NEW YORK (CBS/AP) — A new pink coin will be developed by the U.S. Mint to promote breast cancer awareness and raise money for cancer research.

U.S. Rep. Carolyn Maloney said Monday that federal officials will hold a contest for the artwork to be displayed on the coin.

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The New York Democrat introduced the legislation to develop the coin.

It is part of a set of three new coins, including silver dollar coins and half dollar coins. A portion of the proceeds from the coin sales will be donated to the New York-based nonprofit group Breast Cancer Research Foundation.

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Maloney says it will be the first time the U.S. Mint uses a formula to give a coin a pink tint.

The coins are expected to be released in 2018.

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