Coin and Medal Related Bills Enacted by the 113th Congress

legislationMany aspects of how the United States Mint operates and the coins that they are allowed to produce are dictated by specific laws enacted by Congress. As such, tracking coin and medal related bills introduced and enacted by Congress can provide collectors with a glimpse of things to come.

The 113th United States Congress convened on January 3, 2013 and ended on January 3, 2015. During this time, there were two bills enacted to authorize future commemorative coin programs and nine bills enacted to authorize the award of Congressional Gold Medals.

This post will recap all of the enacted bills. Throughout the year, you can visit Coin Update for the all of the latest news on coin and medal related bills introduced or acted upon by Congress.

Commemorative Coin Programs Authorized Under the 113th Congress

World War I American Veterans Centennial Commemorative Coins
Public Law 113-212

Commemorative coins will be issued in 2018 to mark the centennial of World War I. The year 2018 is the 100th anniversary of the signing of the armistice with Germany ending the World War I battlefield hostilities. The program will include up to 350,000 silver dollars with obverse and reverse designs emblematic of America’s involvement in the war. The designs will be selected through a competition judged by an expert jury and chaired by the Secretary of the Treasury.

Surcharges of $10 per silver dollar will be distributable to the United States Foundation for the Commemoration of the World Wars to assist the World War I Centennial Commission in commemorating the centenary of World War I.

National Park Service Centennial Commemorative Coins
Public Law 113-291, Section 3055

A single section of a 697-page law authorized a 2016 commemorative coin program to mark the centennial of the National Park Service. The program will include up to 100,000 $5 gold coins, up to 500,000 silver dollars, and up to 750,000 clad half dollars with designs emblematic of the 100th anniversary of the National Park Service.

Surcharges of $35 per gold coin, $10 per silver dollar, and $5 per half dollar will be distributable to the National Park Foundation for projects and programs that help preserve and protect resources under the stewardship of the National Park Service and promote public enjoyment and appreciation of those resources.

Other Comments

There was one other commemorative coin bill which was almost enacted. The bill H.R. 2866 sought the issuance of commemorative $5 gold coins, silver dollars, and half dollars to mark the centennial of Boys Town in 2017. The bill was passed in the House of Representatives, and then passed in the Senate with changes. The bill was sent back to the House to confirm the changes, but the bill died without any further action.

For those looking ahead, the line up of commemorative coin programs currently authorized for future years include Mark Twain (2016), National Park Centennial (2016), Lions Clubs International Centennial (2017), and World War I Centennial (2018).

There was one coin related bill enacted, which did not deal with a commemorative coin program. This was the Collectible Coin Protection Act (Public Law 113-288), which will serve to broaden the existing Hobby Protection Act by making it unlawful to sell unmarked replica coins.

Congressional Gold Medals Authorized Under the 113th Congress

Congressional Gold Medals are designed and struck by the United States Mint, which will also typically offer bronze duplicate versions of the medals for sale to the public. Some of the medals authorized early within the 113th Congress have already been issued or have had design candidates prepared and released.

16th Street Baptist Church Bombing Victims Medal
Public Law 113-11

The Congressional Gold Medal was authorized to be posthumously awarded to Addie Mae Collins, Denise McNair, Carole Robertson, and Cynthia Wesley to commemorate the lives they lost 50 years ago in the bombing of the Sixteenth Street Baptist Church, which served as a catalyst for the Civil Rights Movement.

This medal was awarded on September 10, 2013, when the US Mint also began selling bronze duplicate versions.

First Special Service Force Medal
Public Law 113-16

The Congressional Gold Medal was authorized to be awarded collectively to the First Special Service Force, also known as the “Devil’s Brigade” in recognition of their dedicated service during World War II. The First Special Service Force was an elite joint American-Canadian commando unit which fought battles during World War II at high altitudes, in rugged terrain, and severe weather.

In March 2014, the US Mint provided 18 different obverse and 21 different reverse design candidates for the medal to the Commission of Fine Arts and Citizens Coinage Advisory Committee for review and recommendation. You can view the recommendations of each group as well as all design candidates here and here.

