HB951 would require the Secretary of the Treasury to mint and issue commemorative coins in three denominations to celebrate the Nation’s semiquincentennial, honoring over 250 years of Americans’ service and sacrifice. The coins include $5 gold pieces, $1 silver coins, and half-dollar clad coins, each with defined minting limits and technical specifications.
Proceeds from surcharges on the coin sales would support the Stephen Siller Tunnel to Towers Foundation, with a design and issuance process that involves established art and coins committees and a fixed issuance window. The bill also mandates no net cost to the government and requires recovery of all production and design costs through the surcharges before any funds are disbursed to the designated recipient.
At a Glance
What It Does
Requires minting of three commemorative coin types (gold, silver, half-dollar) with specified mintages, weights, diameters, and gold/silver content; design and issuance rules; and a plan to allocate surcharges to a designated foundation.
Who It Affects
The Treasury (minting and issuance), coin buyers, coin dealers, and the Stephen Siller Tunnel to Towers Foundation that receives surcharge proceeds.
Why It Matters
Establishes a federally funded commemorative program tied to a national milestone while directing surcharge revenues to a charitable foundation that supports veterans, Gold Star families, and first responders.
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What This Bill Actually Does
The bill directs the Treasury to mint three kinds of commemorative coins to honor 250 years of American service and sacrifice. The denominations are $5 gold, $1 silver, and half-dollar clad coins, with explicit minting ceilings and physical specs.
The designs must reflect the over-250-year tradition of service and be selected through the Secretary’s consultation with the Tunnel to Towers Foundation and the Commission of Fine Arts, with final review by the Citizens Coinage Advisory Committee. Issuance would occur only in 2028, and coins would be sold with surcharges that fund the designated foundation, in addition to recovering the costs of designing and issuing the coins.
The bill emphasizes that the government should incur no net cost, and that all costs must be covered before any funds go to the foundation.
Surcharges are set at $35 for gold coins, $10 for silver coins, and $5 for half-dollars. These proceeds go to the Stephen Siller Tunnel to Towers Foundation to support programs for Gold Star families, first responders, and veterans.
The sale structure allows bulk sales and prepaid orders at discounted prices. The program’s accounting and audits follow federal standards to ensure that costs are recovered and that net government costs do not occur.
The issuance window is tightly scoped (2028), and minting may be adjusted if demand requires it, within statutory limits.
The Five Things You Need to Know
Not more than 100,000 $5 gold coins, weighing 8.359 g, 0.850 inch in diameter, with at least 90% gold.
Not more than 500,000 $1 silver coins, weighing 26.73 g, 1.500 inches in diameter, with at least 90% silver.
Not more than 750,000 half-dollar coins, weighing 11.34 g, 1.205 inches in diameter, minted to standard half-dollar specs.
Surcharges are $35 (gold), $10 (silver), and $5 (half-dollar), with all surcharges allocated to the Foundation.
Issuance window is strictly 2028, and the government must recover all costs before any funds are disbursed.
Section-by-Section Breakdown
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Findings
This section articulates the rationale for commemorating the Nation’s semiquincentennial and the historical significance of service by Americans. It also links the commemorative coin program to the Stephen Siller Tunnel to Towers Foundation, highlighting the Foundation’s mission to support Gold Star families, first responders, veterans, and their families, and to honor those who serve.
Coin Specifications
Defines the three denominations and their physical characteristics: up to 100,000 $5 gold coins (8.359 g, 0.850 inch, 90% gold); up to 500,000 $1 silver coins (26.73 g, 1.500 inches, 90% silver); up to 750,000 half-dollar coins (11.34 g, 1.205 inches, standard clad) and makes all coins legal tender.
Designs
Outlines design requirements, including an emblematic theme of 250 years of service, mandatory inscriptions (value, year 2028, and Liberty, In God We Trust, United States of America, E Pluribus Unum), and a selection process involving the Secretary, consultation with the Foundation, and Arts Commission review.
Issuance
Specifies that coins will be minted in uncirculated and proof qualities and issued only during 2028. Sets the issuance window and quality controls to ensure collectible standards.
Sale
Stipulates how coins are priced (face value plus surcharge plus design/issuance costs) and allows bulk sales at a discount; permits prepaid orders with a reasonable discount.
Surcharges
Creates surcharge levels by denomination, directs that the proceeds go to the Foundation, provides for audits under federal law, and imposes a programmatic cap to avoid exceeding statutory issuance limits.
Financial Assurances
Requires the Secretary to ensure no net cost to the U.S. Government and to refrain from disbursing funds to the Foundation until total design and issuance costs are recovered.
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Explore Finance in Codify Search →Who Benefits and Who Bears the Cost
Every bill creates winners and losers. Here's who stands to gain and who bears the cost.
Who Benefits
- Stephen Siller Tunnel to Towers Foundation as the designated recipient of surcharge proceeds.
- Gold Star families benefiting from the Foundation's mortgage-free homes, scholarships, and related programs.
- Families of first responders and veterans supported by Foundation programs.
- First responders and veterans who benefit from enhanced support and resources funded by the surcharges.
- Communities supported by memorial projects and disaster-response resources tied to the Foundation’s mission.
Who Bears the Cost
- The U.S. Treasury may incur upfront minting and issuance costs, but the bill requires these costs to be fully recovered by surcharges so there is no net cost to taxpayers.
- Coin buyers who pay the surcharge as part of the purchase price.
- Coin dealers and distributors who manage bulk sales and fulfill prepaid orders (indirectly affected by pricing and demand).
- The Treasury’s administrative and auditing costs to ensure compliance with section 5134 and related provisions.
- The designated recipient organization may face administrative scrutiny under the audit requirements.”
Key Issues
The Core Tension
Balancing national commemorative value and fiscal prudence with a private foundation’s fundraising objectives; ensuring surcharges cover all costs without creating market distortions or dependency on a single organization.
The bill creates a dedicated funding stream for a private foundation through a commemorative coin program, which raises questions about the balance between national symbolism and fiscal discipline. While the statute guarantees no net cost to the government and requires full cost recovery before any transfer, the program depends on voluntary market demand for collectibles and the reliability of surcharge revenues to sustain ongoing foundation programs.
The narrow issuance window (calendar year 2028) concentrates production and distribution, which could affect market liquidity for collectors and potential resale values. The design-review framework also concentrates influence among a government secretary, a philanthropic foundation, and established arts-advisory bodies, raising questions about how much public oversight should shape commemorative coin aesthetics and messaging.
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