2024 James Weldon Johnson Commemorative Coin Introduced

H.R. 7459, April 7, 2022 – Mr. Lawson of Florida (for himself, Mr. Cohen, and Mr. Green of Texas) introduced the following bill; which was referred to the Committee on Financial Services. To require the Secretary of the Treasury to mint commemorative coins in recognition of James Weldon Johnson. This Act may be cited as the James Weldon Johnson Commemorative Coin Act.

3.

Coin specifications(a)

Denominations

The Secretary of the Treasury (hereafter in this Act referred to as the Secretary) shall mint and issue the following coins in recognition and celebration of James Weldon Johnson:(1)

$5 gold coins

Not more than 50,000 $5 coins, which shall—(A)

weigh 8.359 grams;(B)

have a diameter of 0.850 inches; and(C)

contain not less than 90-percent gold.(2)

$1 silver coins

Not more than 400,000 $1 coins, which shall—(A)

weigh 26.73 grams;(B)

have a diameter of 1.500 inches; and(C)

contain not less than 90-percent silver.(3)

Half-dollar clad coins

Not more than 750,000 half-dollar coins which shall—(A)

weigh 11.34 grams;(B)

have a diameter of 1.205 inches; and(C)

be minted to the specifications for half-dollar coins contained in section 5112(b) of title 31, United States Code.(b)

Legal tender

The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code.(c)

Numismatic items

For purposes of sections 5134 and 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.4.

Design of coins(a)

Design requirements(1)

In general

The design for the coins minted under this Act shall be emblematic of James Weldon Johnson.(2)

Designations and inscriptions

On each coin minted under this Act, there shall be—(A)

a designation of the denomination of the coin;(B)

an inscription of the year 2024; and(C)

inscriptions of the words Liberty, In God We Trust, United States of America, and E Pluribus Unum.(b)

Selection

The design for the coins minted under this Act shall be—(1)

selected by the Secretary in consultation with the Commission of Fine Arts; and(2)

reviewed by the Citizens Coinage Advisory Committee.5.

Issuance of coins(a)

Quality of coins

Coins minted under this Act shall be issued in uncirculated and proof qualities.(b)

Period for issuance

The Secretary may issue coins minted under this Act only during the 1-year period beginning on January 1, 2024.6.

Sale of coins(a)

Sale price

The coins issued under this Act shall be sold by the Secretary at a price based upon the sum of—(1)

the face value of the coins;(2)

the surcharge provided in section 7(a) with respect to such coins; and(3)

the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).(b)

Bulk sales

The Secretary shall make bulk sales of the coins issued under this Act at a reasonable discount.(c)

Prepaid orders(1)

In general

The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins.(2)

Discount

Sale prices with respect to prepaid orders under paragraph (1) shall be at a reasonable discount.7.

Surcharges(a)

In general

All sales of coins minted under this Act shall include a surcharge as follows:(1)

A surcharge of $35 per coin for the $5 coin.(2)

A surcharge of $10 per coin for the $1 coin.(3)

A surcharge of $5 per coin for the half-dollar coin.(b)

Distribution

Subject to section 5134(f) of title 31, United States Code, all surcharges received by the Secretary from the sale of coins issued under this Act shall be promptly paid as follows, for the purpose of strengthening educational outcomes for students, with a focus on students of color, and supporting social justice efforts:(1)

85 percent, divided equally between—(A)

the Marshall-Motley Scholars Program;(B)

the Stanton College Preparatory School; and(C)

the National Association for the Advancement of Colored People (NAACP).(2)

15 percent to the James Weldon Johnson Foundation.8.

Financial assurances

The Secretary shall take such actions as may be necessary to ensure that—(1)

minting and issuing coins under this Act will not result in any net cost to the United States Government; and(2)

no funds, including applicable surcharges, are disbursed to the recipient designated in section 7 until the total cost of designing and issuing all of the coins authorized by this Act (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping) is recovered by the United States Treasury, consistent with sections 5112(m) and 5134(f) of title 31, United States Code.

Souece https://www.govtrack.us/congress/bills/117/hr7469/text