April 2018 Numismatic Legislation Review

The first of the month is when I usually report about the introduction or progress of numismatic-related legislation in congress for the previous month. For April 2018, there is nothing to report.

Thus far, the 115th Congress passed The American Legion 100th Anniversary Commemorative Coin Act (Pub. L. 115-68) which allows for a gold $5, silver dollar, and clad half-dollar coins to commemorate the American Legion in 2019.

There have been no authorizing laws passed for commemoratives after 2019.

Two bills have passed the House of Representatives and are waiting in committees in the Senate for action:

  • The Naismith Memorial Basketball Hall of Fame Commemorative Coin Act (H.R. 1235) would allow the minting of q gold $5, silver dollar, and clad half-dollar coins in honor of the 60th anniversary of the Hall of Fame in Springfield, Massachusetts.
  • The American Innovation $1 Coin Act (H.R. 770) would be a 14-year $1 coin program that would issue coins commemorating innovation and innovators representing each state, the District of Columbia, and U.S. territories.

Just because these bills passed in the House does not mean the Senate will do anything about them. Both can die in committee without any consideration.

So that the record is complete, here are the numismatic-related bills introduced in the House of Representatives waiting in committee:

  • Muhammad Ali Commemorative Coin Act (H.R. 579)
  • Duty First Act (H.R. 1582)
  • National Purple Heart Hall of Honor Commemorative Coin Act (H.R. 1683)
  • Cents and Sensibility Act (H.R. 2067)
  • Christa McAuliffe Commemorative Coin Act of 2017 (H.R. 2256)
  • Currency Optimization, Innovation, and National Savings Act of 2017 (H.R. 2299)
  • United States Coast Guard Commemorative Coin Act of 2017 (H.R. 2317)
  • President John F. Kennedy Commemorative Coin Act (H.R. 3274)
  • 75th Anniversary of the End of World War II Commemorative Coin Act (H.R. 4044)
  • Plymouth 400th Anniversary Commemorative Coin Act of 2017 (H.R. 4539)
  • National Law Enforcement Museum Commemorative Coin Act (H.R. 4732)
  • Women’s History and Nineteenth Amendment Centennial Quarter Dollar Coin Program Act (H.R. 5308)
  • To define the dollar as a fixed weight of gold. (H.R. 5404)

Not to be outdone, here is the list for the Senate:

  • Saint-Gaudens National Historical Park Redesignation Act (S. 312)
  • Currency Optimization, Innovation, and National Savings Act of 2017 (S. 759)
  • Duty First Act (S. 921)
  • United States Coast Guard Commemorative Coin Act of 2017 (S. 1021)
  • American Innovation $1 Coin Act (S. 1326)
  • Naismith Memorial Basketball Hall of Fame Commemorative Coin Act (S. 1503)
  • President John F. Kennedy Commemorative Coin Act (S. 1568)
  • Muhammad Ali Commemorative Coin Act (S. 166)
  • 75th Anniversary of the End of World War II Commemorative Coin Act (S. 1718)
  • Plymouth 400th Anniversary Commemorative Coin Act of 2017 (S. 2189)
  • American Innovation $1 Coin Act (S. 2399)

Yet another quarter series?

Nineteenth Amendment

With so little happening in Congress regarding numismatic-related legislation, it should not be a surprise that I would become excited I am alerted that there was something to see.

The excitement wore off when I saw the bill that was introduced.

Rep. Barbara Lee (D-CA) introduced H.R. 5308 with the initial title of To amend title 31, United States Code, to require the Secretary of the Treasury to mint and issue quarter dollars in commemoration of the Nineteenth Amendment, and for other purposes.

The text of the bill is not available, yet.

The Nineteenth Amendment granted women the right to vote. It was the culmination of the women’s suffrage movement. To amend the constitution, it passed the House of Representatives on May 21, 1919, the Senate on June 4, 1919, then by 36 of the 48 states on August 18, 1920.

How do you create a design to commemorate the Nineteenth Amendment? Will there be one quarter per state? If so, what would be on Maryland’s quarter? Maryland rejected the amendment in 1920, the legislature ratified it in 1941, but the vote was not certified until 1958.

