NICAC, a committee of NCBA, has identified many concerns regarding profits from the planned commemorative.
The World Cup Commemorative Coins are planned for 2026.
The World Cup Commemorative Coins are planned for 2026.
The Numismatic Industry Coinage Advisory Committee (NICAC), a special committee of the National Coin & Bullion Association, today released a report, “NICAC’s Concerns Regarding Pending Legislation for a 2026 World Cup Commemorative Coin,” expressing concerns with legislation authorizing the minting of coins commemorating the 2026 FIFA World Cup.
“Eighteen months ago, NICAC urged Congress to adopt a coin program observing our nation’s role as one of three host nations for the 2026 World Cup,” said Philip Diehl, NICAC’s chairman. “Unfortunately, FIFA has chosen to proceed with its own ideas, and the result is deeply flawed.”
Profits from sales of the coins would be paid to FWC2026 US, Inc., a wholly owned subsidiary of FIFA, the Zurich-based organizer of the World Cup. FWC2026 US, Inc., could receive well in excess of $12 million from the program, 10 times its revenue from 2022 (the latest year available), which totaled $1.1 million.
NICAC’s report identifies several concerns with the proposed legislation:
NICAC urges Congress to work with FIFA and this committee to address these concerns.
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Source: National Coin and Bullion Association
The exemption from sales and use tax for currency and bullion sales is set to take effect on August 1, 2024.
Precious-metal coins and $1,000 face-value bags of 90% silver no longer fall within the scope of reportable items.
Wisconsin Statute Section 77.54(71) provides the legal foundation for this exemption, defining “precious metal bullion” and outlining its scope.
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