2026 World Cup Hold Up

The 2026 FIFA World Cup will take place in 16 cities in Canada, Mexico, and the United States. It’s expected to garner record-breaking attendance and be the most successful World Cup in history. To recognize the event, the U.S. Mint plans to strike commemorative gold, silver, and clad coins. 

However, the Numismatic Industry Coinage Advisory Committee (NICAC), a special committee of the National Coin & Bullion Association, has identified several problems with the authorizing legislation’s verbiage. The committee expressed its concerns in a report released on July 10.

“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,” says 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 World Cup’s Zurich-based organizer. 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: 

• While the bills suggest profits from coin sales would go to programs for “inner-city youth,” in fact, the money could be used for any U.S.–based soccer program, including the construction of a new headquarters and/or national training center for the U.S. Soccer Federation, developing elite national teams, and increasing the pool of referees. 
• It is unclear whether profits would be shared with Canada Soccer and the Mexican Football Federation. Regardless, the bills do not require reciprocity in profit-sharing from the commemorative coin programs of the other two host nations. 
• FIFA has a longstanding, revenue-sharing partnership with an international numismatic business. The bills would enable this European firm to make discounted bulk purchases of coins and sell them to World Cup fans and coin collectors abroad, shortchanging the U.S. market. 
• According to the bill, the Treasury secretary could raise mintages set by law at any time based on market research FIFA would conduct. Collectors value scarcity and consider changes in mintages set by law a form of bait-and-switch marketing. 

NICAC urges Congress to work with FIFA and the committee to address these concerns.