Dec 27, 2013 | coins, Eagles, gold, silver, US Mint
The collecting public has been enamored with the American Silver Eagle reverse proof. By making the fields look matte and the effigy of Adolph A. Weinman’s Walking Liberty design in a stunning mirror finish, the coin has become a favorite with collectors. Prior to this year, the U.S. Mint produced the American Silver Eagle for the 2006 20th Anniversary Silver Eagle set, 2011 25th Anniversary Silver Eagle set, and the 2012 75th Anniversary of the San Francisco Mint set.
This year, the reverse proof was included in the “2013 American Eagle West Point Two-Coin Set.” The coins were struck as the U.S. Mint branch facility in West Point, New York. The coins feature the “W” mintmark.
Included with the reverse proof coins was a coin that the U.S. Mint called “enhanced uncirculated.” While it looks like a proof coin, the enhanced portion are the selective frosting of elements. Introduced earlier this year, the new laser frosting technique allows the U.S. Mint to selectively apply the frosting texture to areas of the dies in a matter that leaves fine details of the coins. For the enhanced American Silver Eagles, the selective frosting leaves the folds of Miss Liberty’s skirt mirrored and is used to show off the flag she is holding. Weinman’s Walking Liberty image is one of the best designs every to appear on a U.S. coin. Enhancing it in this manner just makes it pop in a way Weinman could never imagine.
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2013-W American Silver Eagle reverse proof
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2013 American Eagle West Point Two-Coin Silver Set with reverse proof and enhanced uncirculated coins.
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2013-W American Silver Eagle enhanced uncirculated coin
In a recent conversation with Acting Mint Director Richard Peterson, he said that the U.S. Mint’s most successful coin launch in recent history was the American Buffalo reverse proof coin. The coin was first offered for sale at the World’s Fair of Money this past August, the U.S. Mint did not have enough inventory in order to meet the demand.
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2013-W American Buffalo gold reverse proof obverse
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Reverse of the 2013-W American Buffalo gold reverse proof
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1913 Buffalo Nickel Type 1 Reverse
The 24 karat gold coin that was first issued in 2006 featuring the 1913 Type 1 Buffalo Nickel, was issued to celebrate the 100th anniversary of the design by James Earle Fraser. Fraser, who had a reputation as being a finicky artist, would likely be happy to see his Type 1 Buffalo nickel design as a gold reverse proof coin. Black Diamond never looked so good!
Although it has not been announced, Peterson suggested that the Kennedy half dollar may see an enhancement. Since 2014 will be the 50th anniversary of the Kennedy Half Dollar, expect the U.S. Mint to do something for this anniversary. It would not be a surprise to see a set with reverse proof and enhanced uncirculated coins.
Using the enhanced uncirculated treatment, if a 2014-S coin paid tribute to the Bicentennial reverse, can you imagine how good that would look?
Dec 25, 2013 | base metals, cents, coins, commentary, dollar, Federal Reserve, gold, history, Morgan, Peace, silver, US Mint
Two discussions that transcended numismatics is what to do about the one dollar coin and common one-cent coin. Both coins cause different problems depending on who is doing the arguing. I find it amazing that the logic that is used to support the argument is not used consistently.
Dollar coins have been around since the beginning of the republic. In fact, the coin that currently holds the record for being the most expensive coin sold at auction is a 1794 Flowing Hair dollar. The coin is reported to be amongst the first dollar coins minted at the newly created Mint was bought by Legend Numismatics for more than $10 million. Laura Sperber, one of the principals of Legend Numismatics, was quoted as saying that she was prepared to bid higher for the coin.
If that is not enough to show how important the dollar coin has been in our history, there is always the 1804 Bust dollar, also known as “The King of Coins.” The U.S. Mint ceased to strike dollar coins in 1804 because of hoarding when the price of silver rose. The dollars that were struck in 1804 were struck using dies dated 1803 and are indistinguishable from the coins struck in 1803. The U.S. Mint continued to strike “minor coinage” to encourage circulation.
