Happy Birthday Teddy!

Although Theodore Roosevelt was born of wealth, he was a man of the people. Rather than becoming someone of society, Roosevelt sought to change society. From his days as an asthmatic child using hunting and other physical activities to overcome his weaknesses, his education at Harvard, conquering the Badlands of South Dakota, to a political career that changed nearly every level of government, Roosevelt was the renaissance of American history.

Before Roosevelt was 42, he was a deputy sheriff in the Dakota Territory, Police Commissioner of New York City, U.S. Civil Service Commissioner, Assistant Secretary of the Navy, and Colonel of the Rough Riders for which he was awarded the Medal of Honor. Roosevelt was elected to the New York State Assembly, Governor of New York, and Vice President of the United State. In fact, his nomination as vice president to run with William McKinley by the Republican Party was to get him out of New York because he was reforming the status quo out of existence.

On September 14, 1901, at 42 years and 322 days of age, Roosevelt became the youngest President when McKinley was assassinated (Kennedy is the youngest elected president when he was inaugurated at 43 years, 236 days). As president he was a trust buster, conservationist, and his slogan of “Speak softly and carry a big stick” set the tone for military and foreign policy that even impacts today’s policies. Roosevelt was the first U.S. citizen and sitting to win the Nobel Peace Price for negotiating the 1905 peace treaty ending the Russo-Japanese War.

Roosevelt initiated the “Golden Age of American Coin Design.” Using his bully pulpit, he held the designs of the U.S. Mint Chief Engraver Charles E. Barber in contempt and ordered coinage whose designs were more than 25 years old to be redesigned. Roosevelt was a fan of sculptor Augustus Saint-Gaudens and asked him to help redesign American coinage.

After Saint-Gaudens died of cancer, Roosevelt continued to look to revitalize U.S. coinage. He seized upon Abraham Lincoln’s 100th birthday to redesign the small cent. He was steered to Victor David Brenner, whose bust of Lincoln was used as the model for the new Lincoln Cent first issued in 1909. Not only was Lincoln the first president to appear on a circulating coin, but Brenner’s obverse is still in use today.

Roosevelt called his coinage redesign his “pet crime”

For all his accomplishments, it is difficult to understand why our 26th President has not been honored on a coin.

Theodore Roosevelt was born on October 27, 1858, 152 years ago today. Happy Birthday, Mr. President! We numismatist thank you for your “pet crime!”

Roosevelt Inaugural Medal design by Augustus Saint-Gaudens courtesy of the Museum of American History.

CFA Meets October 21

If you are going to be in Washington, DC on October 21, you can attend the U.S. Commission of Fine Arts meeting. The meeting starts at 9:00 A.M. in Suite 312 of the National Building Museum: 401 F Street, NW, Washington, DC 20001-2728. The CFA is the third leg of the coin design system that includes the U.S. Mint’s engravers and the Citizens Coinage Advisory Committee.

On the is their review for the final designs for:

  • New Frontier Congressional Gold Medal to honor: Neil A. Armstrong, Edwin E. Aldrin, Jr., Michael Collins, and John H. Glenn, Jr. The design will be for the gold medal that will be presented and the bronze duplicates that will be sold by the U.S. Mint.
  • Design for the Congressional Gold Medal to be presented to Arnold Palmer and the bronze duplicates.
  • Reverse designs of the 2012 America’s Beautiful National Parks Quarter Dollar Program. In 2012, the program will honor Puerto Rico, New Mexico, Maine, Hawaii, and Alaska.

The CFA was formed in 1910 to advise the government on the architectural development in Washington. While most of its work is on architectural development, the CFA is also involved in the designs of statues and memorials around Washington—except for the Capitol building and Library of Congress which is controlled by the Arcitect of the Capitol. Their review of coin designs are the only matters not related to the architectural development.

BREAKING NEWS: CCAC Forms Subcommittee On Coin Design

According to the tweets of Citizens Coinage Advisory Committee member Donald Scarinci (@Scarinci), CCAC Chair Gary Marks announced the establishment of a subcommittee to help U.S. Mint Director Ed Moy to initiate his vision for a neo-renaissance of U.S. coins. Members of the subcommittee will be made up Mitch Sanders, Donald Scarinci, Roger Burdette, Heidi Wastweet, and Gary Marks. Their report due by October 31, 2010.

