Weekly World Numismatic News for April 17, 2022
Welcome to National Coin Week 2022!
For the next week, the theme of National Coin Week is Dynamic Designs, Artistic Masterpieces celebrating the designs on coins. I cannot think of any numismatic topic that will lead to a more heated discussion than coin designs. Whether it is about the design selected for a quarter, commemorative coin, or classic versus modern designs, coin designs can be a polarizing topic. Even the topic of colorization has caused some to have a visceral reaction.
This week, I will be celebrating coin designs. During the week, I will celebrate coin designs from my collection, and they will be designs that I find appealing and the reason why I like them.
Today I start with the newest design that has piqued the interest of collectors and potential new collectors, the Maya Angelou Quarter. Angelou appears on the first issue of the American Woman Quarters program, a four-year program celebrating the contributions and accomplishments of women in United States History.
Maya Angelou’s appearance on the quarter also marks the first time an African-American woman has appeared on a U.S. coin. Her first famous book, “I Know Why the Caged Bird Sings,” inspired the design. It is the first time the general public has talked about a U.S. coin since the beginning of the 50 State Quarters program.
The obverse features a portrait of George Washington designed by Laura Gardin Fraser in 1932. When the U.S. Mint moved to change the quarter’s design to honor the bicentennial of George Washington’s birthday. A competition was held for the design. Fraser’s design was selected by the Commission of Fine Arts (CFA) as the best representation of Washington for the coin. Unfortunately, Treasury Secretary Andrew Mellon, a known misogynist, rejected Fraser’s design and selected the art of John Flannigan instead.
The 1999 George Washington $5 gold commemorative coin featured Laura Gardin Fraser’s design. The American Women on Quarters program will feature her design. To sum up the impact of the design, the following is from the 1932 letter from the CFA to Secretary Mellon:
And now the news…
April 11, 2022
→ Read more at news.abplive.com
April 13, 2022 → Read more at the-sun.com
December 2020 Numismatic Legislation Review
The U.S. Mint is unique because it is the only mint in the world to be controlled by a legal process that requires the government to coordinate its policy. While other mints have requirements to clear specific actions with their parliament or legislative bodies, the U.S. Mint cannot do anything without an act of congress, including changing coin designs.
Congress’s micromanagement of the U.S. Mint is their interpretation of Article I Section 8 of the United States Constitution that says, “The Congress shall have Power… To coin Money, regulate the Value thereof, and of foreign Coin.” It does not say that congress must micromanage the U.S. Mint, nor does it say that congress has to be involved in the design.
Although commemorative coin programs require legislation, over the last 20 years, congress considers these bills as time-fillers when other business does not require their attention. Most of the commemorative coin bills rarely receive a hearing in their committees and usually pass by unanimous consent. These bills are handled to show the general public congress is doing something while brushing it off like dandruff on their shoulders.
With congress putting off difficult negotiations until after elections, the lame-duck session becomes the dumping ground for hard negotiations, usually about spending money and fluff. While congressional leaders negotiated the hard stuff, congress meets and passes bills that have little meaning to the general public. Most numismatic bills have little meaning for the general public. However, passing these bills gives them something to talk about.
Let’s look at the five bills that congress acted on in December:
- H.R. 1830: National Purple Heart Hall of Honor Commemorative Coin Act
Sponsor: Rep. Sean P. Maloney (D-NY)
LAST ACTION: Signed by the President and became Public Law No: 116-247. — Dec 22, 2020
Initially introduced in the House in March 2019, the bill creates a 2022 commemorative coin program to support the National Purple Heart Hall of Honor in New Windsor, New York. The bill was heard during the cleanup, and the lame-duck session finally passing on December 2. president signed the bill on December 22, 2020.
- H.R. 1923: Circulating Collectible Coin Redesign Act of 2020
Sponsor: Rep. Barbara Lee (D-CA)
Passed the House of Representatives — Sep 22, 2020
Passed the Senate with amendments — Dec 17, 2020
LAST ACTION: Message on Senate action sent to the House. — Dec 18, 2020
Initially, this bill was called the Women’s History and Nineteenth Amendment Centennial Quarter Dollar Coin Program Act. Somewhere along the line, congress changed the title. This bill will create a new quarters series to honor women from each state involved with suffrage and the Nineteenth Amendment. The bill was passed by the lame-duck Senate and awaits the president’s signature.
Even though this bill passed the House and Senate, the Senate amended the bill. The House has to agree with the changes, or the bill must go to a Conference Committee to work out the differences. Since the House has not acted on the amendment, the bill is likely to die when congress adjourns sine die on January 3, 2021.
Adjourning sine die, or without a date, is the final adjournment of congress. It will be the formal close of the 116th congress. The 117th congress gaveled in for their first day of business today, on January 3, 2021, as required by the U.S. Constitution.
