Here's a coin proposal that would have not only impacted pocket change in 1976, but for years after...
In June 1975, Richard Taylor Schulze (R-PA) introduced a bill in the US House of Representatives ("House") that called for a "two -cent piece emblematic of the Bicentennial of the American Revolution." Upon its introduction, the bill was referred to the House Committee on Banking, Currency and Housing, with a subsequent referral ro its Subcommittee on Historic Preservation and Coinage.
The bill left open details of the proposed coin, stating "The alloy and weight for the two-cent piece shall be determined by the Secretary of the Treasury after consultation with the Director of the Mint and interested persons ." Though unstated, the weight would likely also have driven the final size specifications of the coin.
The coin bill was included in a Coinage Subcommittee Hearing in September 1975. US Mint Director, Mary Brooks, attended the Hearing to discuss the coin proposal (and a variety of other coin and medal bills). Brooks set the baseline for her comments with:
"The [bill] would authorize and direct the Secretary of the Treasury to issue a two-cent piece emblematic of the Bicentennial of the American Revolution. This bill would permanently add the two-cent piece to the nickel and the penny as the third minor coin of the United States and, by providing that this coin shall bear a Bicentennial design and date, would make the new two-cent piece our fourth Bicentennial circulating coin." [emphasis added]
What would have started out as a circulating commemorative coin, would have become a part of regular coinage in 1977 - one can only wonder how long it would have continued being produced?
Brooks testified that issuing a two-cent piece in 1976 (and beyond), while possibly "desirable" would be "premature" considering the proper groundwork had not been done. She noted, "Before any new coin denomination is issued, we must take into account a broad range of the relevant considerations, including the need for the particular denomination, its public acceptability and the impact it may have on business establishments, banks and coin-operated devices." She stated that such research had not been conducted.
Brooks did note, however, that the Mint was then currently sponsoring a research study that would consider the referenced parameters; it was to be completed in the first half of 1976 and project
US coinage needs through 1990.
Brooks also raised a practical concern:
"Additionally, since this bill would direct us to issue the proposed coin for the Bicentennial, we are much concerned with the impact it would have on private industry. In our view, the abrupt introduction of a new denomination into circulation could adversely affect the Nation's commerce. The physical characteristics of a new coin, particularly its diameter, require considerable changes in, and in some cases the replacement of, a whole array of con-handling devices across the Nation. The necessary re-tooling or replacement of these devices, which include sorting machines, vending machines, change makers and counting and wrapping machines, could take several years. "IMO, Director Brooks effectively presented the case against a "last minute" change to
US coinage. Introducing a new denomination (OK, re-introducing) goes well beyond changing designs on existing coins (i.e., quarter, half dollar and dollar) - and even that change to help mark the Bicentennial was authorized in 1973, years ahead of introduction!
Not unexpectedly, the Bicentennial two-cent piece bill did not proceed beyond the Hearing, and collectors had to "make do" with the circulating commemorative twenty-five cent, fifty cent and one dollar coins.
1975-76 US Bicentennial Coinage
For other of my posts about commemorative coins and medals, including more Bicentennial stories, see:
Commems Collection.
Posted 10/08/2025 11:14 am
