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1 1 (December 1, 2022)

handle is hein.crs/govejor0001 and id is 1 raw text is: Con gressionaI Resear h Servtce Mae Informing the legislative debate since 1914 December 1, 2022 Olympic Commemorative Coins: Background and Considerations for Congress The U.S. Mint produces commemorative coins pursuant to a specific act of Congress. These coins celebrate and honor American people, places, events, and institutions. Although they are considered legal tender, they are not minted for general circulation. Instead, they are designed to be collected (numismatic products) and to help a specified statutorily designated group(s) raise money. In 2028, the City of Los Angeles will host the Summer Olympic Games. Historically, Congress has authorized commemorative coins to celebrate the Olympics. For five previous Olympiads, Congress has authorized commemorative coins to honor the Olympic Games and Olympic athletes. Three of those instances were for Olympic Games held in the United States-1984, 1996, and 2002-and twice to honor American Olympic athletes for games hosted by other nations-1988 (Seoul, South Korea) and 1992 (Barcelona, Spain, and Albertville, France). In each case, the legislation designated the United States Olympic Committee as the recipient for at least some of the coins' surcharge payments. For the three Olympics hosted in the United States, surcharge payments were also directed to the host cities' Olympic organizing committee. The Olympic Coin Program reaped great rewards for U.S. athletes in the 1 984 Los Angeles games.... The United States won more medals than any other country in history in the 1984 games and I hope today's legislation will provide valuable assistance so that our athletes can equal or better that record in 1988. -Representative Chalmers Wylie, Congressional Record, August 6, I 987, p. 22757. Olyrmps in the United States Since 1984, the United States has hosted the Olympics three times: 1984 Summer Olympics in Los Angeles, CA; 2000 Summer Olympics in Atlanta, GA; and 2002 Winter Olympics in Salt Lake City, UT. In each instance, Congress has authorized commemorative coins to honor the Olympic Games and participating athletes and to provide surcharge payments to designated Olympic organizations to help financially support the Olympic Games. I984 Los Angeles Olympics In 1982, Congress authorized commemorative coins for the 1984 Los Angeles Summer Olympics (P.L. 97-220). Three coins-two silver dollars and one $10 gold coin-were authorized for the 1984 Olympics, with proceeds split equally between the Los Angeles Olympic Organizing Committee and the United States Olympic Committee. Figure 1 shows the 1984 Coliseum Silver Dollar. Figure 1. 1984 Los Angeles Olympiad Coliseum Silver Dollar - Source: U.S. Mint, Los Angeles Olympiad Coliseum Silver Dollar, at https://www.usmint.gov/coins/coin-medal-programs/ commemorative-coins/1984-olympics-coliseum. 1996 Atlanta Centennial Olympics In 1992, Congress authorized a total of 16 commemorative coins for the 1996 Centennial Summer Olympics in Atlanta (P.L. 102-390): two half dollars, four silver dollars, and two $5 gold coins to be issued in 1995 (8 coins) and 1996 (8 coins). In 1995, the half dollar coins honored baseball and basketball; the silver dollars honored gymnastics, cycling, track and field, and the Paralympics; and the $5 gold coins depicted a torch runner and the Olympic stadium. In 1996, the half dollar coins honored swimming and soccer; the dollar coins honored rowing, tennis, the high jump, and the Paralympics; and the $5 gold coins depicted a flag bearer and the Olympic cauldron. Proceeds were split equally between the Atlanta Committee for the Olympic Games and the United States Olympic Committee. Figure 2 shows the 1996 cauldron $5 gold coin. Figure 2. 1996 Atlanta Olympics Cauldron Gold $5 Source: U.S. Mint, Centennial Olympics (Cauldron) Gold $5, at https://www.usmint.gov/coins/coin-medal-programs/commemorative- coins/centennial-olympics-cauldron-gold.

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