Bill Seeks American Liberty Themed Circulating Coinage | Silver Coins

Bill Seeks American Liberty Themed Circulating Coinage

The Citizens Coinage Advisory Committee (CCAC) has lengthy advisable to Congress the thought of producing a series of circulating coins featuring new depictions of Liberty. Following years of inaction by Congress, several CCAC members lately became much much more vocal advocates of the plan, and it seems that these recent efforts have ultimately carried out the trick.

On June 27, 2013, a bill was introduced in the Property of Representatives which seeks to authorize the American Liberty Commemorative Coinage Plan. Broadly, the system would include the issuance of dimes, quarters, and half dollars with designs emblematic and allegoric of the notion of American Liberty. The new proposal overcomes some of what could have been regarded the sticking points of the previous attempts and strongly positions the system as an opportunity to reduce the Federal deficit.

american-liberty

Earlier proposals by the CCAC had named for the inclusion of the cent and nickel within the denominations to carry new Liberty-themed styles. Considering that these two denominations price much more than their respective face values to make, any increased demand for these coins would essentially outcome in a reduction in overall seigniorage generation. With the cent and nickel removed from the new proposal, any incremental coin production would directly boost seigniorage.

Earlier proposals have also called for the annual Liberty themed design and style to temporarily displace the present Presidential portrait which seems on the denomination. There is typically dissent or controversy which result from any attempts to displace a President from coin or currency. The new proposal specifically calls for the design featuring the Presidential portrait to be issued concurrently with the Liberty design and style.

Finally, the new proposal especially describes the popularity of collecting the coins of the 50 State Quarters Plan, which had resulted in larger production and enhanced seigniorage generation estimated at $ 3 billion over the course of the plan. The new Liberty themed coins are pointed out as likely to supply a implies to substantially increase seigniorage and thereby minimize price range deficits. In truth, the bill tends to make the program contingent on a study carried out by the Secretary of the Treasury which have to show that the plan would lead to a reduction of the deficit of $ one hundred million or more over the a ten year period.

These three aspects would seem to drastically enhance the prospects for the bill becoming law.

If authorized by Congress and signed by the President, right here is what collectors can anticipate to see:

The dime and quarter dollar would alternate annually in featuring the new Liberty themed designs, starting with the dime in 2015. The obverse designs would be emblematic and allegoric of the concept of American Liberty.

The reverse of each and every coin would carry designs that:

  • depict an American bald eagle
  • depict a fasces emblematic of civil governance
  • depict the torch of expertise
  • are emblematic and allegoric of The Union
  • depict one particular or much more of the American values and attributes of freedom, independence, peace, strength, equality, democracy, and justice.

As described, the Liberty-themed styles would be issued in addition to the existing design featuring the Presidential portrait. The total number of coins bearing the Liberty-themed styles must be not significantly less than 40% and not a lot more than 50% of such coins issued for the denomination for the calendar year.

The Liberty themed half dollars would take a different approach. Starting in 2015, coins would be issued featuring a design and style emblematic and allegoric of the concept of Liberty. This design and style would be changed every single ten years. The reverse design and style would fall into one of the exact same themes described for the dime and quarter. Once once again, half dollars featuring the Presidential portrait would continue to be issued concurrently.

The bill specifically calls for the consideration of the &#8220Liberty Mini Dollar&#8221 for the half dollar design and style. This design was prepared in 1977 by United States Chief Sculptor and Engraver Frank Gasparro and seems at the beginning of this report. (The image comes from the Smithsonian Institution.)

Across all three denominations, the styles would be chosen by the Secretary of the Treasury right after consultation with the Commission of Fine Arts and assessment by the Citizens Coinage Advisory Committee. The Secretary of the Treasury may possibly mint and concern the coins in uncirculated and proof quality as determined suitable. The dimes and quarters shall be offered in bags and rolls at face worth plus issuance fees to assure availability. Ultimately, the Secretary may mint and concern the dimes, quarter dollars, and half dollars in a composition of .999 fine silver.

The bill H.R. 2535: American Liberty Coinage and Deficit Reduction Act of 2013 was introduced by Rep. Andy Barr of Kentucky. There are at the moment 4 cosponsors.

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