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Electronic Code of Federal Regulations
Title 41: Public Contracts and Property Management
(a) Gold will be sold in accordance with this section and part 102-38 of the Federal Management Regulation.
(b) Sales of gold shall be processed to—
(1) Use the sealed bid method of sale;
(2) Require a 20 percent bid deposit;
(3) Certify all forms of bid deposit and payments; and
(4) Include in the invitation for bids only gold and such other precious and semiprecious materials as may be available for sale at that time.
(c) Each agency generating scrap gold and also having a continuing need for fine gold may arrange for the acceptance of scrap gold for fine gold with a private contractor or the Defense Logistics Agency.