Bill Overview
Title: Fleet Reserve Association 100th Anniversary 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 in recognition and celebration of the 100th anniversary of the Fleet Reserve Association. All sales of coins issued under this bill shall include a surcharge which shall be paid to the Fleet Reserve Association.
Sponsors: Rep. Bilirakis, Gus M. [R-FL-12]
Target Audience
Population: People connected to the Fleet Reserve Association and coin collectors
Estimated Size: 1200000
- The Fleet Reserve Association is an organization composed of current and former enlisted members of the U.S. Navy, Marine Corps, and Coast Guard, totaling about 1,000,000 individuals in the U.S.
- Not every member will purchase a coin, but the existence of the coin directly impacts the organization, which supports active duty and veterans.
- Collectible coins often have broader appeal beyond the organization's members, attracting collectors worldwide.
- The U.S. has a significant hobbyist community of coin collectors, numbering between 100,000 to 150,000 based on membership of the American Numismatic Association and other hobbyist data.
- The surcharge on the sales will channel financial support to the FRA, indirectly benefiting service members and veterans.
Reasoning
- The Fleet Reserve Association primarily serves current and former enlisted members of the U.S. Navy, Marine Corps, and Coast Guard. These individuals and their families are directly connected to this organization, whose wellbeing may be impacted by any additional financial support provided via the surcharges from the minted coins.
- Coin collectors form a significant portion of those interested in the sale of these coins, but the policy's impact on their wellbeing is likely low to moderate unless they are very keen collectors of military-themed coins.
- The policy directly provides a financial boost to the Fleet Reserve Association, which may translate to improved services or programs benefiting members.
- Given the zero budget requirement, the policy essentially funds itself through the sale of commemorative coins, allowing the financial support to go directly to the Fleet Reserve Association.
- A large segment of the population may remain unaffected as they aren't directly connected to the Fleet Reserve Association or may not have a significant interest in coin collecting.
Simulated Interviews
Retired Navy Chief Petty Officer (Florida)
Age: 72 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- I think this policy is a great way to honor the 100th anniversary of the Fleet Reserve Association.
- The coins could serve as a lasting memento for fellow service members and their families.
- I'm pleased the surcharges will benefit the association directly.
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 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Marine Corps Veteran, FRA active member (Virginia)
Age: 38 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- The coins are a meaningful way to commemorate our service community's history.
- It's nice to know that buying a coin can support the Fleet Reserve Association.
- Improvements in FRA's resources can help more veterans like myself.
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 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 5 |
Coin Dealer (California)
Age: 65 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 2.0 years
Commonness: 8/20
Statement of Opinion:
- These coins will attract interest; they are military-themed and commemorative, which always sells well.
- I'm not personally affected by the policy outside of it being a potential business opportunity.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Coast Guard Petty Officer (Texas)
Age: 47 | Gender: other
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 6/20
Statement of Opinion:
- I might purchase these coins as a token of my service.
- The policy won't majorly impact me, but I'm happy the funds will help the FRA.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Elementary School Teacher (Illinois)
Age: 55 | Gender: female
Wellbeing Before Policy: 9
Duration of Impact: 0.0 years
Commonness: 12/20
Statement of Opinion:
- I often collect commemorative coins, and I like that these support veterans.
- While I support the cause, it won't deeply affect my day-to-day life.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 9 |
| Year 3 | 9 | 9 |
| Year 5 | 9 | 9 |
| Year 10 | 9 | 9 |
| Year 20 | 9 | 9 |
Financial Analyst (New York)
Age: 32 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 10/20
Statement of Opinion:
- The policy is intriguing as an investment opportunity in collectable coins.
- Although I have no direct link to the Fleet Reserve Association, the coins could be a worthwhile collectible.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Navy Reservist (Arizona)
Age: 29 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 7/20
Statement of Opinion:
- I'm happy that the coins will contribute to the FRA's support of veterans.
- It's good to see tangible recognition, even if indirect.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Retired MAD (Nebraska)
Age: 60 | Gender: male
Wellbeing Before Policy: 9
Duration of Impact: 0.0 years
Commonness: 12/20
Statement of Opinion:
- The design and the significance of military coins interests me even if I'm not directly connected.
- These coins create a good discussion topic.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 9 |
| Year 3 | 9 | 9 |
| Year 5 | 9 | 9 |
| Year 10 | 9 | 9 |
| Year 20 | 9 | 9 |
Coast Guard Veteran (Maine)
Age: 50 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 4/20
Statement of Opinion:
- I'm grateful that my old association might gain some much-needed funds.
- While I might not buy a coin, others doing so could help improve FRA's offerings.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 5 |
Software Developer (Pennsylvania)
Age: 40 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 1.0 years
Commonness: 9/20
Statement of Opinion:
- I frequently collect such coins for their rarity and occasionally resell them.
- It's a nice addition to my collection, but it won't impact my wellbeing.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Cost Estimates
Year 1: $0 (Low: $0, High: $0)
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
- CBO estimates the net impact to taxpayer funds is minimal since the treasury's costs are offset by subsequent sales at marked-up prices.
- Sales are influenced by collector interest and economic conditions, which could vary the actual revenue collected.