United States heavy reliance on imports of critical minerals (CMs), including rare earth elements (REEs), underscores the importance of development of domestic sources. The study objective was to quantify CM and REE concentrations in coal and coal ash in the US Gulf Coast region. CM and REE concentrations were measured for 118 samples from outcrops and 14 mines in the Gulf Coast. Results show that total REE + Yttrium (REY) concentrations (dry coal basis) are comparable to those of the upper continental crust (UCC) with localized hot spots, such as the Texas Gibbons Creek mine (REY ≤ ~ 2860 ppm). When normalized to UCC REY concentration (169 ppm, dry coal basis), REY to UCC ratios for Gulf Coast coal samples range from 0.1 to 17 (median ratio 0.6). REE extractability from lignites is high (median: 63%–93%) using environmentally benign weak acid. In addition to raw coal, coal ash from power plants could also serve as an REE source with a median ratio of REY in ash relative to coal of 4; however, extractability from coal ash is generally much lower (≤ 5% using the same weak acid as in coal). The median basket price for extracted REY as oxides from coal, assuming 70% extractability, is $3.2 per tonne of coal and $186 billion based on 58 billion metric tonnes of dry coal in the Gulf Coast. REEs important for magnets (Pr + Nd + Tb + Dy) account for ~ 80% of the total value. The corresponding median basket price for extracted REY as oxides from coal ash, assuming ~ 30% extractability, is ~$4.4 per tonne of ash and $1.2 billion based on 258 million tonnes of ash. REE production from coal would likely require co-products, such as activated carbon or humic acids, to attain economic viability. Production of REEs from coal ash could offset remediation costs related to potential water contamination. This reconnaissance study shows the potential for REE production from coal and coal ash in the Gulf Coast; however, carbon coproducts and/or societal benefits would likely be required for socioeconomic viability.