Commemorative Coins: Background, January 27, 2021 Legislative Process, and Issues for Congress Jacob R. Straus Commemorative coins are produced by the U.S. Mint pursuant to an act of Congress and are Specialist on the Congress often proposed by Members of Congress as part of their representational duties. These coins are legal tender that celebrate and honor American people, places, events, and institutions. Overall, 155156 commemorative coins have been authorized since 1892. Since 1982, when Congress reinstituted the commemorative program, 9496 commemorative coins have been authorized. Since 1998, only two coins may be authorized for any given year. To date, Congress has authorized commemorative coins to be issued through 2021.

2022. The issuance of commemorative coins can be broadly divided into two eras: historical coins and modern coins. Historical Hist orical commemorative coins were those authorized between 1892 and 1954 and generally celebrated anniversaries, public events, or the construction of new memorials. These coins were sold by the government to the sponsor organization, which then resold the coins to the public at a higher price to earn money to support their mission.

In 1939, Congress stopped authorizing new coins because a glut of commemorative coins on the market had caused their value to decline, and the U.S. Treasury became concerned that so many coins might facilitate counterfeiting. These sentiments were echoed by President Dwight D. Eisenhower, who in 1954 vetoed legislation for a half-dollar honoring the tercentennial of New York City and remarked that "“large quantities [of coins] have remained unsold and have been returned to the mints for melting."” The historical era concluded with the minting of George Washington Carver and Booker T. Washington half-dollars between 1951 and 1954.

The modern commemorative coin era began in 1982, when Congress authorized coins to celebrate the 250^th250th anniversary of George Washington'’s birth. Between 1982 and 1997, prior to the Commemorative Coin Reform Act (CCRA) of 1996's ’s statutory limitation of two commemorative coins issued per year, 47 commemorative coinsc oins were authorized and minted. Between 1998 and 20192020, an additional 4345 coins were authorized and minted. Four additional coins have been authorized, two for 20202021 and two for 2021.

2022. Commemorative coin legislation generally has a specific format. Once a coin is authorized, it follows a specific process for design and minting. This process includes consultation and recommendations by the Citizens Coin Advisory Commission (CCAC) and the U.S. Commission of Fine Arts (CFA), pursuant to any statutory instructions, before the Secretary of the Treasury makes the final decision on a coin'’s design. Following the conclusion of a coin program, designated recipient organizations may receive surcharge payments, once the U.S. Mint has recouped all costs associated with producingpro ducing the coin.

Should Congress want to make changes to the commemorative coin process, several individual and institutional options might be available. The individual options include decisions made by Members of Congress as to which people, places, events, or institutions should be celebrated; which groups should receive potential surcharge payments; and any specific design requirements Congress might want to request or require. The institutional options could include House, Senate, or committee rules for the consideration of commemorative coin legislation, and whether the statutory maximum of two coins minted per year is too many or too few.

Commemorative coins are coins that are " Congressional Research Service link to page 5 link to page 5 link to page 6 link to page 7 link to page 7 link to page 10 link to page 10 link to page 10 link to page 11 link to page 12 link to page 13 link to page 13 link to page 14 link to page 14 link to page 15 link to page 16 link to page 16 link to page 18 link to page 19 link to page 19 link to page 20 link to page 23 link to page 23 link to page 23 link to page 24 link to page 25 link to page 25 link to page 25 link to page 26 link to page 27 link to page 28 link to page 29 link to page 17 link to page 18 link to page 20 link to page 28 link to page 7 Commemorative Coins: Background, Legislative Process, and Issues for Congress Contents Introduction ................................................................................................................... 1 Historical Commemorative Coins ................................................................................ 1 Modern Commemorative Coins ................................................................................... 2 Commemorative Coins, 1982-1997 ......................................................................... 3 Commemorative Coins, 1998-Present ...................................................................... 3 Authorizing Commemorative Coins ................................................................................... 6 Legislative Features ................................................................................................... 6 Findings.............................................................................................................. 6 Coin Specification ................................................................................................ 7 Design of Coins ................................................................................................... 8 Issuance of Coins ................................................................................................. 9 Sale of Coins ....................................................................................................... 9 Surcharges ........................................................................................................ 10 Financial Assurances........................................................................................... 10 Consideration of Legislation in Congress .................................................................... 11 Design of Coins ............................................................................................................ 12 Citizens Coinage Advisory Committee........................................................................ 12 U.S. Commission of Fine Arts ................................................................................... 14 U.S. Mint ............................................................................................................... 15 Commemorative Coin Timeline ................................................................................. 15 Disbursement of Surcharges ........................................................................................... 16 Issues for Congress ....................................................................................................... 19 Individual Considerations ......................................................................................... 19 Groups and Events Honored................................................................................. 19 Disbursement of Surcharges................................................................................. 20 Specification of Design Elements.......................................................................... 21 Institutional Considerations ....................................................................................... 21 Requirements for Legislative Consideration ........................................................... 21 Number of Coins Minted Per Year ........................................................................ 22 Coin Timelines................................................................................................... 23 Non-Fundraising Commemorative Coins ............................................................... 24 Concluding Observations ............................................................................................... 25 Figures Figure 1. Citizens Coinage Advisory Committee Design Elements........................................ 13 Figure 2. Examples of Commemorative Coin Designs ........................................................ 14 Figure 3. Commemorative Coin Process ........................................................................... 16 Figure 4. Proposed 2021 Morgan and Peace Dollar Designs................................................. 24 Tables Table 1. Completed Commemorative Coin Programs, 1998-2020 ........................................... 3 Congressional Research Service link to page 9 link to page 9 link to page 22 link to page 31 link to page 33 link to page 31 link to page 33 link to page 34 Commemorative Coins: Background, Legislative Process, and Issues for Congress Table 2. Authorized Current and Future Commemorative Coins, 2021-2024............................. 5 Table 3. Proposed Commemorative Coin Legislation, 116th Congress ...................................... 5 Table 4. Example Calculation of Commemorative Coin Surcharge Payments ......................... 18 Table A-1. Historical Commemorative Coins, 1892-1954 .................................................... 27 Table B-1. Commemorative Coins Prior to Annual Minting Limits, 1982-1997....................... 29 Appendixes Appendix A. Historical Commemorative Coins.................................................................. 27 Appendix B. Modern Commemorative Coins, 1982-1997.................................................... 29 Contacts Author Information ....................................................................................................... 30 Congressional Research Service link to page 31 Commemorative Coins: Background, Legislative Process, and Issues for Congress Introduction Commemorative coins are coins that are “produced with the primary intention of creating a special souvenir to be sold (at a premium above face value) to observe or memorialize an anniversary, special occasion, or other event."¹”1 Produced by the U.S. Mint pursuant to an act of Congress, these coins celebrate and honor American people, places, events, and institutions. Although they are considered legal tender, they are not minted for general circulation. Instead, they are designed to be collected and to help designated groups raise money to support group activities.²2 Commemorative coin legislation is often proposed by Members of Congress as part of their representational duties.

The first commemorative coin was authorized in 1892 for the World'’s Columbian Exposition in Chicago.³3 Issued as a silver half-dollar, the proceeds for the sale of the coin were used "“for the purpose of aiding in defraying the cost of completing in a suitable manner the work of preparation for inaugurating the World'’s Columbian Exposition."⁴

Beginning ”4 Beginning in 1892 and continuing to the present day—with a hiatus between 1954 and 1981—coins have been a part of the commemoration of people, places, events, and institutions. This report examines the origins, development, and current practices for commemorative coins, including the authorization process; the design of coins; and issues for congressional consideration, including the disbursement of surcharges, the number of coins minted per year, differences between the number of authorized coins and coins sold, and requirements for legislative legislative consideration in the House and Senate.

