mined subsequent to July 23, 1965, from natural deposits in the United States or any place subject to the jurisdiction thereof and was tendered to the mint or assay office within 1 year after the month in which the ore from which it is derived was mined;
(b) Silver which forms a part of a mixture of a newly mined domestic, secondary, and/or foreign silver provided the amount of the silver so received does not exceed that amount of the mixture
PART 81-NEWLY-MINED DOMESTIC
SILVER REGULATIONS OF 1965 Sec. 81.1 Scope. 81.2 Definitions. 81.3 Forms. 81.4 Revocation or modification. 81.5 Silver which will be received. 81.6 Certificates. 81.7 Evidence which may be required. 81.8 Records.
mined subsequent to July 23, 1965, from port shall cover the period from July 23, natural deposits in the United States 1965 to the end of the calendar month or any place subject to the jurisdiction preceding the date of the report. thereof within 1 year (computed from
§ 81.10 Agreement relating to records. the first day of the month following the month in which the ore from which it is Every person who delivers to a U.S. derived was mined) preceding the date
mint or assay office, in accordance with such mixture is tendered to the mint or § 81.5(b), silver which has been mixed assay office.
with secondary or foreign silver at a
smelter or refinery, other than that of $ 81.6 Certificates.
the person making the delivery, shall, Every person delivering silver to a U.S. upon request of the Director, Office of mint or assay office pursuant to the pro Domestic Gold and Silver Operations, visions of this part shall file with each also file with each delivery of such silver delivery a properly executed certificate an agreement properly executed under on form TSA-100 and supporting cer oath by a duly authorized officer of such tificate or certificates of the miner or other smelter or refinery, that records miners on forms TSA-200 or TSA-200A, will be kept in accordance with the prowhichever is appropriate, containing the visions of $ 81.8 and that such records information called for in such forms. will be available for examination by a $ 81.7 Evidence which may be required.
representative of the Director, Office of
Domestic Gold and Silver Operations Persons delivering silver under the for at least 5 years following the date provisions of this part shall furnish such
of the transaction to which they relate. further evidence as may from time to time be requested by the Office of Do- § 81.11 Settlement for silver delivered. mestic Gold and Silver Operations, in The U.S. mints and assay offices shall cluding affidavits, sworn reports, and
pay for silver delivered in accordance sworn abstracts from books of account of
with this part at the rate of $1.25 per fine any mines or any or all smelters or re
troy ounce but shall retain from such fineries handling such silver.
purchase price an amount equal to all $ 81.8 Records.
mint charges. Every person delivering silver pursuant to this part, and every person owning or
PART 90—TABLE OF CHARGES AND operating a smelter or refinery at which
REGULATIONS OF THE MINTS AND silver to be delivered under this part is ASSAY OFFICES OF THE UNITED mixed with secondary or foreign silver, STATES FOR PROCESSING SILVER or both, shall keep accurate records of
AND ASSAYING BULLION, METALS, all acquisitions, by mining or otherwise,
AND ORES 1 and of all dispositions of silver mined subsequent to July 23, 1965, including, Sec. among other things, records of the date
90.1 Application and general regulations.
90.2 Silver bullion which may be accepted. when such silver was mined, acquired, and disposed of. Such records shall be
90.3 Requisites for acceptable bullion, as to
fineness. available for examination by a repre
90.4 Return or rejection of silver deposited. sentative of the Treasury Department 30.5 Charges for treating and processing until the end of the fifth calendar year
silver. (or if such person's records are kept on a 90.6 Charges for special assays and assays fiscal year basis until the end of the fifth
of ores. fiscal year) following the date of the
90.7 Transactions not subject to various
treating and processing charges. transaction to which they relate.