- H.R. 4104: Negro Leagues Baseball Centennial Commemorative Coin Act
Sponsor: Rep. Emanuel Cleaver (D-MO)
LAST ACTION: Signed by the President and became Public Law No: 116-209. — Dec 4, 2020
This law authorizes a 2022 commemorative coin program to honor the centennial establishment of the Negro Leagues. The surcharges from the coin sales will benefit the Negro Leagues Baseball Museum in Kansas City.
- H.R. 6192: 1921 Silver Dollar Coin Anniversary Act
Sponsor: Rep. Andy Barr (R-KY)
Passed the House of Representatives — Sep 22, 2020
Passed the Senate with amendments — Dec 17, 2020
LAST ACTION: Presented to President. — Dec 24, 2020
The bill that has been all over the numismatic media will allow the U.S. Mint to strike 2021 Morgan and Peace dollars. Congress sent the bill to the president on December 24, 2020. It is waiting for his signature. Constitutionally, he has ten days to act on the bill. Since these are calendar days, January 2, 2021, is the tenth day.
If congress was in session on January 2, the bill becomes law without the president’s signature. If congress adjourned sine die, then the bill is the victim of a pocket veto. There is an indication that congress is still in session discussing updates to the recent COVID-19 stimulus package.
- H.R. 7995: Coin Metal Modification Authorization and Cost Savings Act of 2020
Sponsor: Rep. Mark E. Amodei (R-NV)
Passed the House of Representatives with amendments — Dec 2, 2020
LAST ACTION: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Dec 3, 2020
The House rushed to pass this bill because it allows them to look like they did something. The Senate did not consider this bill and will allow it to die when congress adjourns. It is a bad bill and should die with the end of this congress.
When the 116th Congress adjourns for the final time, any legislation not passed will be considered dead. The slate is wiped clean, and the 117th Congress starts anew. It could be something to look forward to in 2021!
HAPPY NEW YEAR 2021!
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- 2021 Christa McAuliffe Silver Dollar (U.S. Mint line art)
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- 2021 National Law Enforcement Memorial and Museum Commemorative $5 Gold Coin (U.S. Mint line art)
Rather than the news, a quick reminiscence
A portion of my father’s U.S. collection
This week, I am not producing a weekly news update. Instead, I want to talk about the last few weeks and recent events. I am not making this post from home. I am in Charlotte, where my father used to live. I said “used to” because he died in November after being infected with COVID-19. I have not said much publicly because I am not ready. In a few weeks, I will have a tribute to the man responsible for my addiction to coin collecting.
Shortly before being intubated, he told my brother that there were coins “all over the house.” He was not kidding. We found the equivalent of four large bins of coins during the last few days, including an old flight bag that we found in the bottom of his closet yesterday.
My father was born before World War II and collected coins from pocket change. There are albums of Walking Liberty and Franklin Half-Dollars, half-dollars in 2x2s, and many other coins. There are mint sets, proof sets, silver proof sets, prestige sets, and American Eagles. The few American Gold Eagles we gave to his grandchildren at his request.
My father’s half dollar collection
It also appears that he bought every commemorative coin produced by the U.S. Mint since 1982. Most of his collection consists of sets when they were available, including a few gold coins.
Sifting through the coins, I found a Mint roll for American Silver Eagles. There are five 1986 American Silver Eagle coins in the roll. It would not surprise me to learn that he used the coins as gifts.
That was just the United States coins. Another bin is overflowing with Israeli coins. My father was a big supporter of Israel. As part of his support, it appears he was a purchaser of everything produced by the Israel Government Coins and Medals Corporation. IGCMC was the manufacturer of Israeli coins before the government sold the company to a private business. Now they contract their coin manufacturing, and the old company, now renamed the Israel Mint, is a preferred dealer and distributor for the Bank of Israel.
A bin of Israeli coins that we have not searched at the time I write this.
He might have purchased everything produced by the IGCMC since 1971. A few years ago, they began to produce gold bullion coins. He purchased one, decided that he did not like the premium on top of the spot price, then gave the coin to me.
As I try to create an order to produce a catalog for the estate, it reminds me of the calls we used to have talking about the products from the U.S. Mint. As opposed to other collectors of his age, he liked the modern Mint products. He was not concerned about resale value or that the U.S. Mint produced something other than classic coins. My father complained about the updated ordering requirements. When I found the Mercury Dime and Standing Liberty Quarter Centennial Gold Coins, I remember that he complained about not ordering the Walking Liberty Half Dollar Centennial Gold Coin because of the U.S. Mint ordering system.
My father had almost every mint and proof set dating back to 1970.