During a presentation at the FIDEM conference on September 19, 2007, held in Colorado Springs, Moy said, “I want and intend to spark a Neo-Renaissance of coin design and achieve a new level of design excellence that will be sustained long after my term expires.”

Recently, Moy and the U.S. Mint came under attack from both the CCAC and the Committee of Fine Arts for the “overall disappointment with the poor quality” of the alternatives presented for the 2011 commemoratives,” as written in a letter to Moy from the CFA sent on May 28, 2010.

During the 2010 FIDEM conference, there were reports that the design of U.S. coins were not up to the standard set by Moy during his 2007 talk. None of the attendees to the conference in Finland would comment for the record, but the off the record comments were less then complementary about U.S. coin and medal designs.

Scarinci reported that “Support for the creation and mission of the historic first subcommittee of the CCAC is unanimous.” The CCAC included the May 28 letter from the CFA as part of their record.

When Theodore Roosevelt became president in 1901, he initiated the “Golden Age of American Coin Design.” Using his bully pulpit, he held the designs of the U.S. Mint’s Chief Engraver Charles E. Barber in contempt and ordered coinage whose designs were more than 25 years old to be redesigned. Roosevelt was a fan of sculptor Augustus Saint-Gaudens and asked Saint-Gaudens to redesign the small cent. Rather than use the Liberty design in an Indian Headdress for the small cent, it was used on the 1907 $10 gold coin. Roosevelt also asked Saint-Gaudens to design the $20 gold double eagle coin to rival the beauty of all classic coins.

Roosevelt called this his “pet crime.”

With the decent of the political bureaucracy it would be impossible for a modern president to follow the example of Roosevelt. For those of us who lament the poor quality of the designs emanating from the U.S. Mint, we should support this new subcommittee and hope the figure out how to “fix” the processes and artistry of coin designs.

CCAC Meets This Week in Colorado

Members of the Citizens Coinage Advisory Committee are in Colorado this week for their monthly meeting to be held on June 28, 2010 at Colorado College. The meeting corresponds with the first week of the American Numismatic Association’s Summer Seminar.

CCAC members met in Denver this morning for a closed-door administrative meeting at the U.S. Mint’s Denver facility. According to the tweets from CCAC member Don Scarinci (@scarinci), the meeting included U.S. Mint Chief Engraver John Mercanti, the Mint’s chief marketing director, and the chief counsel.

After the meeting, Scarinci tweeted, “Based on morning conversations, tonight’s CCAC meeting will be quite lively. It is time for CCAC to demand change.” It will be interesting to watch his tweets during the meeting.

Tweeting the May CCAC Meeting

Yesterday, the Citizens Coinage Advisory Committee met at the US Mint Headquarters in Washington DC. During the meeting, CCAC member Donald Scarinci set up his laptop and tweeted from the meeting.

Based on Scarinci’s tweets, it was not a comfortable meeting. While reading the tweets, it seemed that there were some contention between the U.S. Mint and the members who blindly support whatever the Mint wants. Scarinci has indicated to me and in his commentary that appeared in Coin World that he was interested in performing the job intended by the law authorizing the CCAC.

Following the meeting, comments from other members indicated that Scarinci’s statements that appeared in Coin World editorial was the catalyst for the contentious feelings experienced at the meeting. One member indicated that there were more tactful ways to make comments about other members.

It is not apparent from the Coin World editorial what was objectionable in what Scarinci did or said. However, past experiences with CCAC Chairman Gary Marks may indicate that he takes commentary personally rather use it as a constructive lesson. If Marks and the U.S. Mint can realize that those who criticize are not against them but care enough to want to make things better there would be less of a strained relationship between the CCAC members and the public.

UPDATE: I am not condemning or condoning Scarinci’s comments. I am saying that on the surface it does not appear that what he said rises to the level of scorn that is being raised. Regardless of how you feel about his situation, I encourage Scarinci to continue to work in a manner that he feels is in the best interest of the CCAC, even if it means trampling on a few egos.

If you missed the meeting, the following are the compilation of the tweets from @Scarinci:

 

Scarinci On my way to DC for meetings later & CCAC meeting tomarow. Big agenda tomarow. Took a long time preparing.

Monday, May 24, 2010 2:09 PM
Scarinci Marine 1 just flew over me near the Potomac River in DC. I wonder if the President was on Board. You don’t see that in NJ.:)

Monday, May 24, 2010 4:20 PM
Scarinci Just read “Coin World” article with CFA’s comments on the commem designs CCAC reviews tomorrow. I’m not alone thinking they are unworthy.

