H.R. 4382: America’s Olympic and Paralympic Games Commemorative Coins Act

This bill, titled the "America’s Olympic and Paralympic Games Commemorative Coins Act," proposes to create commemorative coins in celebration of the upcoming 2028 Summer Olympic and Paralympic Games in Los Angeles, California, and the 2034 Winter Olympic and Paralympic Games in Salt Lake City, Utah.

Coin Specifications

The bill outlines the following types of coins that the Secretary of the Treasury would mint for both Games:

• $5 Gold Coins: Up to 100,000 coins weighing 8.359 grams and containing at least 90% gold.
• $1 Silver Coins: Up to 500,000 coins weighing 26.73 grams and containing at least 90% silver.
• Half-Dollar Clad Coins: Up to 300,000 coins weighing 11.34 grams, meeting standard half-dollar specifications.
• Proof Silver $1 Coins: Up to 100,000 coins weighing 5 ounces and containing .999 fine silver.

Legal Tender and Mintage Limits

All coins produced under this legislation will be considered legal tender. The Secretary of the Treasury has the authority to increase the mintage limits if there is sufficient demand based on research conducted by the U.S. Olympic and Paralympic Committee.

Coin Designs

The designs of the coins are to reflect the participation of U.S. athletes in the Olympic Games. Each coin will include inscriptions that designate the coin's value, the year (2028 or 2034), and phrases like "Liberty," "In God We Trust," and "United States of America." The design selection will involve consultations with relevant entities, including Olympic property representatives and the Commission of Fine Arts.

Issuance Period

Coins for the 2028 Games may be issued during a one-year period starting on January 1, 2028, while those for the 2034 Games can be issued during a similar one-year period starting on January 1, 2034.

Sale and Pricing

The coins will be sold at a price that includes:

• The face value of the coin.
• A surcharge (e.g., $35 for the $5 coin, $10 for the $1 coin, $5 for the half-dollar coin, and $50 for the proof silver $1 coin).
• The cost of minting, including labor and materials.

Bulk sales can be offered at discounts, and prepaid orders will also be accepted prior to issuance.

Revenue Distribution

Proceeds from the surcharges collected will be directed to support the U.S. Olympic and Paralympic Properties for the hosting of the Games and related programs, such as youth sports initiatives. The properties will be subject to audit requirements for these funds.

Financial Assurances

The Secretary of the Treasury must ensure that the minting and issuing of these coins do not result in any costs to the federal government. Full recovery of the coin issuance costs must be achieved before any funds are distributed to the designated recipients.

Marketing Measures

The Secretary is encouraged to develop marketing strategies to promote and sell the newly minted coins, including collaborations with Olympic and Paralympic organizations.

Relevant Companies

None found.