American Fighter Aces Medal
Public Law 113-105

The Congressional Gold medal was authorized to be awarded collectively to the American Fighter Aces in recognition of their heroic military service and defense of our country’s freedom throughout the history of aviation warfare. An American Fighter Ace is a fighter pilot who served honorably in a United States military service and destroyed five or more confirmed enemy aircraft in aerial combat during a war or conflict in which American armed forces participated.

In October 2014, the US Mint provided 6 different obverse and 9 different reverse design candidates to the CFA and CCAC for review and recommendation. You can view the full slate of design candidates here and the recommendations of each group here and here.

Doolittle Tokyo Raiders Medal
Public Law 113-106

The Congressional Gold Medal was authorized to be awarded to the World War II members of the Doolittle Tokyo Raiders in recognition of their military service during World War II. The Doolittle Raid was an air raid by the United States on the Japanese Home Islands, serving as retaliation for the Japanese attach on Pearl Harbor and demonstrating that Japan was vulnerable to American air attack.

Also in October 2014, the US Mint provided 16 different obverse and 9 different reverse design candidates to the CFA and CCAC for review and comment. The design candidates and recommendations can be seen at the links cited for the American Fighter Aces Medal.

Civil Air Patrol Medal
Public Law 113-108

The Congressional Gold Medal was authorized to be awarded to the World War II members of the Civil Air Patrol in recognition of their humanitarian, combat, and national services provided during a critical time for our nation.

The medal was awarded on December 10, 2014 when the US Mint also began sales of a bronze duplicate versions of the medal.

Shimon Peres Medal
Public Law 113-114

The Congressional Gold Medal was authorized to be awarded to Israeli President Shimon Peres for maintaining strong bilateral relations between Israel and the United States.

The medal was awarded during a ceremony held on June 26, 2014 when the US Mint also began selling bronze duplicate versions of the medal.

Monuments Men Medal
Public Law 113-116

The Congressional Gold Medal was authorized to be awarded to the Monuments Men in recognition of their heroic role in the preservation, protection, and restitution of monuments, works of art, and artifacts of cultural importance during and following World War II.

65th Infantry Regiment Medal
Public Law 113-120

The Congressional Gold Medal was authorized to be awarded to the 65th Infantry Regiment, known as the “Borinqueneers”, in recognition of its pioneering military service, devotion to duty, and many acts of valor in the face of adversity. This Puerto Rican regiment of the United States Army participated in World War I, World War II, the Korean War, the most recent conflicts in Afghanistan and Iraq, and in other overseas contingency operations.

Jack Nicklaus Medal
Public Law 113-210

The Congressional Gold Medal was authorized to be awarded to professional golfer Jack Nicklaus in recognition of his service to the Nation in promoting excellence, good sportsmanship, and philanthropy.

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Comments

  1. GoldFishin says

    @cagcrisp-

    Cagcrisp said “2015 BHOF inductees Inducted First Time on Ballot: Pedro Martinez, Randy “Big Unit” Johnson and John Smoltz.
    Dang. I would like to Start a rotation with these Three…”

    Agreed….would be almost as good as a HOF rotation of Glavine, Smoltz, and Maddux! Can’t tell I am a Braves fan, huh? I still can’t believe those 3 guys were all in the same rotation for so many years. Those were the days….

    gold coins, silver coins, circus coins….. 😉 just so I can stay on topic

  2. VaBeachEd says

    GoldFishin,

    I left you a message on the prior page. Thank you and I hope it is warm where you live.

  3. GoldFishin says

    @VaBeachEd- it was very cold today, but the sun was out so it was tolerable. I read your earlier post…I read almost every post every day, if I miss a few days I try to catch up. It is my “relaxing time” that I enjoy as well as some market news sites I frequent. I almost always have a stream of a hockey, football, or basketball game going on also. I really like hearing what folks like to collect and a little about their life…it helps me to remember their blog post history, which makes current posts more relevant. By the way, sorry about your loss.