In 1834, eight dollar coins were struck with the 1804 date to include in a special set created as a gift for the King of Siam (the area known today as Thailand). One coin was included in the set, one was retained by the U.S. Mint for its collection that is now part of the National Numismatic Collection at the Smithsonian National Museum of American History, and the six others were kept as souvenirs by Mint officials and eventually landed in private collections. Between 1858 and 1860 seven more specimens were surreptitiously by U.S. Mint employee Theodore Eckfelt. It is alleged that Eckfelt created 15 coins. Six are in private collection, one is now part of the National Numismatic Collection and the others were reported to be destroyed when seized by the government.
The Coinage Act of 1873, known as “The Crime of ’73,” ended the free coining of silver and put the United States strictly on the gold standard until the western states where silver was being mined became upset. Two weeks later, congress passed the Bland-Allison Act to required the Department of the Treasury to buy the excess silver and use it to strike the Morgan Dollar. Morgan dollars, especially those struck at the branch mint in Carson City, Nevada are popular with collectors because of their ties to the days of the old west. Collectors can find quite a few nice examples of Morgan and the Peace dollars that were struck from 1921 through 1938 because many did not circulate. These coins were held as backing to silver certificates in circulation and did not get released to the general public until the GSA Hoard sales that begin in the 1960s.
Such a colorful history also has a downside that is used as fodder against the dollar. After ending the production of the Peace dollar in 1938, no dollars were struck until 1964 when the U.S. Mint struck 316,076 1964-D Peace dollars in May 1965. The coins were never put into circulation and the entire population of 1964-D Peace dollar were allegedly destroyed. There have been reports that some Peace dollars were struck using base metals (copper-nickel clad) as experimental pieces in 1970 in anticipation of the approval of the Eisenhower dollar. The same reports also presume these coins have been destroyed.
The Eisenhower dollar was not well received because of its size. The 38mm coin was seen as too big for modern commerce and with the exception of dollars struck with the special bicentennial reverse in 1975 and 1976, most coins did not circulate.
The Susan B. Anthony dollar coin was introduced in 1979 with much fanfare for being the first coin to honor a woman. The coin was a failure because it was confused with a quarter
Since the introduction of the Sacagawea dollar in 2000, the dollar coin’s size has remained the same but with the addition of manganese has a golden color to be visually different from other coins. For the visually impaired, the reeding was removed from the edges. Today, the Presidential $1 coins and the Native American $1 Coins have edge lettering that keeps it tactically different from the quarter dollar. However, people continue to bring up the Susan B. Anthony dollar as a reason not to use dollar coins.
Historically, dollar coins has been more popular in the western regions of the United States where the east prefers paper. Financial centers and big city government prefers paper for its alleged ease of handling. When circulated side-by-side, the public tends to choose paper over coin.
When we look around the world for examples of how to handle this situation, we find that the United States is the only country where the unit currency is available in both paper and coin. Other countries did not give people a choice. Rather, their governments made a decision based on overall economic benefits of using a coin with a predicted 30-year lifespan over paper currency that can last 18-24 months in circulation. Instead of the argument being of practical economics where every other country and the European Union have put on their proverbial long pants and made a decision that is in their best economic interest, factions in the United States comes up with mind boggling arguments of alleging that taking the paper dollar away is akin to taking away our freedom.
Obverse of the 2013-S Lincoln proof cent. Lincoln’s portrait, designed by Victor D. Brenner in 1909, is the longest running design of any United States coin.
The United States has a history of using its currency to boost the economic status of its citizens, aside from the various silver laws and the laws that eventually took the United States off the gold and silver standards, the creation of the half-cent was made because of the economic status of its citizens. Following Alexander Hamilton’s Treasury Secretrary’s report to congress “On the Establishment of a Mint,” Secretary of State Thomas Jefferson had another idea. Jefferson thought it would be better to tie subsidiary coins tied to the actual usage of the 8 reales coin. At the time, rather than worry about subsidiary coinage, people would cut the coin into pieces. A milled dollar cut in half was a half-dollar. That half-dollar cut in half was a quarter-dollar and the quarter-dollar cut in half was called a bit.