My father found beauty in all of the coins, even the ones that the industry said were “ugly.” They were coins, and he liked the coins. He loved the Israeli coins and their symbolism with Jewish heritage. It is his heritage, as the first generation born in the United States of immigrant parents. His father was so happy to come to the United States that he volunteered to go back to Europe four years after arriving at Ellis Island to fight in The Great War. My grandfather earned the Purple Heart fighting in France as part of the 82nd Infantry, today known as the 82nd Airborne Division.
Grandpa was also a coin collector of sorts. He was a change hunter and liked to fill albums with pennies. I still have the Library of Coins Indian Head Cent album that was part of his estate when he died in 1969.
As I type this, I picked up a small stack of Morgan Dollars to find that he has a circulated 1890-CC dollar. A cool find, indeed.
A few of the loose coins found in the collection
After we complete cataloging my father’s collection, we will sell them at auction. My company will conduct the auction online. Of course, I will post a note here when the auction is ready. Stay tuned.
So my father went a little crazy with the Bicentennial coins.
Countdown to the Final Sales of 2020
Colorized Basketball Hall of Fame Half Dollar Clad Coin (Image courtesy of the U.S. Mint)
Collectors of commemorative coins have until December 31 to purchase Women’s Suffrage Centennial Silver Dollars. They are available in proof and uncirculated finishes. Similarly, the Basketball Hall of Fame coins will also end next week. This program features a curved $5 gold coin, silver dollar, and clad half-dollar. It also means that the first colorized coins will also end.
Although I am not a collector of commemorative coins, I am a sports fan and enticed by the curved basketball coins. I ordered the Silver Dollar and the colorized clad half-dollar. I think the full-color half-dollar is better looking than just the colorized rim.
Following the 2018 American Innovation $1 Coin, the U.S. Mint began producing the coins as a reverse proof. The reverse proofs are enclosed in an individual folder with information about the coins and the innovation it honors. So that I can catch-up, I ordered the entire 2019 set. They have not released the South Carolina reverse proof coin honoring Septima Clark. When they do, I will order the complete 2020 set.
If you did not get what you wanted for the holidays or received gift cards, why not add something cool to your collection before the price doubles on the secondary market.
Lame-Duck Still Doing Business
As expected, the lame-duck Congress is well on its way to passing numismatic-related legislation on its way out the door. While the four leaders and their representatives negotiate other business, the rest of the members kept themselves busy doing the usual end-of-session clean up work. Here is a quick update on December’s actions:
- H.R. 4104: Negro Leagues Baseball Centennial Commemorative Coin Act
LAST ACTION: Signed by President. Became Public Law No: 116-209. — Dec 4, 2020 - H.R. 1830: National Purple Heart Hall of Honor Commemorative Coin Act
LAST ACTION: Presented to President. — Dec 11, 2020 (Not signed, yet) - H.R. 1923: Circulating Collectible Coin Redesign Act of 2020
(Women’s History and Nineteenth Amendment Centennial Quarter Dollar Coin Program Act)
PASSED THE HOUSE OF REPRESENTATIVES — Sep 22, 2020
PASSED THE SENATE with an amendment — Dec 17, 2020
LAST ACTION: Message on Senate action sent to the House. — Dec 18, 2020 - H.R. 6192: 1921 Silver Dollar Coin Anniversary Act
PASSED THE HOUSE OF REPRESENTATIVES — Sep 22, 2020
PASSED THE SENATE with an amendment — Dec 17, 2020
LAST ACTION: Message on Senate action sent to the House. — Dec 18, 2020 - H.R. 7995: Coin Metal Modification Authorization and Cost Savings Act of 2020
PASSED THE HOUSE OF REPRESENTATIVES — Dec 2, 2020
LAST ACTION: Received in the Senate and assigned to committee — Dec 3, 2020
H.R. 1923 was passed in the Senate with an amendment that prevents the U.S. Mint from selling the coins at a loss. H.R. 6192 saw the Senate replace almost all of the wording rather than making small tweaks in order to fix what amounts to clerical errors. Even though both amendments are technical changes and do not effect their purpose, the bill has to be returned to the House of Representatives for approval. If the House agrees with the Senate’s changes, then they will pass the bills and send them to the President for his signature. If not, the law requires that the changes be negotiated by a Conference Committee consisting of members from both chambers.
It is unlikely that a Conference Committee is necessary for these bills. Either the House will pass them by unanimous consent or they will die at the end of the session. The thought of another circulating quarters program is not exciting (H.R. 1923) but there are many numismatists who would like a 2021 Morgan and Peace Dollars.
As an interesting idea, if H.R. 6192 passes and the U.S. Mint strikes 2021 Morgan dollars, instead of a privy mark to celebrate the Carson City Mint, how about a counterstrike? Have a “CC” counterstruck on the eagle’s chest similar to the “EB” counterstrike on the Brasher Doubloon? That would be something different.
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