Modern commemorative coins authorized by Congress and produced by the United States Mint date from the introduction of the George Washington 250th Anniversary Half-Dollar in 1982. Congress has authorized a total of 56 commemorative coin programs through 2014 to honor people, places, events and institutions of significance in American history and culture. Surcharges from the sales of these coins are authorized to help fund a variety of organizations and projects that benefit the public at large. United States Mint commemorative coin programs have collected $474,929,344 in surcharges over the past 27 years for many worthy recipient organizations.
Commemorative coins are beneficial to both the numismatic community and recipient organizations, but they also highlight our Nation’s history. To ensure that commemorative coin programs reap the benefits of the 1996 reforms, the United States Mint must continue to execute and oversee these coin programs in a conscientious, prudent and business-like manner.
The matching funds criterion established by the Commemorative Coin Reform Act of 1996 (CCRA), as amended by Title II of Public Law 108-15 (April 23, 2003), requires commemorative coin programs to link public funding of special projects to private support by requiring recipient organizations to show receipts of donations from private sources “in an amount that is equal to or greater than the total amount of the proceeds of such surcharge derived from the sale of such numismatic item.” The CCRA makes commemorative coin program recipient organizations partners in bearing the risks of commemorative coin programs, and it assures that the United States Mint recovers its costs of operating such coin programs.
The estimated program margin is total net revenue minus net operating cost less surcharges collected. This quarterly interim analysis was prepared using the accrual basis of accounting.
2008 Bald Eagle Commemorative Coin Program
Public Law 108-486, December 23, 2004
The 2008 Bald Eagle Commemorative Coin Program launched on January 15, 2008. This was a three-coin program, including a $5 gold coin, a silver dollar and a clad half-dollar, with mintages of 100,000 coins, 500,000 coins and 750,000 coins, respectively. Special products included a Three-Coin Proof Set, a Young Collector’s Set and a Coin and Medal Set. The silver dollar was also included in the 2008 United States Mint American Legacy Collection™ introduced in September 2008. This was the only commemorative coin program in 2008.
Analysis of Financial Position
Sales of the Bald Eagle Commemorative Coins began on January 15, 2008, and ended December 12, 2008. Through the end of the calendar year 2008 (first quarter of fiscal 2009), the United States Mint shipped a total of 828,840 coins, generating total program revenue of $44.4 million. The program collected $7.7 million in surcharges and resulted in profits of approximately $6.6 million.
Total surcharges paid to the recipient organization, The American Eagle Foundation of Tennessee, amount to $ 7,760,051. The final payment of $2,597,912 was paid to the recipient organization in early May 2009.
2009 Abraham Lincoln Commemorative Coin Program
Public Law 109-285, September 27, 2006
The Abraham Lincoln Commemorative Coin Program consists of a proof and uncirculated silver dollar coin with a maximum mintage of 500,000 coins across both options. Sales of the 2009 Abraham Lincoln Commemorative Silver Dollar began on February 12, 2009, with the uncirculated version selling out on March 26 and the proof version selling out April 14. As of June 30, a total of 449,407 coins had been sold (321,815 proof and 127,592 uncirculated). A special United States Mint Lincoln Coin and Chronicles Set, including a proof version of the 2009 Abraham Lincoln Commemorative Silver Dollar, will be available in the fall. A surcharge of $10 per coin is authorized to be paid to the Abraham Lincoln Bicentennial Commission to further its work in planning the celebration of the bicentennial anniversary of Lincoln’s birth.
2009 Louis Braille Commemorative Coin Program
Public Law 109-247, July 27, 2006
The Louis Braille Commemorative Coin Program consists of a proof and uncirculated coin with a maximum mintage of 400,000 coins across all product options. The uncirculated silver dollar coin is also available in an easy-open capsule for those wishing to feel its tactile features. Sales of the 2009 Louis Braille Bicentennial Silver Dollar began March 26, 2009, and have been brisk. As of June 30, 2009, a total of 170,769 coins had been sold (111,108 proof, 42,028 uncirculated and 17,633 uncirculated in easy-open capsule). A special United States Mint Braille Education Set, including an uncirculated version of the 2009 Louis Braille Bicentennial Silver Dollar, will be available in the fall. A surcharge of $10 per coin is authorized to be paid to the National Federation of the Blind to support its programs to promote Braille Literacy.
2010 American Veterans Disabled for Life Commemorative Coin Program
Public Law 110-277, July 17, 2008
Designs are in development in conjunction with the recipient organization, the Disabled Veterans’ LIFE Memorial Foundation. Designs were presented to the U.S. Commission of Fine Arts (CFA) on May 21, 2009, and to the Citizens Coinage Advisory Committee (CCAC) on June 3, 2009.
2010 Boy Scouts of America Centennial Commemorative Coin Program
Public Law 110-363, October 8, 2008
Designs are in development in conjunction with the recipient organization, the Boy Scouts of America. Designs were presented to the CFA on June 18, 2009, and to the CCAC on June 29, 2009.
2011 United States Army Commemorative Coin Program
Public Law 110-450, December 1, 2008
Work on the coin designs is ongoing.
2012 National Infantry Museum and Soldier Center Commemorative Coin Program
Public Law 110-357, October 8, 2008
2014 Civil Rights Act of 1964 Commemorative Coin Program
Public Law 110-451, December 2, 2008