Jan 3, 2021 | coins, commemorative, legislative
The Weekly World Numismatic News will return next week.
The U.S. Mint is unique because it is the only mint in the world to be controlled by a legal process that requires the government to coordinate its policy. While other mints have requirements to clear specific actions with their parliament or legislative bodies, the U.S. Mint cannot do anything without an act of congress, including changing coin designs.
Congress’s micromanagement of the U.S. Mint is their interpretation of Article I Section 8 of the United States Constitution that says, “The Congress shall have Power… To coin Money, regulate the Value thereof, and of foreign Coin.” It does not say that congress must micromanage the U.S. Mint, nor does it say that congress has to be involved in the design.
Although commemorative coin programs require legislation, over the last 20 years, congress considers these bills as time-fillers when other business does not require their attention. Most of the commemorative coin bills rarely receive a hearing in their committees and usually pass by unanimous consent. These bills are handled to show the general public congress is doing something while brushing it off like dandruff on their shoulders.
With congress putting off difficult negotiations until after elections, the lame-duck session becomes the dumping ground for hard negotiations, usually about spending money and fluff. While congressional leaders negotiated the hard stuff, congress meets and passes bills that have little meaning to the general public. Most numismatic bills have little meaning for the general public. However, passing these bills gives them something to talk about.
Let’s look at the five bills that congress acted on in December:
- H.R. 1830: National Purple Heart Hall of Honor Commemorative Coin Act
Sponsor: Rep. Sean P. Maloney (D-NY)
LAST ACTION: Signed by the President and became Public Law No: 116-247. — Dec 22, 2020
Initially introduced in the House in March 2019, the bill creates a 2022 commemorative coin program to support the National Purple Heart Hall of Honor in New Windsor, New York. The bill was heard during the cleanup, and the lame-duck session finally passing on December 2. president signed the bill on December 22, 2020.
- H.R. 1923: Circulating Collectible Coin Redesign Act of 2020
Sponsor: Rep. Barbara Lee (D-CA)
Passed the House of Representatives — Sep 22, 2020
Passed the Senate with amendments — Dec 17, 2020
LAST ACTION: Message on Senate action sent to the House. — Dec 18, 2020
Initially, this bill was called the Women’s History and Nineteenth Amendment Centennial Quarter Dollar Coin Program Act. Somewhere along the line, congress changed the title. This bill will create a new quarters series to honor women from each state involved with suffrage and the Nineteenth Amendment. The bill was passed by the lame-duck Senate and awaits the president’s signature.
Even though this bill passed the House and Senate, the Senate amended the bill. The House has to agree with the changes, or the bill must go to a Conference Committee to work out the differences. Since the House has not acted on the amendment, the bill is likely to die when congress adjourns sine die on January 3, 2021.
Adjourning sine die, or without a date, is the final adjournment of congress. It will be the formal close of the 116th congress. The 117th congress gaveled in for their first day of business today, on January 3, 2021, as required by the U.S. Constitution.
- H.R. 4104: Negro Leagues Baseball Centennial Commemorative Coin Act
Sponsor: Rep. Emanuel Cleaver (D-MO)
LAST ACTION: Signed by the President and became Public Law No: 116-209. — Dec 4, 2020
This law authorizes a 2022 commemorative coin program to honor the centennial establishment of the Negro Leagues. The surcharges from the coin sales will benefit the Negro Leagues Baseball Museum in Kansas City.
- H.R. 6192: 1921 Silver Dollar Coin Anniversary Act
Sponsor: Rep. Andy Barr (R-KY)
Passed the House of Representatives — Sep 22, 2020
Passed the Senate with amendments — Dec 17, 2020
LAST ACTION: Presented to President. — Dec 24, 2020
The bill that has been all over the numismatic media will allow the U.S. Mint to strike 2021 Morgan and Peace dollars. Congress sent the bill to the president on December 24, 2020. It is waiting for his signature. Constitutionally, he has ten days to act on the bill. Since these are calendar days, January 2, 2021, is the tenth day.
If congress was in session on January 2, the bill becomes law without the president’s signature. If congress adjourned sine die, then the bill is the victim of a pocket veto. There is an indication that congress is still in session discussing updates to the recent COVID-19 stimulus package.
