H.R. 1546 — Erie Canal Bicentennial Commemorative Coin Act

This section states seven congressional findings on the Erie Canal's history (built 1817–1825, spanning 363 miles from Albany to Buffalo), its role in sparking the U.S. industrial revolution (cutting travel time in half and freight rates by 90%), enabling settlement and social reforms, shaping upstate New York's geography (80% of population within 25 miles of corridor), and ongoing recreational value.

This section directs the Secretary of the Treasury to mint and issue (1) up to 50,000 $5 gold coins weighing 8.359 grams, with a 0.850-inch diameter, and containing at least 90% gold; (2) up to 400,000 $1 silver coins weighing 26.73 grams, with a 1.500-inch diameter, and containing at least 90% silver; and (3) up to 750,000 half-dollar clad coins weighing 11.34 grams, with a 1.205-inch diameter, and minted to the specifications in 31 U.S.C. 5112(b). This section declares such coins to be legal tender, as provided in 31 U.S.C. 5103 (i.e., acceptable for all debts, public charges, taxes, and dues), and considers them numismatic items for purposes of 31 U.S.C. 5134 (authority to mint and issue) and 5136 (sale price requirements).

This section establishes design requirements for coins minted under this Act, requiring designs emblematic of the Erie Canal and its impact on the development of the United States and New York State, along with a designation of the coin's value, the year “2026,” and inscriptions of “Liberty,” “In God We Trust,” “United States of America,” and “E Pluribus Unum.” The section directs the Secretary to select the designs after consultation with the Commission of Fine Arts and Erie Canalway Heritage Fund, Inc., subject to review by the Citizens Coinage Advisory Committee.

This section requires coins minted under this Act to be issued in uncirculated and proof qualities and limits issuance to the one-year period beginning January 1, 2026.

This section requires the Secretary to sell coins issued under the Act at a price equal to (1) the face value of the coins, (2) the surcharge provided in section 7(a), and (3) the cost of designing and issuing the coins (including labor, materials, dies, use of machinery, overhead expenses, marketing, and shipping). The section further directs the Secretary to make bulk sales of the coins at a reasonable discount and to accept prepaid orders for the coins before issuance, also at a reasonable discount.

This section establishes surcharges on sales of coins issued under the Act—(1) $35 per $5 coin, (2) $10 per $1 coin, and (3) $5 per half-dollar coin—with all proceeds paid to the Erie Canalway Heritage Fund, Inc., to support historic preservation, conservation, recreation, interpretation, tourism, and community development of the Erie Canalway National Heritage Corridor, as well as educational and commemorative programs on the Erie Canal's history. The surcharge recipient is subject to audit requirements under 31 U.S.C. 5134(f)(2). No surcharge applies if coin issuance would cause the number of commemorative coin programs in that calendar year to exceed the annual limit of two under 31 U.S.C. 5112(m)(1).

This section requires the Secretary of the Treasury to ensure that (1) minting and issuing coins under this Act results in no net cost to the U.S. government; and (2) no funds, including surcharges, are disbursed to recipients designated in section 7 until the Treasury recovers all costs of designing and issuing the coins (i.e., labor, materials, dies, machinery use, overhead, marketing, and shipping), consistent with surcharge and numismatic item requirements.