  4. VaBeachEd says

    stephen m,

    Pinehurst has them in Pre-Sale……
    SKU: 12148
    2015-W Proof $1 American Silver Eagle NGC PF70UC (Brown Label)
    * Pre-Sale item; the estimated ship date for item is January 16th *

    Read More
    Tier Pricing
    Qty Check or Wire Credit Card
    1 to 1
    $87.33
    $89.95
    2 to 9
    $83.45
    $85.95
    10 to 19
    $81.50
    $83.95
    20 to 99
    $79.56
    $81.95
    100 to And Up
    $77.62
    $79.95

    http://pinehurstcoins.com/catalogsearch/result/?q=2015-w I would call about shipping cost.

  5. Eagle One says

    How is it that a PCGS SP-69 2014-D Enhanced SAC $1 typically sells on eBay for $170-180 and the NGC SP-69 2014-D Enhanced SAC $1 typically sells on eBay for $55-65? That is a 309.0% difference. Can the holder actually be worth that much more?

  6. GoldFishin says

    @jagfan- were those colorized Marlins ever for sale yet? I would like to pick one up to give to my nephew. He is in college at a coastal university and has become quite a fisherman. He caught a record cobia this past year in the waterway where nobody would expect to catch one. I think he would really like the coin. I have seen him wearing shirts that look like some of the artists work. I admit I have never heard of the artist, but the price for the coin isn’t unreasonable for a gift.

  7. VaBeachEd says

    GoldFishing,

    I also try to read daily, but when I am at my cattle farm (120 miles from VA Beach) I have to hook up the laptop and get a signal, so not so much.
    Thank you, I also lost my brother in 2010, my mother in 2013 and rented my house out at the beach a few years ago to move in with my parents (also at the beach) to help out. My Dad will be 93 March 1st, so I am selling out cattle and farm towards years end, when calves are larger. My parents were 2 months shy of their 72nd Annv. when my mom passed away, so it is hard to leave my father alone very long. He still drives and works in the yard, but always had my mother, except when he was with Patton in WW II. I enjoyed the chat, I hope you have a good evening.

  8. VaBeachEd says

    GoldFishin,

    Where is your nephew in college? I caught the Virginia State Record Atlantic Blue Marlin in 1978 also World record for the year of 1978. It still holds VA state record and one record it will always hold is, it was the ‘First Fish Ever Caught Off Virginia (on rod & reel) over 1,000 lbs”. It weighed 1,093 lbs. 12 ozs. and 14’ 7″ long. They put a copy on display at VA Beach, but I have the original hanging in my den. Cobia is a nice game fish and good eating. I congratulate him. We catch most of our cobia in the mouth of the Chesapeake Bay and the Chesapeake Bay Bridge Tunnel.

    I am way “OFF TOPIC”, so I better go and get back to coins or go to bed!!! Too late for Fishing and hunting stories.

  9. GoldFishin says

    @VABeachEd- he attends ECU in Greenville…not so far from you. I don’t know all the numbers, I have a picture of it. But my sister told me that if he would have caught it in the Big tourney they have every year it would have won last year’s tourney. He was very excited. Funny story….he was out in the boat with his girlfriend really not expecting to catch anything(well, not anything) all of a sudden the cobia hit and the two of them ended up having a great memory together. He’s a big kid, 6’5″ but agile and is absolutely hooked on the big game fish. He was telling me at Christmas that they were catching 700+ lb. tuna off of Hatteras, but he had other obligations and couldn’t get out there with his friend who is a commercial fisherman and mainly responsible for teaching him a lot of what he knows. He learned a lot of his boating skills on Lake Gaston where my sister had a summer home and also time growing up in Charleston, S.C.

    Gold coins, silver coins, marlin coins…to stay on coins. 😉

  10. jhawk92 says

    @”Cool” Dave –

    I’ve been off the blog for a couple of days. I am still interested in the Lincoln set. Let’s figure out a way to connect.

