H.R. 2834: Selena Commemorative Coin Act

This bill, known as the Selena Commemorative Coin Act, aims to honor the late singer Selena Quintanilla by authorizing the minting of commemorative coins in her recognition. The proposed legislation outlines the specifications, design, and sale of these coins, as well as the financial mechanisms involved in their issuance.

Coin Specifications

The Secretary of the Treasury is tasked with minting three specific types of coins:

• $5 Gold Coins: Up to 50,000 coins, each weighing 8.359 grams, with a diameter of 0.850 inches, and made of at least 90% gold.
• $1 Silver Coins: Up to 400,000 coins, each weighing 26.73 grams, with a diameter of 1.500 inches, and made of at least 90% silver.
• Half-Dollar Clad Coins: Up to 750,000 coins, each weighing 11.34 grams and having a diameter of 1.205 inches, minted according to existing half-dollar specifications.

Legal Tender and Numismatic Status

The coins will be considered legal tender and classified as numismatic items, which means they may have additional value to collectors beyond their face value.

Design of Coins

The designs will symbolize Selena Quintanilla's life and contributions, with at least one side featuring her image. Each coin will also display the denomination, the year 2029, and inscriptions of notable phrases such as "Liberty" and "In God We Trust." The Secretary of the Treasury will select the design in consultation with relevant organizations.

Issuance of Coins

The coins are to be issued in uncirculated and proof qualities only during the year 2029. Sales will occur at a price that includes the coin's face value, a surcharge for various costs, and a discount for bulk or prepaid orders.

Surcharges and Distribution of Funds

Each coin will carry a surcharge, which will be allocated as follows:

• $35 per $5 coin.
• $10 per $1 coin.
• $5 per half-dollar coin.

The funds from these surcharges will benefit the Friends of the Corpus Christi Museum of Science and History, helping cover expenses related to museum operations and a dedicated Selena exhibit. The receiving organization will be subject to audit requirements to ensure proper allocation of funds.

Financial Assurances

The bill requires the Secretary of the Treasury to ensure that the minting of these coins does not incur a net cost to the federal government and that funds are disbursed only after all upfront costs related to the coins are recovered.

Relevant Companies

None found