S-877-119
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (text: CR S1605-1606)
Sponsored by Charles Schumer (D-NY)
What it does
This bill would require the Treasury Secretary to mint and issue up to 50,000 $5 gold coins, 400,000 $1 silver coins, and 750,000 half-dollar clad coins honoring Roberto Clemente, issued only during 2027. Coins would be sold with surcharges of $35, $10, and $5 per coin, and the surcharges would be paid to the Roberto Clemente Foundation, which would be subject to audit. The Secretary would have to ensure no net cost to the government, and no surcharge funds would be paid out until the government's costs are recovered. No surcharge may be included if issuing the coins would exceed the limit of two commemorative coin programs in a year.
Who benefits
The Roberto Clemente Foundation, which would receive the surcharges for its general expenses, including educational, youth sports, and disaster relief programs. Coin collectors and the numismatic market, who would get a new commemorative issue. Clemente's family and admirers, particularly in Puerto Rico and Latino communities, who would see him recognized on U.S. coinage.
Who is hurt
No group is meaningfully harmed. Buyers would pay a price above face value that includes the surcharge and production costs. The Mint would devote production capacity to this program, and the surcharge could be lost if the two-program annual limit is exceeded. The bill requires that taxpayers bear no net cost.
Supporters argue
Supporters argue the coins would honor a Hall of Fame athlete who also served in the Marine Corps Reserve and died on a humanitarian relief mission. They contend the program is self-funding, since the bill requires no net cost to the government and routes surcharges to a foundation that is subject to audit requirements.
Opponents argue
Opponents argue that commemorative coin programs crowd the Mint's schedule and can saturate the collector market, which may leave sales below the authorized quantities. They contend that directing surcharges to a single private foundation is a form of earmarked funding, and that the honor is better left to private or state recognition.
Constitutional context
Congress has the power to coin money under Article I, Section 8, Clause 5, and to make laws necessary and proper to carry it out. The bill raises no contested constitutional question, and no landmark case specifically governs commemorative coin programs.
Checks and balances
Congress directs the Treasury to mint the coins, and the Treasury Secretary carries out the program with review by the Citizens Coinage Advisory Committee. The foundation's use of surcharges is subject to audit requirements under existing law.
Historical precedent
Congress has regularly authorized commemorative coin programs with surcharges paid to designated organizations, under the framework in 31 U.S.C. 5112 and 5134.