- H.R. 7995: Coin Metal Modification Authorization and Cost Savings Act of 2020
Sponsor: Rep. Mark E. Amodei (R-NV)
Passed the House of Representatives with amendments — Dec 2, 2020
LAST ACTION: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Dec 3, 2020
The House rushed to pass this bill because it allows them to look like they did something. The Senate did not consider this bill and will allow it to die when congress adjourns. It is a bad bill and should die with the end of this congress.
When the 116th Congress adjourns for the final time, any legislation not passed will be considered dead. The slate is wiped clean, and the 117th Congress starts anew. It could be something to look forward to in 2021!
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Dec 22, 2020 | legislative
As expected, the lame-duck Congress is well on its way to passing numismatic-related legislation on its way out the door. While the four leaders and their representatives negotiate other business, the rest of the members kept themselves busy doing the usual end-of-session clean up work. Here is a quick update on December’s actions:
- H.R. 4104: Negro Leagues Baseball Centennial Commemorative Coin Act
LAST ACTION: Signed by President. Became Public Law No: 116-209. — Dec 4, 2020
- H.R. 1830: National Purple Heart Hall of Honor Commemorative Coin Act
LAST ACTION: Presented to President. — Dec 11, 2020 (Not signed, yet)
- H.R. 1923: Circulating Collectible Coin Redesign Act of 2020
(Women’s History and Nineteenth Amendment Centennial Quarter Dollar Coin Program Act)
PASSED THE HOUSE OF REPRESENTATIVES — Sep 22, 2020
PASSED THE SENATE with an amendment — Dec 17, 2020
LAST ACTION: Message on Senate action sent to the House. — Dec 18, 2020
- H.R. 6192: 1921 Silver Dollar Coin Anniversary Act
PASSED THE HOUSE OF REPRESENTATIVES — Sep 22, 2020
PASSED THE SENATE with an amendment — Dec 17, 2020
LAST ACTION: Message on Senate action sent to the House. — Dec 18, 2020
- H.R. 7995: Coin Metal Modification Authorization and Cost Savings Act of 2020
PASSED THE HOUSE OF REPRESENTATIVES — Dec 2, 2020
LAST ACTION: Received in the Senate and assigned to committee — Dec 3, 2020
H.R. 1923 was passed in the Senate with an amendment that prevents the U.S. Mint from selling the coins at a loss. H.R. 6192 saw the Senate replace almost all of the wording rather than making small tweaks in order to fix what amounts to clerical errors. Even though both amendments are technical changes and do not effect their purpose, the bill has to be returned to the House of Representatives for approval. If the House agrees with the Senate’s changes, then they will pass the bills and send them to the President for his signature. If not, the law requires that the changes be negotiated by a Conference Committee consisting of members from both chambers.
It is unlikely that a Conference Committee is necessary for these bills. Either the House will pass them by unanimous consent or they will die at the end of the session. The thought of another circulating quarters program is not exciting (H.R. 1923) but there are many numismatists who would like a 2021 Morgan and Peace Dollars.
As an interesting idea, if H.R. 6192 passes and the U.S. Mint strikes 2021 Morgan dollars, instead of a privy mark to celebrate the Carson City Mint, how about a counterstrike? Have a “CC” counterstruck on the eagle’s chest similar to the “EB” counterstrike on the Brasher Doubloon? That would be something different.
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Dec 1, 2020 | coins, commemorative, legislative
As part of the Lame Duck session, when Congress attempts to look busy while leadership negotiates or stalls negotiations of spending bills, it is time to pass commemorative coin legislation.
First up is H.R. 1830, the National Purple Heart Hall of Honor Commemorative Coin Act. The bill will create a gold, silver, and clad half-dollar program in 2021 to honor the National Purple Heart Hall of Honor in New Windsor, New York. The bill passed the Senate with an amendment allowing the U.S. Mint to strike the coin anywhere if the U.S. Mint cannot exclusively strike the coins at the West Point Mint. The House has to agree with the amendment before being sent to the president for his signature.
