NCBA Committee Makes Commemorative Coin Recommendations

The Numismatic Industry Coinage Advisory Committee (NICAC) today released its first commemorative coin recommendations to the United States Congress. NICAC is a committee of the National Coin and Bullion Association, formed for the purpose of advising Congress on the adoption of commemorative programs that memorialize people and events truly worthy of commemoration by the nation. NICAC's goal is to encourage approval of commemorative programs that have deep appeal among coin collectors or broad appeal with the American public.

NICAC's recommendations include two programs for 2023 and one for 2026. (Other recommendations will be made in the future.) NICAC recognizes that the United States Mint faces challenges in executing the 2023 programs. However, as matters stand today, no commemorations have been authorized by Congress in 2023, making this the first year since 1985 in which Congress has not found an event or person to commemorate. NICAC believes that if Congress acts quickly, the U.S. Mint will be able to work these modest programs into its 2023 production and marketing schedule.

The committee also recommends Congress increase commemorative coin surcharges. NICAC has concluded that higher charges will galvanize stronger support for truly worthy commemorations without posing a risk to the coins' affordability or the programs' success. Surcharges typically applied today date from the 1980s and 1990s. Inflation and a five-fold increase in gold and silver prices have dramatically reduced the impact surcharges have on the price of these coins. NICAC has determined that a reasonable increase, in conjunction with stronger themes and appropriate maximum mintages, will not have an adverse effect. Strong themes, creative designs, effective marketing, and appropriate mintages are the paramount factors that drive these programs' success.

Recommendations of the Numismatic Industry Coinage Advisory Committee

The Numismatic Industry Coinage Advisory Committee (NICAC) was created for the purpose of advising the United States Congress on adoption of commemorative coin programs that honor people and events truly worthy of commemoration by the nation. NICAC's goal is to encourage approval of coin programs that have deep appeal among coin collectors or broad appeal among Americans, more generally.

This, NICAC's first recommendations to Congress, includes two programs to be executed in 2023 and one to be executed in 2026. NICAC recognizes that the United States Mint faces challenges in executing the 2023 programs. However, as matters stand today, no commemorations have been authorized by Congress in 2023, making this the first year since 1985 in which Congress has not found an event or person to commemorate. NICAC believes that if Congress acts quickly, the U.S. Mint will be able to work these modest programs into its 2023 production and marketing schedule.

NICAC has identified two anniversaries worthy of commemoration by the nation in 2023. We expect both programs to have strong support among collectors and to draw broad interest beyond the collecting community. These programs are modest in scale, featuring low mintages that ensure the programs' success and accommodate the time and resource constraints of the U.S Mint.

The program NICAC recommends for 2026 commemorates the nation's hosting of the most popular sporting event in the world. We expect these coins to have extraordinary appeal among the sport's 3.5 billion fans in the United States and around the globe. With 11 U.S. cities hosting the event, we have scaled the program to make the most of this unique opportunity to expand interest in coin collecting to U.S demographic and international markets that are rarely within the reach of the U.S. Mint.

Finally, in keeping with our mission to strengthen the commemorative themes adopted by Congress, NICAC recommends that surcharges be raised in order to galvanize stronger support for truly worthy commemorations. We are aware that this recommendation will not draw universal support. However, we have concluded that, in conjunction with strong themes and appropriate maximum mintages, a reasonable increase in surcharges will not undermine the success of these programs.

The impact of surcharges on the pricing and affordability of commemorative coins has declined dramatically over the last 30 years. Surcharge amounts applied to gold and silver coins today date from the 1980s and 1990s. Inflation has eroded these values by about two-thirds, and the five-fold increase in gold and silver prices over the past two decades has significantly reduced the impact of surcharges on the affordability of commemorative coins. The paramount factor driving the success of these programs is matching strong commemorative themes with creative designs, effective marketing, and appropriate maximum mintages.

50th Anniversary of Passage of the Endangered Species Act

Year: 2023

Number of Coins: One

Metal: Silver

Denomination: Dollar

Maximum Mintage: 300,000

Surcharge: $20

Obverse and Reverse Designs: Three species that have directly benefited from the Endangered Species Act, one each from the land, the air and the sea.

75th Anniversary of the Founding of the National Association for Stock Car/Auto Racing (NASCAR)

Year: 2023

Number of Coins: One

Metal: Silver

Denomination: Dollar

Maximum Mintage: 300,000

Surcharge: $20

Commemoration of the United States Hosting the World Cup

Year: 2026

Number of Coins: Four

Metal: Clad

Denomination: Half Dollar

Maximum Mintage: 1.2 million

Surcharge: $10

Obverse Design: Image representing youth soccer

Metal: Silver

Denomination: Dollar

Maximum Mintage: 750,000

Surcharge: $20

Obverse Design: Image representing women's soccer

Metal: Silver

Denomination: Dollar

Maximum Mintage: 750,000

Surcharge: $20

Obverse Design: Image representing men's soccer

Metal: Gold

Denomination: Five Dollars

Maximum Mintage: 250,000

Surcharge: $70

Obverse Design: Image of the World Cup trophy

About NCBA

The National Coin & Bullion Association is a 501(c)(6) tax-exempt trade association dedicated to the coins, currency, and precious-metals bullion communities for 40 years. NCBA exists to promote and safeguard the interests of its members, serving as the industry watchdog to maintain a favorable legislative and regulatory climate in the United States federal government and individual state governments. For more information, visit nationalcoinbullionassoc.org/membership or email ncba@ictaonline.org .

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