Cupped basketball coin proposed
Another cupped commemorative coin, this one depicting a basketball, may bounce into the coin market in 2019.
A cupped coin depicting a basketball could enter the coin collecting court in 2019.
Legislation introduced to Congress on Feb. 23 calls for the United States Mint to produce cupped coins honoring the 60th anniversary of the Naismith Basketball Hall of Fame in Springfield, Mass. Rep. Richard Neal, D-Mass., submitted the House’s draft, H.R. 4592. Sen. Elizabeth Warren, D-Mass., introduced the Senate’s version, S. 2598, on Feb. 25.
If signed into law, the coins physically would be similar to the 2014 National Baseball Hall of Fame coin program.
The bills call for 50,000 gold $5, 400,000 silver dollar and 750,000 clad half dollar coins to be struck in a cupped shape. Both uncirculated and proof versions would be produced.
The cupped nature of the coins allows the common reverse design of a basketball to appear rounded. The obverse design highlighting the game of basketball would be selected in a competition.
Surcharges on coin sales would amount to $35 for the $5 gold, $10 for silver dollar and $5 for the clad half. The collected funds would go to the Naismith Basketball Hall of Fame.
The Hall of Fame opened in 1959 to educate and preserve the history of basketball. Its namesake, Dr. James Naismith, developed the game of basketball in 1891 while teaching in Springfield, Mass.
This article was originally printed in Numismatic News.
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