90.8 Settlement for transactions conducted. § 81.9 Reports.
AUTHORITY: The provisions of this part 90 Every person delivering silver to a U.S. issued under 5 U.S.C. 301, R.S. 3524, as mint or assay ofice pursuant to this part amended, R.S. 3546, 48 Stat. 337; 31 U.S.C. shall file with the Director, Office of
332, 360. Domestic Gold and Silver Operations on or before the 25th day of each month
1 Coinage Mints are located at Philadel. after the date the first delivery is made,
phia, Pa., and Denver, Colo.; U.S. Assay Of.
Aces are located at New York, N.Y., and San a report on form TSA-300 covering the Francisco, Calll. Deposits are not accepted in preceding calendar month. The first re Washington, D.C.
SOURCE: The provisions of this Part 90 appear at 35 F.R. 19177, Dec. 18, 1970, unless otherwise noted. & 90.1 Application and general regula
tions. (a) Scope. This part prescribes policies, regulations, and charges of the U.S. Mints and Assay Offices governing the acceptance and treatment of silver deposited for purchase, under provisions of the Newly-Mined Domestic Silver Regulations of 1965, the regulations of the Office of Domestic Gold and Silver Operations (Parts 81 and 93 of this chapter, respectively) and Title 31 of the United States Code.
(b) Assaying, melting, parting and refining, and other related services. The charges for the various operations on bullion deposited, for the preparation of bars, and for the assay of samples of bullion and ores are fixed from time to time by the Director of the Mint, with the concurrence of the Secretary of the Treasury, so as to equal but not exceed in their judgment the actual average costs. The U.S. Mints and Assay Offices shall impose appropriate charges for services performed under these regulations.
(c) Metals not returned to depositors. Metals other than silver contained in bullion accepted will not be returned to the depositor, nor will credit or payment be given for them. § 90.2 Silver bullion which may be ac
cepted. The U.S. Mints and Assay Offices will accept for purchase, silver which meets the requisites set forth in Parts 81 and 93 of this chapter, and the general regulations in this part. $ 90.3 Requisites for acceptable bullion
as to fineness. (a) Silver governed by the regulations in Parts 81 and 93 of this chapter must contain at least 600 parts of silver in 1,000, to be eligible for deposit under the regulations in this part.
(b) In addition to this requisite as to fineness, deposits in this category must also be accompanied by duly executed affidavits as evidence that such silver is eligible. Forms for this purpose are prescribed in Part 93 of this chapter. $ 90.4 Return or rejection of silver de
posited. (a) Unsatisfactory silver bullion. Any silver bullion that fails to meet the necessary requisites set forth in Parts 81 and
93 of this chapter, and this part, or that is unsuitable for mint operations, shall not be accepted, but shall be returned according to provisions of paragraph (b) of this section.
(b) Return of bullion. Subject to payment in cash to the Government for charges incurred, bullion may be returned to the depositor at any time before settlement is made or payment is tendered therefor, and thereafter at the option of the superintendent of the Mint or the officer in charge of the Assay Office handling the bullion. $90.5 Charges for treating and process
ing silver. (a) Melting charges. A melting charge of $5 shall be imposed for the first 1,000 gross troy ounces of each deposit of bullion. An additional melting charge of 50 cents shall be imposed for each additional 100 gross troy ounces or fraction thereof. These rates shall be applied to the after melting gross weight of the deposit.
(b) Excess melting loss charge. When there is a melting loss in excess of 15 percent of the before melting weight of a deposit of bullion, an additional melting charge of $3 shall be imposed for the first 100 gross troy ounces. An additional melting charge of $1 shall be imposed in this case for each additional 100 gross troy ounces or fraction thereof. These additional rates shall be applied to the before melting gross weight of the deposit.
(c) Abnormal treatment charges. At the discretion of the superintendent of the Mint or the officer in charge of the Assay Office, deposits of bullion which require abnormal treatment shall be subjected to additional charges equal to the extra cost, including remelting and retreatment if necessary. When charges for abnormal treatment are assessed, a charge will not be made for an excess melting loss.
(d) Parting and refining charge (rate per gross troy ounce to the nearest hundredth) -Silver Bullion.