H.R. 1830: National Purple Heart Hall of Honor Commemorative Coin Act
Summary: (Sec. 3) This bill directs the Department of the Treasury to mint and issue $5 gold coins, $1 silver coins, and half-dollar clad coins emblematic of the National Purple Heart Hall of Honor. (Sec. 5) The bill limits the issuance of such coins to the one-year period beginning on January 1, 2021. (Sec. 7) The bill prescribes surcharges for coin sales, which shall be paid to the National Purple Heart Hall of Honor, Inc., to support the mission of such organization, including capital improvements to the National Purple Heart Hall of Honor facilities.
Referred to the House Committee on Financial Services. — Mar 18, 2019
Introduced in House — Mar 18, 2019
Mr. San Nicolas moved to suspend the rules and pass the bill, as amended. — Sep 19, 2019
Considered under suspension of the rules. — Sep 19, 2019
DEBATE – The House proceeded with forty minutes of debate on H.R. 1830. — Sep 19, 2019
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. — Sep 19, 2019
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. — Sep 19, 2019
Motion to reconsider laid on the table Agreed to without objection. — Sep 19, 2019
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Sep 23, 2019
Passed Senate with an amendment by Unanimous Consent. — Nov 16, 2020
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent. — Nov 16, 2020
Measure laid before Senate by unanimous consent. — Nov 16, 2020
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. — Nov 16, 2020
Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S6694) — Nov 16, 2020
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text of amendment in the nature of a substitute: CR S6694) — Nov 16, 2020
Message on Senate action sent to the House. — Nov 17, 2020
The Senate found fewer issues with H.R. 4104, the Negro Leagues Baseball Centennial Commemorative Coin Act. The bill will create a gold, silver, and clad half-dollar program in 2022 to honor the Centennial of the Negro Leagues (2020) and raise funds for the Negro Leagues Baseball Museum in Kansas City, Missouri. The bill passed the Senate by unanimous consent and has been sent to the president for his signature.
H.R. 4104: Negro Leagues Baseball Centennial Commemorative Coin Act
Summary: This bill directs the Department of the Treasury to mint and issue up to 50,000 $5 gold coins, 400,000 $1 silver coins, and 750,000 half-dollar clad coins in commemoration of the 100th anniversary of the establishment of the Negro National League, a professional baseball league that was formed in response to African-American players being banned from baseball’s major leagues. The design of the coins shall be emblematic of the Negro Leagues Baseball Museum and its mission to promote tolerance, diversity, and inclusion. All surcharges from sales of these coins shall be paid to the Negro Leagues Baseball Museum to fund educational and outreach programs and exhibits.
Referred to the House Committee on Financial Services. — Jul 30, 2019
Introduced in House — Jul 30, 2019
Committee on Financial Services discharged. — Sep 22, 2020
Mr. Cleaver asked unanimous consent to discharge from committee and consider. — Sep 22, 2020
Considered by unanimous consent. — Sep 22, 2020
On passage Passed without objection. — Sep 22, 2020
Passed/agreed to in House: On passage Passed without objection. — Sep 22, 2020
On passage Passed without objection. (text of amendment in the nature of a substitute: CR H4710) — Sep 22, 2020
Motion to reconsider laid on the table Agreed to without objection. — Sep 22, 2020
Received in the Senate. — Sep 23, 2020
Received in the Senate, read twice. — Sep 23, 2020
Passed Senate without amendment by Unanimous Consent. — Nov 16, 2020
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent. — Nov 16, 2020
Message on Senate action sent to the House. — Nov 17, 2020
Presented to President. — Nov 24, 2020
A source reported that H.R. 7995, the Coin Metal Modification Authorization and Cost Savings Act of 2020 has growing interest in both chambers. H.R. 7995 brings up interesting questions regarding policies and what Congress is requesting. More on this another time.
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Nov 18, 2020 | coins, commemorative, legislative, news
Two commemorative coin bills introduced and passed in the House of Representatives were passed by the Senate this week. Both bills will create commemorative coin programs for 2022.
H.R. 1830: National Purple Heart Hall of Honor Commemorative Coin Act
H.R. 1830 passed the Senate by unanimous consent. The resulting law will create gold $5, silver dollar, and clad half-dollar commemorative coins in honor of the National Purple Heart Hall of Honor in New Windsor, NY. Surcharges will be paid “to the National Purple Heart Hall of Honor, Inc., to support the mission of the National Purple Heart Hall of Honor, Inc., including capital improvements to the National Purple Heart Hall of Honor facilities.”