Monday, May 24, 2010 6:54 PM
Scarinci If the Mint gave us good designs with only minor variations to pretend CFA & CCAC has imput, maybe I’d be OK being their rubber stamp. 🙂

Monday, May 24, 2010 7:04 PM
Scarinci Only 3 or 4 designs of each coin today–the Mint just engaging CCAC because they have to. Designs limited & most are variations of the same.

Tuesday, May 25, 2010 6:39 AM
Scarinci Arrived at mint. Franklin Pierce dollars for sale in lobby. Arkansas quarters too.

Tuesday, May 25, 2010 7:41 AM
Scarinci Administrative meeting just begun. It is of course not open to the public.

Tuesday, May 25, 2010 8:08 AM
Scarinci Admin meeting adjourned–Why does the Mint like to do things in secret? Very little discussed that couldn’t have been public.

Tuesday, May 25, 2010 9:01 AM
Scarinci Public just entered the room. Seems like a lot of people here for this meeting today.

Tuesday, May 25, 2010 9:05 AM
Scarinci Set up my laptop for twitter today. It is a lot easier on my thumbs.

Tuesday, May 25, 2010 9:07 AM
Scarinci Michael Ross, History Prof at U.Maryland being introduced (Historian seat on CCAC). teaches U.S.History and focuses on 19th Century.

Tuesday, May 25, 2010 9:11 AM
Scarinci Starting discussion of designs of 2011 Army Commem Coin Program. Kaarina Budow reading narratives that were given to the artists.

Tuesday, May 25, 2010 9:15 AM
Scarinci The gold reverse designs are three variations of the same thing. Guess that’s what the Mint wants. There is no choice.

Tuesday, May 25, 2010 9:17 AM
Scarinci Obverse 2 & 3 show central soldier figure wearing the current uniform. We are told it is not specific to any current military action.

Tuesday, May 25, 2010 9:22 AM
Scarinci Had a motion to narrow the discussion even though only 4 obverse designs being considered. No women depicted on any of them.

Tuesday, May 25, 2010 9:26 AM
Scarinci The three reverse designs of the gold coin are all the same with only minor variations. Even more absurd to narrow the discussion on these.

Tuesday, May 25, 2010 9:30 AM
Scarinci The gold is supposed to show revolutionary period to today. Ony 1 or 4 does that for me. But I don’t get the motto on 4.

Tuesday, May 25, 2010 9:41 AM
Scarinci Some support for design 3 because it is focused and fits well on the small surface of the gold $5.

Tuesday, May 25, 2010 9:47 AM
Scarinci Some members wanting to change wording on reverse & minor features of some obverses. Mint seldom listens to that. We get what we get.

Tuesday, May 25, 2010 9:56 AM
Scarinci Device on helmut on design 3 is for night vision and becomes the focus of the image. Some want to see eyes and people facing front .

Tuesday, May 25, 2010 10:03 AM
Scarinci Voting for the gold concluded. I made the point that we are just rubber stamping what the mint wants on the reverses–all the same.

Tuesday, May 25, 2010 10:11 AM
Scarinci Kaarina reviewing narratives for the silver dollar size 2011 US Army Commemorative Coin Program.

Tuesday, May 25, 2010 10:22 AM
Scarinci Some on CCAC are picking up on the fact that the faces depected on these designs look very much the same–diversity is lacking.

Tuesday, May 25, 2010 10:31 AM
Scarinci You gotta love Roger Burdette. He just articulated my thoughts on the wording and the banality of what we are looking at today.

Tuesday, May 25, 2010 10:36 AM
Scarinci No neo-renaissance except in Ed Moy’s speeches. At peace with that, obv.1 & rev.4 is just a nice coin. Lack of diversity & woman troubling

Tuesday, May 25, 2010 10:58 AM
Scarinci Moved on to talking about the clad half dollar of the three piece 2011 US Army Commemorative set.

Tuesday, May 25, 2010 11:04 AM
Scarinci I spoke in favor of obv.1 or 2 paired with rev. 2 as a nice coin & made the comparrison to the rev. on the 1976 quarter. Same artist?

Tuesday, May 25, 2010 11:06 AM
Scarinci Good comment just made that the clad half obv. designs are very 1950’s “Atoms for Peace” remakes. There is little inspiration here.

Tuesday, May 25, 2010 11:15 AM
Scarinci Member just suggested that the good designs have been edited out of the group the Mint chose to send to CCAC. YES!