Then there is Mississippi that rejected the amendment in 1920 but passed it in 1984 becoming the 48th and last state to ratify the amendment (Alaska and Hawaii were not admitted to the union at the time and are ineligible to vote on the amendment).

While it is appropriate to celebrate the 100th anniversary of Women’s Suffrage, maybe it should be a commemorative coin with the proceeds going to an organization like the League of Women Voters.

H.R. 5308: To amend title 31, United States Code, to require the Secretary of the Treasury to mint and issue quarter dollars in commemoration of the Nineteenth Amendment, and for other purposes.
Sponsor: Rep. Barbara Lee (D-CA)
Introduced: March 15, 2018
Referred to the House Committee on Financial Services. — Mar 15, 2018
This bill can be tracked at http://bit.ly/115-HR5308.

Weekly World Numismatic Newsletter for March 11, 2018

It was announced that the Royal Canadian Mint was issuing a silver Canadian dollar commemorating the 180th Anniversary of Baseball in Canada. Being a baseball fan, I went to the Royal Canadian Mint’s website to see if the coin was worth adding to my collection. The came sticker shock!

The coin is convex, similar to the 2014 Baseball Hall of Fame commemorative coins issued by the U.S. Mint. But that is where the similarities end. The reverse of the Canadian coin features a vintage baseball scene reminiscent of the 19th century inside a baseball-looking design. The obverse has the portrait of Queen Elizabeth II. It has a face value of $25 CDN.

Then there are the specifications. When I visited the Royal Canadian Mint’s website, I was floored when I noticed the issue price of 159.95 CAD or about $124.82 at the current exchange rate. Here is a comparison of the coins:

Royal Canadian Mint
180th Anniversary of Canadian Baseball
U.S. Mint
2014 Hall of Fame Commemorative Silver Dollar
Mintage 5,000 (limit) 400,000 (actual)
Proof: 268,076
Unc: 131,924
Face Value 25.00 CAD 1.00 USD
Composition 99.99% pure silver 90% silver
10% copper
Weight 30.75 g
(0.9886 troy ounce)
29.73 g
(0.9558 troy ounce)
Diameter 36.07 mm 38.1 mm
Silver Value
(16.57 USD spot)
16.38 USD 14.25 USD
Issue Price
(1 CAD = 0.78 USD)
159.95 CAD
(124.82 USD)
Proof: $56.95 (preorder: $51.95)
Unc: $52.95 (preorder: $47.95)

If you want a baseball commemorative coin and do not want to break the bank, you can still find the 2014 Baseball Hall of Fame Commemorative Silver Dollar within 20-percent of the issue price in original government packaging (OGP). Even though the artwork is very good, the price of the Canadian coin is too high. At a premium of over 970-percent over spot, it is difficult to justify.

And now the news…

 March 5, 2018

The Central Bank of Lithuania is calling on tech companies and blockchain experts from across the globe to help in the design and production of a digital collector coin. The Central Bank is organising a hackathon in May for third parties to help in the design and development of the one-off virtual currency. → Read more at finextra.com


 March 6, 2018

A new commemorative coin was unveiled Oct. 9 to mark the 100th anniversary of the end of World War I and honor those Americans who served. The silver dollar coin, authorized by Congress in 2014, features a service member holding a rifle to honor those who fought in the war from 1914 to 1918. → Read more at wadenapj.com


 March 6, 2018

Major League Baseball came to Canada in the 20th century with the debut of the Montreal Expos in 1969 and the Toronto Blue Jays in 1977, but that was far from the beginning of the country's history with the game. → Read more at mlb.com


 March 6, 2018

SPRINGFIELD, Ill. (WAND) – A design is needed for the Bicentennial Coin to commemorate the Illinois Bicentennial. Illinois State Treasurer Michael Frerichs announced the Bicentennial Coin Contest on Tuesday. → Read more at wandtv.com


 March 7, 2018

Reverse of new penny design, showing Abraham Lincoln and the Illinois State Capitol in Springfield. (U.S. Mint photo) → Read more at chicagotribune.com


 March 7, 2018

The Royal Mint is encouraging coin lovers to celebrate the UK “one coin at a time”. The new series of 10p coins were released into circulation on March 1 and features an A to Z of British landmarks, icons and traditions. → Read more at dailystar.co.uk


 March 8, 2018

A museum has started a bid to buy part of a gold sovereign hoard discovered hidden inside a piano. The find was made in 2016 in Shropshire when the piano's new owners had it retuned and repaired. It has since been declared as treasure. → Read more at bbc.com

Coin Collectors News
news.coinsblog.ws

Really? A real tribute proof? Give me a break!