  11. jhawk92 says

    For those collecting DMPL pucks, has anyone seen any more Everglades with Mercanti signature? MCM had a few but sold out before I got mine to finish the 2014 set. Hope I don’t have to add this one to the “hunting” list like the 2010.

  12. The Real "Cool" Dave says

    Guess that puts another day into the books. Time to sign off now with the National Anthem and then either a long (TV) “beeeeeeeeeeeeee” sound or white noise . . . then disembodied voices talking in that noise.

    Good Night all !

    Mr. “Cool” Dave 🙂
    ————————————————————————————-
    P.S.

    @jhawk92 says

    “@”Cool” Dave –
    I’ve been off the blog for a couple of days. I am still interested in the Lincoln set. Let’s figure out a way to connect.”

    OK

  13. stephen m says

    VaBeachEd, I have looked at Pinehurst,. I’ve been getting from MCM every year . Pinehurst is about 2.50 cheaper but I’ve never purchased from them before. I may wait a while and see what comes up. I got the 2015 proof, 2 ea, from the mint yesterday, both look really good, flawless. I’m looking forward to the 30th ASE anniversary to see what the mint comes up with. Thanks

  14. stephen m says

    VaBeachEd, M.C.W. Inc. pre sale @$84.88 PF70 ASE NGC w/ free shipping. They appear to be the lowest priced right now. Thanks again.

  15. Keep Calm & Stack On says

    Brad, well though, at least we have a little technique to keep in our back pocket to give us little guys an advantage from time-to-time over the big boys, which often drive this industry. We call it our hobby though it’s really an industry IMO. Not withstanding a dealer taking your approach with multiple accounts to ‘check’ availability which I feel is highly likely, perhaps we’ll have another tool at our disposal to gain a leg up from time-to-time.

  16. Keep Calm & Stack On says

    GoldFishin – good to to hear it work out! You must have paid by CC, as it usually takes me about 3 weeks to receive an order. I called them yesterday and they confirm that they send them out just as they receive them so that was reassuring. I appreciate you saying something and want to return the favor so if they’re something I can keep an eye out for, let me know. I need to spend more time analyzing my sector plays but end up spending more time searching for sales, and after a day of work the mindlessness of it always for some compression. A few months ago you commented about some dealers selling out which appears to have been the case. I feared that may impact SP/DMPL ‘Glades availability and though it may be premature to draw a conclusion, the numbers presently would support your initial observation. Will be interesting to watch how the market evolves if these guys cease their grading operation on these pucks.

  17. Bernie in FL says

    Off topic a bit. But EXTREMELY Important…..

    Just a heads up for those of you that sell or flip coins on ebay. Just remember that ebay sends the IRS a 1099-K for sales that add up over $20,000 or 200 items in a one year period.

    So, remember if you sell on ebay and have over $20,000 in sells, regardless of items or 200 total items the IRS has notified of this. This 1099-k started in 2013 for those of you that just fell off your “Computer Chairs” as I did in 2013 when a friend told me.

    So just a heads up for all you sellers on ebay. Ebay will not tell you. You will be responsible for 20% gains to the IRS for 2014 if you meet the above criteria.

    As ebay will not notify you of this and makes it your responsibility to down load the 1099-K yourself.

    Remember, I am just the messenger here so don’t shoot me 🙂

  18. Brad says

    Bernie,

    Yeah, I think a lot of sellers are already aware of that. And, in order to get the 1099-K you have to meet BOTH criteria. So, if you sell a handful of coins for $100,000 but only have 20 transactions, then you won’t get the form. Likewise, if you sell 1,000 small dollar items that only add up to $2,000, you won’t get the form then either. Only if you pass both $20,000+ in payments and 200+ in transactions will you get the form.

    Still, it is important to keep track of. I always make sure I come in under both criteria each year just in case, since PayPal still does not have my number on file. Since I know they won’t be needing it, I keep clicking “remind me later” on the screen that comes up asking for it almost every time I log on. I figure if there’s one less website out there with my SS# on file, that’s fine by me. I can just see the crawl on “Good Morning America” now. “Popular website PayPal hit by hackers, millions of Social Security numbers stolen.” No thanks!