Tuesday, May 25, 2010 11:20 AM
Scarinci I just made a motion to reject all designs for the obv. & rev. of the clad half dollar. Roger Burdette seconded it. Motion failed.

Tuesday, May 25, 2010 11:26 AM
Scarinci Rick just made a motion to reject all obverse designs of the clad half dollar. Mike Olson seconded it, withdrew his second so I seconded it.

Tuesday, May 25, 2010 11:31 AM
Scarinci Good, spirited discussion. The motion passed with a 5-4 vote to reject all designs for the obverse of the clad half dollar.

Tuesday, May 25, 2010 11:44 AM
Scarinci Discussion about adjourning and considering the 2011 Medal of Honor coins at our meeting in Colorado Springs. Mint staff objected.

Tuesday, May 25, 2010 11:46 AM
Scarinci The CCAC did what the Mint wanted and is continuing the meeting. Lets just rush through it since there isn’t much to choose from anyway.

Tuesday, May 25, 2010 11:51 AM
Scarinci We are rushing through the agenda and looking at the Gold and silver commemorative designs together. Kaarina is even speaking faster.

Tuesday, May 25, 2010 11:56 AM
Scarinci One member just said they can’t even keep up with the pace of the meeting at this point. It is going in high speed.

Tuesday, May 25, 2010 11:59 AM
Scarinci We are at it now since 8 AM with not even a bathroom break. Thank goodness they brought some food and sodas out.

Tuesday, May 25, 2010 12:04 PM
Scarinci We are talking about two coins at once, obv.& rev.–I’m having trouble following the discussion. Thank goodness I spent a weekend preparing

Tuesday, May 25, 2010 12:08 PM
Scarinci We haven’t even tallied the votes from the Army Commemoratives. Worrying now about my train reservation.

Tuesday, May 25, 2010 12:10 PM
Scarinci Roger and Mike have prepared very moving remarks about the medal of honor commems–truly a highlight of today’s meeting.

Tuesday, May 25, 2010 12:16 PM
Scarinci I will not be rushed on my comments and I will not lend my name on a vote on such an important coin as the medal of honor coin.

Tuesday, May 25, 2010 12:25 PM
Scarinci We got through this in about 1/2 hour. We are now taking a break finally to count the votes.

Tuesday, May 25, 2010 12:28 PM
Scarinci The Mint staff just told us they are not rushing us. Unbelievable!

Tuesday, May 25, 2010 12:30 PM
Scarinci I did not vote on the medal of honor coins because I refuse to be rushed. We just ran through it to comply with law requiring CCAC review.

Tuesday, May 25, 2010 12:38 PM
Scarinci Mike making some motions asking the mint to change design aspects of what we voted for.

Tuesday, May 25, 2010 12:39 PM
Scarinci CCAC just voted to make the woman on the Army Dollar, SO-O1, African American to make up for the lack of diversity on the designs presented.

Tuesday, May 25, 2010 12:45 PM
Scarinci Meeting has been adjourned. I need to rush to make my train.

Tuesday, May 25, 2010 12:47 PM
Scarinci VOTES for 2011 US Army Commems: Gold $5obv:#3=20;#2=18; rev:#3=28;#2=6; Silver $1obv #1=25;#5=10; rev:#3=19;#4=8: Clad$.50rev:#2=19;#3=14

Tuesday, May 25, 2010 2:21 PM
Scarinci VOTES for 2011 Medal of Honor Commems: Gold$5obv.#2=19; Rev.:#2=13; #1=11; Silver $1 Obv.:#2=24; Rev:#2=24. Two members did not vote.

Tuesday, May 25, 2010 2:26 PM
Scarinci The private administrative meeting that followed was even worse than the public meeting if that is possible. Things are very bad (IMO).

Tuesday, May 25, 2010 2:28 PM

 

A CCAC Response

My last blog entry, CCAC Dropped the Ball… AGAIN! appeared on CoinNews.net and generated an interesting response from Gary Marks, a member of the Citizens Coinage Advisory Committee. Mr. Marks writes:

As a member of the CCAC, I read Scott Barman’s article, “America the Beautiful Quarters, CCAC dropped the ball again” with great interest.

According to Berman, [sic] his opinion about the CCAC’s actions concerning the call to put Theodore Roosevelt on the obverse of “America the Beautiful Quarters” stems soley from his reading of an article entitled, “Debate rages in coin world: Theodore Roosevelt or George Washington on new quarter?”, published on January 20th.

