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Monday, June 14, 2010

Redesign of the 50 Dollar Bill to Commemorate President Ronald W. Reagan

Pauline Smale
Analyst in Financial Economics

President Ronald W. Reagan, the 40th President of the United States, died on June 5, 2004. Since President Reagan's death, there have been several attempts to pass legislation that would place the likeness of President Reagan on U.S. coin or currency. Similar action was taken after the death of Presidents Franklin D. Roosevelt, Dwight D. Eisenhower, and John F. Kennedy. The portrait of President Roosevelt was placed on the dime, President Kennedy's portrait was placed on the half dollar, and President Eisenhower's portrait was placed on a dollar coin. Current legislation (H.R. 4705, the President Ronald Reagan $50 Bill Act) would place the likeness of President Ronald W. Reagan on the circulating $50.

This report discusses the history of the current design of the circulating coin and currency and the statutory requirements for the designs and portrait changes. It reviews what was done after the deaths of the three other Presidents. It concludes with a discussion of the current proposal and describes possible issues raised by the legislation.

Date of Report: June 3, 2010
Number of Pages: 6
Order Number: RS21907
Price: $19.95

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