PROGRAM-WIDE SUMMARY
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 57 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 $475,193,944 in surcharges over the past 28 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.
FINANCIAL REPORTING
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 ensures 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.
2009 Abraham Lincoln Commemorative Coin Program
Public Law 109-285, September 27, 2006
The 2009 Abraham Lincoln Commemorative Coin Program consisted of proof and uncirculated silver dollar coins with a maximum mintage of 500,000 across all 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. A special United States Mint Lincoln Coin and Chronicles Set, with a maximum production limit of 50,000 units, was offered for sale on October 15, 2009 and sold out on October 22, 2009. As of December 31, 2009, at the close of sales, a total of 499,934 coins had been sold (372,224 proof, including those in the special set, and 127,710 uncirculated). A surcharge of $10 per coin is authorized to be paid to the Abraham Lincoln Bicentennial Commission to help fund 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 2009 Louis Braille Commemorative Coin Program consisted of proof and uncirculated silver dollar coins with a maximum mintage of 400,000 across all product options. The uncirculated silver dollar coin was also available in an easy-open capsule for those wishing to experience its tactile features. Sales of the 2009 Louis Braille Bicentennial Silver Dollar began March 26, 2009. In addition to the standard options, a special United States Mint Braille Education Set was offered for sale on October 8, 2009. As of December 31, 2009, at the close of sales, a total of 221,709 coins had been sold (136,048 proof, and 85,661 uncirculated, including 23,746 in the easy-open capsule and 11,411 as part of the Braille Education Set). 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
Sales for the 2010 American Veterans Disabled for Life Silver Dollar began February 25, 2010. The program includes proof and uncirculated coins, with a maximum mintage of 350,000 across all product options. A program launch ceremony was held on February 25, 2010, on Capitol Hill in Washington, D.C. A surcharge of $10 per coin is authorized to be paid to the Disabled Veterans’ LIFE Memorial Foundation to support the construction of the American Veterans Disabled for Life Memorial in Washington. As of March 31, 2010, a total of 172,801 coins had been sold – 121,530 proof and 51,271 uncirculated.
2010 Boy Scouts of America Centennial Commemorative Coin Program
Public Law 110-363, October 8, 2008
Sales for the 2010 Boy Scouts of America Centennial Silver dollar began March 23, 2010. The program includes silver proof and uncirculated coins, with a maximum mintage of 350,000 across all product options. A program launch ceremony was held March 27, 2010 in Fort Worth, Texas. A surcharge of $10 per coin is authorized to be paid to the National Boy Scouts of America Foundation, which will make funds available to local councils in the form of grants for the extension of scouting in hard-to-serve areas. As of March 31, 2010, a total of 153,426 coins had been sold – 108,231 proof and 45,195 uncirculated.
2011 United States Army Commemorative Coin Program
Public Law 110-450, December 1, 2008
Discussions were held during the fiscal 2010 second quarter with the recipient organization, the Army Historical Foundation, which will use surcharges from the sale of the coins to finance the National Museum of the United States Army. The program will include gold, silver and clad proof and uncirculated coins with maximum mintage limits of 100,000 (gold), 500,000 (silver) and 750,000 (clad). Design development for the three-coin program took place in January and February 2010. Candidate designs were transmitted to the recipient organization in March for review and comment.
2011 Medal of Honor Commemorative Coin Program
Public Law 111-91, November 6, 2009
Discussions were held during the fiscal 2010 second quarter with the recipient organization, the Congressional Medal of Honor Foundation, which will use surcharges from the sale of the coins to finance its educational, scholarship and outreach programs. The program will include gold and silver proof and uncirculated coins with maximum mintage limits of 100,000 (gold) and 500,000 (silver). Design development for the two-coin program took place in January and February 2010. Candidate designs were transmitted to the recipient organization in March for review and comment.
2012 National Infantry Museum and Soldier Center Commemorative Coin Program
Public Law 110-357, October 8, 2008
Discussions were held during the fiscal 2010 second quarter with the recipient organization, the National Infantry Foundation, which will use surcharges from the sale of the coins to establish an endowment to support the maintenance of the National Infantry Museum and Soldier Center. The program will include silver proof and uncirculated coins, with a maximum mintage of 350,000 across all product options.
2013 Girl Scouts USA Centennial Commemorative Coin Program
Public Law 111-86, October 29, 2009
The recipient organization, the Girl Scouts of the United States of America, will use surcharges from the sale of the coins to fund program development and delivery. The program will include silver proof and uncirculated coins, with a maximum mintage of 350,000 across all product options.
2014 Civil Rights Act of 1964 Commemorative Coin Program
Public Law 110-451, December 2, 2008
The recipient organization, the United Negro College Fund, will use surcharges from the sale of the coins to provide scholarships and internships for minority students, as well as operating funds and technology enhancement services for its 39 historically black college and university members. The program will include silver proof and uncirculated coins, with a maximum mintage of 350,000 across all product options.