A new piece of legislation has been introduced in Congress that is raising concerns among collectors and industry experts. This legislation proposes a commemorative coin program for the 2026 FIFA Men’s World Cup, which will be hosted by the United States, Mexico, and Canada. The coins would be issued by the U.S. Mint, with profits potentially benefiting soccer programs in the U.S. However, this proposal has sparked debates over how the funds will be used, who will benefit, and whether FIFA’s role in the program could lead to unfair practices. Let’s break down the details of this issue and the concerns being raised by experts.
What Is the FIFA 2026 Commemorative Coin Program?
The 2026 Men’s World Cup is a major international event, and the United States will be one of the host countries. As part of celebrating this event, the U.S. Mint is planning to release a series of commemorative coins. The program would include gold, silver, and copper-nickel clad coins that feature designs honoring the World Cup.
The Legislation Behind the Coins
On February 23, 2024, Representative Darin LaHood introduced a bill in the U.S. House of Representatives, and Senator Todd Young introduced a similar bill in the Senate on April 17, 2024. The bills call for up to 100,000 gold coins, 500,000 silver dollars, and 750,000 copper-nickel clad half dollars to be produced for the commemorative coin program.
Each coin will have a surcharge added to its retail price, which will be directed to a subsidiary of FIFA called FWC2026 US Inc. This organization is responsible for organizing the World Cup in the U.S. in 2026.
| Aspect | Details |
|---|---|
| Legislation | H.R. 7438 (introduced in House) and S. 4141 (introduced in Senate) are proposed bills for a 2026 World Cup commemorative coin program. |
| Countries Involved | The United States, Mexico, and Canada are the host countries for the 2026 FIFA World Cup. |
| FIFA’s Role | FIFA is a global body that oversees soccer tournaments and is based in Zurich. |
| NICAC’s Role | NICAC (Numismatic Industry Coinage Advisory Committee) raised concerns about the coin program, chaired by Philip N. Diehl, the 35th U.S. Mint director. |
| Concerns Raised | – FIFA’s connection to the program could result in profits going to FWC2026 US Inc. – The funds might not be used solely for youth programs. – Lack of reciprocity between host nations in profit-sharing. – Discounted bulk sales by a European firm could hurt U.S. collectors. |
| Legislation Details | – Proposed minting: 100,000 gold $5 coins, 500,000 silver dollars, 750,000 copper-nickel half dollars. – Surcharges: $35 for gold coins, $10 for silver dollars, $3 for half dollars. |
| Surcharge Allocation | Net surcharges after costs would go to FWC2026 US Inc., a FIFA subsidiary. |
| Previous World Cup Coin Program | The U.S. Mint issued World Cup coins in 1994, generating $9.3 million for U.S. youth soccer programs. |
Concerns Raised About the Coin Program
Though the commemorative coins might sound like a great way to celebrate the World Cup, several concerns have been raised by industry professionals, including the Numismatic Industry Coinage Advisory Committee (NICAC).
1. Where Will the Profits Go?
One of the biggest concerns is about how the profits from the coins will be used. The bills suggest that some of the funds will go toward programs for “inner-city youth,” but the language is unclear. The money could also be used for other purposes, such as building new soccer facilities or training elite teams. This lack of clarity raises questions about whether the funds will truly benefit youth soccer programs as intended.
2. FIFA’s Influence on the Program
FIFA, the organization responsible for organizing the World Cup, has had a controversial history, including accusations of corruption. NICAC argues that FIFA’s involvement in the program is problematic. A major concern is that FIFA’s subsidiary, FWC2026 US Inc., could receive a large portion of the profits from the coin program—potentially over $12 million, which is much higher than their most recent reported revenue of $1.1 million in 2022.
3. International Profit-Sharing Issues
The bills do not specify whether Canada and Mexico will also receive profits from their respective coin programs. Additionally, FIFA’s long-standing partnership with an international numismatic company means that coins sold abroad might be sold at discounted rates, which could limit the number of coins available in the U.S. market.
4. Possible Minting Changes
Another concern is the potential for changes in the number of coins to be minted. The bills allow the Treasury Secretary to raise minting limits based on market research conducted by FIFA. This could lead to more coins being produced, reducing their scarcity and value, which collectors highly value.
Proposed Coin Designs and Surcharges
The 2026 World Cup coin program includes several types of coins with different surcharge amounts.
- Gold Coins: Up to 100,000 gold $5 coins, with a $35 surcharge per coin.
- Silver Coins: Up to 500,000 silver dollar coins, with a $10 surcharge per coin.
- Clad Half Dollars: Up to 750,000 copper-nickel clad half dollars, with a $3 surcharge per coin.
The net surcharges, after the U.S. Mint covers its costs, will be sent to FWC2026 US Inc. to support the World Cup in the U.S.
History of Commemorative Coins for the World Cup
In the past, the U.S. Mint has produced commemorative coins for major events, including the 1994 World Cup. Those coins raised $9.3 million in net surcharges, which were used to promote youth soccer in the U.S. This program was widely seen as successful and helped grow the popularity of soccer in the country. However, this new proposal has raised doubts due to FIFA’s involvement and how the funds will be used.
Conclusion
The proposed commemorative coin program for the 2026 FIFA Men’s World Cup is causing a stir due to the involvement of FIFA and the potential misdirection of funds. While the coins themselves are a great way to celebrate the event, there are many concerns about the transparency of how the money will be used and whether it will truly benefit soccer programs for youth. NICAC and other experts are urging Congress to reconsider the proposal and work more closely with FIFA to address these concerns.
The upcoming legislation is still under review, and it remains to be seen whether the U.S. Mint will proceed with the program as currently planned or make adjustments based on feedback from industry professionals.
FAQs
1. What is the purpose of the proposed 2026 World Cup coin program?
The coin program is proposed to commemorate the United States, Mexico, and Canada hosting the 2026 FIFA World Cup. It aims to produce coins for collectors, with net profits intended to support soccer programs in the U.S.
2. Who is responsible for the concerns raised about the coin program?
The concerns were raised by the Numismatic Industry Coinage Advisory Committee (NICAC), which is chaired by Philip N. Diehl, former U.S. Mint director.
3. How much money could FIFA’s subsidiary, FWC2026 US Inc., receive from the coin program?
FWC2026 US Inc. could receive over $12 million, potentially 10 times its 2022 revenue, from the proposed coin program.
4. How would the profits from the coin sales be used?
The proposed legislation suggests that profits would go to U.S.-based soccer programs, such as youth initiatives, training centers, or national teams. However, there is concern that these funds might not be used solely for youth programs.
5. Why are there concerns about the European numismatic business involved?
The bills would allow a European business to purchase coins at discounted rates and sell them abroad, which could limit the availability of coins in the U.S. market and impact U.S. collectors.