1973 was a BIG year for US Bicentennial coinage! It was the year that saw the authorization of Public Law 93-127 on October 18, 1973 - the law that brought collectors the United States ("US") Bicentennial coinage that is now familiar; the Public Law was signed by US President Richard Nixon. But, there was significant legislative activity before this approval. Let's dive into it...The first Bicentennial coinage bill introduced during the 93rd Congress appeared in January 1973. It was introduced in the US Senate by Mark Odom Hatfield (R-OR) and immediately referred to the Senate Committee on Banking, Housing and Urban Affairs.
The bill proposed "the issuance of $25 gold pieces bearing the seal or symbol of the American Revolution Bicentennial Commission." (This bill pre-dates the Gold Bicentennial coins I discussed here:
What If? 1976 US Bicentennial Gold Coinage.)
The mintage figure for the coin was to be determined by the Secretary of the Treasury ("Secretary"), but with a maximum limit of 60 million coins. (I'll take the "Under".) The gold content of the coin was to be "two parts gold and one part such other metal or alloy as the Secretary determines to be appropriate." It was a clear departure from the 0.900 gold composition used previously - more debased. Though it did not specify a number, the bill did include a provision whereby the Secretary was to limit the number of Gold coins that could be purchased by an individual. (A fear of potential gold hoarding!)
The coin was to feature the Logo of the American Revolution Bicentennial Commission along with other graphics and inscriptions selected by the Secretary.
Logo of American Revolution Bicentennial Commission (and Administration)
The bill did not move beyond Committee.
The fate of the bill may have been decided by the potentially confusing legal status of gold ownership by the US general public at the time. US President Richard M. Nixon signed into law the bill that lifted the ban on gold ownership in 1971, but it wasn't until August 1974 that US President Gerald R. Ford approved gold ownership by the American public; the gold ownership law became effective on December 31, 1974.
More Bicentennial coin proposal stories to come! Stay tuned!For other of my posts about commemorative coins and medals, including more "What If?" stories, see:
Commems Collection 
Posted 03/27/2026 12:46 pm