The bit was the basic unit of commerce since prices were based on the bit. Of course this was not a perfect solution. It was difficult to cut the quarter-dollars in half with great consistency which created problems when the bit was too small, called a short bit. Sometimes, short bits were supplemented with English pennies that were allowed to circulate in the colonies.
As an aside, this is where the nickname “two bits” for a quarter came from.
Jefferson felt that in order to convert the people from bit economy to a decimal economy, the half-cent was necessary to have 12½ cents be used instead of a bit without causing problems during conversion from allowing foreign currency to circulate as legal tender until the new Mint can produce enough coinage for commerce.
The half-cent would come into focus in the 1850s when the cost to produce the United State’s copper coins was nearly double their face value. In 1856, the Mint produced the first of the small cents, the Flying Eagle small cent, and produced 700 samples to convince congress to change to the small cent. As part of the discussion was the elimination of foreign currency from circulation making the U.S. Mint the sole supplier of coins.
There is no record of outcry from the public on the elimination of the half-cent. Its elimination came four years after the Coinage Act of 1853 that created the one-dollar and double eagle gold coins in response to the discovery of gold in North Carolina, Georgia, and California. The gold rush caused a prosperity and inflation that not only made the half-cent irrelevant but not something on the public’s mint. In that light, the Mint and congress felt that it just outlived its usefulness and would not be necessary with the elimination of foreign currency from circulation.
More controversy was generated in 1857 over the demonetizing foreign coins in the United States than the elimination of the half-cent. While the half-cent continued to circulate, it was estimated that one-third of the coins being circulated were foreign, primarily reales from Mexico. Redemption programs did not go smoothly, but in the end foreign coins were taken out of the market and the American people adapted and it could be said we prospered as a nation.
Like the 1850s, the last seven years have found that the cost of the copper used to make the one-cent coin has increased to more than the coin’s value. Combined with the labor and manufacturing costs, it costs the U.S. Mint between 1.6 and 1.8 cents for each copper-coated zinc cent struck. Although people argue that the cent is not needed and is barely useful, the U.S. Mint reports that 65-percent of its production are for one-cent coins that are ordered by the Federal Reserve to be circulated in commerce.
Eliminating the cent has caused controversy from those concerned with the economic welfare of the less fortunate. Many are using the same arguments that Jefferson made in 1791 to create the half-cent in order to keep the one-cent coin in circulation while others point to what other countries are doing. Canada is currently the country with the largest economy to eliminate its lowest denomination coin. Proponents of eliminating the cent point to Canada’s rocky success (withdrawal of the cent had been delayed twice) as an example of how the United States can handle the situation.
Canadian 1-dollar and 2-dollar coins. The 1-dollar coin is called a Loonie because its reverse depicts a common loon. “Toonie” is a play on the Loonie nickname.
Suggesting that if the United States follows Canada’s lead in the elimination of the cent, should the United States follow Canada’s lead and eliminate the one- and two-dollar Federal Reserve Notes in favor of one- and two-dollar coins?
This debate will continue until someone decides to act like an adult and make a definitive policy decision—especially when the Fed publishes a “working paper” that cherry picks facts to support a specific viewpoint.
Image of the Susan B. Anthony dollar and Lincoln cent courtesy of the U.S. Mint.
Image of the Canadian Loonie and Toonie courtesy of
Noticias Montreal.
Dec 23, 2013 | celebration, coins, commentary, Federal Reserve, platinum, US Mint
If there was a countdown of the idiocy of the punditocracy of this country, the discussion over the $1 Trillion platinum coin would be the number 1 story. As I previously explained, which it is feasible for the U.S. Mint to strike a $1 Trillion coin, the question remains, “Who will buy the coin?” In order for the U.S. Mint to gain from the seigniorage that would come from minting and selling this coin.
If the coin is has to be paid for by a depositor before it can become legal tender, who will buy a $1 Trillion coin?
How could the coin be used to reduce the debt? If the coin is just deposited with the Federal Reserve, there will be a $1 Trillion liability on the government’s balance sheet. In order to make the books balance, the Department of Treasury would have to sell debt bonds to make up the difference and that would add $1 Trillion to the national debt.