Image of the alleged 1964 Morgan Dollar from the cover of A Guide Book to Morgan Silver Dollars 5th Ed. by Q. David Bowers

While watching television, a new advertisement sent off the usual bells and whistles that the numismatic industry needs to watch out for.

Our “friends” at the National Collectors Mint has seized on the story of the dies and drawings of a potential 1964 Morgan Dollar that was first published in the fifth edition of A Guide Book of Morgan Silver Dollars. They came up with a tribute proof.

As with all of their tribute proofs, it is clad in 71 milligrams of pure silver. To give you an idea of how much 71 milligrams is, it is 0.002504 ounce or just a little more than two one-thousandths of an ounce. If troy ounces are more your style, it is 0.0022827 troy ounces. This item has 4-cents worth of silver using the current silver price of $16.33 per troy ounce.

With mouth agape as I was trying not to throw something at the television, not only are they selling these at $9.95 each ($19.95 on their website) but they may have figured out a way not to have to embed the word COPY somewhere. They must have made a “deal” with someone in the Cook Islands to put their name on the coin so as to represent it as a coin issued by or for the Cook Islands.

On the back of the coin, rather than the regular legend, it says “TRIBUTE TO THE UNITED STATES OF AMERICA.” A portrait of Queen Elizabeth II is on the left side of the eagle and “COOK ISLANDS” is on the right. They are claiming that these are legal tender coins of the Cook Islands. The commercial does not identify these as non-circulating legal tender coins even though they do make that distinction on their website.

In all other ways, it looks like it could be a 1964 Morgan Dollar.

I was told that commercials for this coin first appeared last August, likely not on cable stations I watch. Apparently, they are stepping up their advertising because I saw it twice on Tuesday night.

Like most of their stuff, collectibility is in the eye of the beholder. However, if someone asks whether you think it is a good buy I would recommend you tell them to save their money. I have seen these “tribute coins” in the junk bins at shows for prices ranging from $1.00-$2.50. The fact that they are in dealer junk bins should be enough of a warning!

My new Rosy Medal

Obverse of the 2018 Rose Bowl Commemorative Medal from the Highland Mint

It has been a few weeks since my Georgia Bulldogs lost the national championship game in overtime. It was a devastating end to a great season, one I had not experienced since I was a junior at the University of Georgia in 1980.

In 1980, it was a big deal to pack the Redcoat Marching Band into seven busses and travel to New Orleans for the sUGAr Bowl. We thought it was great to spend New Year’s Eve on Bourbon Street and then play in the Superdome, what we called the World’s Largest Mushroom.

I can only imagine what the current Redcoats felt like when they climbed aboard a chartered 757 out of Atlanta to fly cross-country to attend the Rose Bowl. In 1980 there were 300 total members including auxiliaries and support staff. Today, there are almost 300 musicians in the band.

Reverse of the 2018 Rose Bowl Commemorative Medal from the Highland Mint

The last bowl game I went to as a member of the Redcoat Marching Band was the January 1, 1983 sUGAr Bowl where we lost to Penn State. I was not happy then but time moves on. Now that we are 35 years later, age has caught up with me and my distance from Athens means I watch the games from the comfort of my living room. The last game I attended was Homecoming in 2012. I have to try to get down there for Homecoming this year!

But that Rose Bowl game was something else. No matter who I talk with about the game, it was the most exciting game they have seen, especially for a Rose Bowl. It was the first time a Rose Bowl went to overtime. Needless to say, I was happy with the outcome!