It would have been interesting to require this coin to be in the shape of a heart. The obverse design could be similar to that of the Purple Heart medal. The reverse could be about the Hall of Honor or the sacrifice made by those awarded the Purple Heart.
I will likely purchase this commemorative coin in honor of my grandfather, a recipient of the Purple Heart for injuries sustained in Europe during World War I.
H. R. 4104: Negro Leagues Baseball Centennial Commemorative Coin Act
H. R. 4104 passed the Senate by unanimous consent will create gold $5, silver dollar, and clad half-dollar commemorative coins in honor of the centennial of the Negro Leagues. Although the centennial would be in 2020, the first available commemorative slot will be in 2022. Surcharges will be paid “to the Negro Leagues Baseball Museum for educational and outreach programs and exhibits.” The Negro Leagues Baseball Museum is located in Kansas City, MO.
Although the law will not require these coins to be curved, there is an opportunity for judicious use of color and selective highlights, such as those used for the enhanced strikes.
Both bills will become law when signed by the president.
Now that Congress has begun its Lame Duck session stay tuned for more numismatic bills to pass by unanimous consent.
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Nov 2, 2020 | coins, legislative
Although many as said a lot about what Congress is doing, numismatically, there is nothing to report. It is typical for Congress to adjourn during October to allow members to campaign. If Congress takes up any business, they believe that it is beneficial to their campaign. Numismatic-related legislation does not make for compelling campaign ads.
The slowdown in paperwork for the Government Printing Office, who is responsible for publishing Congress’s documentation, uses the time to catch up. Several bills whose text was not posted to the Library of Congress’s website are available for review. As a result, the updates from October are adjusting titles and summaries based on the publishing of the bills’ text.
The 2020 Lame Duck session will be interesting. I do not expect any numismatic legislation to be considered until clean-up sessions in December.
H.R. 8242: National Women’s Hall of Fame Commemorative Coin Act of 2020
Summary: This bill directs the Department of the Treasury to mint and issue $5 gold coins, $1 silver coins, half-dollar clad coins, and proof silver $1 coins in recognition and celebration of the National Women’s Hall of Fame in Seneca Falls, New York. All minted coins shall include a specified surcharge, which shall be paid to the National Women’s Hall of Fame Foundation to establish an endowment fund to provide for the long-term financing of the hall’s operations.
Referred to the House Committee on Financial Services. — Sep 14, 2020
Introduced in House — Sep 14, 2020
(Updated Bill Summary) — Oct 17, 2020
S. 4663: Coin Metal Modification Authorization and Cost Savings Act of 2020
Summary: This bill authorizes the United States Mint to modify the metallic composition of circulating coins (including by prescribing reasonable manufacturing tolerances with respect to those coins) if a study and analysis conducted by the Mint indicates that the modification will
- reduce costs incurred by.taxpayers;
- be seamless, which shall be determined by verifying that the coins will work interchangeably in most coin acceptors using electromagnetic signature technology; and
- have as minimal an adverse impact as possible on the public and stakeholders.
The Mint must notify Congress before making the modification and provide a justification for the modification.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Sep 23, 2020
Introduced in Senate — Sep 23, 2020
(Updated Bill Title) — Oct 17, 2020
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Oct 12, 2020 | coins, legislative
At the beginning of every month, I try to summarize the numismatic-related legislation from the previous month. A few months were skipped because they were boring. September was not boring. It was overwhelming because the bills that showed progress are very significant.
H.R. 1923: Circulating Collectible Coin Redesign Act of 2020
Summary:
Women’s History and Nineteenth Amendment Centennial Quarter Dollar Coin Program Act This bill requires the Department of the Treasury to mint and issue quarter-dollar coins in commemoration of the ratification of the Nineteenth Amendment granting women the right to vote. The design on the reverse of each coin shall be emblematic of the accomplishments and contributions of a prominent woman who was a resident of a state, the District of Columbia, or a U.S. territory.Such coins shall be issued in alphabetical order of the area represented, starting with the state of Alabama.Treasury shall
- initiate a program to promote collection of the coins and recognition of their subjects, and
- strike and make available for sale silver bullion coins that are the exact duplicates of the coins.
