District of Columbia and United States Territories Circulating Quarter Dollar Program Act

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The District of Columbia and United States Territories Circulating Quarter Dollar Program Act (H.R.392) would amend existing law for the issuance of commemorative quarters. It would call for the issuance of commemorative coins for the District of Columbia and the territories of Puerto Rico, Guam, American Samoa and the U.S. Virgin Islands. Coins for each state had already either been released or a release was planned.


Article summary (how summaries work)

The bill would call for the issuance of commemorative coins for the District of Columbia and the territories of Puerto Rico, Guam, American Samoa and the U.S. Virgin Islands. Coins for each state had already either been released or a release was planned. In addition to the proposed coins' value to collectors, the federal government would likely make a sizable profit due to collecting. In April 2005, the Congressional Budget Office estimated that seigniorage (profit due to unspent coinage) from the statehood quarters issued prior to date had exceeded $4.5 million. An extension to the program would likely provide an additional half-million dollars in seigniorage.

Under the principles established by the President's 1967 Commission on Budget Concepts, seigniorage does not directly affect the budget but is treated as a means of financing the deficit.


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Current status

The bill passed in the House on January 23, 2007 by a voice vote. It is awaiting consideration by the Senate.



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