President Bush on Monday signed into law the U.S. Army Commemorative Coin Act, H.R. 5714. The legislation surprisingly passed during the lame duck session in Congress as it enjoyed unanimous support in both chambers.
The act authorizes the Treasury Secretary to mint and issue clad, silver and gold coins in 2011 to celebrate the 1775 establishment of United States Army, and its 230-year role in American society.
The $5 gold coin will have a limited mintage of 100,000, the $1 silver dollar a total of up to 500,000 coins, and the 50c clad a maximum mintage of 750,000.
Sales of each coin will include surcharges with proceeds paid to the Army Historical Foundation to help fund the National Museum of the United States Army at Fort Belvoir, Virginia.
