Bill Overview
Title: Harriet Tubman Bicentennial Commemorative Coin Act
Description: This bill directs the Department of the Treasury to mint and issue 50,000 $5 gold coins, 400,000 $1 silver coins, and 750,000 half-dollar clad coins emblematic of the legacy of Harriet Tubman as an abolitionist. The Secretary may issue coins under this bill only during the period of January 1, 2024, through December 31, 2024. All surcharges received by Treasury from the sale of such coins must be paid equally to the National Underground Railroad Freedom Center in Cincinnati, Ohio, and The Harriet Tubman Home, Inc. in Auburn, New York, for the purpose of accomplishing and advancing their missions.
Sponsors: Rep. Meeks, Gregory W. [D-NY-5]
Target Audience
Population: Coin collectors and cultural heritage institutions
Estimated Size: 750000
- The commemorative coins are designed to honor Harriet Tubman, which may have a cultural and educational impact on those interested in American history, particularly regarding the abolitionist movement.
- Coin collectors, particularly those interested in historical or commemorative coins, are likely to show significant interest and purchase these coins.
- Institutions that benefit directly from the proceeds, such as the National Underground Railroad Freedom Center and The Harriet Tubman Home, Inc., are directly impacted, as they receive financial support to advance their missions.
- The coins will be issued and can be purchased globally, making them available potentially to collectors and institutions worldwide.
Reasoning
- The primary impact of the Harriet Tubman Bicentennial Commemorative Coin Act will be on coin collectors and cultural heritage institutions. Given the budget and size limits, the impact on the larger U.S. population will be minimal, as this is largely a cultural initiative with specific financial beneficiaries.
- People involved in and enthusiastic about U.S. history, particularly the abolitionist movement, may experience a boost in cultural pride and educational benefits. However, their individual wellbeing is unlikely to be dramatically affected.
- Professional coin collectors and dealers are likely to see a moderate impact on their business due to the limited edition nature of the coins and their potential increase in value over time.
- Cultural institutions benefiting from the policy will experience high impact due to financial support that can enhance their programming and outreach capabilities.
Simulated Interviews
Curator (Cincinnati, Ohio)
Age: 35 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- This initiative will help us preserve and promote the legacy of Harriet Tubman.
- It's a great opportunity to educate more people about the Underground Railroad.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 6 |
Coin Collector (Houston, Texas)
Age: 52 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- It's an exciting addition to my collection, especially due to its historical significance.
- I expect these coins to be a worthwhile investment.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 5 |
Historian (Auburn, New York)
Age: 29 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- This policy provides necessary funding for historical preservation.
- More people visiting The Harriet Tubman Home can boost community pride.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Teacher (Philadelphia, Pennsylvania)
Age: 40 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 8/20
Statement of Opinion:
- These coins offer a unique way to engage students with history.
- It's an excellent opportunity for learning through tangible items.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 4 | 3 |
Coin Dealer (New York, New York)
Age: 66 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- Demand for these coins might increase shop visits and sales.
- Commemorative coins are always a highlight for collectors.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 5 |
Student (Los Angeles, California)
Age: 22 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 2.0 years
Commonness: 12/20
Statement of Opinion:
- I might buy one, but I'm more interested in the educational materials produced.
- It broadens access to Tubman's legacy.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 4 | 4 |
| Year 3 | 4 | 3 |
| Year 5 | 4 | 3 |
| Year 10 | 3 | 3 |
| Year 20 | 3 | 2 |
Civil Rights Activist (Atlanta, Georgia)
Age: 55 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- Highlighting Tubman's legacy is always beneficial for awareness.
- The financial support for educational centers is crucial.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 9 | 5 |
| Year 20 | 8 | 4 |
Financial Advisor (San Francisco, California)
Age: 38 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 2.0 years
Commonness: 9/20
Statement of Opinion:
- These coins might make for a good short-term investment.
- Their cultural significance adds intangible value.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 4 |
| Year 5 | 4 | 4 |
| Year 10 | 4 | 3 |
| Year 20 | 3 | 3 |
Museum Director (Chicago, Illinois)
Age: 30 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- The coins could be part of a new exhibit, increasing visitor numbers.
- The awareness they raise is important for history education.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 5 | 4 |
| Year 20 | 4 | 3 |
Community College Professor (Miami, Florida)
Age: 44 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 8/20
Statement of Opinion:
- Using the coins in class could make lessons more engaging.
- This helps in integrating material culture into learning.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 4 | 3 |
Cost Estimates
Year 1: $15000000 (Low: $12000000, High: $18000000)
Year 2: $0 (Low: $0, High: $0)
Year 3: $0 (Low: $0, High: $0)
Year 5: $0 (Low: $0, High: $0)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The act is a limited-time production designed to honor a historical figure, potentially increasing educational awareness and interest in Harriet Tubman's legacy.
- Coin collector demand will drive the financial success and economic impact of the initiative.
- Marketing and promotional efforts are crucial to maximizing sales and achieving the desired educational and cultural impacts.
- Ensuring the production costs are controlled to make the initiative financially viable is important to avoid additional government expenditures.