Commems Collection Modern: What If? 1984 Los Angeles Olympics - Big, Big, Big / Part I

As I mentioned in my previous story about the proposed 1984 Los Angeles Olympics single-coin Silver Dollar commemorative coin proposals (read it here, What If? 1984 Los Angeles Olympics Silver Dollars), there were multiple competing coin proposals being discussed in Congress at the same time as the bill that would ultimately be authorized and approved.

1984 Los Angeles Olympic Games Note Card with Logo


In contrast to the Silver Dollar coin proposals previously discussed, this time out I'm turning my attention to a pair of related coin bills that proposed large, multi-coin, multi-series programs that could very easily have overwhelmed collectors and set unwanted precedents for the modern United States ("US") commemorative coin series.

First, was a bill introduced in the US House of Representatives ("House") in June 1981 by Jerry M. Patterson (D-CA); the bill was introduced with 42 co-sponsors:, though the figure would later rise to 97. The bill called for "the minting of commemorative coins to support the 1984 Los Angeles Olympic Games" and "to help finance those Games without the use of tax revenues in recognition of the importance and national significance of the Olympics and of our athletics." Seems innocent enough, but wait!

The coin program proposed by the bill was immense by most any measure. In total, it called for 56.4 million coins in four denominations over multiple series.

- Up to 30 million Copper-Nickel (CuNi) Clad Dollars - five designs, Uncirculated coins only
- Up to 22.4 million Silver $10 coins - four designs in each of four series (16 total), Uncirculated and Proof
- Up to 2.4 million Gold $50 coins - one design in each of four series (4 total), Uncirculated and Proof
- Up to 1.6 million Gold $100 coins - one design in each of four series (4 total), Uncirculated and Proof

Quick math yields the potential for 29 coin designs with 53 coin versions (not counting potential different mint mark options) for a potential face value total of $534,000,000- Take that Atlanta!

Designs for the coins were to be selected by the Secretary of the Treasury in consultation with the Los Angeles Olympic Organizing Committee ("LAOOC"), and were to "be emblematic of the Olympics, United States participation in the Olympics, United States athletes and other symbols consistent with the purposes of this Act." All of the proposed coins were to feature a common reverse design.

The coins were to be struck between July 1982 and December 31, 1984 per the following schedule:

- The Clad Dollars: not later than January 1, 1984
- The $10, $50 and $100 coins:
>> First Series - not later than July 1, 1982
>> Second Series - not later than January 1, 1983
>> Third Series - not later than July 1, 1983
>> Fourth Series - not later than January 1, 1984

At least the program's multitude of issues incorporated the potential for collector-wallet "recovery" periods between Series!

The Mint/Treasury was not to be responsible for selling the coins, it was to provide them to the LAOOC upon the Committee's request. The coins were to be sold to the LAOOC at a price that covered all manufacturing/production costs plus a 15% surcharge calculated on production costs (i.e., excluding bullion costs). The Treasury and the LAOOC were to sign a contract within 90 days of the coin bill being enacted; the contract was to specify the details of the bill's coin provisions. There was to be no net cost to the US Government for its production of the coin program.

The LAOOC was to use the funds it generated from coin sales to stage and promote "the 1984 Los Angeles Olympic Games and assisting the United States Olympic Committee and amateur athletics."

Upon its introduction, the bill was referred to the House Committee on Banking, Finance, and Urban Affairs, with a further referral to its Subcommittee on Consumer Affairs and Coinage. The bill, however, was not reported by the Committee for further consideration. Too large perhaps?

The "Big" story continues in Part II.



For other of my posts about commemorative coins and medals, including more modern US commemorative coin stories, see: Commems Collection Nicky Mami