A blizzard of paperwork could be about to hit numismatics. Passage by Congress of the national health care legislation has had an unintended consequence to the nation’s coin collectors, vest-pocket dealers who buy and sell coins, and larger dealers who are frequent buyers of coins that collectors periodically liquidate as they trade up their collections for better coins, or simply sell to take a small profit or loss.
What has happened is that effective Jan. 1, 2012, the whole system of ...
Full Article: $600 sale? Tax form - Numismatic News
The U.S. House of Representatives on Thursday, May 20, passed the 5-Star Generals Commemorative Coin Act.
Should the act become law, the United States Mint would strike 50-cent clad, $1 silver and $5 gold commemorative coins featuring America’s Five-Star Generals who taught or studied at the U.S. Army Command and General Staff College (CGSC).
The coins would get minted for the year 2013, and include portraits of Generals George Marshall, Douglas MacArthur, Dwight Eisenhower, Henry "Hap" Arnold, and Omar Bradley — each led U.S. forces to victory in World War II and were alumni of the CGSC.
The bill, numbered H.R. 1177, was sponsored by Congressman Dennis Moore who reintroduced it on February 25, 2009...
Full Article: 5 Star Generals Commemorative Coin Act Passes - CoinNews
In commenting on the Treasury Department's new, harder-to-counterfeit $100 bill, Lynette Long [letters, April 24] made a good point: In this era of supposed gender equality, not one of our seven currency denominations recognizes a woman's achievements ...
Full Article: Dollar coins recognize women, save money - The Washington Post
Congressman Ron Paul [R-TX] on Wednesday introduced legislation that would, if signed into law, end taxes on coins and bullion and repeal legal tender laws. The bill’s lofty goal is to reintroduce a system of competing currencies.
"At this country’s founding, there was no government controlled national currency. While the Constitution established the Congressional power of minting coins, it was not until 1792 that the US Mint was formally established," Rep. Ron Paul said.
"In the meantime, Americans made do with foreign silver and gold coins. Even after the Mint’s operations got underway, foreign coins continued to circulate within the United States, and did so for several decades.
H.R. 4248, or the Free Competition in Currency Act of 2009, includes several measures to end government controlled ...
Full Article: Coin and Bullion Tax Ban Bill Introduced - CoinNews
The Medal of Honor Commemorative Coin Act of 2009 was signed into law by President Obama in early Nov. 2006. It calls for the United States Mint to create up to 500,000 $1 silver coins and 100,000 $5 gold coins in 2011 to mark the 150th anniversary of the first Medal of Honor.
The legislation was introduced in the House by Representative Christopher Carney of Pennsylvania, who is still actively serving in the U.S. Navy Reserve. It was co-sponsored by Representative Mark Kirk of Illinois.
"We owe everything to those who wore the uniform and committed extraordinary acts of bravery in defense of their colleagues and nation," said Rep. Christopher Carney.
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President Barack Obama signed today the Girl Scouts of the USA Commemorative Coin Act authorizing the minting of 350,000 silver dollar coins in honor of Girl Scouts and the achievements of the 50 million women across the nation whose lives have been influenced by Girl Scouting.
“This is a wonderful honor for Girl Scouts,” said Kathy Cloninger, Chief Executive Officer of Girl Scouts of the USA. “Congress only allows the minting of two coins a year and this is such a fitting way to honor our Movement and the million of girls and women whose lives Girl Scouting has touched. We are grateful to the President, the House and the Senate for their support.”
The bill in the House of Representatives (H.R. 621), sponsored by U.S. Rep. Jack Kingston (R-GA), easily passed by a voice vote and with more than 300 cosponsors on October 15. A companion Senate bill (S. 451), sponsored by U.S. Sen. Susan Collins (R-ME), also passed unanimously on October 19.
President Obama signed the bill at a ceremony at the White House that included Connie L. Lindsey, GSUSA National Board Chair, Laurie Westley, Senior Vice President, Public Policy, Advocacy & the Research Institute, and girls from the Girl Scout Council of the Nation’s Capital. [click to continue…]
For the second time in the same week, the U.S. Senate has unanimously passed legislation authorizing the minting of new coins by the United States Mint.
The Senate passed a bill that will create new Girl Scout Commemorative coins on Tuesday. Yesterday, October 22, 2009, the H.R. 1209 Medal of Honor Commemorative Coin Act of 2009 was given thumbs up. The U.S. House passed the same bill back on May 14th. The Act will now be forwarded to the White House in order for President Obama to sign it into law.
When introducing the bill to his chamber, Representative Christopher P. Carney (one of only two congressman who is actively serving in the military) made the following statement: [click to continue…]
Congress has just authorized legislation that instructs the United States Mint to produce up to 350,000 commemorative silver coins in 2013 to honor the Girl Scouts of the USA. The bill has been cleared for President Obama who is expected to sign it into law.
Final designs for the coin will not be known for many, many months, but Congress did dictate that it should show the normal inscriptions and contain 90% silver and 10% copper. It also requires that the coin design be emblematic of the Girl Scouts.
The legislation is known as the Girl Scouts USA Centennial Commemorative Coin Act and was passed last week by the U.S. House of Representatives. The Senate passed the same bill on Monday. [click to continue…]
Two new coin bills have been introduced in Congress this month. One was brought forward in the Senate and would allow certified coins in individual retirement accounts. Another was passed in the House that would commemorate the Girl Scouts of USA. A description of each follows.
The act, also known as H.R. 621, passed in the House by voice vote on Tuesday, Oct. 13. If it also passes in the Senate and both chambers agree on any changes, and then it gets signed by President Obama, up to 350,000 commemorative silver dollars would be minted in 2013. The coins, as the act describes, would celebrate the 100th anniversary of the founding of the Girl Scouts of the USA.
H.R. 621 was introduced by Rep. Jack Kingston who was commended by Kathy Cloninger, the Girl Scouts of the USA CEO. [click to continue…]