Referred to the House Committee on Financial Services. — Mar 27, 2019
Introduced in House — Mar 27, 2019
Committee on Financial Services discharged. — Sep 22, 2020
Mr. Cleaver asked unanimous consent to discharge from committee and consider. — Sep 22, 2020
Considered by unanimous consent. — Sep 22, 2020
On passage Passed without objection. — Sep 22, 2020
Passed/agreed to in House: On passage Passed without objection. — Sep 22, 2020
On passage Passed without objection. (text of amendment in the nature of a substitute: CR H4707-4708) — Sep 22, 2020
Motion to reconsider laid on the table Agreed to without objection. — Sep 22, 2020
The title of the measure was amended. Agreed to without objection. — Sep 22, 2020
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Sep 23, 2020
Starting with H.R. 1923, Circulating Collectible Coin Redesign Act of 2020, it became a catchall bill to make many changes to the U.S. Mint’s circulating coin programs. Initially, the bill began as a proposal to create a series of circulating quarters honoring Women’s History and the Nineteenth Amendment. Since it was a convenient vehicle, other series ideas were added.
If the bill passes the Senate, the following will change your pocket change:
Quarters
- 2022-2025: Accomplishment of American Women, 5 per year
- 2026: U.S. Semiquincentennial, up to 5
- 2027-2030: Sports Played by American Youth, 5 per year
Half-Dollars
- 2027-2030: Paralympic Sports
Dollars
- 2026: U.S. Semiquincentennial
Medals
- 2027-2030: Accompanying Sports Medals
- 2028: Manufacture medals for the 2028 Olympic Games in Los Angeles
Silver Bullion Coins
- 5-ounce coins based on the quarter and half-dollar designs
- Can produce “ fractional” silver bullion coins
George Washington will continue to appear on the obverse but “be designed in a manner, such as with incused inscriptions, so as to distinguish it from the obverse design used during the previous quarters program.” Does this mean that the John Flannagan design and its many permutations can be retired for something a little more attractive? Replacing the Flannagan design for the Laura Gardin Fraser design would be appropriate.
The bill includes similar language for the image of John F. Kennedy on the 2026 Semiquincentennial half-dollar.
H.R. 4104: Negro Leagues Baseball Centennial Commemorative Coin Act
Summary: This bill directs the Department of the Treasury to mint and issue up to 50,000 $5 gold coins, 400,000 $1 silver coins, and 750,000 half-dollar clad coins in commemoration of the 100th anniversary of the establishment of the Negro National League, a professional baseball league that was formed in response to African-American players being banned from baseball’s major leagues.The design of the coins shall be emblematic of the Negro Leagues Baseball Museum and its mission to promote tolerance, diversity, and inclusion.All surcharges from sales of these coins shall be paid to the Negro Leagues Baseball Museum to fund educational and outreach programs and exhibits.
Referred to the House Committee on Financial Services. — Jul 30, 2019
Introduced in House — Jul 30, 2019
Committee on Financial Services discharged. — Sep 22, 2020
Committee on Financial Services discharged. — Sep 22, 2020
Mr. Cleaver asked unanimous consent to discharge from committee and consider. — Sep 22, 2020
Considered by unanimous consent. — Sep 22, 2020
On passage Passed without objection. — Sep 22, 2020
Passed/agreed to in House: On passage Passed without objection. — Sep 22, 2020
On passage Passed without objection. (text of amendment in the nature of a substitute: CR H4710) — Sep 22, 2020
Motion to reconsider laid on the table Agreed to without objection. — Sep 22, 2020
Received in the Senate. — Sep 23, 2020
H.R. 4104, Negro Leagues Baseball Centennial Commemorative Coin Act, is a typically formatted commemorative coin program for 2022 to honor the Negro Leagues’ centennial. Surcharges will be paid to the Negro Leagues Baseball Museum.
H.R. 6192: 1921 Silver Dollar Coin Anniversary Act
Introduced in House — Mar 11, 2020
Referred to the House Committee on Financial Services. — Mar 11, 2020
Committee on Financial Services discharged. — Sep 22, 2020
Committee on Financial Services discharged. — Sep 22, 2020
Mr. Cleaver asked unanimous consent to discharge from committee and consider. — Sep 22, 2020
Considered by unanimous consent. — Sep 22, 2020
On passage Passed without objection. — Sep 22, 2020
Passed/agreed to in House: On passage Passed without objection. — Sep 22, 2020
On passage Passed without objection. (text of amendment in the nature of a substitute: CR H4711-4712) — Sep 22, 2020
Motion to reconsider laid on the table Agreed to without objection. — Sep 22, 2020
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Sep 23, 2020
H.R. 6192, 1921 Silver Dollar Coin Anniversary Act, will allow the U.S. Mint to produce a Morgan and Peace Dollar in 2021. These coins may contain more than the original 90-percent silver of the original.
