United States Bicentennial Coinage - Authorization

Authorization

In January 1973, Texas Representative Richard C. White introduced legislation for commemorative dollars and half dollars. Oregon Senator Mark Hatfield also put forward a bill, calling for a $25 gold piece. On March 2, 1973, the Treasury announced its support for Bicentennial coin legislation for design changes to the reverses of the circulating dollars and half dollars, and sent proposed legislation to Congress three days later. Hearings before a subcommittee in the House of Representatives were held on May 2, 1973. Brooks testified, supporting the limited redesign in the bill, but opposing a more extensive coin redesign. Separately from the Bicentennial matter, she asked for authority to strike US coins at the West Point Bullion Depository, where space was available to install older coinage presses. Brooks deprecated the Hatfield proposal, stating that the coin would have to be .667 pure or less to avoid hoarding.

As a result of the hearings, several additional bills were introduced, and additional hearings were held before a Senate subcommittee on June 6. Brooks testified again, and responding to criticism that only the two least popular denominations were to be changed, indicated her support for a Bicentennial quarter as well. On June 13, a bill, S. 1141 which provided for a circulating Bicentennial quarter, half dollar and dollar, gave permission for coins to be struck at West Point and allowed for 40% silver clad versions of the new coins for collectors was reported favorably by the Senate Banking Committee. It passed the Senate on July 13. However, amendments authorizing US citizens to own gold, and to implement the Hatfield proposal were attached to the bill. A similar bill passed the House of Representatives on September 12, differing from the Senate bill in lacking any provision relating to gold, and in not authorizing silver versions of the new coins.

Members of the two houses met in a conference committee on September 19 in a session described by onlookers as "fairly hot and heavy". The resulting bill had no gold provisions, but authorized changes to the reverses of the quarter, half dollar and dollar for the Bicentennial. The obverses of the three coins would not change, but would bear the double date 1776–1976. By the terms of the statute, all coins minted to be issued after July 4, 1975 and before January 1, 1977 would bear the Bicentennial dates and designs. Congress directed the Mint to strike 45,000,000 silver clad coins (that is, 15,000,000 sets), and the Mint received the requested authority to strike coins at West Point. Circulation quarters, half dollars and dollars would continue to be of copper nickel bonded to an internal layer of copper, that is, copper nickel clad. The modified bill passed both houses of Congress on October 4, 1973, and the bill was signed into law by President Richard Nixon on October 18. Hatfield's measure, along with similar legislation from other senators, was reintroduced in 1975, but died in committee, as did legislation seeking a Bicentennial two-cent piece and a bill seeking a coin honoring Abigail Adams and Susan B. Anthony. The extra production at West Point was key to overcoming a shortage of cents in 1974, and permitted the Mint greater flexibility as it geared up to strike the Bicentennial pieces.