This article was originally printed in Numismatic News.
>> Subscribe today!
Legislation drafted on the occasion of the centennial of the birth of Ronald Reagan Feb. 6 calls for 50,000 $5 gold pieces and 300,000 silver dollars.
A $35 surcharge on the gold coin and a $10 surcharge on the silver dollar are intended to raise funds for U.S. Army emergency relief. A sellout would raise $1.75 million for the gold coins and $3 million for the silver dollars.
The bill, H.R. 497, was introduced by U.S. Rep. Robert Latta, R-Ohio, on Jan. 26.
Latta had previously introduced legislation for a Reagan $50 bill (2009), and $5 gold and silver dollar coins (2010). He is in his third term in Congress and for introduction of the measure persuaded 28 colleagues to join him. The measure was referred to the House Financial Services Committee where it should wind up before the coinage subcommittee headed up by Rep. Ron Paul, R-Texas.
Reagan served as the 40th President of the United States. He died in June 2004 at age 93.