If the coin is bought by the Federal Reserve, then the Fed will have to pay $1 Trillion to the U.S. Mint for the coin reducing its overall working capital by $1 Trillion. Paying for a $1 Trillion that could not be used will just transfer the debt from the general treasury to the Federal Reserve. Since the Federal Reserve is in charge of managing the country’s money supply, the net effect will be to reduce the money supply by $1 Trillion that will cause the economy to shrink—any time you artificially remove money from the economy it will shrink which will also weaken the buying power of the U.S. dollar.
Transferring the debt away from the general fund might look good on paper but the effect will shrink the economy and cause more problems than even considering the constitutionality of doing this.
The bottom line is that regardless of what the U.S. Mint sells, there has to be a buyer. If there is no buyer then all the government would do is transfer balances from one balance sheet to another without any net gain.
Dallas-based Heritage Auctions, held a mock contest on Facebook for the public to design a potential $1 trillion coin. The concept of a coin was even a joke to the folks at Heritage whose mockup included famed Mad Magazine “pitchman” Alfred E. Newman.
Dec 12, 2013 | celebration, coins, love token
Fly me to the moon
Let me play among the stars
Let me see what spring is like
On a-Jupiter and Mars
Gift coin presented to guests at Sinatra’s 77th birthday bash at the Star’s Desert Inn casino
Born in Hoboken, New Jersey, Sinatra never graduated high school having been expelled for not being a good buy. While working as a riveter and delivering newspapers, Sinatra used to sing for tips—something he had done since he was eight years old. Eventually, Sinatra began signing at local clubs in Hoboken before becoming a professional singer in the 1930s.
Sinatra was a troublemaker throughout his career. Starting with his break-up with the Hoboken Four and subsequent disagreements with Tommy Dorsey, Sinatra went in the 1040s and the beginning of World War II as a capable musician but not liked amongst his peers. Although he was classified as 4-F for military service (“Registrant not acceptable for military service” by the draft board) because of a perforated ear drum, many active-duty entertainers and journalists hated that he flaunted his lifestyle while many were serving, even if they were just entertaining or acting as clerks without the fame or glamor.
Although Sinatra started to act in 1944 and co-starred with Gene Kelly and Kathryn Grayson in Anchors Aweigh, Sinatra returned to acting to help repair his image. He co-starred with Gene Kelly and Esther Williams in Take Me Out to the Ballgame to critical acclaim.
The best is yet to come, and wont that be fine
You think you’ve seen the sun, but you ain’t seen it shine
Modern Hobo Nickel based on the Hirschfeld portrait of Sinatra by AG
Sinatra was a his acting stride in 1960 when he starred with Dean Martin, Sammy Davis Jr., and Peter Lawford, the original “Rat Pack,” in Ocean’s Eleven. He appeared in 17 more movies until 1970. After 36 years in show business, Sinatra announced his retirement in 1970.
Of course he made a comeback playing concerts and making guest television appearances. Sinatra also sang for songs that appeared in movies and later appeared with other artists in duets. He was one of the recipients of the 1983 Kennedy Center Honors with Katherine Dunham, James Stewart, Elia Kazan, and Virgil Thomson.
Sinatra’s last public concert was held in Japan in December 1994. The last time he sang for an audience was at a private part for the closing night of the Frank Sinatra Desert Classic golf tournament in February 1995. He ended the show singing “My Way.”
After that show he began reducing his appearances and stopped appearing publicly following a heart attack in February 1997. He died in May 1998 following a second heart attack at Cedars-Sinai Medical Center at 82 years old.
Frank Sinatra courted controversy throughout his life. Although a later release of FBI files showed he had almost no ties to organized crime, Sinatra embraced that controversy in order to overcome his own insecurities and to gain acceptance and access to what was then mob-controlled Las Vegas, where he saw great success. In fact, the Gaming Hall of Fame inducted Sinatra as a member in 1997.
