Up to 500,000 $1 silver coins and 100,000 $5 gold coins will be struck in 2011 by the United States Mint as authorized by the Medal of Honor Commemorative Coin Act of 2009 which President Obama signed into law Friday, Nov. 6, 2009.
The collector minted proof and uncirculated coins will mark the 150th anniversary of the establishment of the Medal of Honor in 1861, America’s highest award for valor which can be bestowed upon an individual serving in the Armed Services of the United States.
"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 who introduced the legislation which easily passed in the House and then the Senate.
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Legislation seeking to recognize and celebrate the establishment of the Medal of Honor was approved in the U.S Senate Thursday by Unanimous Consent. The bill, H.R. 1209, passed in the U.S. House of Representatives back on May 14, 2009.
Following a procedural clearance step, the Medal of Honor Commemorative Coin Act of 2009 will make its way to President Obama who is expected to sign it into law. That will authorize the United States Mint to strike up to 500,000 $1 silver coins and 100,000 $5 gold coins in proof and uncirculated conditions in 2011.
H.R. 1209, which was introduced by Rep. Christopher Carney, calls for gold and silver coin designs to be "emblematic of the traditions, legacy, and heritage of the Medal of Honor, and the distinguished service of its recipients in the Nation’s history." Read the rest of this entry »
Knocking on the legislative door for the eighth consecutive year is a new bill seeking to treat coins or bars composed of silver, gold, platinum and palladium in the "same manner as equities and mutual funds for purposes of the maximum capital gains rate for individuals."
Gains from the sale of collectibles held for more than one year are taxed at a rate of 28 percent. (Collectibles include coins, stamps, coins, antiques, art, and gems.) The level is significantly higher than the maximum 15 percent capital gains rate for other long-term investments, like stock and bond holdings.
The bill, named the Fair Treatment for Precious Metals Investors Act, S. 1367, was introduced by Sen. Michael Crapo [R-ID], who also Read the rest of this entry »
The U.S. House of Representatives on Thursday passed legislation to commemorate Medal of Honor recipients with silver and gold coins in 2011.
The Medal of Honor Commemorative Coin Act of 2009, H.R. 1209 would authorize the United States Mint to strike up to 500,000 $1 silver coins and 100,000 $5 gold coins in proof and uncirculated conditions.
"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 who introduced H.R. 1209.
"This bill will not only recognize the outstanding achievements of these men and women, but the proceeds from the sale of the coins will go to educate people about the significance and exclusivity of the award," Carney added.
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US gold and silver coins would be struck in recognition and in celebration of the Medal of Honor and its establishment in 1861, should a newly introduced bill (H.R. 1209) become law.
The Medal of Honor is America’s highest award for valor in action against an enemy force that can be bestowed upon an individual serving in the Armed Services of the United States.
H.R. 1209, entitled the Medal of Honor Commemorative Coin Act of 2009, would authorize the United States Mint in 2011 to strike up to 500,000 $1 silver coins and 100,000 $5 gold coins in proof and uncirculated conditions. Read the rest of this entry »