  19. IPS_STUFF says

    @Bernie in FL

    Let me point out a correction on the 1099-K RULE this is an AND rule and not an OR rule.

    In order to receive the 1099k you must sell over $20,000 in value AND have over received 200 payment transactions or more.

    Secondly you are correct that EBAY will not tell you, but PAYPAL will start to notify you once you exceed a certain threshold of dollars and transactions.

    I have monitored this rules and my status closely for the last two years.

    Thanks for letting me clarify the issue as I have read from various sources.

  20. Bernie in FL says

    @Brad and IPS_STUFF

    Thanks for clearing that further for me. Seems I got rather so so info the first time. This makes more since but I never saw it coming in 2013 when it just showed up. AHHHHHHH!!!!!

    But the 200 plus $20,000 seems no problem to stay under now that I know.

    Thanks again

  21. Keep Calm & Stack On says

    Guys – so assuming that the rule was met with $20,000 worth of product sold AND 200 items, on this 1099-K you would have to report a Cost Basis for EACH transaction?

    And an original purchase date to calculate whether it is short or long-term gain?

    Just curious… thanks

  22. The Real "Cool" Dave says

    @Keep Calm & Stack On says,January 9, 2015 at 12:25 pm
    “Guys – so assuming that the rule was met with $20,000 worth of product sold AND 200 items, on this 1099-K you would have to report a Cost Basis for EACH transaction?”

    Yes, if reporting as a Capital Gain and not considered a business.

  23. Bernie in FL says

    @Keep Calm & Stack On

    Yep! Imagine getting hit with this in 2013 and going back and trying to find ALL the purchases over 10’s of years and matching them with ALL the sells to see if you have any gains to off set losses. Then if you do have a gain you add that to your tax’s for 2014. But if you have a loss you get No deduction.

    But the best advice is to sell less than $20,000 “AND” 200 items in one calendar year and you do not have to keep these almost impossible records.

  24. Bernie in FL says

    @Brad

    Thanks for clearing up the “AND” part of the $20,000 and 200 items. My own CPA told me that it was $20,000 “OR” 200 items. I never got the “Both” need to be achieved to get the 1099K. Seems my own CPA read it wrong.

    Thanks for getting it right and straightening it out. If you read the 1099K from Paypal it seems you get a 1099K for breaking the $20,000 “OR” the 200 items. But you have it right! You need to break BOTH.

    Thanks for the Correct info……..

  25. Bernie in FL says

    I just got this off the PayPal Web Site on this 1099k

    Starting in 2011, PayPal is required by the IRS to report the sales of goods and services for customers who, in a single year receive:

    -More than $20,000, AND

    -200 or more payments
    .
    The new IRS 6050W changes apply to all payment providers, including PayPal. This includes payments received after January 1, 2011, with the first reports sent to the IRS in early 2012.

    Hope this help someone in the Future not get his Butt caught out in the Wind 🙂

  26. jsm says

    Anyone know anything about the 2015 Reverse Proof Pandas that are being sold at the fun show? Seems they were made to commemorate the Fun show 60th Anniversary.

  27. Keep Calm & Stack On says

    You know guys, with the internet sales tax becoming ever more far reaching, this ebay precedent in 2011, and the inability of our Federal Government to get a handle on THEIR spending problem of OUR money…, not to be the spreader of bad news, though we better enjoy the upper limit (aka ‘the good times’) now .., ’cause you know Change is coming and it’ll mean less change in our pockets!

  28. Keep Calm & Stack On says

    Oops, I forgot, gold coins, silver coins, circus coins, reverse proof silver pandas….

  29. Bernie in FL says

    @Keep Calm & Stack On

    It seems as you said. Better days are not yet to come. But yet behind us. Well put….

  30. Brad says

    Bernie,

    You’re welcome! Like I said earlier, I always make sure I stay under BOTH criteria every year just to be safe. I don’t know if PayPal would force me to give them my SS# as soon as I pass one of the two thresholds or not. I really don’t want them to have my number on file, just in case they get hacked.