And now, the end is near
And so I face the final curtain
My friend, I’ll say it clear
I’ll state my case, of which I’m certain
I’ve lived a life that’s full
I traveled each and ev’ry highway
And more, much more than this, I did it my way.
Ol’ Blue Eyes himself.
Dec 7, 2013 | BEP, coins, currency, news, US Mint
While the products that the U.S. Mint can offer are restricted to what congress allows them to do by law, it does not mean that congress controls how the U.S. Mint markets and sells its numismatic products. To try to get more people to buy its products, the U.S. Mint has made a series of announcements,
Free is still better
U.S. Mint’s Black Friday and Cyber Week sale of FREE SHIPPING for items sent via standard shipping that was supposed to end at 5:00 PM ET today, December 6th, has been extended to5:00 PM ET on December 17th. The U.S. Mint cited they are doing this for holiday “shoppers seeking online deals and discounts.” December 17 is also the first day of sale of the 2013 Teddy Roosevelt Coins and Chronicles set. Those interested in the Coins and Chronicles set can have it shipped free if they order the set on December 17.
New brick and mortar storefront
Last month, the U.S. Mint “partnered” with the Bureau of Engraving and Printing by cross advertising each other’s products on their websites. Essentially, these Department of the Treasury bureaus created a page on their respective websites pointing to each other.
Bureau of Engraving and Printing Washington, D.C. Headquarters
Credit for this move can probably be given to Deputy Director and Acting Director of the U.S. Mint Richard Peterson, Director of the Bureau of Engraving and Printing, Larry Felix, and Treasurer of the United States Rosie Rios. What makes this interesting is that Peterson and Felix are career government employees and were not appointed by the President.
Peterson began his work with the U.S. Mint in 2009 when he was hired as their Associate Director of Manufacturing.
Felix, a long-term professional employee of the Bureau of Engraving and Printing, has been the bureau’s Director since January 2006.
Although Rios was appointed by President Obama and took office in August 2009, has not been the prototypical political appointee. Rios has been outspoken in her support of the numismatic community and seeks out ways to participate. She is a staple at coin and currency shows autographic Series 2009 $1 Federal Reserve Notes that bear her signature—something she calls “Rosi notes.&rdquots; It would not be surprising to learn she was instrumental in making this cross-bureau initiative happen.
Get your Rosie Dollars autographed
Treasurer of the United States Rosie Rios
The BEP will allow visitors to exchange notes on site and have a supply of new $100 Federal Reserve Notes to purchase for Rios’s autograph. Having a $100 note autographed by Rios would be interesting. Many people may not spend $100 to set aside for this type of collectible making it possible that it could increase in value. How many speculators will there be at her next autograph session?
Last chance!
As we approach the end of the year, the U.S. Mint announced that they will be ending sales of the 2013 5-Star Generals Commemorative Coin Program and Girl Scouts of the USA Centennial Silver Dollar. Also on the last chance are 2012 coin sets, 2012 Platinum American Eagles, and 2012 First Spouse coins.
Will you trade $100 for a new $100 note to have it autographed by Treasurer of the United States Rosie Rios?
Dec 4, 2013 | coins, legislative, policy, US Mint
Cue the crickets…
There were no bills introduced, discussed or voted on by congress in November.
Regardless of the side of the political aisle you sit there is no denying that congress’s approval ratings being at an an all time low is not surprising. In the context of numismatics, congress decides what is produced making those of us interested in the numismatic market a watcher of congress as closely as the spot prices of precious metals. The monthly article describing the monthly legilsative activity in congress is from watching what may be in the pipeline for future products from the U.S. Mint.
Just so there is something to report, here is a list of the coin-related legislation and its status for the 113th congress:
Signed into Law
Believe it or not, there has been some law making in this congress. The following has passed both the House of Representatives and Senate and has be signed by the President of the United States into law:
H.R. 1071: To specify the size of the precious-metal blanks that will be used in the production of the National Baseball Hall of Fame commemorative coins.
Sponsor: Rep. Richard Hanna (R-NY)
• This bill is a technical change to the National Baseball Hall of Fame Commemorative Coin Act.
