[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 10170 Introduced in House (IH)]
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118th CONGRESS
2d Session
H. R. 10170
To require the Secretary of the Treasury to mint coins in commemoration
of the semiquincentennial anniversary of the establishment of the
United States.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
November 19, 2024
Ms. Malliotakis introduced the following bill; which was referred to
the Committee on Financial Services
_______________________________________________________________________
A BILL
To require the Secretary of the Treasury to mint coins in commemoration
of the semiquincentennial anniversary of the establishment of the
United States.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Semiquincentennial Commemorative
Coin Act''.
SEC. 2. FINDINGS.
The Congress finds the following:
(1) July 4, 1776, was the date on which the unanimous
declaration of the thirteen United States of America was
passed, declaring the Nation as independent.
(2) July 4, 2026, will mark the 250th anniversary of us
declaring our independence.
(3) It is common practice to celebrate moments such as this
in the history of our country through the minting of a
commemorative coin.
SEC. 3. COIN SPECIFICATIONS.
(a) Denominations.--The Secretary of the Treasury (hereafter in
this Act referred to as the ``Secretary'') shall mint and issue the
following coins in commemoration of the semiquincentennial anniversary
of the establishment of the United States:
(1) $25.00 gold coins.--Not more than 100,000 $25.00 coins,
which shall--
(A) weigh 8.359 grams;
(B) have a diameter of 0.850 inches; and
(C) contain 90 percent gold and 10 percent alloy.
(2) $2.50 silver coins.--Not more than 500,000 $2.50 coins,
which shall--
(A) weigh 26.73 grams;
(B) have a diameter of 1.500 inches; and
(C) contain not less than 90 percent silver.
(3) 25-cent clad coins.--Not more than 750,000 quarter
dollar coins, which shall--
(A) weigh 5.67 grams;
(B) have a diameter of 0.955 inches; and
(C) be minted to the specifications for quarter
dollar coins, contained in section 5112(b) of title 31,
United States Code.
(4) Proof silver $2.50 coins.--The Secretary shall mint and
issue not more than 100,000 proof silver $2.50 coins, each of
which shall--
(A) weigh 5 ounces;
(B) have a diameter of 3 inches; and
(C) contain .999 fine silver.
(b) Legal Tender.--The coins minted under this Act shall be legal
tender, as provided in section 5103 of title 31, United States Code.
(c) Numismatic Items.--For purposes of sections 5134 and 5136 of
title 31, United States Code, all coins minted under this Act shall be
considered to be numismatic items.
(d) Mintage Limit Exception.--If the Secretary determines, based on
independent, market based research conducted by the designated
recipient organization identified in section 7(b) that the mintage
levels described under this subsection are not adequate to meet public
demand, the Secretary may increase the mintage levels as the Secretary
determines is necessary to meet public demand.
SEC. 4. DESIGNS OF COINS.
(a) Design Requirements.--
(1) In general.--The designs of the coins minted under this
Act shall be emblematic of the semiquincentennial anniversary
of the establishment of the United States of America and
celebrate 250 years of our Nation.
(2) Designation and inscriptions.--On each coin minted
under this Act, there shall be--
(A) a designation of the value of the coin;
(B) an inscription of the years ``1776-2026''; and
(C) inscriptions of the words ``Liberty'', ``In God
We Trust'', ``United States of America'', and ``E
Pluribus Unum''.
(b) Selection.--The designs for the coins minted under this Act
shall be--
(1) selected by the Secretary, after consultation with the
Semiquincentennial Commission, the America 250 Foundation, and
the Commission of Fine Arts; and
(2) reviewed by the Citizens Coinage Advisory Committee.
SEC. 5. ISSUANCE OF COINS.
(a) Quality of Coins.--Coins minted under this Act shall be issued
in uncirculated and proof qualities.
(b) Mint Facilities.--Only 1 facility of the United States Mint may
be used to strike any particular quality of the coins minted under this
Act.
(c) Period for Issuance.--The Secretary may issue coins under this
Act only during the period beginning on January 1, 2026, and ending on
December 31, 2026.
SEC. 6. SALE OF COINS.
(a) Sale Price.--The coins issued under this Act shall be sold by
the Secretary at a price equal to the sum of--
(1) the face value of the coins;
(2) the surcharge provided in section 7(a) with respect to
such coins; and
(3) the cost of designing and issuing the coins (including
labor, materials, dies, use of machinery, overhead expenses,
marketing, and shipping).
(b) Bulk Sales.--The Secretary shall make bulk sales of the coins
issued under this Act at a reasonable discount.
(c) Prepaid Orders.--
(1) In general.--The Secretary shall accept prepaid orders
for the coins minted under this Act before the issuance of such
coins.
(2) Discount.--Sale prices with respect to prepaid orders
under paragraph (1) shall be at a reasonable discount.
SEC. 7. SURCHARGES.
(a) In General.--All sales of coins issued under this Act shall
include a surcharge as follows:
(1) A surcharge of $35 per coin for the gold coins.
(2) A surcharge of $10 per coin for the silver coins.
(3) A surcharge of $5 per coin for the quarter dollar
coins.
(4) A surcharge of $50 per coin for the $2.50 5 ounce proof
silver coins.
(b) Distribution.--Subject to section 5134(f) of title 31, United
States Code, all surcharges received by the Secretary from the sale of
coins issued under this Act shall be paid to the America 250 Foundation
to fund the restoration, rehabilitation, and interpretation of units of
America's National Park System and its related areas, as a legacy of
the United States Semiquincentennial commemoration.
(c) Audits.--The America 250 Foundation shall be subject to the
audit requirements of section 5134(f)(2) of title 31, United States
Code, with regard to the amounts received under subsection (b).
(d) Limitation.--Notwithstanding subsection (a), no surcharge may
be included with respect to the issuance under this Act of any coin
during a calendar year if, as of the time of such issuance, the
issuance of such coin would result in the number of commemorative coin
programs issued during such year to exceed the annual 2 commemorative
coin program issuance limitation under section 5112(m)(1) of title 31,
United States Code. The Secretary of the Treasury may issue guidance to
carry out this subsection.
SEC. 8. FINANCIAL ASSURANCES.
The Secretary shall take such actions as may be necessary to ensure
that--
(1) minting and issuing coins under this Act will not
result in any net cost to the United States Government; and
(2) no funds, including applicable surcharges, shall be
disbursed to any recipient designated in section 7(b) until the
total cost of designing and issuing all of the coins authorized
by this Act (including labor, materials, dies, use of
machinery, overhead expenses, marketing, and shipping) is
recovered by the United States Treasury, consistent with
sections 5112(m) and 5134(f) of title 31, United States Code.
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