Charge Silver content:
(cents) 600 to 850 thousandths.
12 85012 to 99534 thousandths------- 6 $ 90.6 Charges for special assays and
assays of ores. (a) General. Gold or silver bullion and ores submitted for special assay will be accepted by the United States Mints and Assay Offices only if the owner is au
thorized by the regulations in Part 54 of deposit is at least equal to the amount this chapter to receive in return any gold advanced. contained therein.
(b) Statement of charges. The de(b) Special assays.
tailed memorandum of the weight of bul
lion after melting, the report of the Gold or
Assayer as to fineness, the value of the silver Plated
bullion deposited and the amount of the Metals determined
bullion or filled
(c) Payment for silver bullion demetal)
posits. Payment for silver bullion is
made, in so far as practicable, in the
Charges per assay Gold...
order in which the deposits are received, Silver...
12 by check drawn in favor of the depositor Gold and silver (same sample).
or to such other person as he may desigAdditional charge when the sample contains any of the
nate. In no case is a check in payment platinum group metals...
of a deposit drawn in favor of any officer
or employee of the institution where the (c) Assay of ores. Assays of ores will
deposit is made, and in no case may any be made at the U.S. Mint, Denver, Colo.
person employed in the institution act The charge for each metal determined
as agent for the depositor. Checks may will be:
be sent by ordinary mail at the risk of Charge
the payee or by registered mail at his Gold
request and expense.
PART 91-REGULATIONS GOVERN-
ING CONDUCT IN OR ON THE Zinc
BUREAU OF THE MINT BUILDINGS Copper
AND GROUNDS 8 90.7 Transactions not subject to var
Sec. ious treating and processing charges.
91.1 Authority. (a) Deposits exempt from melting 91.2 Applicability. charges. (1) Uncurrent U.S. coin.
91.3 Recording presence.
91.4 (2) Silver bullion of at least 999 thou
Preservation of property.
91.5 Compliance with signs and directions. sandths fineness when a satisfactory as
91.6 Nuisances. say can be obtained without melting.
91.7 Gambling. (b) Deposits exempt from parting and 91.8 Intoxicating beverages, narcotics, halrefining charges. Deposits of domestic
lucinogenic and dangerous drugs.
91.9 mutilated or uncurrent silver coin re
Soliciting, vending, debt collection, ceived in accordance with Part 100 of
and distribution of handbills.
91.10 Photographs. this chapter, are not subject to charges
91.11 Dogs and other animals. for parting and refining, except as pro 91.12 Vehicular and pedestrian traffic. vided in § 90.5.
91.13 Weapons and explosives.
91.14 Penalties and other law. $ 90.8 Settlement for transactions conducted.
AUTHORITY: The provisions of this part 91
issued under 5 U.S.C. 301, by delegation from (a) Advance settlement. When the the Administrator of General Services, 35 approximate fineness of bullion contain F.R. 14426, and Treasury Department Order ing 5,000 or more ounces of silver may
177–25 (Revision 1), 35 F.R. 15312. be readily determined, settlement of 90 SOURCE: The provisions of this part 91 appercent of the value may be made at the pear at 34 F.R. 503, Jan. 14, 1969, unless discretion of the superintendent or of
otherwise noted. ficer in charge. If the fineness is closely $91.1 Authority. determined by assay, and the bullion is The regulations in this part governing awaiting remelting and reassay for exact
conduct in and on the Bureau of the determination, settlement of 98 percent
Mint buildings and grounds located as of the value may be made. Other ad- follows: U.S. Mint, Colfax and Delaware vances may be authorized by the Secre- Streets. Denver, CO: U.S. Bullion Detary of the Treasury. In any case of an pository, Fort Knox, KY; U.S. Assay Ofadvance the depositor must give a writ- fice, 32 Old Slip, New York, NY; U.S. ten guaranty that the value of the Mint, 16th and Spring Garden Streets,