Olympic Coin Act of 1982

Title I: Section 235 Amendments - Amends the National Housing Act to extend from March 31 to September 30, 1982, the authority of the Secretary of Housing and Urban Development to enter into new contracts to provide periodic mortgage assistance payments to assist lower income families in acquiring home ownership or membership in a cooperative housing association.

Declares that a commitment to provide such assistance which is in effect on March 31, 1982, shall remain available for a firm commitment until: (1) May 1, 1982, if such commitment was issued before October 1, 1981; or (2) June 1, 1982 (July 15, 1982, for condominium assistance) if such commitment was issued on or after October 1, 1981. Gives an office of the Department of Housing and Urban Development until June 1, 1982, to make new commitments for authority not subject to a firm commitment by the May 1st deadline. Requires the Secretary to reallocate any authority not subject to a firm commitment by June 1, 1982, among the States on the basis of: (1) population; (2) housing starts since 1978; and (3) each State's ability to use such authority expeditiously. Requires another reallocation of any of such authority not firmly committed as of August 1, 1982.

Title II: Olympic Coins - Olympic Coin Act of 1982 - Declares the purposes of this title to be: (1) to provide for the minting of coins to commemorate the 1984 Los Angeles Olympic Games; and (2) to help finance those games without the use of tax revenues.

Directs the Secretary of the Treasury to mint: (1) not more than 25,000,000 copper-nickel alloy coins with a face value of one dollar; (2) not more than 15,000,000 silver coins with a face value of ten dollars; (3) not more than 1,000,000 gold coins with a face value of fifty dollars; and (4) not more than 1,000,000 gold coins with a face value of one hundred dollars.

Specifies the size and weight of such coins. Specifies that the designs of such coins shall be determined by the Secretary in consultation with the Los Angeles Olympic Organizing Committee. Sets certain minting specifications for such coins. Authorizes the Secretary to reduce the number of designs for each series of coins under specified conditions. Requires that the aggregate face value of all such coins shall be no more than $325,000,000.

Requires the Los Angeles Olympic Organizing Committee to solicit bids from marketing organizations for an exclusive worldwide marketing agreement. Sets forth the criteria to be used for the selection of such marketing organization. Prohibits the Secretary from implementing the provisions of this title unless the marketing selection process was conducted in accordance with such criteria.

Authorizes the Secretary to enter into an agreement with the Los Angeles Olympic Organizing Committee which shall provide for the implementation of the purposes of this title. Authorizes the Secretary to terminate such agreement under specified conditions.

Directs the Secretary to furnish such coins to the Los Angeles Olympic Organizing Committee at a price agreed to pursuant to such implementation agreement. Provides that all coins minted shall be delivered to the Los Angeles Olympic Organiziang Committee for distribution and sale to the public in accordance with the terms of the implementation agreement. Sets the delivery date for each series of coins.

Provides that all proceeds received by the Los Angeles Olympic Organizing Committee from the commercial sale of such coins shall be used for the purpose of staging and promoting the 1984 Los Angeles Olympic Games and assisting the U.S. Olympic Committee and amateur athletics.

Provides that all coins authorized by this title shall be legal tender. Directs that no coins shall be minted pursuant to this title after December 31, 1984.

Requires the Secretary to submit quarterly reports to the Congress concerning the sale of such coins.

Authorizes the Comptroller General of the United States to examine any records of the Los Angeles Olympic Organizing Committee, the U.S. Olympic Committee, or any organization which markets or distributes the coins, which relate to the use of the coins or the proceeds from the coin sales.

Title III: Gold Medallions - Amends the American Arts Gold Medallion Act to require the Secretary to provide for bulk sales of gold medallions to the general public through dealers.