The rest of the bills were introduced in September. There is not much to talk about until something happens, which is not likely until the lame-duck session.
H.R. 8242: National Women’s Hall of Fame Commemorative Coin Act of 2020
Referred to the House Committee on Financial Services. — Sep 14, 2020
Introduced in House — Sep 14, 2020
S. 4663: A bill to amend title 31, United States Code, to save Federal funds by authorizing changes to the composition of circulating coins, and for other purposes.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Sep 23, 2020
Introduced in Senate — Sep 23, 2020
S. 4730: A bill to amend title 31, United States Code, to require the Secretary of the Treasury to mint and issue quarter dollars in commemoration of the Nineteenth Amendment, and for other purposes.
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Sep 24, 2020
Introduced in Senate — Sep 24, 2020
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Jul 13, 2020 | coins, legislative
There is a meme going around the Interwebs that shows Doc Brown (Christopher Lloyd) getting out of his modified DeLorean with Marty McFly (Michael J. Fox) standing there with Brown telling Marty not to set the time machine to 2020. If you do not understand the meme, I recommend you stream Back to the Future on your favorite streaming platform. It is a classic movie!
We are 13 days into July, and I realized that June was over, and the Legislative Update was due. Then again, we discussed the only legislation that Congres introduced in June. Otherwise, there is nothing to report on the legislation front.
S. 4006: Coin Metal Modification Authorization and Cost Savings Act of 2020
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Jun 18, 2020
Introduced in Senate — Jun 18, 2020
Jun 29, 2020 | base metals, coins, legislative, news
Somewhere along the line, logic and reality have not reconciled the meme that cash is dead because everyone uses credit cards. Although there has been an increase in credit card usage because of the COVID-19 pandemic and quarantine orders, banks and retail outlets have been reporting a shortage of cash.
For the most part, the U.S. Mint coin manufacturing processes have been fully operational during the pandemic except closing West Point briefly. The coin factory is mostly automated and does not require many workers. The U.S. Mint reports that the offices that include in the engravers are working from home, but the manufacturing continues.
But reports from the St. Louis Federal Reserve noted that even with the reduction in foot traffic, the rate of people paying with cash remained steady. The San Francisco Federal Reserve noted that the rise in credit card use coincides with the increase in online shopping.
The U.S. Mint is not the cause of supply chain problems. The problems are within the Federal Reserve and how they operate their coin storage. When Federal Reserve Chairman Jerome Powell discussed the coin shortage, he also said that the problems magnified when the quarantine impacted the logistics companies that move the coins from place to place.
Like many things, congress took the wrong message from Powell and prompted what may be a necessary action but for the wrong reasons. Sens. Mike Enzi (R-WY), and Maggie Hassan (D-NH) introduced the Coin Metal Modification Authorization and Cost Savings Act (S. 4006) to allow the U.S. Mint to change the metal used in your change.
While the senators are patting themselves on the back for looking like they are doing something, changing coning metals will not help. Although the U.S. Mint has studied alternative metals, several steps will take many years to complete. Canada and the United Kingdom have to change coins and coining metals in recent years. Both countries made the transition in four years and continued to have problems.
Another lesson learned is that to help Canada and the U.K. to make the transition, their respective central banks demonetized the old coins. The United States does not demonetize its coinage. Even with significant media coverage, the Bank of England reports over £1 million of demonetized coins in the public’s hands.
When the United States transitioned from silver to base metals, a six-year transition did not go as planned. We learned later that the U.S. Mint continued to produce silver coins in 1965 and 1966 with 1964 dates to ease market pressures.
Changes to coining metals may be necessary. Over the last ten years, the U.S. Mint has seen seignorage reduced as the price of copper and nickel rise. But to tie the change in metals to the pandemic is a very congressional thing to do.