Although he might have read the January 20th article, I was left to ponder if he might have misread or inadvertantly skipped over a part of it. His conclusions seem to suggest that he might have missed the following key sentence from the January 20th article, “Unfortunately, the change attracted no support in Congress, which initiates all changes in U.S. coins, including denominations, size, weight, metallic content and subject.” The key phase here is “the change attracted no support”.

Berman [sic] writes, “I am sure that members of the CCAC will ask that if there is no support for the design then why propose it?” The statement seems to suggest that Berman [sic] is unaware that the committee actually proposed it. But once we proposed it, it fell flat. No support materialized. Yet, Berman [sic] interprets the lack of support this way: “the CCAC wilted at the chance to refresh the sameness of the one coin’s design”. Did the CCAC wilt? I think not. We were the committee that started this discussion in the first place by making a bold recommendation! Yet, when no support materialized, the committee was faced with the option of “tilting at windmills” by trying to breathe life into an idea that was clearly and unfortunately dead, or to move on and consider doing something else to refresh the quarter obverse – like making improvements to Washington’s image. The committee is currently considering the latter.

Contrary to Berman’s [sic] interpretation of this situation, the committee did exactly what it was suppose to do – it provided independent advice based on what we thought was best for American coin design. But that advice was not taken.

Is refreshing Washington’s image an option with the same excitement as placing Roosevelt on the Quarter? Clearly not. Is it an idea that might actually have a chance of happening? Yes. Will it be an improvement over the “spagetti” [sic] haired Washington that currently exists on the quarter? Yes. On that basis alone, it is worth pursuing.

In my response to Mr. Marks, I followed up with:

I read the article correctly, Mr. Marks. I read the statement you emphasized and drew my conclusion from the statement and the information in the article.

Mr. Marks then said, “The statement seems to suggest that Berman [sic] is unaware that the committee actually proposed it. But once we proposed it, it fell flat.” How would I know that that the CCAC proposed this? Where was the reporting? Better yet, with the various directives from the President on the executive branch toward open government, then why aren’t the CCAC’s documents available on the web? What is on the web is so sparse it is difficult to understand what happened at the meetings. Maybe, if the CCAC published their materials on the web the concerned public would be able to understand what is happening without relying on the word count limitations of a non-numismatic publication.

I have heard the comment about the new design being better than Washington’s “spagetti” [sic] hair used since 1999 from another CCAC member. I am glad to know that the CCAC has coordinated its talking points on this consolation prize. Of course Washington’s spaghetti hair would not be an issue if Teddy Roosevelt appeared on the quarter’s obverse.

For the record, I have “applied” to gain access to the artwork presented to the CCAC. Unfortunately, the US Mint, which manages this process, does not recognize bloggers in the same manner as journalists and my application was denied. Therefore, if the CCAC wants me to comment on the facts, provide them to me in a timely manner. Otherwise, you are a victim of your own bureaucracy which does not change my conclusion.

I invite the CCAC, including Chairman Mitch Sanders and representatives from the US Mint, to an open discussion on the issues of open government and how that could best provide their materials to the numismatic public for a better understanding of why filtered information garners responses they do not agree with.

CCAC Dropped the Ball… AGAIN!

While catching up on the weekend’s reading I came across an article Debate rages in coin world: Theodore Roosevelt or George Washington on new quarter? The article is about how the Citizens Coinage Advisory Committee debated whether to recommend that Teddy Roosevelt be placed on the obverse of the new America the Beautiful Quarters.

Introduced in 1932, the Washington Quarter was intended to be issued as a one-time circulating commemorative to honor the 200th anniversary of George Washington’s birth. The quarter was born of controversy when Secretary of the Treasury Andrew Mellon chose John Flanagan’s depictions over what had been determined to be a more artistic version by Laura Gardin Fraser. Although Mellon was a collector of great fine art that was later donated to the National Gallery of Art, many knew he was a sexist and refused to consider that a woman’s work was better than a man’s.

As the Great Depression deepened, no quarters were struck in 1933. Toward the end of the year, US Mint director Nellie Tayloe Ross was asked by the Federal Reserve to produce more quarters for circulation. Rather than use a new design, Ross ask the Treasury Secretary William Woodin for permission to continue to use Fraser’s design. Since Ross and Woodin did not want to undergo a new design competition, the Fraser designed continued until it was “updated” in 1999 for the 50 State Quarters Program.