Historical Commemorative Coins

Since 1892, Congress has authorized 155156 new commemorative coins. Sixty of these coins were authorized between 1892 and 1954. During this period, most commemorative coins celebrated state anniversaries (e.g., Connecticut'’s tercentennial in 1935), expositions and event anniversaries (e.g., the Lexington-Concord Sesquicentennial in 1925 or the Louisiana Purchase Exposition in 1903), or helped support memorials (e.g., the Grant Memorial in 1922 or the Stone Mountain Memorial in 1925). During this time period, coins "“were sold to sponsoring organizations, which resold them to the public at higher prices as a means of fundraising."⁵”5 The authorization of new commemorative coins was "“discontinued by Congress in 1939, with the exception of three coins issued through 1954."⁶”6 For a list of historical commemorative coins authorized between 1892 and 1954, seesee Appendix A.

1 Q. David Bowers, A Guide Book of United States Commemorative Coins: History, Rarity, Values, Grading, Varieties (Atlanta, GA: Whitman Publishing Company, 2008), p. 1. 2 T ed Schwarz, A History of United States Coinage (San Diego, CA: A.S. Barnes & Company, Inc., 1980), pp. 319 -320. 3 27 Stat. 389, August 5, 1892. 4 Ibid. 5 U.S. Government Account ability Office, Commemorative Coins Could Be More Profitable, GAO/GGD-96-113, August 1996, p. 2, at http://www.gao.gov/products/GGD-96-113. In the historical time period, groups bought coins from the U.S. Mint at face value and then resold them at higher prices to raise money to support their activities. 6 U.S. Commission of Fine Arts, Civic Art: A Centennial History of the U.S. Commission of Fine Arts (Amherst, MA: University of Massachusetts Press, 2013), p. 366. [Hereinafter CFA, Civic Art.] T he coins issued after 1939 were the half-dollars for the Iowa Centennial, the Booker T . Washington Memorial, and for George Washington Carver. Congressional Research Service 1 Commemorative Coins: Background, Legislative Process, and Issues for Congress Between 1954 and 1981, Congress did not authorize any new commemorative coins. The moratorium on new commemorative coins was in part because public interest in the coins had waned and the Department of the Treasury was concerned that "“multiplicity of designs on United States coins would tend to create confusion among the public, and to facilitate counterfeiting."⁷”7 In his February 1954 veto statement to Congress on S. 2474 (83^rd83rd Congress), which would have authorized a 50-cent piece for the tercentennial of New York City, President Eisenhower cited a diminishing interest among the public for the collection of commemorative coins. President Eisenhower stated

I am further advised by the Treasury Department that in the past in many instances the public interest in these special coins has been so short-lived that their sales for the purposes intended have lagged with the result that large quantities have remained unsold and have been returned to the mints for melting.⁸

8 Modern Commemorative Coins

In 1982, Congress resumed the authorization of commemorative coins with the enactment of a bill bil to issue a commemorative half-dollar for George Washington's 250^th birthday.⁹’s 250th birthday.9 With the issuance of new commemorative coins, the "“range of subject matter expanded to include subjects such as women, historical events, and even buildings and landscapes."¹⁰ Additionally”10 Additional y, the concept of surcharges as a method to direct money to designated groups was introduced. The idea of a surcharge—a statutorily authorized "“dollar amount added to the price of each coin"¹¹”11—was not without controversy. "“These related surcharges became controversial with collectors, many of whom resented making involuntary donations when they bought coins. Today, the practice ... is ... the linchpin that has ignited most commemorative programs—as potential recipients of the surcharge launch ... lobbying campaigns in Congress."¹²

”12 Commemorative coins authorized during the modern period can be subdivided into coinsc oins minted between 1982 and 1997, and coins minted since 1998. In 1996, the Commemorative Coin Reform Act (CCRA) was enacted to (1) limit the maximum number of different coin programs minted per year;¹³13 (2) limit the maximum number of coins minted per commemorative coin program;¹⁴14 and (3) clarify the law with respect to the recovery of Mint expenses before surcharges are disbursed 7 U.S. Congress, Senate, The City of New York Tercentennial Commemorative Coin—Veto Message, 83rd Cong., 2nd sess., February 3, 1954, S.Doc. 94 (Washington: GPO, 1954), p. 1. 8 Ibid., p. 2. 9 P.L. 97-104, 95 Stat. 1491, December 23, 1981. 10 CFA, Civic Art, p. 480. 11 U.S. Congress, U.S. Congress, Senate Committee on Banking, Housing, and Urban Affairs, 2002 Winter Olympic Com m em orative Coin Act, report to accompany S. 2266, 106th Cong., 2nd sess., July 24, 2000, S.Rept. 106-355 (Washington: GPO, 2000), p. 2, fn5. 12 Bowers, United States Commemorative Coins, p. 15. 13 A commemorative coin program is the subject matter statutorily authorized to be depicted on a commemorative coin. Within each commemorative coin program, multiple denominations of coins might be authoriz ed. For example, P.L. 112-201 (§3, 126 Stat. 1480, December 4, 2012) authorized a commemorative coin program for Mark T wain. T he statute authorized the minting of both $5 gold coins and $1 silver coins. 14 For example, the Mark T wain commemorative coin program limited the number of coins that might be minted. P.L. 112-201, §3, required that the U.S. Mint issue “ not more than 100,000 $5 coins ... and not more than 350,000 $1 coins.” Congressional Research Service 2 link to page 33 link to page 7 link to page 8 Commemorative Coins: Background, Legislative Process, and Issues for Congress (3) clarify the law with respect to the recovery of Mint expenses before surcharges are disbursed and conditions of payment of surcharges to recipient groups.¹⁵15 The CCRA restrictions began in 1998.

1998. Commemorative Coins, 1982-1997

Between 1982 and 1997, Congress authorized 47 commemorative coins. In several cases, multiple coins were authorized to recognize specific events, including the 1984 Summer Olympics in Los Angeles and the 1996 Summer Olympics in Atlanta. SeeSee Appendix B for a list of commemorative coins authorized by Congress prior to the two-per-year limit imposed by the CCRA.

CCRA. Commemorative Coins, 1998-Present

As noted above, the CCRA limited the U.S. Mint to issuing two coins per year, beginning in 1998.¹⁶ 1998.16 This action was taken in response to the proliferation of commemorative coins authorized since the program was restarted in 1982. Between 1982 and 1997, as many as six different coins were minted in a single year (1994). Ten distinct coins were issued each year (eight Olympic coins per year in addition to two other commemorative coin programs) in 1995 and 1996.¹⁷ 17 Starting in 1998, a maximum of two coins were to be authorized for minting in a given year. Even with this restriction, however, three coins were minted in 1999. Additionally, Additional y, on two occasions, only one coin was authorized for a given year—2003 and 2008. Table 1 lists authorized and completed commemorative coins since 1998, including their authorizing statutes.

As listed inmedals/?action=911NationalMedal. As listed in Table 1, a total of 4345 commemorative coins were struck by the U.S. Mint between 1998 and 20192020. The average coin minted during this time period was authorized three years prior to being struck, with the longest time period between authorization and minting being the West Point Bicentennial Bicentennial commemorative coin, which was authorized in 1994 to be struck in 2002. The shortest time shortest period between authorization and minting was the San Francisco Old Mint commemorative coin, which was authorized and struck in the same year: 2006.

In addition to completed commemorative coin programs, Congress has authorized coins to be minted in 20202021 and 20212022. No coins are currently authorized for 2022 or beyond2023 or beyond. Table 2 lists current and future commemorative coins, including their authorizing statute.

