On May 7, 2014, Senators Chris Murphy and Richard Blumenthal of Connecticut introduced a bill which seeks to authorize the minting and issuance of coins in commemoration of the United States Coast Guard. Surcharges raised from the sale of coins would help finance the United States Coast Guard Museum in New London, Connecticut.
The United States Coast Guard was founded on August 4, 1790 as the Revenue Cutter Service under the United States Department of the Treasury. The Coast Guard was created by Congress on January 28, 1915 by merging the Revenue Cutter Service and the United States Lifesaving Service and later moved to the Department of Transportation in 1967. On February 25, 2003, the Coast Guard became part of the Department of Homeland Security. The Coast Guard has an estimated 42,300 men and women on active duty.
Senator Murphy said, “The brave men and women who serve our country in the United States Coast Guard should have their legacy honored for generations to come. The new United States Coast Guard Museum in New London will showcase the Coast Guard’s rich history and its noble contributions to our country. Our bipartisan bill will provide further support to this important project and I urge my colleagues to back it.”
The bill S. 2303 United States Coast Guard Commemorative Coin Act would require the Secretary of the Treasury to mint and issue up to 100,000 $5 gold coins, 500,000 silver dollars, and 750,000 clad half dollars with designs emblematic of the traditions, history, and heritage of the United States Coast Guard and its role in securing the nation since 1790.
The coins would be produced in uncirculated and proof qualities and issued only during the one year period beginning on January 1, 2017.
Designs for the coins shall contain motifs that specifically honor the American Coast Guardsman of both today and yesterday, in wartime and in peace, such designs to be consistent with the traditions and heritage of the United States Coast Guard, the mission and goals of the National Coast Guard Museum, and the missions and goals of the National Coast Guard Museum Foundation. The designs for the coins would be selected by the Secretary of the Treasury following consultation with the Department of Homeland Security, the National Coast Guard Museum Foundation, the Commission of Fine Arts, and review by the Citizens Coinage Advisory Committee.
Sales prices for the coins would include surcharges of $35 per gold coin, $10 per silver dollar, and $5 per half dollar, distributable to the National Coast Guard Museum Foundation to help finance the design, construction, operations, and maintenance of the National Coast Guard Museum.
Senator Blumenthal said, “This commemorative coin gives all Americans an opportunity to help build a new museum—and a living monument—honoring the brave heroes and history of our Coast Guard. By buying this coin, Americans can contribute to the construction and commemoration of the Coast Guard’s proud Semper Paratas legacy. This museum will serve as a beacon of public service, sparking new generations of service men and women inspired by the courageous careers of our dedicated Coast Guard veterans.”
The bill S. 2303 has been referred to the Senate Committee on Banking, Housing, and Urban Affairs. In order to become law, it must be passed by the Senate and House of Representatives, then signed by the President.