B-183192,B-184556: Jun 24, 1976

PRIOR DECISIONS DENYING PROTESTS AGAINST SALE OF GOLD BY GENERAL SERVICES ADMINISTRATION ON BEHALF OF THE DEPARTMENT OF THE TREASURY ARE AFFIRMED SINCE IT IS CLEAR FROM LEGISLATIVE HISTORY OF SECTION 9 OF GOLD RESERVE ACT. THAT SECRETARY OF TREASURY IS AUTHORIZED TO SELL GOLD FOR REASONS OTHER THAN ANTICIPATION OF INTEREST ON THE PUBLIC DEBT. WE DENIED THE PROTESTS ON THE GROUNDS THAT THE ACT'S ON...

B-183192,B-184556: Jun 24, 1976

An individual requested reconsideration of the rejection of his bids to purchase gold, challenging the agency's authority to sell gold at a price higher than that established by the Par Value Modification Act, as amended. Legislative history supports the power of the Secretary of the Treasury to sell gold for reasons other than to anticipate payment of interest on the public debt. The Secretary ac...