HR 1546119th CongressIn Committee

Erie Canal Bicentennial Commemorative Coin Act

Introduced: Feb 24, 2025

Standard Summary

Comprehensive overview in 1-2 paragraphs

This bill, the Erie Canal Bicentennial Commemorative Coin Act, would require the Secretary of the Treasury to mint and issue commemorative coins to mark the Erie Canal’s bicentennial. It creates three coin types (a $5 gold coin, a $1 silver coin, and a half-dollar clad coin) with specified minting caps, sets design and inscription requirements, and limits issuance to a one-year period beginning January 1, 2026. Proceeds from surcharges added to the sale price (paid to collectors) are directed to the Erie Canalway Heritage Fund, Inc. for preservation, recreation, education, and related programs. The act also includes provisions to ensure no net cost to the U.S. government and requires cost recovery before funds are disbursed.

Key Points

1Denominations and caps: Minting not more than 50,000 $5 gold coins, 400,000 $1 silver coins, and 750,000 half-dollar coins, with detailed weight/size specs where provided.
2Legal tender and numismatic status: Coins remain legal tender and are treated as numismatic items for tax/record purposes.
3Design process: Designs must reflect the Erie Canal and its impact; designs include the year 2026 and standard U.S. inscriptions. Selection involves the Secretary of the Treasury in consultation with the Commission of Fine Arts and the Erie Canalway Heritage Fund, Inc., and is reviewed by the Citizens Coinage Advisory Committee.
4Issuance window and quality: Coins issued in uncirculated and proof qualities, only within a one-year period starting January 1, 2026.
5Sales financing: Coins sold at price equal to face value plus a per-coin surcharge and the cost of designing/issuing; bulk discounts and prepaid orders allowed.
6Surcharges and funds: Surcharges are $35 ($5 coin), $10 ($1 coin), and $5 (half-dollar). All surcharges go to the Erie Canalway Heritage Fund, Inc. for related programs; surcharges are subject to audits.
7Issuance cap and compliance: Government issuance limited to keep within the annual two-coin-program cap; Secretary may issue guidance to implement this.
8Financial assurances: The Secretary must ensure no net cost to the U.S. government and recover the total design/issuance costs before any disbursement of funds to recipients.

Impact Areas

Primary: Erie Canalway Heritage Fund, Inc. and the Erie Canalway National Heritage Corridor (for preservation, recreation, education, and commemorative programs); upstate New York communities along the canal corridor; coin collectors and the broader numismatic market.Secondary: U.S. Treasury and the Mint (administration, design approvals, and sales logistics); local tourism and cultural heritage sectors tied to canal-related history and activities.Additional impacts: Potential economic effects from increased tourism/interest in upstate New York’s canal corridor; precedent for future commemoratives with designated revenue for a non-governmental benefactor; alignment with historical education and commemorative programming.

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