Each Congress, several proposals are introduced to authorize new commemorative coins. Table 3 lists proposals for new commemorative coins that were introduced in the 115^th116th Congress. These billsbil s would have authorized coins for minting between 20172020 and 20222023. Legislation that became law—19th Amendment Centennial (Women’s Suffrage), Christa McAuliffe, the National Law Enforcement Museum, Negro Leagues Basebal Centennial, and the Purple Heart Hal of Honor—is not included in Table 3. law—American Legion 100^th Anniversary and the Naismith Memorial Basketball Hall of Fame—is not included in Table 3.

Authorizing Commemorative Coins

Authorizing Commemorative Coins Legislative Features

Commemorative coin legislation generally general y has certain features, including

•  findings that summarize the commemorative subject'’s history and importance;
•  specifications for denominations, weight, and metallic makeup;
• metal ic makeup;  design requirements, including required dates, words, and images;
•  start and end dates for minting coins and any other limitations;
• requirements for selling coins;
•  requirements for sel ing coins;  coin surcharge and distribution to designated groups; and
•  assurances that costs of the coin program are recouped by the U.S. Mint.

The following provides examples of the features generallygeneral y found in a commemorative coin bill.

Findings

bil . Findings Commemorative coin legislation typically typical y includes a section of findings. These include historical facts about the people, places, events, and institutions being honored by the coin. For example, the legislation to authorize the Star-Spangled Banner commemorative coin stated

Coin Specification

The coin specification section typicallytypical y provides details on the type and the maximum number of coins authorized to be minted. Additionally, Additional y, this section generallygeneral y includes language that makes the coin legal tender and a numismatic item. In some cases, this section also includes specific language on coin design. For example, the legislation authorizing the National Baseball Hall of Basebal Hal of Fame commemorative coin includes language on the three types of coins authorized—$5 gold coin, $1 silver coin, and half-dollar clad coin—and a sense of Congress that the reverse side of the coin should be "“convex to more closely resemble a baseballbasebal , and the obverse concave."¹⁹

Design of Coins

Design of Coins Commemorative coin legislation also typically also typical y specifies requirements for the design of the coin. These include official language on words or dates that are to appear on the coin and instructions about how the design might be chosen. For example, the legislation to authorize the Civil Rights Act of 1964 commemorative coin stated

21 Issuance of Coins

The issuance of coins section typicallytypical y specifies the time period that the coin will wil be available for sale and provides any instructions to the Secretary of the Treasury as to which mint location should strike the coins and the quality of the coins to be issued. For example, the March of Dimes commemorative coin authorization stated

22 Sale of Coins

The sale of coins section typicallytypical y sets the sale price of the coin and provides instructions to the Mint on bulk sales and prepaid coin orders. For example, the statute authorizing the Five-Star Generals commemorative coin stated

Surcharges

The surcharges section of the legislation typically23 21 P.L. 110-451, §4, 122 Stat. 5022, December 2, 2008. 22 P.L. 112-209, §5, 126 Stat. 1511, December 18, 2012. 23 P.L. 111-262, §6, 124 Stat. 2784, October 8, 2010. Congressional Research Service 9 link to page 20 Commemorative Coins: Background, Legislative Process, and Issues for Congress Surcharges The surcharges section of the legislation typical y sets the surcharges (amount above the face value that the U.S. Mint charges) per coin and designates the distribution of these surcharges to recipient organizations. For example, the statute to authorize the U.S. Army commemorative coin stated

24 More information on surcharges and disbursement to designated recipient organizations can be found below under "“Disbursement of Surcharges."

Financial Assurances

Some bills” Financial Assurances Some bil s have included a section on financial assurances. This section generallygeneral y states that minting coins will wil not result in a net cost to the government. The Mint is currently required to recover its expenses before it can disburse potential surcharges to recipient organizations designated in a commemorative coin statute.²⁵25 The Mint has stated that all commemorative coin al commemorative coin 24 P.L. 110-450, §7, 122 Stat. 5019, December 1, 2008. Many, but not all, commemorative coin measures contain the limitation provision found in this example. According to the U.S. Mint, this provision would elimina te potential surcharge payments for all commemorative coin programs in a given year, if Congress authorized more than two commemorative coin programs for that year, even if the coin program sold enough units to recoup the Mint’s costs and the designated recipient group raised matching funds to be eligible for a surcharge payment. T elephone conversation with Jennifer Warren, director of legislative and intergovernmental affairs, U.S. Mint, December 9, 2020. 25 P.L. 104-208, Div. A, title 1, §529(b), 110 Stat. 3009-349, September 30, 1996. Congressional Research Service 10 Commemorative Coins: Background, Legislative Process, and Issues for Congress programs have operated at no cost to the taxpayer since 1997.26programs have operated at no cost to the taxpayer since 1997.²⁶ For example, the statute to authorize the American Legion 100^th100th Anniversary commemorative coin stated

27 Consideration of Legislation in Congress

Once a commemorative coin bill bil is introduced, it is typicallytypical y referred to the House Committee on Financial Services or the Senate Committee on Banking, Housing and Urban Affairs.²⁸

28 Neither House nor Senate rules provide any restrictions specificallyspecifical y concerning consideration of commemorative coin legislation on the House or Senate floor.²⁹29 Pursuant to Senate and House rules, the Senate Committee on Banking, Housing, and Urban Affairs and the House Committee on Financial Services have jurisdiction over commemorative coin legislation.³⁰

30 In the Senate, the Banking, Housing and Urban Affairs Committee rules placein recent Congresses have placed a minimum on the number of cosponsors a commemorative coin bill bil must have before committee consideration. Committee Rule 8 requires that "has required that “at least 67 Senators must cosponsor any ... commemorative coin bill bil or resolution before consideration by the Committee."³¹

The rules of the House Financial Services Committee adopted for the 116^th Congress do not specifically Committee.”31 26 Email from Betty Birdsong, acting director, Legislative and Intergovernmental Affairs, U.S. Mint, December 18, 2018. 27 P.L. 115-65, §8, 131 Stat. 1191, October 6, 2017. 28 U.S. Congress, House, Financial Service Committee, at http://financialservices.house.gov; and U.S. Congress, Senate, Committee on Banking, Housing, and Urban Affairs, at http://www.banking.senate.gov. 29 T his stands in contrast to some other commemorative legislation. For more infor mation on House Rule XII, clause 5, see CRS Report R43539, Com m emorations in Congress: Options for Honoring Individuals, Groups, and Events, coordinated by Jacob R. Straus. 30 U.S. Congress, Senate, “Rule XXV(d): Committee on Banking, Housing, and Urban Affairs,” Standing Rules of the Senate, 113th Cong., 1st sess., S.Doc. 113-18 (Washington: GPO, 2013), pp. 26 -27, at https://www.gpo.gov/fdsys/pkg/CDOC-113sdoc18/pdf/CDOC-113sdoc18.pdf#page=26; and U.S. Congress, House, “ Rule X(1)(h),” Rules of the House of Representatives, 116th Cong., 1st sess., January 11, 2019, at https://rules.house.gov/sites/democrats.rules.house.gov/files/116-1/116-House-Rules-Clerk.pdf#page=9. 31 “Senate Committee on Banking, Housing, and Urban Affairs Rules of Procedure,” Congressional Record, daily edition, vol. 165 (February 25, 2019), pp. S1430 -S1492. Congressional Research Service 11 Commemorative Coins: Background, Legislative Process, and Issues for Congress The rules of the House Financial Services Committee adopted for the 116th Congress did not specifical y address committee consideration of commemorative coin legislation,32 address committee consideration of commemorative coin legislation,³² although although informal practices may exist.³³

33 Protocols issued by the House majority leader in the 116^th116th Congress also address addressed commemorative coins. The protocols³⁴ provide "protocols34 provided “further guidance related to scheduling legislation" and statelegislation” and stated that the majority leader "shall “shal consider the first three commemorative coin billsbil s in a Congress that receive 290 cosponsors and are submitted to the Committee on Financial Services to be scheduled for the Floor."³⁵

”35 Design of Coins

After Congress has authorized a commemorative coin, the U.S. Treasury begins the coin design process. This process involves consultation with the Citizens Coinage Advisory Committee (CCAC) and a design recommendation by the U.S. Commission of Fine Arts (CFA). The final decision on a coin'’s design is made by the Secretary of the Treasury.³⁶

36 Citizens Coinage Advisory Committee

Established by P.L. 108-15,³⁷,37 the CCAC advises the Secretary of the Treasury on theme and design of all al U.S. coins and medals. For commemorative coins, the CCAC advises the Secretary with regard to events, persons, or places to be commemorated, the mintage level of coins, and commemorative coin designs.

