Setting Requirements for the Content of Collectible Coins (H.R. 1698)

What is H.R. 1698?

(Updated July 19, 2017)

This bill would repeal the Secretary of the Treasury's authority to change the design of certain gold bullion coins and the requirements for the protective covering of those coins.

Requirements for the copper content of investment-grade quarter dollar coins would also be repealed, and their silver content would be required to be at least 90 percent. Under current law, they are required to be 90 percent silver and 10 percent cooper.

It also makes technical revisions to the requirements for palladium bullion investment coins. Coin collectors, rejoice 👯

Argument in favor

Repealing the Treasury’s ability to modify the content of quarters and collectible coins will help protect investors, and ensure uniformity in circulated coins.

Argument opposed

The Treasury has a better handle on the costs associated with minting these coins than anyone else and should have the ability to make modifications as they see fit.

Impact

People who purchase bullion and collectible coins, the Treasury Department, Congress, the Secretary of the Treasury.

Cost of H.R. 1698

A CBO cost estimate is unavailable.

Additional Info

In-Depth: Each year, the U.S. Mint releases five investment-grade silver quarter dollars featuring a scene from the National Site Register in each American state and territory.

A U.S. Mint market study found that insufficient demand has made the palladium bullion coin unprofitable for the federal government. 

Media:

• U.S. Mint (Context)
• U.S. Mint - America the Beautiful Quarters (Context)
  

Summary by Eric Revell
(Photo Credit: Flickr user "Caveman Chuck" Coker)