Bill(s) - HR 1794 (Introduced March 24, 2023; Brad Sherman (D-CA) + 18 others)
Short Title - LA28 Olympic and Paralympic Games Commemorative Coin Act
Proposed Year of Issue - 2028
Purpose To support the hosting of the 2028 Olympic and Paralympic Games in Los Angeles, and to support ongoing US Olympic programs.
"Congress finds the following:
(1) The 2028 Olympic and Paralympic Games, officially known as the Games of the XXXIV Olympiad or "LA28", will be held in Los Angeles, California.
(2) This will be the first time the Olympic and Paralympic Games have been held in the United States in 26 years.
(3) The United States has hosted the modern Olympic Games 9 times, with the 2028 Games becoming the third time Los Angeles will host the summer Olympic Games.
(4) The Paralympic Games will celebrate its 80th anniversary in 2028, with Los Angeles hosting the Paralympic Games for the first time.
(5) Unlike some other countries, Olympic Games in the United States are privately funded. The LA28 Games maintain this model with its revenue generated by corporate partners, broadcast rights, licensing, hospitality and ticket sales.
(6) With Los Angeles hosting the Paralympic Games for the first time in 2028, the 2028 Olympic and Paralympic Games Commemorative Coin Program has the opportunity to increase awareness and create more inclusivity for people with disabilities with the creation of a single, unifying coin to commemorate the Games."
Coins - Up to 100,000 Gold $5 coins
- Up to 500,000 Silver $1 coins
- Up to 300,000 Clad Copper-Nickel $0.50 coins
- Up to 100,000 Proof Silver $1 (5 ounce coins)
Surcharges - $5 coin: $35
- $1 coin: $10
- $0.50 coin: $5
- $1 coin (5 ounce): $50
Sponsor/Beneficiary- United States Olympic and Paralympic Properties "for the objects and purposes related to the hosting of the 2028 Olympic and Paralympic Games and to aid in the execution of its legacy programs, including the promotion of youth sports in the United States."
CommentsThe sponsor is getting an early jump on this one, introducing the coin program's proposal five years ahead of the issue year (i.e., 2023 vs. 2028). The issuing of commemorative coins to help finance the US Olympic team was once a recurring theme for the modern US commemorative coin series with previous coin programs issued for the Games in 1983-844, 1988, 1992, 1995-96 and 2002. No Olympic commemorative coin programs have been issued by the US since the Salt Lake City program of 2002, so a program for the 2028 Los Angeles Games, if approved, would be the first in over 20 years.
Though it currently is listed with a low probability of passing, I predict that either this bill or a similar bill introduced in a following Congress will be passed and signed into law by the President. History is on its side!
The inclusion of a five-ounce Proof Silver $1 coin recalls the Apollo XI commemorative coin program of 2019. While all silver and gold commemorative coins feature denominations that are nods to history vs. based in current-day reality, I find the modern five-ounce silver coins to carry the most non-sensible denomination. A $1 denomination for a "coin" with five ounces of silver when a less-than-one-ounce Silver Dollar is simultaneously being issued in the program?
FYI: Based on already-signed licensees, collectors should expect LA28 buttons, flags, banners, lapel pins, patches, various apparel items and much more!
Likelihood of Passage?The House bill currently has >60 co-sponsors.
- Per GovTrack: <5% (as of date of this post)
For other of my posts about commemorative coins and medals, including more Possible? commemorative coin stories, see:
Commems Collection.
Posted 07/03/2023 09:54 am
