H.R. 550 would authorize the Speaker of the House of Representatives and the President pro tempore of the Senate to present on behalf of the Congress a gold medal to recognize the service of the people in the Merchant Marine during World War II. The medal would be displayed at the American Merchant Marine Museum in Kings Point, New York. To help recover the costs of the medal, the bill would authorize the U.S. Mint to strike and sell bronze duplicates of the medal at a price that covers production costs for both the medal and the duplicates.
Based on the costs of recent medals produced by the Mint, CBO estimates that enacting H.R 550 would increase direct spending from the U.S. Mint Public Enterprise Fund by about $30,000, including about $25,000 for the cost of the gold and about $5,000 for the costs to design, engrave, and manufacture the medal. Using information from the Mint about the sales of bronze duplicates of other medals, CBO expects that the Mint would recoup little of its cost by selling bronze duplicates to the public.
