WASHINGTON — The House passed a bill Wednesday directing the U.S. Mint to design and produce a coin to honor the U.S. Marshals Service. Proceeds from the sale of the coin would be used to fund a museum for the service in Fort Smith.
The vote was 409-2.
Late in last year’s congressional session, the House passed similar legislation, but the Senate did not take action. A single senator, Tom Coburn, an Oklahoma Republican, expressed fears that minting the coin would cost taxpayers, and successfully blocked a vote in the Senate.
When legislators reconvened this year and at Coburn’s urging, the bill was retooled to include an amendment that reads, in part, “minting and issuing coins under this Act will not result in any net cost to the United States,” and that the planned marshals museum will not receive any funds until the total costs of the coin, “including labor, materials, dies, use of machinery, overhead expenses, marketing and shipping” are paid for.
The upper chamber passed the bill last week. The House vote Wednesday incorporated the changes made in the Senate.
The Senate amendment “reassures the American people” that the coins would not cost taxpayers any money, Rep. Steve Womack, a Rogers Republican, said on the House floor Wednesday.
The bill now heads to the White House for President Barack Obama’s signature.
If signed into law, the Mint would produce coins beginning in January 2015 to commemorate the 225th anniversary of the U.S. Marshals Service.
The legislation would direct the Mint to make $5 gold coins, which would be sold to collectors, who would pay a $35 surcharge. The mint would also produce silver $1 coins and include a $10 surcharge for them.
The first $5 million of the surcharges would be used to help the marshals museum acquire and preserve artifacts.
If more money is generated by the coin sales, the proceeds will go to three other law enforcement associations — the National Center for Missing and Exploited Children, the National Law Enforcement Officers Memorial Fund and the Federal Law Enforcement Officers Association.
Sen. John Boozman, a Rogers Republican, said Coburn’s concerns were well-founded.
“The Treasury will many times write a check [and send it to the charities] before the funds are received,” Boozman said. “Several times, there’s been a shortfall” because sluggish coin sales didn’t raise enough money to cover the advance payments.
Several other coins related to Arkansas have been minted.
In the 1930s, commemorative half dollars were issued to celebrate Arkansas’ centennial.
As part of the State Quarter Series to mint quarters representing each state, the U.S. Mint produced Arkansas quarters in 2003.
The black students who desegregated Little Rock’s Central High School were honored on a 2007 silver dollar. Proceeds from surcharges collected through the sale of that coin were authorized to be used to pay for the preservation of the Little Rock Central High National Historical Site.
In 2010, the Mint produced a Hot Springs quarter. It was the debut of the U.S. Mint’s America the Beautiful Quarters Program, featuring 56 designs to honor 56 national parks.
Arkansas, Pages 7 on 03/22/2012