James Monroe Gold and Silver Commemorative Coins Proposed
H.R. 4329: James Monroe Commemorative Coin Act
Summary: Proposal for to issue coins in commemoration President James Monroe. The program would include $50 gold coins, $1 silver coins, and 50 cent clad commemorative coins for 2016.
Sponsor: Rep. Rob Wittman
Date Introduced: December 16, 2009
Current Status: Referred to Committee
The recently introduced bill seeks commemorative coins issued for the fifth President of the United States, James Monroe. The program includes three coins in different denominations and compositions. The coins would be issued in the year 2016, which will mark the bicentennial of the election of James Monroe as President.
The gold coins specified in the proposal would contain one troy ounce of gold and have a face value of $50. This is unusual for a commemorative gold coin issue, which typically has a face value of $5 or $10 and lower gold weight. The silver coins would have a face value of $1 and composition of 90% silver. The half dollars would be have the same specifications currently used for the fifty cent denomination.
Each coin of the program would have a specified maximum authorized mintage. The $50 gold coins would be limited to 20,000, the $1 silver coins would be limited to 275,000, and the half dollars would be limited to 50,000 coins.
The bill contains specific guidance with regards to the obverse and reverse designs of the coins. The obverse would bear a side profile image of James Monroe based on a portrait by Rembrant Peale created in 1830. The reverse of the coin would feature an image of the Monroe birthplace based on an etching published in 1830.
Surcharges added to the cost of each coin would be payable to the James Monroe Memorial Foundation. The funds would be used for the development of the reconstructed James Monroe birthplace, associated buildings, and visitor center; supporting education programs related to Monroe; and the preservation of artifacts related to Monroe.
The bill has been referred to committee. This is currently the only proposal for a commemorative coin program in the year 2016.