  31. Bernie in FL says

    Brad,

    Perfectly said. I even went into Paypal to see if I could change or delete my SSN. But as you may have guessed. I was not able to. I will give Paypal a call and see if they absolutely have to have my SSN. Seems I could always close my PayPal account and reopen another without the SSN.

    I let you know what happens…..

  32. MarkInFlorida says

    You guys know that even if no one sends the IRS a 1099 for your sales, everyone is supposed to report all profits made on selling stuff, whether on Ebay or flea market, right. Of course if you took a loss or broke even there is no profit to be taxable.

  33. Bernie in FL says

    Mark,

    Absolutely. But tell that to the yard sale individual 🙂

    But the only thing that gets me. In stocks and bonds you can carry over losses for 10 years if memory serves me. But in these sales you report and pay 20% on gains, but cannot deduct losses for any following years.

    Weird…….

  34. Brad says

    Mark,

    Yes, I pay the capital gains taxes on the gold & silver coins I sell, despite the lack of a 1099-K. However, I also sell a lot of old junk I’ve accumulated over my lifetime. Silly stuff that I often times have no clue how much I have in it and certainly don’t want to have to fool with reporting it on my taxes just to match the amount on a 1099-K!

  35. Bernie in FL says

    Brad

    That’s exactly what happen to me in 2013. My Father and Mother-in-law retired to a nursing home and we just put up all the Junk on ebay for sale. Took a year to get read of a lot of stuff that is one mans junk and another mans treasure. It put us over 200 items (trust me that was Not hard) and over $20,000 for the year.

    Then I get hit with a 1099K and now you can imagine the frustration of trying to figure out for my in-laws what is worth what and match it up with the sells.

  36. cagcrisp says

    Sure Glad you guys aren’t giving out Tax advise….

    Concerning……gold coins, silver coins, circus coins

  37. Brad says

    Bernie,

    Yes, I can imagine what a headache that would be. It’s exactly the type of situation I want to avoid!

    Cag,

    Ha ha!

  38. The Real "Cool" Dave says

    @Bernie
    “Then if you do have a gain you add that to your tax’s for 2014. But if you have a loss you get No deduction.”

    Not entirely true — it depends . . .

  39. Jerry Diekmann says

    Maybe OT, but it’s been the subject in this blog , regarding taxes – and Mitt Romney can make over $20 million a year and he pays NO taxes! There are two tax systems in the USA – one for the rich and powerful, and one for the rest of us. The upper middle class really get hammered by our current tax system – the actual rate we pay is much higher than the rates quoted by the IRS, after you take into consideration the alternative minimum tax (AMT), 2% exclusion on miscellaneous deductions, 10% exclusion on medical expenses, and reduced Schedule A deductions and reduced exemption credits. They even tax 85% of our social security, and the deductions against our wages were already after taxes, making part of this income a double tax. And for capital gains, you can deduct capital losses dollar for dollar against capital gains, but if you have more capital losses than capital gains, you can only deduct $3,000 per year against ordinary income (wages and pensions, etc.). The system appears to have been deliberately created to be unfair, and it is a real shame that Congress (populated by the rich) don’t choose to do the right thing and make the system fair, that is, where everyone pays their fair share. My disabled brother pays more in income taxes than Mitt Romney does, and his income is a minuscle fraction of what Romney and other people have who use the “carried interest” loophole to avoid paying their fair share of taxes, plus other special provisions for the wealthy. I’ll hop off my soapbox now, realizing that nothing good will ever probably come out from our “leaders” in DC. Wasn’t that the same title Hitler called himself – “der Führer” (the leader)?

  40. D Rittenhouse says

    @Bernie in FL,
    Yesterday you mentioned a tax rate of 20% on your eBay transactions. That rate is almost certainly incorrect. The capital gains tax rate for the taxable portion of the sale of anything the IRS has classified as a “collectible” (which includes gold, silver, and coins) is 28%.

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