Previously, I mentioned I was interested in obtaining a copy of the coin used in the coin toss. In the video, it appeared to be silver in a plastic capsule with the school logos on either side. When I received an answer from someone associated with the Rose Bowl committee, I was told that it was indeed a silver coin, specially struck for the game. Only a limited number are struck and given to VIPs. The game-used coin is saved as part of a Rose Bowl museum. There are no extras struck and none are for sale.

I decided to find an alternative.

The Highland Mint, in cooperation with the College Football Playoff, struck souvenir medals for each of the games. Medals were struck in brass and placed in a plastic holder with the matchup. They also offer a silver-plated brass medal in a capsule and a velvet-covered case.

A medal in a case is pedestrian. It can be mistaken for just about any collectible, even those from the U.S. Mint. I would rather have the commemorative plastic holder with the information about the game. It makes more of a statement and can be displayed on my desk.

As I work to open my new business, I am planning on having this medal in my new office. It will remind everyone that if there is an early kickoff next fall, we will close on-time at noon so that I can rush home to my television and watch the game. Hopefully next year I will buy one that says National Champions!

HOW 🌹 BOUT 🌹 THEM 🌹 DAWGS!

U.S. Mint Bombs on WWI Commem Sets

World War I Centennial 2018 Silver Dollar

The U.S. Mint just announced the availability of the World War I Centennial Silver Dollar and the World War I Centennial Silver Dollar and Medal Sets will begin on January 17, 2018. But what they announced does not make sense for collectors.

Of course, the U.S. Mint will sell an uncirculated and proof silver dollar that will come in their usual display cases with a Certificate of Authenticity. These are the coins that are required under the authorizing law (World War I American Veterans Centennial Commemorative Coin Act, Public Law 113-212) that were designed by LeRoy Transfield.

The U.S. Mint will also be selling five silver medals that will be issued in conjunction with the 2018 World War I Centennial Silver Dollar. Each medal, composed of 90 percent silver, pays homage to branches of the U.S. Armed Forces that were active in World War I: Army, Marine Corps, Air Service, Navy, and Coast Guard. Medal designs were announced last October. However, the U.S. Mint will only be selling the medals as part of a set with the silver dollar.

World War I Centennial 2018 Silver Dollar and Army Medal Set

By not selling the silver medals individually or as a set, if a collector wants to add all five to a collection, it will cost $99.95 per set ($499.75 total) and will require the purchase of five commemorative silver dollars.

Since there are no more surviving veterans of World War I, one can only assume that the commemorative coin and medal sets are being marketed to those that want to remember the service of those veterans. Creating these sets in this context makes sense. It does not make sense for the collector or for someone whose family did not serve in World War I or wants to just collect the medals.

This short-sightedness by the U.S. Mint may hinder potential sales of the commemorative coin whose proceeds are to benefit the United States Foundation for the Commemoration of the World Wars, an organization responsible for making sure we do not forget those who served.

With the decline in silver prices and the market interest in investing in silver at its lowest since before the Great Recession, a short-sighted decision like this will limit the sale of silver medals. This will lower the income and seigniorage the U.S. Mint will collect after seeing a decline in the sales of bullion-related products.

If the U.S. Mint cannot get this right, then maybe they should have a more broad community discussion so they can better understand the potential collector market because on this, they bombed!

Images courtesy of the U.S. Mint.

December 2017 Numismatic Legislation Review

Each two-year term of congress is marked by sessions that begin every January 3rd at noon. When the House and Senate gavel into session on January 3, 2018, it will be the second session of the 115th Congress.

Political watchers have called the 115th congress everything from contentious to partisan to dysfunctional to names that cannot be repeated to a family audience. One thing they have not called this congress: boring.

For numismatists, Congress did pass The American Legion 100th Anniversary Commemorative Coin Act (Public Law No. 115-65) making it the second commemorative coin program for 2019. The Apollo 11 50th Anniversary commemorative is the other. Also, two bills passed the House and have been sent to the Senate for their consideration:

  • Saint-Gaudens National Historical Park Redesignation Act (H.R. 965)
    This bill redesignates the Saint-Gaudens National Historic Site, in New Hampshire, as the “Saint-Gaudens National Historical Park.”
  • Naismith Memorial Basketball Hall of Fame Commemorative Coin Act (H.R. 1235)
    This bill creates the first commemorative coin program in 2020 in recognition and celebration of the Naismith Memorial Basketball Hall of Fame in Springfield, Massachusetts.