Numismatist see Teddy Roosevelt as the father of the coinage renaissance when he tried to conspire with Augustus Saint-Gaudens to bring classic design to American coinage. Roosevelt call this his Pet Crime. Roosevelt was instrumental in the Mint using Saint-Gauden’s designs for the $10 gold eagle and his famous design on the $20 gold double eagle coin that continues to be celebrated today. Add the wonderful work by Bela Lyon Pratt on the gold quarter and half eagle coins along with Victor David Brenner’s Lincoln cent and the stage was set for a period of timeless classics.

Under his presidency, Roosevelt made conservation a national priority. He placed more land into the public trust than any other president and created the US Forest Serive to care for that land. Roosevelt elevated the importance of the National Park Service to be more than a caretaker of public land but make it accessible to everyone while protecting its beauty. His service to conservation has not been matched by any president since.

With his work on coinage and the lands that will be featured on the new series, it would be a natural recommendation to have Roosevelt adorn the obverse of these quarter. However, the article reports that the CCAC backed down because of the alleged lack of support by congress.

The CCAC is supposed to be an independent organization that is supposed to recommend what is best for the design of American coinage. It is supposed to be a non-partisan and non-political organization that apparently succumbed to the politics of the day. Rather than doing what is right, the CCAC wilted at the chance to refresh the sameness of the one coin’s design in the same way that Roosevelt bristled at the designs of Charles Barber in the early 20th century.

I am sure that members of the CCAC will ask that if there is no support for the design then why propose it? Because at some point, it is more important to do the right thing than taking the politically expedient path. It would put congress on record as being against a populist idea, albeit a small population of populists. It would show that the CCAC was an organization that understand the issues of coin design and not a rubber stamp body of sometimes bland coin designs.

The CCAC must re-evaluate their role as and advisory committee and advise. If this is not possible, then the CCAC only duplicates the role of the Commission of Fine Arts and should be disbanded.

Kicking off 2010

The start of the new year was met with a lot of work. While I should be happy to be busy, I would like some time to continue to write this blog. It is relaxing and I enjoy sharing my numismatic experience, thoughts, and other stories with my readers. I thank you for reading and hope to pick up the pace on my writing soon.

For now, here are a few short items that have been on my mind.

Starting the last week of the year, I have been seeing more of the 2009 Lincoln Bicentennial Cent in circulation, particularly the Formative Years or Log Splitter cents. During one shopping trip, a cashier opened a new roll of cents and included three new Log Splitter cents in my change.

I have also been seeing a few of the DC and Territories Quarters. Most of the quarters I have received in changed honor The Northern Mariana Islands. Its distinctive latte stone makes it very distinctive to notice at a glance. Interestingly, I have yet to receive a DC Quarter in change from stores in the DC area.

The US Mint has released the new Native American $1 Coin. This year’s theme is “Government–The Great Tree of Peace” featuring five bound arrows and the Hiawatha Belt. The design looks much better in hand than in the images I have seen, even those from the US Mint. It must be the gold color of the manganese, but the design seems to have a bold yet artistic feel that the US Mint should consider submitting for the next Coin of the Year competition.

Over the past few weeks I have read a few interesting numismatic books that I would like to report on. One of those books is Fascinating Facts, Mysteries & Myths About U.S. Coins by Robert R. Van Ryzin. I thought it was pretty good book but I have a caveat that I will report on in the near future.

It seems that numismatics is one of the last industries to fully embrace technology. There have been some advancements that I want to talk about. One of them are the electronic books by Krause Publications. Whether you download their information or purchase a CD or DVD of their books, the people at Krause have taken an interesting step into electronic publishing. Also, some have also embraced the iPhone as a platform for bringing numismatic information to the masses. I recently downloaded a numismatic-related iPhone application that I will write about after I crash it a few times!

As an aside, I am going to use my new 27-inch iMac to write a few iPhone applications of my own. Stanford University has a course teaching how to program the iPhone. The course is available through the iTunes store and sample code from the course’s website. I hope to use what I learn to create my own apps. I also hope that other readers who have a technical background and access to an Intel-based Mac to follow along with the course and create other apps for numismatists.

I hope everyone had a good holiday season. Now let’s get to collecting!

Introduction of the Final Lincoln Cents

With “Real Life” delaying the completion of my proposal to Reform US Currency, I wanted to take a brief moment to talk about the November 12th launch of the last of the 2009 Lincoln Bicentennial One Cent coins honoring Abraham Lincoln’s presidency.