The CCAC consists of 11 members appointed by the Secretary of the Treasury, with four persons appointed upon the recommendation of the congressional leadership (one each by the Speaker of the House, the House minority leader, the Senate majority leader, and the Senate minority leader).³⁸38 The CCAC meets several times each year to consider design suggestions for coins and medals. For each coin considered, the CCAC provides advice to the Secretary "“on thematic, technical, and design issues related to the production of coins."³⁹”39 Recommendations are then published to the committee'’s website, at http://www.ccac.gov.

. 32 U.S. Congress, House, “Rule X(1)(h),” Rules of the House of Representatives, 116th Cong., 1st sess., January 11, 2019, at https://rules.house.gov/sites/democrats.rules.house.gov/files/116-1/116-House-Rules-Clerk.pdf#page=9. 33 In some past Congresses, the committee had adopted a rule to prohibit (1) the scheduling of a subcommittee hearing on commemorative coin legislation unless two -thirds of the House cosponsored the measure, or (2) reporting a bill that did not meet minting regulations under 31 U.S.C. §5112 (U.S. Congress, House, Committee on Financial Services, Rules for the Com m ittee on Financial Services, 113th Cong., 1st sess. (Washington: GPO, 2013), p. 6, at https://www.govinfo.gov/content/pkg/CPRT -113HPRT78856/html/CPRT-113HPRT 78856.htm). 34 Leadership “protocols” are not elements of the House Standing Rules and are not enforceable through points of order on the House floor. 35 U.S. Congress, House, Office of the Majority Leader, “3) Coins,” 116th Congress Legislative Protocols, at https://www.majorityleader.gov/content/116th-congress-legislative-protocols. 36 For example, see U.S. Department of the T reasury, U.S. Mint, “ Site and Design Selection Process,” American the Beautiful Quarters Program , at https://www.usmint.gov/learn/coin-and-medal-programs/america-the-beautiful-quarters?action=designselection#process. 37 31 U.S.C. §5135. 38 For a list of current members of the CCAC, see Citizens Coinage Advisory Committee, “Members,” at https://www.ccac.gov/aboutUs/members.html. 39 CFA, Civic Art, p. 480. Congressional Research Service 12 link to page 17 link to page 18 Commemorative Coins: Background, Legislative Process, and Issues for Congress When making recommendations to the Secretary, the CCAC considers several design aspects. Figure 1 shows the CCAC's "’s “Design Aspects We Look For,"” when advising groups on coin design. design.

Figure 1. Citizens Coinage Advisory Committee Design Elements

Source: Citizens Coinage Advisory Committee, " “Design Aspects We Look For," ” How to Make Friends and Influence the Committee (aka How to Get Picked), May 20, 2014, p. 2, at http://ccac.gov/media/aboutUs/specialReports/MedallicMedal ic-Design-Elements.pdf.

. Figure 2 shows examples of U.S. Commemorative coins. These include the first U.S. commemorative coin (1893 World'’s Columbian Exposition half-dollar), one of the best-selling sel ing commemorative coin programs of all al time (1986 Statue of Liberty half-dollar),⁴⁰40 and one of the most recent (2016 National Park Service Centennial).

Figure 2. Examples of Commemorative Coin Designs

Source: "Columbian Exposition Half Dollar," Early Commemorative 40 In total, the two Statue of Liberty commemorative coins sold more than 15 million units. T he program consisted of a $5 gold coin and a half-dollar coin. For more information on commemorative coin sales, see Department of the T reasury, U.S. Mint, “Historical Commemorative Coin Sales,” at http://www.usmint.gov/about_the_mint/index.cfm?action=historical-commemorative-coin-sales. Congressional Research Service 13 Commemorative Coins: Background, Legislative Process, and Issues for Congress Figure 2. Examples of Commemorative Coin Designs Source: “Columbian Exposition Half Dol ar,” Early Commemorative Coins, at http://earlycommemorativecoins.com/1892-columbian-half-dollar; U.S. dol ar; U.S. Department of the Treasury, U.S. Mint, "“1986 Statue of Liberty Half Dollar," at Dol ar,” at https://www.usmint.gov/about_the_mint/CoinLibrary/index.cfm#statueLib; and U.S. Department of the Treasury, U.S. Mint, "“2016 National Park Service 100th Anniversary Commemorative 100 th Anniversary Commemorative Coin Program: Gold Obverse and Reverse," ” at https://www.usmint.gov/coins/coin-medal-programs/commemorative-coins/national-park-service-100th-anniversary-gold.

. U.S. Commission of Fine Arts

The U.S. Mint also makes a formal presentation of design options to the U.S. Commission of Fine Arts (CFA). Established in 1910, the CFA advises "“upon the location of statues, fountains, and monuments in the public squares, streets, and parks in the District of Columbia, the selection of models for statues, fountains, and monuments erected under the authority of the Federal Government; the selection of artists; and questions of art generallygeneral y when required to do so by the President or a committee of Congress."⁴¹”41 This includes review of commemorative coins when they are presented by the U.S. Mint and the issuance of recommendations for a coin'’s design.

41 40 U.S.C. §9102. Congressional Research Service 14 Commemorative Coins: Background, Legislative Process, and Issues for Congress For example, in March 2016, the U.S. Mint presented several alternative designs for the Boys Town Centennial Commemorative Coin program. In a letter to the U.S. Mint, the CFA provided recommendations on the design for each of the three statutorily required coins. CFA'’s letter stated42 s letter stated⁴²

FAIA Secretary U.S. Mint

After receiving advice from the CCAC and the CFA, the Secretary of the Treasury, through the U.S. Mint, finalizes the coin'’s design and schedules it for production at the appropriate time. In some cases, the U.S. Mint holds a competition for coin designs. For example, in February 2016, the U.S. Mint announced a design competition for the 2018 commemorative coin to World War I American Veterans.⁴³ Additionally, 43 Additional y, designers competed for the 2018 Breast Cancer Awareness commemorative coin.⁴⁴44 The final design was announced in October 2017.⁴⁵

45 Commemorative Coin Timeline

From authorization to coin launch, the CCAC has estimated that a commemorative coin takes a minimum of between 56 and 60 weeks. This includes the coin design process, engraving, marketing, printing materials, and coin launch. This timeline, however, does not account for coin programs that might be authorized years in advance of the coins'’ scheduled release. In those 42 Letter from T homas E. Luebke, secretary, U.S. Commission of Fine Arts, to Rhett Jeppson, principal deputy director, U.S. Mint, March 24, 2016, at https://www.cfa.gov/records-research/project -search/cfa-17mar16-5. 43 U.S. Department of the T reasury, “United States Mint Launches Design Competition,” press release, February 18, 2016, https://www.treasury.gov/connect/blog/Pages/United-States-Mint -Launches-Design-Competition.aspx. The competition occurs in two stages. First, applicants submit three to five samples of work. Second, a group of invited applicants is asked to submit coin designs. T he initials of the competition’s winner will be placed on the coin and the winner will receive $10,000. Currently, the competition for the World War I commemorative coin is ongoing. 44 U.S. Mint, “Coin Design Competitions,” at http://www.usmint.gov/competition. 45 U.S. Mint, “Breast Cancer Awareness Commemorative Coin Program,” at https://www.usmint.gov/learn/coin-and-medal-programs/commemorative-coins/breast-cancer-awareness. Congressional Research Service 15 link to page 20 link to page 10 Commemorative Coins: Background, Legislative Process, and Issues for Congress scheduled release. In those circumstances, the process from authorization to coin launch will wil be considerably longer. The process, as described by the CCAC, is shown inin Figure 3. Figure 3.

