Committee Makes Commem Recs
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 programs into its 2023 production and marketing schedules.
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, NICAC says. Inflation and a fivefold 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 NICAC
NICAC has identified two anniversaries worthy of commemoration by the nation in 2023. It expects 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. It expects 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, it has 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.
In keeping with its 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. The committee says it realizes that this recommendation will not draw universal support; however, it has concluded that, in conjunction with strong themes and appropriate maximum mintages, a reasonable increase in surcharges will not undermine the success of these programs.
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
In keeping with its 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.