The reverse design is an image of the US Capitol as it appeared on March 3, 1861 when Lincoln was inaugurated for the first time. With the Civil War imminent, Lincoln was asked whether the government should stop the construction so that the money would be used for the war effort. Lincoln was ever mindful of trying to keep the promise of the union said that the dome’s completion would enforce that view—making it an appropriate design for the last of this series. The reverse was designed by Susan Gamble and sculpted Joseph Menna.

In addition to the launch of the final 2009 reverse design, the design for the 2010 Lincoln Cent was introduced. The reverse of next year’s coin features a Union shield. In the context of symbolism, the union shield is an emblem symbolizing a national union fitting of the theme calling for the reverse to be “emblematic of President Lincoln’s preservation of the United States of America as a single and united country” as required by Public Law 109-145. Although this is not the first time a union shield has been depicted on US coinage, this is an interesting choice that I will discuss in the future. However, given the history of the Lincoln Cent, this will be the design for the next 50 years!

If you missed the launch, you can see some of the ceremony, the crowd, the designs, and part of the exchange in the following B-Roll video from the US Mint:

Coin images courtesy of the US Mint
B-Roll video from NewsInfusion

Reforming America’s Currency: Part 3-Circulating Coins

Now that the US Mint has been reorganized, it is time to strengthen the product line. The US Mint’s primary product are the circulating coins that are sold to the Federal Reserve. At this moment, there should be no changes to the required denominations and composition. Although there have been recent issues with the rise in the costs of zinc and nickel that affected the seignorage of the one and five cent coins, the US Mint produces enough coins in other denominations to mitigate those losses. Business calls selling a product at or below it manufacture price is called a loss leader. As long as the US Mint is meeting its obligations to the Federal Reserve, it is not a problem for the US Mint to downgrade the cent and nickel to loss leader status.

Numismatists are most vocal over the design of the coinage and the number of rotating series that drives up the costs to collectors. In order to add sanity to the process, there must be some rules. Thus, under this reorganization, no coin design is to last more than 25 years. The coin design can refer either to the obverse, reverse, or both, but something must be changed. This means the end of the 50 year design pattern given to the Lincoln Cent. Once the new design is settled in 2010, it must be changed by 2035. At that point, the CCAC and the US Mint will decide to redesign the entire coin or, once again, replace the reverse only.

Under this rule, the dime and half-dollar are due for design updates.

This proposal does not change the elements that are required on the coin. As described in 31 U.S.C. §5112(d)(1), “United States coins shall have the inscription ‘In God We Trust’. The obverse side of each coin shall have the inscription ‘Liberty’. The reverse side of each coin shall have the inscriptions ‘United States of America’ and ‘E Pluribus Unum’ and a designation of the value of the coin.” All other rules about design in that paragraph would be eliminated under this plan.

If the US Mint creates circulating commemoratives, there should be no more than two programs in place. One program can be a multi-coin commemorative, like the Presidential $1 Coins, and the other an annual series, such as the Native American $1 Coins. Any more than that becomes too much where the US Mint apparently cannot maintain the levels of manufacturing necessary to satisfy demands for their products. Once the circulating commemorative series is completed, the coin will undergo a final design change for the year after the program’s conclusion and remain that way for 25 years. An exemption to this rule will be to maintain the America the Beautiful Quarters Program as part of the transition.

And no more circulating commemoratives of the same coin. Either have the Presidential $1 Coin or the Native American $1 Coin, not both!

The US Mint will maintain the annual coin programs for all circulating coins. Mint Set will remain coins that have come from business strike production lines and proof coins will continue to use specially treated planchets as they do today. Additionally, the US Mint will continue to produce the Silver Proof Set except that the one-cent coins will be struck in an alloy of 95-percent copper.

Finally, it is time to make the one-dollar coin worth striking. The only way to do this is to stop producing the one-dollar Federal Reserve Note. The United States is the only “First World” country that continues to produce its unit currency in paper form. Even as the $1 FRN continues to be produced, some countries are eliminating more lower denominations to save on costs. It is time for the United States to do the same. In fact, the United States should also eliminate the $2 note.

At the end of the series, there will be an article about the paper currency and the Bureau of Engraving and Printing.

There are relatively few changes necessary for circulating coins. In the next article, we will look at the commemorative coin program.

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