Figure 3. Commemorative Coin Process

Source: Citizen Commemorative Coin Advisory Committee, 2000 Annual Report, at https://www.usmint.gov/foia/reading-room/cccac-2000-annual-report. . Note: The Citizens Commemorative Coin Advisory Committee Committee (CCCAC) became the Citizens Coinage Advisory Committee Advisory Committee pursuant to P.L. 108-15 (§103, 117 Stat 615, April 23, 2003). 23, 2003).

Disbursement of Surcharges

As discussed above under " “Authorizing Commemorative Coins,",” each authorizing statute sets a surcharge amount per coin and designates one or more recipient organizations to receive the surcharges. A designated recipient organization is "“any organization designated, under any provision of law, as the recipient of any surcharge imposed on the sale of any numismatic item."⁴⁶

”46 Commemorative coin legislation generally general y includes the name(s) of the organization(s) that will wil benefit from the sale of the coin and how the surcharges will wil be divided, if necessary. For example, the legislation authorizing a commemorative coin for the U.S. Marshals Service specified four groups to receive distribution from the program.⁴⁷47 They were

•  the U.S. Marshals Museum, Inc.,
•  the National Center for Missing & Exploited Children,
•  the Federal Law Enforcement Officers Association Foundation, and
•  the National Law Enforcement Officers Memorial Fund.⁴⁸

Additionally, 48 Additional y, the law might also specify how much money the designated recipient organization should receive. For the Marshals Service commemorative coin, the first $5 millionmil ion was specified for the U.S. Marshals Museum. After that, additional surcharges were divided equallyequal y among the 46 P.L. 104-208, §529, 110 Stat. 3009-349, September 30, 1996. 47 P.L. 112-104, 126 Stat. 289, April 2, 2012. 48 P.L. 112-104, §7. Congressional Research Service 16 Commemorative Coins: Background, Legislative Process, and Issues for Congress among the National Center for Missing & Exploited Children, the Federal Law Enforcement Officers Association Foundation, and the National Law Enforcement Officers Memorial Fund.⁴⁹

49 Once a commemorative coin has been authorized, the CCRA requires that certain standards be met before surcharge payments can be distributed to designated recipient organizations:⁵⁰

• 1. 50 1. The recipient organization must raise funds from private sources "“in an amount that is equal to or greater than the total amount of the proceeds of such surcharge derived from the sale of such numismatic item."⁵¹
• 2. ”51 2. The qualifying funds raised from private sources must be for the purposes specified by the enabling legislation.
• 3. 3. The U.S. Mint must recover "all “al numismatic operation and program costs allocable al ocable to the program."⁵²
• 4. ”52 4. The recipient organization must submit an audited financial statement and submit the results of annual audits to demonstrate, to the satisfaction of the Secretary of the Treasury, that it has qualified for surcharge proceeds and is properly expending them.⁵³

53 Guidance provided by the U.S. Mint in Surcharge Recipient Organization'’s Compliance Procedures for Surcharge Eligibility & Payments includes further details of the requirements placed on designated recipient groups before surcharge payments can be made.. These include requirements for documentation on the amount of money raised from private sources and the 49 P.L. 112-104, §7. 50 T o guide designated recipient groups, the U.S. Mint has published guidance on surcharge disbursement. U.S. Mint, Surcharge Recipient Organization’s Compliance Procedures for Surcharge Eligibility & Payments, at https://www.usmint.gov/wordpress/wp-content/uploads/2016/06/Surcharge-Recipient -Organizations-Compliance-Procedures-for-Surcharge-Eligibility-and-Payments.pdf. [Hereinafter, Surcharge Recipient Manual]. 51 T he CCRA requires that designated recipient organizations demonstrate that funds have been raised from private sources for the project designated to receive the surcharges from the commemorative coin program. In order to receive surcharge payments, “the total of qualifying private funds raised must be greater than or equal to the total amount of the proceeds of such surcharge derived from the sale of such numismatic item.” Further, “ private funds are funds raised from non-governmental sources,” and can include cash contribution and other assets that can be readily converted to cash. Other assets that can be readily converted to cash might include “ donations of common stock or marketable real estate.” In-kind donations are not considered “funds,” and are not included in calculations for the purpose of surcharge disbursement. Fundraising t ime limits are also placed on designated recipient organizations. All eligible private funds must be raised “during the period between the inception of the recipient organization and the date two years after the last day any coin in the respective program is issued by the Secretary” (Surcharge Recipient Manual, pp. 4-5). 52 Further, payments are not generally made until “the recipient organization satisfactorily demonstrates that it has raised qualifying funds from private sources in an amount equal to or gr eater than the maximum amount the organization may receive from the proceeds of surcharges under the respective [commemorative coin] program” (Surcharge Recipient Manual, p. 14). If the recipient organization has demonstrated that qualifying funds have bee n raised, “the United States Mint will consider accommodating the recipient organization by making interim surcharge payments at the United States Mint’s discretion,” although “any interim surcharge payment will depend on the financial performance of the program and the risk of loss to which the United States Mint may be exposed by releasing surcharge funds before the termination of the program” (Surcharge Recipient Manual, p. 12). Interim payments may be made starting six months after the start of the commemorative coin program with payments up to 50% of surcharges collected by the U.S. Mint. Further payments of up to 25% may be made nine months after the start of the program, with the remainder paid upon program close out. 53 Surcharge Recipient Manual, p. 1. Additionally, audits are required for privately raised funds. “ T he auditor’s report shall cover the period necessary to demonstrate that required funds from private sources have been raised by the recipient organization. T he period reported should be by fiscal year of the recipient organization and must correspond with the period covered by the recipient organization ’s assertion. T he auditor should submit its report promptly to the recipient organization upon completion” (Surcharge Recipient Manual, p. 6). Congressional Research Service 17 link to page 22 link to page 23 link to page 23 Commemorative Coins: Background, Legislative Process, and Issues for Congress requirements for documentation on the amount of money raised from private sources and the period of fund raising. To document these requirements, designated recipient groups must fill fil out a “a "Schedule of Funds Raised From Private Sources,"” which is provided in an appendix to the Surcharge Recipient Organization'’s Compliance Procedures for Surcharge Eligibility & Payments publication.⁵⁴

54 Following completion of these tasks, and after the Mint has recouped any expenses related to minting the commemorative coin, surcharges are then disbursed to the designated recipient organization.⁵⁵55 Since 1982, when the commemorative coin program was restarted, the U.S. Mint has raised more than $506 million mil ion in surcharges for various designated recipient groups.⁵⁶ 56 Production costs for each commemorative coin can differ based on design, administrative costs, and metals used. For example, Table 4 shows how the U.S. Mint calculated surcharges for a commemorative coin for the 2007 Benjamin Franklin Commemorative Coin.⁵⁷

Issues for Congress

As Members of Congress contemplate introducing legislation, and the House or the Senate potentiallypotential y considers commemorative coin measures, there are several issues that could be considered. These can be divided into issues for individual Members of Congress with respect to individual individual coins, and issues for Congress as an institution. Individual issues include choices Members may make about which people, places, events, or institutions might be honored; which groups might receive surcharge payments; and whether specific design elements might be required for a proposed coin. Institutional issues might include committee or chamber rules on the consideration of commemorative coins and the limit on the number of commemorative coins minted per year.

