On October 22, 2009, the Senate passed legislation which will authorize the production of Medal of Honor Commemorative Coins. The bill had been introduced on February 26 and was passed in the House of Representatives on May 14, 2009. Prospects of the bill becoming law were seen as favorable due to the large number of cosponsors attached.
H.R. 1209 Medal of Honor Commemorative Coin Act of 2009 requires the Secretary of the Treasury to mint coin in recognition and celebration of the establishment of the Medal of Honor, to honor its recipients, and to promote awareness of what the Medal of Honor represents.
The bill calls for the production of up to 100,000 $5 gold coins and up to 500,000 $1 silver coins. The design of the coins would be emblematic of the traditions, legacy, and heritage of the Medal of Honor and the distinguished service of its recipients. The Medal of Honor is the highest award that can be bestowed upon an individual serving in the Armed Services of the United States for valor in action against an enemy force.
The coins would be issued during the one year period beginning on January 1, 2011. Surcharges would be added to the cost of each coin for distribution to the Congressional Medal of Honor Foundation to help finance their educational, scholarship, and outreach programs.
In order to become law, the bill must be signed by the President. A previously approved commemorative coin program for 2011 will honor the Army.