Legislation For Ronald Reagan Commemorative Gold, Silver Coins Proceeding

In concordance with the 100th anniversary of President Reagan's birth, legislation has been introduced to issue commemorative silver and $5-face gold coins with the former President's visage on them.

The Ronald Reagan Commemorative Coin Act of 2011, also known as H.R. 497 was introduced January 26. U.S. Rep Bob Latta (R-Ohio) filed the legislation, which is the first pertaining to coins this year. It would authorize a maximum of 300,000 commemorative silver dollars and 50,000 commemorative $5 gold coins.

Thus far, H.R. 497 is supported by 28 cosponsors but passage is in question because the coins would carry an inscription referring to the late president's 100th birthday, which would have been February 6, 2011. The coins would not be minted until 2017 and they would be marked with that year.

The obverse would have an image of President Reagan with the reverse sporting an eagle carrying an olive branch flying over a nest with a second eagle and hatchlings. Presumably, it ties in with the family-values theme. Both coins will be 90% precious metal and 10% base-metal filler.

President Reagan may not be that popular amongst libertarian purists, but he was the sitting President when the first American Eagles were minted. So, there is a fitting tie-in.