Individual Considerations

Groups and Events Honored

Some commemorative coin programs are more popular than others. For example, since the commemorative coin program was restarted in 1982, the average commemorative coin program has sold approximately 1 million mil ion coins. The 1986 U.S. Statue of Liberty coins (15,491,169 coins) sold the most, while the 1997 Franklin Delano Roosevelt gold $5 coin sold the fewest (41,368).⁵⁸

58 The introduction of commemorative coin legislation often serves two purposes: to honor people, places, events, or institutions and to provide designated recipient groups with potential surcharge funds. These two purposes often go together. Since only two coins may be minted in a given year, Congress may face a ranking of which groups are honored at any given time. In making that decision, consideration might be given to coins that are likely to sell to sel their authorized allotment al otment and provide the designated recipient group with disbursed surcharges over coins that might be 58 Department of the Treasury, U.S. Mint, “Historical Commemorative Coin Sales,” at http://www.usmint.gov/about_the_mint/index.cfm?action=historical-commemorative-coin-sales. Congressional Research Service 19 link to page 14 Commemorative Coins: Background, Legislative Process, and Issues for Congress less popular and might not sel less popular and might not sell enough units to provide surcharges to the designated recipient group.

group. Alternatively, Congress could decide that a person, place, event, or institution merits a commemorative coin regardless of the potential sales of the coin. In this instance, the authorization for a coin might not expect that the allotmental otment would be fully sold, but that the recognition provided by the coin was nevertheless desirable.

Disbursement of Surcharges

An important part of commemorative coin legislation is the designation of groups to receive potential surcharges from the coin sales. Often, when drafting legislation, Members have specific organizations in mind as recipients of potential surcharges. As that legislation is being drafted, however, Members face a choice of whether surcharges should be directed to a single group, or to more than one entity.

In order for a group to receive surcharge payments, it must go through two stages: (1) raise sufficient matching funds from private sources,⁵⁹59 and (2) be subject to annual audits on its use of surcharge payments.⁶⁰60 Designated recipient groups are required to raise matching funds from private sources prior to the disbursement of surcharges. A group'’s ability to raise sufficient funds is a potential yis a potentially important consideration. Should a group not raise sufficient private funds, the full surcharge payment for which they could be eligible might not be disbursed.

Authorizing legislation generally Authorizing legislation general y includes language about how the group might use surcharges. As shown in "“Surcharges"” above, these purposes are often broad. For example, the legislation that authorized the 1993 Thomas Jefferson Commemorative coin directed surcharges to two organizations: the Jefferson Endowment Fund and the Corporation for Jefferson'’s Poplar Forest.⁶¹ 61 Funds for the Jefferson Endowment Fund were to be used "“to establish and maintain an endowment to be a permanent source of support for MonticelloMonticel o and its historic furnishings; and for the Jefferson Endowment Fund'’s educational programs, including the International Center for Jefferson Studies."⁶²”62 For the Corporation for Jefferson'’s Poplar Forest, funds were to be used for the "“restoration and maintenance of Poplar Forest."⁶³

”63 Once sufficient funds are raised and surcharges are disbursed, designated recipient groups are subject to an audit of surcharge payments.⁶⁴ Additionally64 Additional y, the surcharge payments must be "“accounted for separately from all al other revenues and expenditures of the organization."⁶⁵”65 These audits are conducted "“in accordance with generallygeneral y accepted government auditing standards by an independent public accountant selected by the organization."⁶⁶”66 Should a group not use payments 59 31 U.S.C. §5134(f)(1). 60 31 U.S.C. §5134(f)(2). 61 P.L. 103-186, §108, 107 Stat. 2246, December 14, 1993. 62 P.L. 103-186, §108(1). 63 P.L. 103-186, §108(2). Poplar Forest was owned by T homas Jefferson and is located in Forest, VA. Fo r more information, see T homas Jefferson’s Poplar Forest, at http://www.poplarforest.org. 64 31 U.S.C. §5134(f)(2). 65 31 U.S.C. §5134(f)(2)(C). 66 31 U.S.C. §5134(f)(2)(A). For example, the Government Accountabilit y Office (GAO) found that the T homas Jefferson Memorial Foundation received surcharges and had deposited them in proper accounts, but had not yet spent any surcharge funds. For more information, see U.S. Government Accountability Office, Jefferson Mem orial Foundation Com m emorative Coin Program , B-276273, July 18, 1997, at http://www.gao.gov/assets/90/86670.pdf. Congressional Research Service 20 link to page 15 Commemorative Coins: Background, Legislative Process, and Issues for Congress Should a group not use payments properly, that information would likely be discovered by the required audit and could potentially potential y result in a sanction, although no specific penalty is mentioned in law.

Specification of Design Elements

In some cases, commemorative coin authorizations have required the Mint to incorporate design elements beyond requirements for specific words (e.g., "“Liberty,"” or "“E Pluribus Unum"”), the denomination (e.g., "“one dollar"”), or the year.⁶⁷67 In these cases, the authorizing legislation specificallyspecifical y states the design element. For example, it was a sense of Congress that the National Baseball Hall Basebal Hal of Fame commemorative coin was to be curved to look more like a baseball.⁶⁸ basebal .68 Similarly, the 2018 Breast Cancer Awareness $5 gold coin is to be minted using "“pink gold."⁶⁹

”69 Should a Member wish to have a specific design element incorporated into a future commemorative coin, the authorizing legislation would likely need to contain that language either as a sense of Congress or as part of the coin specification section. Including language that would require a certain design element would likely ensure that the Member'’s vision for the commemorative coin would be incorporated into the design and minting process. Such specification, however, could serve to limit design choice for the commemorative coin and might alter the cost structure of striking a coin, if the required element diverges from standard coin- minting practices.⁷⁰

70 Institutional Considerations

Requirements for Legislative Consideration

As discussed above under " “Consideration of Legislation in Congress,"” neither House nor Senate rules provide any restrictions specificallyspecifical y concerning consideration of commemorative coin legislation legislation on the House or Senate floor.⁷¹71 The Senate Committee on Banking, Housing, and Urban Affairs, however, does havehas in recent Congresses had a committee rule that requires that at "“least 67 Senators must cosponsor any ... commemorative coin bill bil or resolution before consideration by the Committee."⁷² Currently, the”72 The House Financial Services Committee has not, in recent years, adopted any specific rules concerning committee consideration of commemorative coin legislation, although it has required a minimum number of cosponsors in past Congresses.⁷³