In between the partisan wrangling, there were three bills were introduced in Congress last month. They are as follows:

H.R. 4539: Plymouth 400th Anniversary Commemorative Coin Act of 2017
Sponsor: Rep. William R. Keating (D-MA)
Introduced: December 4, 2017
Referred to the House Committee on Financial Services. — Dec 4, 2017
This bill can be tracked at http://bit.ly/115-HR4539.

S. 2189: Plymouth 400th Anniversary Commemorative Coin Act of 2017
Sponsor: Sen. Edward J. Markey (D-MA)
Introduced: December 4, 2017
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Dec 4, 2017
This bill can be tracked at http://bit.ly/115-S2189.

H.R. 4732: National Law Enforcement Museum Commemorative Coin Act
Sponsor: Rep. David G. Reichert (R-WA)
Introduced: December 21, 2017
Referred to the House Committee on Financial Services. — Dec 21, 2017
This bill can be tracked at http://bit.ly/115-HR4732.

In the meantime, the nomination of David Ryder to be the next Director of the U.S. Mint is now 73rd on the Senate Executive Calendar, down from 70th last month. A few nominations for key administrative positions were added to the calendar in front of Ryder. It is possible that his nomination will be confirmed within the next two months.

PN1082: David J. Ryder — Department of the Treasury
Date Received from President: October 5, 2017
Summary: David J. Ryder, of New Jersey, to be Director of the Mint for a term of five years, vice Edmund C. Moy, resigned.
Received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs. — Oct 5, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. — Oct 24, 2017
Committee on Banking, Housing, and Urban Affairs. Ordered to be reported favorably. — Nov 1, 2017
Reported by Senator Crapo, Committee on Banking, Housing, and Urban Affairs, without printed report. — Nov 1, 2017
Placed on Senate Executive Calendar. Calendar No. 458. Subject to nominee’s commitment to respond to requests to appear and testify before any duly constituted committee of the Senate. — Nov 1, 2017
This nomination can be tracked at http://bit.ly/115-PN1082.

HAPPY 2018!

Happy New Year!
As we begin a new year, we should look forward to better times for our hobby, our nation, and our world. I wish you and yours a Happy and Healthy 2018 and hope that you find the key coin of your dreams!
Images courtesy of the U.S. Mint.

October 2017 Numismatic Legislation Review

It seems that when I write these posts about the monthly numismatic-related legislation reviews, I note how frustrating it is to follow the workings of Congress. Even though I work as a part-time political analyst and have some contacts I can leverage, even the insiders cannot explain why things happen.

Let’s look at recent legislation. Even though the House passed both the The American Legion 100th Anniversary Commemorative Coin Act (H.R. 2519) and the Naismith Memorial Basketball Hall of Fame Commemorative Coin Act (H.R. 1235) on the same day and sent both the Senate at the same time, the Senate only passed one of the bills while the other is languishing in committee.

Commemorative coin bills are not a big priority for Congress. Most of the time, they are treated as favors for one member or another, along the lines of “you help me with mine and I will help you with yours.” These are not big issues but are used to win points with constituents back home.

Although nobody is sure of the reasons why the Naismith Memorial Basketball Hall of Fame Commemorative Coin Act is being stalled in committee, it may be because of politics and personality conflicts. Usually, when one of these bills are introduced, a version will be submitted to the House and Senate hoping one will pass. The Senate version, S. 1503 was introduced by Sen. Elizabeth Warren (D-MA). Sen. Warren is not a favorite amongst her colleagues on the other side of the aisle. My sources speculate that the Senate’s leadership could be using this as a future bargaining chip against some of her principled stances.

It does not matter what you think about Sen. Warren or her politics. This is the way Congress works. If you think that the Basketball Hall of Fame should have a commemorative coin to celebrate its 60th anniversary in 2020, then let your senators know that you support H.R. 1235 that has already passed the House.

