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Senate Bill 305
118th Congress(2023-2024)
250th Anniversary of the United States Marine Corps Commemorative Coin Act
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Passed Senate on Jun 13, 2023
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S. 305 (Introduced-in-Senate)


118th CONGRESS
1st Session
S. 305


To require the Secretary of the Treasury to mint coins in commemoration of the 250th anniversary of the United States Marine Corps, and to support programs at the Marine Corps Heritage Center.

IN THE SENATE OF THE UNITED STATES

February 7, 2023

Mr. Blumenthal (for himself, Mr. Sullivan, Mr. Scott of Florida, Mr. Rounds, Mr. Young, Mrs. Shaheen, Mr. Warner, Mr. Heinrich, and Ms. Duckworth) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs

A BILL

To require the Secretary of the Treasury to mint coins in commemoration of the 250th anniversary of the United States Marine Corps, and to support programs at the Marine Corps Heritage Center.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “250th Anniversary of the United States Marine Corps Commemorative Coin Act”.

SEC. 2. Findings.

The Congress finds the following:

(1) November 10, 2025, marks the 250th anniversary of the United States Marine Corps.

(2) The United States Marine Corps has, over the course of its illustrious 250-year history, fought gallantly in defense of the United States.

(3) The United States Marine Corps has established itself as a leading military force, always prepared for tomorrow’s challenges and to contend with the future character of war.

(4) The United States Marine Corps continues to exemplify the warrior ethos that has made it a fighting force of international repute.

(5) All Americans should commemorate the legacy of the United States Marine Corps and recognize the significant contributions the values embodied in the Corps have made in protecting the United States against its enemies.

(6) In 2000, Congress authorized the construction of the Marine Corps Heritage Center as a multipurpose facility for historical displays for the public viewing, curation and storage of artifacts, research facilities, classrooms, offices and associated activities consistent with the mission of the Marine Corps.

(7) On November 10, 2006, the Marine Corps Heritage Center opened to the public, with exhibits that share the history of the Marine Corps from 1775 until 1975, and with planned future exhibits on modern day Marine Corps history from the end of the Vietnam War through the wars in Iraq and Afghanistan.

(8) The United States should pay tribute to the 250th anniversary of the United States Marine Corps by minting and issuing a commemorative coin.

(9) The surcharge proceeds from the sale of a commemorative coin, which would have no net costs to the taxpayers, would raise valuable funding for the continuation of educational programs of the Marine Corps Heritage Center.

SEC. 3. Coin specifications.

(a) Denominations.—In commemoration of the 250th anniversary of the United States Marine Corps, the Secretary of the Treasury (hereafter in this Act referred to as the “Secretary”) shall mint and issue the following coins:

(1) $5 GOLD COINS.—Not more than 50,000 $5 coins, which shall—

(A) weigh 8.359 grams;

(B) have a diameter of 0.850 inches; and

(C) contain not less than 90 percent gold.

(2) $1 SILVER COINS.—Not more than 400,000 $1 coins, which shall—

(A) weigh 26.73 grams;

(B) have a diameter of 1.500 inches; and

(C) contain not less than 90 percent silver.

(3) HALF-DOLLAR CLAD COINS.—Not more than 750,000 half-dollar coins which shall—

(A) weigh 11.34 grams;

(B) have a diameter of 1.205 inches; and

(C) be minted to the specifications for half-dollar coins contained in section 5112(b) of title 31, United States Code.

(b) Legal tender.—The coins minted under this Act shall be legal tender, as provided in section 5103 of title 31, United States Code.

(c) Numismatic items.—For purposes of sections 5134 and 5136 of title 31, United States Code, all coins minted under this Act shall be considered to be numismatic items.

SEC. 4. Design of coins.

(a) Design requirements.—The design of the coins minted under this Act shall be emblematic of the 250th anniversary of the United States Marine Corps.

(b) Designation and inscriptions.—On each coin minted under this Act there shall be—

(1) a designation of the value of the coin;

(2) an inscription of the year “2025”; and

(3) inscriptions of the words “Liberty”, “In God We Trust”, “United States of America”, and “E Pluribus Unum”.

(c) Selection.—The design for the coin minted under this Act shall be—

(1) selected by the Secretary after consultation with the Commission of Fine Arts, the Commandant of the Marine Corps, and the Marine Corps Heritage Foundation; and

(2) reviewed by the Citizens Coinage Advisory Committee.

SEC. 5. Issuance of coins.

(a) Quality of coins.—Coins minted under this Act shall be issued in uncirculated and proof qualities.

(b) Mint facility.—Any facility of the United States Mint may be used to strike any particular quality of the coins minted under this Act.

(c) Period for issuance.—The Secretary may issue coins minted under this Act only during the 1-year period beginning on January 1, 2025.

SEC. 6. Sale of coins.

(a) Sale price.—The coins issued under this Act shall be sold by the Secretary at a price equal to the sum of—

(1) the face value of the coins;

(2) the surcharge provided in section 7(a) with respect to such coins; and

(3) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping).

(b) Bulk Sales.—The Secretary shall make bulk sales of the coins issued under this Act at a reasonable discount.

(c) Prepaid orders.—

(1) IN GENERAL.—The Secretary shall accept prepaid orders for the coins minted under this Act before the issuance of such coins.

(2) DISCOUNT.—Sale prices with respect to prepaid orders under paragraph (1) shall be at a reasonable discount.

SEC. 7. Surcharges.

(a) In general.—All sales of coins issued under this Act shall include—

(1) a surcharge of $35 per coin for the $5 coin;

(2) a surcharge of $10 per coin for the $1 coin; and

(3) a surcharge of $5 per coin for the half dollar coin.

(b) Distribution.—Subject to section 5134(f)(1) of title 31, United States Code, all surcharges received by the Secretary from the sale of coins issued under this Act shall be promptly paid by the Secretary to the Marine Corps Heritage Foundation and shall only be used for the purposes of supporting the mission of the Marine Corps Heritage Center.

(c) Audits.—The Marine Corps Heritage Foundation, shall be subject to the audit requirements of section 5134(f)(2) of title 31, United States Code, with regard to the amounts received under subsection (b).

(d) Limitation.—Notwithstanding subsection (a), no surcharge may be included with respect to the issuance under this Act of any coin during a calendar year if, as of the time of such issuance, the issuance of such coin would result in the number of commemorative coin programs issued during such year to exceed the annual 2 commemorative coin program issuance limitation under section 5112(m)(1) of title 31, United States Code (as in effect on the date of the enactment of this Act). The Secretary may issue guidance to carry out this subsection.

SEC. 8. Financial assurances.

The Secretary shall take such actions as may be necessary to ensure that—

(1) minting and issuing coins under this Act will not result in any net cost to the United States Government; and

(2) no funds, including applicable surcharges, are disbursed to the Marine Corps Heritage Foundation until the total cost of designing and issuing all of the coins authorized by this Act (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping) is recovered by the United States Treasury, consistent with sections 5112(m) and 5134(f) of title 31, United States Code.