73 67 31 U.S.C. §5112(d)(1). 68 P.L. 112-152, §3(d), 126 Stat. 1156, August 3, 2012. 69 P.L. 114-148, §3(a)(1)(B), 130 Stat. 362, April 29, 2016. 70 For example, see discussion on the size of precious-metal blanks for the 2014 National Baseball Hall of Fame commemorative coin that accompanied P.L. 113-10 (127 Stat. 445, May 17, 2013), at “National Baseball Hall of Fame Commemorative Coin Act Amendment,” Congressional Record, vol. 159, daily edition (April 24, 2013), pp. H2260-H2261. 71 T his stands in contrast to a House Rules provision (Rule XII, clause 5) that prohibits the introduction or consideration of date-specific commemorative legislation. For more information on House Rule XII, clause 5, see CRS Report R43539, Com m emorations in Congress: Options for Honoring Individuals, Groups, and Events, coordinated by Jacob R. Straus. 72 “Senate Committee on Banking, Housing, and Urban Affairs Rules of Procedure,” Congressional Record, daily edition, vol. 165 (February 25, 2019), pp. S1430 -S1492. 73 U.S. Congress, House, Committee on Financial Services, Rules for the Committee on Financial Services, 113th Cong., 1st sess. (Washington: GPO, 2013), p. 6, at https://www.govinfo.gov/content/pkg/CPRT -113HPRT78856/html/CPRT -113HPRT 78856.htm. Congressional Research Service 21 link to page 14 link to page 20 Commemorative Coins: Background, Legislative Process, and Issues for Congress As demonstrated by the discontinuation of the House Financial Services Committee rule requiring a minimum number of cosponsors for committee commemorative coin legislation, committee rules can be changed from Congress to Congress. Should the House want to place requirements on the consideration of commemorative coin legislation, the Financial Services Committee could readopt its former rule, or something similar. Adopting committee rules to require a minimum number of cosponsors might encourage bill bil sponsors to build support among Representatives for a commemorative coin bill bil to honor a specified group or event. Such a minimum requirement, however, could potentiallypotential y limit the committee in the number or type of commemorative coin bills bil s it considers.

Since only the Senate Committee on Banking, Housing, and Urban Affairs has in recent years had a rule that imposes a formal qualification on the potential consideration of commemorative coin legislation, the possible path forward for a bill can be different within each chamber. Should the House, the Senate, or both want to adopt similar language for the consideration of commemorative coin legislation, such language could be incorporated into future committee rules, into House and Senate Rules, or into law. Taking steps to formallyformal y codify the commemorative coin consideration process might provide sponsors with a single process for coin consideration, which could make it easier for coin billsbil s to meet minimum requirements for consideration across both the House and Senate. Such codification could also limit congressional flexibility flexibility and might result in fewer proposals or authorizations to comply with new standards.

Number of Coins Minted Per Year

In 1996, Congress limited the U.S. Mint to issuing two coins per year beginning in calendar year 1998.⁷⁴74 This action was taken in response to the proliferation of commemorative coins authorized since the program was restarted in 1982.⁷⁵75 Should Congress want to increase or decrease the maximum number of commemorative coins minted per year, the law could be amended. Reducing the number of commemorative coins per year would also reduce the number of groups or events that might be commemorated and reduce the number of designated recipient groups that might be aided by the disbursement of coin surcharges. A decrease in the number of commemorative coins per year, however, could increase sales on authorized coins by reducing potential competition among coin programs.

Should Congress desire to increase the number of coins, more people, places, events, or institutions could potentiallypotential y be honored, and a larger variety of designated recipient groups might receive surcharges from the U.S. Mint. Authorizing additional commemorative coin programs, however, could increase the number of commemorative coins available and reintroduce problems associated with competition among commemorative coin programs and result in a proliferation of coins on the market at any given time. Such a scenario might result in decreased surcharge disbursement opportunities for individual designated recipient groups.

If Congress authorizes more than two commemorative coin programs for a particular year, groups might not be eligible to receive surcharge payments. As discussed above under “Surcharges” and “Disbursement of Surcharges,” some commemorative coin statutes contain limitation provisions that would eliminate surcharge payments for al commemorative coins in a given year, if Congress authorizes more than two commemorative coin programs for that year. The limitation provisions typical y say the following: 74 P.L. 104-208, §529, 110 Stat. 3009-349, September 30, 1996; 31 U.S.C. §5112(m)(1). 75 U.S. Congress, Senate, The City of New York Tercentennial Commemorative Coin—Veto Message, 83rd Cong., 2nd sess., February 3, 1954, S.Doc. 94 (Washington: GPO, 1954); and Q. David Bowers, A Guide Book of United States Com m em orative Coins (Atlanta, GA: Whitman Publishing, 2008), p. 16. Congressional Research Service 22 link to page 7 link to page 7 Commemorative Coins: Background, Legislative Process, and Issues for Congress (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 (as in effect on the date of the enactment of this Act). The Secretary of the Treasury may issue guidance to carry out this subsection.76 For example, for authorized coins in 2021 and 2022, three of the four contain similar limitation provisions. Only the Christa McAuliffe commemorative coin does not contain the provision.77 As such, should Congress want to add a third coin for 2021 or 2022 and intend to have surcharge payments made to designated recipient groups (assuming the U.S. Mint recoups its costs and the group raises the required funds), those statutes would likely need to be amended to al ow such payments. Coin Timelines Coin Timelines

In recent years, the time between enactment of a commemorative coin law and a coin'’s release has decreased. The compression of the timeline between enactment and sale of the first coin can be a critical variable for whether a commemorative coin program is successful at potentially potential y raising money for its designated recipient group(s). As mentioned above under "Commemorative “Commemorative Coins, 1998-Present,"” between 1998 and 2011 coins were authorized, on average, three years prior to January 1 of the year the coin was issued, with the longest time period between authorization and the year of issue being the West Point Bicentennial commemorative coin (which was authorized in 1994 to be struck in 2002). The shortest time period between authorization and the issue year was the San Francisco Old Mint commemorative coin, which was authorized and struck in the same year, 2006. For coins authorized for sale between 2012 and 2021, the U.S. Mint reports that the average number of days between enactment and January 1 of the release year was 795 days. The longest time between enactment and January 1 of the issue year was the 2014 Civil Rights Act of 1964 coin (1,856 days, or approximately 5 years),⁷⁶78 and the shortest is expected to be the 2020 Women'’s Suffrage Centennial coin (37 days).⁷⁷79 The 2020 Women' Women’s Suffrage Centennial Commemorative Coin Act was enacted on November 25, 2019.

The creation of a newly authorized commemorative coin takes time. The more time between enactment and issuance, the more opportunity for coin design and marketing to increase the likelihood likelihood of developing a product that honors the individual, group, or event and appeals to collectors. Designated recipient groups do not receive surcharge payments until after the U.S. Mint has recouped all al of the costs associated with designing, striking, and marketing a coin. For coins with a long lead time (enactment to sales), the U.S. Mint and the group have a greater opportunity to consult on the coin design and marketing strategy to ensure the sale of as many coins as possible. A longer timeline, therefore, might make it more likely a designated recipient group might receive a surcharge payment.

