S. 2229: United States Foreign Service Commemorative Coin Act

This bill, known as the United States Foreign Service Commemorative Coin Act, proposes that the Secretary of the Treasury mint and issue a series of commemorative coins honoring the Foreign Service of the United States and its role in diplomacy.

Coin Specifications

The bill outlines the following details for the coins to be minted:

• Gold Coins: Up to 50,000 coins with a face value of $5. Each coin will weigh 8.359 grams and contain at least 90% gold.
• Silver Coins: Up to 400,000 coins with a face value of $1. Each coin will weigh 26.73 grams and contain at least 90% silver.
• Half-Dollar Coins: Up to 750,000 half-dollar coins. Each coin will weigh 11.34 grams and will meet the standard specifications for half-dollar coins.

Legal Tender and Sales

All coins minted under this Act will be considered legal tender in the United States. The Secretary will sell these coins at a price that includes their face value, a surcharge, and the costs associated with their design and issuance.

Prepaid orders for the coins are encouraged and will be offered at a reasonable discount. Bulk sales may also be available at a discount.

Surcharges and Distribution

Sales will include surcharges, which will be allocated as follows:

• $35 per gold coin
• $10 per silver coin
• $5 per half-dollar coin

The surcharges collected from coin sales will be donated to the Association for Diplomatic Studies and Training to support the preservation of diplomatic history through various programs.

Design of the Coins

The designs for the coins will reflect the significance of diplomacy and the contributions of the Foreign Service. They will include the year 2029 and inscriptions such as "Liberty" and "In God We Trust.” The Secretary will select the designs in consultation with relevant organizations and experts.

Issuance Timeline

The coins will be issued only during the one-year period beginning January 1, 2029. They may be available in uncirculated and proof qualities, meaning they could be sold as collectibles in addition to their face value.

Financial Assurances

The Secretary of the Treasury is tasked with ensuring that the minting and issuance of these coins does not incur any net cost to the U.S. government. Funds must be managed so that all costs associated with the coins are recovered before any funds are distributed to the recipient organizations mentioned in the bill.

Relevant Companies

None found.