And now the news…
June 22, 2020
This year, a new coin act might be the making to bring back the Peace and Morgan Silver Dollars in 2021. This will honor the centennial of the transition from the Morgan to the Peace Silver Dollar. However, in the United States, only two commemorative coin programs can be active per year – and Congress has already passed the Law Enforcement Commemorative Coin Act and the Christa McAuliffe Commemorative Coin Act.
→ Read more at
valuewalk.com
June 24, 2020
Wayne Fournier was sitting in a town meeting when he had his big idea. As the mayor of Tenino, Washington (population: 1,884), he’d watched the pandemic rake local businesses.
→ Read more at
thehustle.co
June 26, 2020
Gold insider Edmund Moy is all in on gold coins as an investment with prices for the yellow metal on a strong upswing. And he shared with Yahoo Finance how he is protecting his investment. “So I keep a little bit.
→ Read more at
finance.yahoo.com
June 26, 2020
U.S. Senators Mike Enzi, R-Wyo., and Maggie Hassan, D-N.H., have introduced bipartisan legislation to allow the U.S. Mint to adjust the metal content of circulating coins in an effort to save taxpayer dollars.
→ Read more at
highlandcountypress.com
June 26, 2020
Dive Brief: • The National Grocers Association (NGA) along with five other retail industry groups have called on the federal government to take "rapid action" to address a national coin shortage, according to a press release.
→ Read more at
grocerydive.com
Jun 6, 2020 | coins, commemorative, legislative
Days keep blending together as we try to survive major crises in this country. With the justified outrage over the killing of George Floyd, reports are coming out that coronavirus deaths are beginning to rise. Since the protests are largely attended by young people, it will change the narrative that the virus is particularly deadly to those older and to those with pre-existing conditions. Then again, many people do not know they have a pre-existing condition until it is triggered by something else.
Frontline health care professionals and others are fighting the disease and, in some cases, injuries that occurred during the protests. To celebrate these essential workers Rep. Jack Bergman (R-MI) introduced a commemorative coin program in their honor. Although the bill was introduced, the text has yet to be published. All we know is the title as submitted. It might be nice to honor the frontline workers, the likelihood of this type of bill passing is not good given the current political climate.
Unless the current circumstances change, it is unlikely any numismatic-related legislation will be acted on before the end-of-session cleanup votes in December.
H.R. 6923: To require the Secretary of the Treasury to mint coins in commemoration of the health care professionals, first responders, scientists, researchers, all essential workers, and individuals who provided care and services during the coronavirus pandemic.
Referred to the House Committee on Financial Services. — May 19, 2020
Introduced in House — May 19, 2020
May 8, 2020 | celebration, coins, legislative
Although the calendar passed May the Fourth (be with you) and Cinco de Mayo, the days are running together that the one thing I forgot was the end of April. Days are blurring together to the point that I forgot that Thursday was senior day at some local stores. I do not mind the label of a senior citizen. It means that I survived to wear that moniker.
So that I can correct this senior moment, it is time to talk about the one numismatic-related bill introduced in the House of Representatives in April.
H.R. 6555: United States Semiquincentennial Quarter Series Act
Referred to the House Committee on Financial Services. — Apr 17, 2020
Introduced in House — Apr 17, 2020
The United States Semiquincentennial Quarter Series Act (H.R. 6555) would create a five quarters program to celebrate the U.S. Semiquincentennial (250 years) in 2026. If the bill passes, the U.S. Mint will “issue quarter dollars in 2026 with up to five different designs emblematic of the United States semiquincentennial. One of the quarter dollar designs must be emblematic of a woman’s or women’s contribution to the birth of the Nation or the Declaration of Independence or any other monumental moments in American History.”
According to the bill, the Secretary “may” mint “$1 coins with designs emblematic of the United States semiquincentennial.”
H.R. 6555 takes a different approach than the Bicentennial coinage. For the Bicentennial, the program lasted two years, 1975-1976. The coins were dated 1776-1976, and the reverse of the quarter, half-dollar, and dollar coins were redesigned. The previous designs returned in 1977.
The country is busy with other issues rather than being concerned with the nation’s semiquincentennial. But it is nice to think about a celebration than the worries we are going through today.
1976-S Silver Proof Bicentennial Autograph Set
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