Los Angeles Games could get 2028 U.S. commemorative coins
- Published: Jun 28, 2022, 12 PM
Legislation introduced June 13 in the House of Representatives seeks a four-coin commemorative coin program recognizing the 2028 Los Angeles Olympics Summer Games and Paralympics.
H.R. 8047 was introduced by Rep. Brad Sherman, D-Calif.
The proposed bill seeks the production and issuance of:
➤ Up to 50,000 gold $5 coins containing not less than 90% gold.
➤ Not more than 500,000 1.5-inch silver dollars containing not less than 90% silver.
➤ Not more than 300,000 copper-nickel clad half dollars.
➤ Not more than 100,000 Proof 3-inch 5-ounce .999 fine silver dollars.
The proposed bill includes a provision that if the Treasury secretary determines, “based on independent, market based research conducted by the U.S. Olympic and Paralympic Committee, that the mintage levels described under this subsection are not adequate to meet public demand, the Secretary may increase the mintage levels as the Secretary determines is necessary to meet public demand.”
The sale price of each $5 coin is to include a $35 surcharge, a $10 surcharge will be included in the purchase price of each 1.5-inch dollar, a $5 surcharge for each half dollar and a $50 surcharge for each 5-ounce dollar.
The net surcharges, after the U.S. Mint recoups its production and associated costs, are to be paid to the United States Olympic and Paralympic Properties “for the objects and purposes related to the hosting of the 2028 Olympic and Paralympic Games and to aid in the execution of its legacy programs, including the promotion of youth sports in the United States.”
The mintages for the gold $5 coins, 1.5-inch silver dollar and copper-nickel clad half dollar reflect combined maximums for Proof and Uncirculated versions.
The Treasury secretary, according to H.R. 8047, “is encouraged to develop and execute a marketing and educational program, including appropriate cooperative marketing opportunities with the United States Olympic and Paralympic Properties and its licensees, to promote and sell the coins authorized under this Act.”
The legislation stipulates that the Treasury secretary may make bulk sales of the coins available at a “reasonable” discount and provide the vehicle for acceptance of pre-paid orders preceding the official issue date of Jan. 1, 2028.
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