H.R. 965: Saint-Gaudens National Historical Park Redesignation Act
Sponsor: Rep. Ann M. Kuster (D-NH)
Introduced: February 7, 2017
Summary: This bill redesignates the Saint-Gaudens National Historic Site, in New Hampshire, as the “Saint-Gaudens National Historical Park.”
Referred to the Subcommittee on Federal Lands. — Feb 23, 2017
Ordered to be Reported (Amended) by Unanimous Consent. — Jul 26, 2017
Placed on the Union Calendar, Calendar No. 197. — Aug 25, 2017
Motion to reconsider laid on the table Agreed to without objection. — Oct 2, 2017
Received in the Senate and Read twice and referred to the Committee on Energy and Natural Resources. — Oct 3, 2017
This bill can be tracked at http://bit.ly/115-HR956.

H.R. 2519: The American Legion 100th Anniversary Commemorative Coin Act
Sponsor: Rep. Timothy J. Walz (D-MN)
Introduced: May 18, 2017
Summary: This bill requires the Department of the Treasury to mint and issue commemorative coins in recognition and celebration of the 100th anniversary of the American Legion.Surcharges received from the sale of these coins shall be paid to the American Legion for costs related to promoting the importance of: (1) caring for those who have served, and those who are still serving, in the Armed Forces; and (2) maintaining patriotic values, strong families, and assistance for at-risk children.
Referred to the House Committee on Financial Services. — May 18, 2017
Motion to reconsider laid on the table Agreed to without objection. — Sep 25, 2017
Received in the Senate. — Sep 26, 2017
Message on Senate action sent to the House. — Sep 29, 2017
Presented to President. — Sep 29, 2017
Became Public Law No: 115-65. — Oct 6, 2017
This new law can be viewed at http://bit.ly/115-HR2519.

H.R. 4044: 75th Anniversary of the End of World War II Commemorative Coin Act
Sponsor: Rep. Steve Scalise (R-LA)
Introduced: October 12, 2017
Referred to the House Committee on Financial Services. — Oct 12, 2017
This bill can be tracked at http://bit.ly/115-HR4044.
PN1082: David J. Ryder — Department of the Treasury
Date Received from President: October 5, 2017
Summary: David J. Ryder, of New Jersey, to be Director of the Mint for a term of five years, vice Edmund C. Moy, resigned.
Received in the Senate and referred to the Committee on Banking, Housing, and Urban Affairs. — Oct 5, 2017
Committee on Banking, Housing, and Urban Affairs. Hearings held. — Oct 24, 2017
This nomination can be tracked at http://bit.ly/115-PN1082.

Breast Cancer coin design announced on NYC television show

Design of the 2018 Breast Cancer Awareness Commemorative Gold Coin was announced today on Fox 5 New York featuring interviews with New York Rep. Carolyn Maloney (D), the sponsor of the authorizing legislation (Public Law 114-148) and Myra Biblowit, President of the Breast Cancer Research Foundation, the organization that will receive whatever is collected from the surcharges.

No additional details were provided including the name of the winning designer or whether the silver dollar and clad half-dollar will have the same design.

Here is the video segment from “Good Day New York:”

Still frame of the reverse design also from “Good Day New York:

Still frame of Breast Cancer Awareness commemorative coin reverse from Fox 5 NY

Summary of the Breast Cancer Awareness Commemorative Coin Program

  • Commemorative coins issued in 2018
  • Design, emblematic of the fight against breast cancer, selected from a juried competition with no less than $5,000 going to winning design
  • “The Secretary shall encourage three-dimensional designs to be submitted as part of the proposals”
  • 50,000 $5 “pink gold” coins with an alloy of at least 75-percent gold with a $35 surcharge
  • 400,000 one-ounce silver dollars made with not less than 90-percent silver with a $10 surcharge
  • 750,000 clad half-dollar coins with a $5 surcharge
  • Surcharges will be distributed to the Breast Cancer Research Foundation of New York, to further breast cancer research funded by the Foundation.

Pink gold can be more commonly described as “rose gold.” Rose gold is an alloy of 75-percent gold with 20-percent copper and 5-percent silver. The color can be adjusted by changing the ratio of copper and silver.

All media courtesy of WNYW — Fox 5 NY.

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