Oklahoma delegation co-sponsors bipartisan legislation to mint LA28 Olympics and Paralympics coins

Bipartisan legislation, co-sponsored by Oklahoma Senator Markwayne Mullin and Representative Frank Lucas, was introduced this month in both the Senate and House to authorize the United States Mint to produce commemorative coins for the 2028 Summer Olympic Games and the 2034 Winter Olympic Games. These will be the first Olympics held in the United States since 2002. Los Angeles is the host city for the 2028 Olympics, but Oklahoma City has been selected to host two events: softball and canoe slalom. The 2034 Winter Games will be in Salt Lake City.

Here's what you need to know about the history of U.S.-minted commemorative Olympic coins and about the LA28 coins, specifically:

According to the U.S. Mint, between 1983 and 2002, it issued commemorative Half Dollars, Silver Dollars, and $5 and $10 Gold Coins, representative of the Olympic Games (including the Paralympics and Special Olympics) under what is commonly referred to as the Modern Commemorative Coin Program. Coins representing the Olympic Games were offered in uncirculated (business strike) and proof finishes, with up to four different mint marks available depending on the product year and finish. The authorizing legislation for these commemorative coins was approved by Congress between 1982-2000 and signed by three U.S. presidents during the 18-year period. 27 different coins were made (24 Olympic Games, two Paralympics, one Special Olympics), featuring the work of 18 designers with 44 unique designs. The initial coin was the Los Angeles Olympiad Discus Thrower Silver Dollar and was dated 1983.

Gold coins featuring the Olympics have a $5 denomination and were solely minted at West Point, with one exception. The 1984 Los Angeles Olympiad $10 Gold Coin was the 1st gold coin minted for the U.S. Government in more than 50 years. A proof version of this coin was struck at four mint facilities (Philadelphia, Denver, San Francisco and West Point).

Generally speaking, the Olympic coin designs feature athletes, events, facilities and emblematic symbols of the Olympic Games. The XXV Olympic Games Half Dollar clearly features the likeness of a female athlete—a gymnast. Also unique, the coins from 1995 and 1996 feature a unifying reverse design by year per denomination.

In 2002, for the first time since the Seoul Olympiad coins from 1988, only a silver dollar and $5 gold coin were offered for purchase. On May 30, 2002, the Mint was presented with an honorary Winter Olympic torch in recognition of its contribution to the Winter Games that were held in Salt Lake City. This was the last year the Mint offered an Olympic-related coin.

The legislation authorizing the minting of coins for the XXXIV Olympic Games in Los Angeles calls, specifically, for the production of:

1. $5 GOLD COINS.—Not more than 100,000 $5 coins, each of which shall—

1. (A) weigh 8.359 grams;
2. (B) have a diameter of 0.850 inches; and
3. (C) contains not less than 90 percent gold.

2. $1 SILVER COINS.—Not more than 500,000 $1 coins, each of which shall—

1. (A) weigh 26.73 grams;
2. (B) have a diameter of 1.500 inches; and
3. (C) contains not less than 90 percent silver.

3. HALF-DOLLAR CLAD COINS.—Not more than 300,000 half-dollar coins, each of which shall—

1. (A) weigh 11.34 grams;
2. (B) have a diameter of 1.205 inches; and
3. (C) be minted to the specifications for half-dollar coins contained in section 5112(b) of title 31, United States Code.
4. 4. PROOF SILVER $1 COINS.—Not more than 100,000 proof silver $1 coins, each of which shall—
5. (A) weigh 5 ounces;
6. (B) have a diameter of 3 inches; and
7. (C) contains .999 fine silver.

According to the legislation, the coins will have the following design requirements:

1. IN GENERAL.—The design of the coins minted under this Act shall be emblematic of the participation of United States athletes in the LA28 Games.

2. DESIGNATION AND INSCRIPTIONS.—On each coin minted under this Act, there shall be—

(A) a designation of the value of the coin;

(B) an inscription of the year “2028”; and

(C) inscriptions of the words “Liberty”, “In God We Trust”, “United States of America”, and “E Pluribus Unum”.

3. SELECTION OF DESIGNS.—The designs for the coins minted under this Act shall be—

1. (A) selected by the Secretary after consultation with—

(i) the United States Olympic and Paralympic Properties; and

(ii) the Commission of Fine Arts; and

1. (B) reviewed by the Citizens Coinage Advisory Committee.

The coins minted under this act, in uncirculated and proof qualities, can be issued only during the 1 year beginning on January 1, 2028.

The coins will be sold at a price equal to the sum of—

(1) the face value of the coins;

(2) a surcharge specific to each coin; and

(3) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, and marketing, and shipping).

The surcharges:

(1) $35 per coin for the $5 coin;

(2) $10 per coin for the $1 coin described in section 3(a)(2);

(3) $5 per coin for the half-dollar coin; and

(4) $50 per coin for the $1 proof silver coin.