TheWeekInCongress.com

Week Ending July 23, 2004

HR 3277 minting a coin to commemorate the 230^th Anniversary of the US Marine Corps and to support the Marine Corps Heritage Center.

BRIEF

   November 10, 2005, marks the 230th anniversary of the United States Marine Corps; and Congress recognizes the organization as the Nation’s military leader in amphibious warfare of international repute. The Marine Corps Heritage Center was authorized in 2001 to provide historical displays, research, classrooms, offices and storage of artifacts.

The Center is scheduled to open November 10^th, 2005.

   Congress, then requires the minting of a commemorative coin, the proceeds from which will go to supporting the Heritage Center effort.

The US Mint would produce 500,000, $1 silver coins each weighing 26.73 grams with a diameter of 1.5 inches and made of 90% silver and 10% copper. The coins will be minted and distributed in uncirculated and proof conditions and will be distributed for one year beginning January 1, 2005. The cost of the coin will include a $10 surcharge. After the cost of the coins are recouped by the mint the remaining surcharge money will go to

 The Marine Corp Heritage Foundation for construction of the Center.

Sponsor:

Vote:

Cost to the taxpayers: Public law prohibits the Mint to produce commemorative coins at a financial loss. The CBO estimates that revenue from the coin will fall between $3 million and $5 million before cost of production is deducted. Production costs were not calculated in the bill. ## All Rights Reserved. No reproduction or distribution without written permission from TheWeekInCongress.com.