H.R. 6126: United States Foreign Service Commemorative Coin Act

The United States Foreign Service Commemorative Coin Act seeks to honor the Foreign Service of the United States for its contributions to diplomacy and foreign relations. Specifically, the bill mandates the Secretary of the Treasury to mint and issue commemorative coins in recognition of the Foreign Service, celebrating its historical significance and role in international diplomacy.

Key Provisions of the Bill

1. Short Title

The legislation will be known as the United States Foreign Service Commemorative Coin Act.

2. Findings

The bill outlines various historical milestones, noting that:

• The U.S. has engaged in diplomacy since 1775, with significant figures like Thomas Jefferson and Benjamin Franklin playing key roles.
• The Department of State was established in 1789, which initial services for diplomacy and consular activities.
• The Foreign Service has evolved since its inception, with notable reforms and acts aimed at professionalizing and unifying diplomatic efforts across history.
• Several organizations and histories have been developed to preserve and honor the contributions of U.S. diplomats.

3. Coin Specifications

The act stipulates the minting of three types of coins:

• $5 Gold Coins: Up to 50,000 coins, each weighing 8.359 grams and containing at least 90% gold.
• $1 Silver Coins: Up to 400,000 coins, each weighing 26.73 grams and containing at least 90% silver.
• Half-Dollar Clad Coins: Up to 750,000 coins, each weighing 11.34 grams.

These coins will be deemed legal tender and classified as numismatic items.

4. Coin Design

The designs of the coins must reflect the importance of diplomacy and the contributions of the Foreign Service. They will include:

• The value designation of the coin.
• The year 2029.
• Inscriptions such as "Liberty," "In God We Trust," and "United States of America."

The Secretary of the Treasury will select the designs in consultation with relevant organizations.

5. Coin Issuance

Coins minted under this act may be offered in uncirculated or proof quality, with issuance allowed only from January 1, 2029, for one year.

6. Sale of Coins

The Secretary of the Treasury will set the sale price based on the coin’s face value, a surcharge, and costs associated with its design and minting. There will also be provisions for bulk sales and discounts for prepaid orders.

7. Surcharges

A surcharge will be applied to each coin sold, designated as follows:

• $35 for each $5 coin
• $10 for each $1 coin
• $5 for each half-dollar coin

The funds generated from these surcharges will support the Association for Diplomatic Studies and Training, which is responsible for preserving diplomatic history.

8. Financial Assurances

The Secretary must ensure that the minting and issuing of coins does not result in a net cost to the United States Government and that all costs are recovered before funds are distributed to supporting organizations.

Relevant Companies

None found