76 P.L. 116-209, §7(d), 134 Stat. 1014, December 4, 2020. 77 P.L. 116-65, 133 Stat. 1124, October 9, 2019. T he other coins authorization contain the limitation provision: National Law Enforcement Officers Museum (P.L. 116-94, Div. K, §107(d), 133 Stat. 3088, December 20, 2019); Negro Leagues Baseball Centennial (P.L. 116-209, §7(d), 134 Stat. 1014, December 4, 2020); and National Purple Heart Hall of Honor (P.L. 116-247, §7(d), 134 Stat. 1120, December 22, 2020). 78 P.L. 110-451, 122 Stat., 5021, December 2, 2008. 79 P.L. 116-71, 133 Stat. 1147, November 25, 2019. Congressional Research Service 23 link to page 28 Commemorative Coins: Background, Legislative Process, and Issues for Congress Non-Fundraising Commemorative Coins In the 116th Congress (2020-2021), the 1921 Silver Dollar Coin Anniversary Act was enacted. This law would require the U.S. Mint to issue silver dollar coins in 2021 in honor of the 100th anniversary of the Morgan Dollar and the 100th anniversary of the Peace Dollar. Figure 4 shows the proposed 2021 designs for the Morgan and Peace Dollar coins. Figure 4. Proposed 2021 Morgan and Peace Dollar Designs Source: Citizens Coinage Advisory Commission, “CCAC Meeting Images for the 2021 Morgan and Peace Silver $1 Coins,” January 19, 2021, at https://www.usmint.gov/news/ccac-meetings/2021-morgan-and-peace-silver-dol ar-coins. While the 2021 Morgan and Peace Dollars coins commemorate the 100th anniversaries of each coin, they are not technical y considered commemorative coins according to traditional definitions of that term. Commemorative coins, as defined in this report, by the U.S. Mint, and by the Commemorative Coin Reform Act (CCRA), are authorized by Congress to “celebrate and honor American people, places, events, and institutions” and “help raise money for important causes.”80 The 2021 Morgan and Peace dollars are differentiated from other commemorative coins because proceeds from their sale are not statutorily designated for a specific recipient group. They are solely minted to commemorate the 100th anniversary of the coins, not to raise money. 80 U.S. Mint, “Commemorative Coins,” at https://catalog.usmint.gov/coins/coin-programs/commemorative-coins/?_ga=2.206604115.1323343518.1611061516 -633680901.1591635300. Congressional Research Service 24 link to page 18 Commemorative Coins: Background, Legislative Process, and Issues for Congress Historical y, the U.S. Mint has had the authority to strike precious metal coins made from gold,81 platinum,82 pal adium,83 and bullion.84 In some instances, the Mint chooses to honor particular historic events through the issuance of precious metal coins. For example, in 2020, the U.S. Mint issued gold $10 coins to honor the 400th anniversary of the Mayflower.85 These coins, while commemorating the Mayflower, are not technical y considered commemorative coins according to traditional definitions of that term since they were not authorized to raise money for a designated recipient group. Concluding Observations Concluding Observations

Commemorative coins have long been a popular way to honor people, places, and events. HistoricallyHistorical y, commemorative coins were issued to celebrate state anniversaries, expositions, and event anniversaries, or to support the building of memorials. Coins were generallygeneral y sold to sponsoring organizations, who then resold them to raise funds.⁷⁸86 In the modern era, only two coins can be minted per year at the same time; according to the U.S. Commission of Fine Arts (CFA), the "“range of subject matter [has] expanded to include subjects such as women, historical events, and even buildings and landscapes."⁷⁹ Additionally”87 Additional y, instead of sellingsel ing coins to organizations to raise money, the concept of surcharges as a method to direct money to designated groups has been introduced.

As Congress considers the authorization of new coins to support designated recipient groups, consideration might be given to coins that could maximize sales and provide groups with the ability ability to earn as much money as possible for surcharges to support group activities. On the other hand, if Congress'’s intent for a coin is to recognize a person, place, event, or institution, then smallersmal er sales numbers might not factor into legislative decisionmaking. Some commemorations inherently have broader appeal than others and the sale of commemorative coins often reflects the popularity of a particular person, place, event, or institution to coin collectors and the broader general public.

To potentially To potential y maximize the appeal and sale of commemorative coins to support designated recipient organizations, Congress might consider whether the people, places, events, or institutions to be commemorated have a broad appeal and whether design elements might be specified that would make the coin more appealing to the general public. For example, the 1986 Statue of Liberty commemorative coin (shown inin Figure 2) sold over 15 millionmil ion units, while other coins have sold as few as approximately 40,000. For a designated recipient organization to earn surcharges, the U.S. Mint'’s production costs must be recouped before payments can be made. As a result, coins that sell sel out of statutory allotmentsal otments are more likely to generate significant surcharges than those that struggle to find a market beyond commemorative coin collectors.

Similarly, on at least three 81 U.S. Mint, “Gold Coins,” at https://catalog.usmint.gov/coins/precious-metal-coins/gold. 82 U.S. Mint, “Platinum Coins,” at https://catalog.usmint.gov/coins/precious-metal-coins/platinum. 83 U.S. Mint, “Palladium Coins,” at https://catalog.usmint.gov/coins/precious-metal-coins/palladium. 84 U.S. Mint, “United States Bullion Coins,” at https://catalog.usmint.gov/coins/precious-metal-coins/bullion-coins.html. 85 U.S. Mint, “Mayflower 400th Anniversary Gold Reverse Proof Coin,” at https://catalog.usmint.gov/mayflower-400th-anniversary-gold-reverse-proof-coin-20XC.html?cgid=null&q=mayflower&navid=search. 86 U.S. Government Accountability Office, Commemorative Coins Could Be More Profitable, GAO/GGD-96-113, August 1996, p. 2, at http://www.gao.gov/products/GGD-96-113. 87 CFA, Civic Art, p 480. Congressional Research Service 25 Commemorative Coins: Background, Legislative Process, and Issues for Congress Similarly, on at least four occasions, Congress has provided specific requirements to the U.S. occasions, Congress has provided specific requirements to the U.S. Mint on the design of commemorative coins—. These included:  that the 2014 National Baseball Hall Basebal Hal of Fame coin be curved to represent a baseball; basebal ;  that the 2018 National Breast Cancer Awareness coin be tinted pink, to reflect the color associated with breast cancer awareness efforts; and  that the 2019 Apollo 11 50^th 11 50th Anniversary coin be convex to resemble an astronaut's helmet. astronaut’s helmet; and  that the 2020 Naismith Basketbal Hal of Fame coin be curved to represent a basketbal . Evidence from the coin collecting community suggests that a coin with unique design features may be more attractive for coin collectors and noncollectors alike. For example, a coin-collecting publication reported that the National Baseball Hall Basebal Hal of Fame coin was so popular that the U.S. Mint had difficulty meeting demand for orders, especiallyespecial y because it was the "“first U.S. coin to utilize utilize this [curved or dish design] production method and with a baseball basebal theme, [it] ended up being a homerun with collectors."⁸⁰

”88 The goal of commemorative coins is twofold: to commemorate a person, place, event, or institution and to provide surcharges to groups. As Congress considers future commemorative coins, the ability to appeal to broad segments of the population to purchase coins in support of designated recipient groups might be a consideration. If Congress considers what people, places, events, or institutions might be honored and the coins'’ designs, the commemorative coin program could create innovative designs that raise significant monies for designated recipient groups. Since not all al people, places, events, or institutions have the same appeal to the general public, consideration of which might be the best subject of commemorative coins would ensure that the U.S. Mint dedicates its resources to coins that are more likely to sell sel out authorized allotments al otments and provide maximum surcharge payments. Alternatively, Congress could recognize important people, places, events, or institutions with a coin without consideration of the potential surcharges. In this case, historicallyhistorical y important people, places, events, or institutions could be recognized by the United States regardless of potential amounts raised for these groups.

Appendix A. 88 Louis Golino, “T he Coin Analyst: Baseball Hall of Fame Commemorative Coin Prices Move Higher,” CoinWeek, May 5, 2014, at http://www.coinweek.com/coins/commemoratives/baseball-hall-of-fame-commemorative-coin-prices-move-highe. Congressional Research Service 26 link to page 31 Commemorative Coins: Background, Legislative Process, and Issues for Congress Appendix A. Historical Commemorative Coins Historical Commemorative Coins

Between 1892 and 1954, 60 commemorative coins were authorized by Congress. Table A-1 provides a list of these coins organized by the year in which they were struck by the mint. The table also includes the type of coin, the subject, and the authorization statute.

Appendix B. Congressional Research Service 28 link to page 33 Commemorative Coins: Background, Legislative Process, and Issues for Congress Appendix B. Modern Commemorative Coins, 1982-1997

Between 1982 and 1997, 47 commemorative coins were authorized by Congress. Table B-1 provides a list of these coins organized by the year in which they were struck by the Mint. The table also includes the coin'’s subject and authorizing statute. Coin denominations are not provided for modern commemorative coins because authorizing legislation generallygeneral y provides for more than one denomination per commemorative coin series.