• Signed by the President on May 17, 213
• This bill became Public Law 113-10
See the information about this bill at http://www.govtrack.us/congress/bills/113/hr1071
Passed in the House of Representatives
Bills introduced and passed in the House of Representatives are sent to the Senate for consideration. The following bill passed the House and is awaiting action in the Senate:
H.R. 2754: Collectible Coin Protection Act
Sponsor: Rep. George “G.K.” Butterfield, Jr. (D-NC)
• To amend the Hobby Protection Act to make unlawful the provision of assistance or support in violation of that Act
• Introduced: Jul 19, 2013; Referred to House Energy and Commerce Committee
• Passed in the House of Representatives: Jul 30, 2013 (voice vote)
• Received in the Senate: July 31, 2013; Referred to Senate Committee on Commerce, Science, and Transportation
Track this bill at http://www.govtrack.us/congress/bills/113/hr2754
Introduced in the House of Representatives
Coin-related bills introduced in the House of Representatives are usually referred o the House Committee on Financial Services. Bills referred to other committees are noted in the following list of bills introduced in the House:
H.R. 77: Free Competition in Currency Act of 2013
Sponsor: Rep. Paul Broun Jr. (R-GA)
• To repeal the legal tender laws, to prohibit taxation on certain coins and bullion, and to repeal superfluous sections related to coinage.
• Introduced on January 3, 2013
• Referred to the Financial Services, Ways and Means, and the Judiciary Committees on January 3, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr77
H.R. 220: Stop the Coin Act
Sponsor: Rep. Greg Walden (R-OR)
• To limit the face value of coins that the Secretary of the Treasury may issue.
• Introduced on January 14, 2013
• Referred to the House Committee on Financial Services on January 14, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr220
H.R. 627: National Park Service 100th Anniversary Commemorative Coin Act
Sponsor: Rep. Erik Paulsen (R-MN)
• To provide for the issuance of coins to commemorate the 100th anniversary of the establishment of the National Park Service.
• Introduced: February 13, 2013
• Referred to the House Financial Services Committee on February 13, 2013
Track this bill at
H.R. 1218: Commemorative Coins Reform Act of 2013
Sponsor: Rep. Justin Amash (R-MI)
• To prohibit the payment of surcharges for commemorative coin programs to private organizations or entities
• Introduced: March 15, 2013
• Referred to the House Financial Services Committee on March 15, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr1218
H.R. 1653: Pro Football Hall of Fame Commemorative Coin Act
Sponsor: Rep. James Renacci (R-OH)
• Introduced: April 18, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr1653
H.R. 1719: Cents and Sensibility Act
Sponsor: Rep. Steve Stivers (R-OH)
• To amend title 31, United States Code, to save the American taxpayers money by immediately altering the metallic composition of the one-cent, five-cent, dime, and quarter dollar coins, and for other purposes.
• Introduced: April 24, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr1719
H.R. 1905: Mother’s Day Centennial Commemorative Coin Act
Sponsor: Rep. David McKinley (R-WV)
• Introduced: May 9, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr1905
H.R. 2366: World War I American Veterans Centennial Commemorative Coin Act
Sponsor: Rep. Doug Lamborn (R-CO)
• Introduced: June 13, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr2366
H.R. 2633: Thirteenth Amendment Commemorative Coin Act
Sponsor: Rep. Danny Davis (D-IL)
• To require the Treasury to mint coins in commemoration of the Sesquicentennial Anniversary of the adoption of the Thirteenth Amendment to the United States Constitution, which officially marked the abolishment of slavery in the United States.
• Introduced: July 9, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr2633
H.R. 2760: Panama Canal and Pan-Pacific Exhibition Centennial Celebration Act
Sponsor: Rep. Nancy Pelosi (D-CA)
• To require the Secretary of the Treasury to mint coins in commemoration of the centennial of the Panama-Pacific International Exposition and the Panama Canal
• Introduced: July 19, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr2760
H.R. 2932: United States Coast Guard Commemorative Coin Act
Sponsor: Rep. Joe Courtney (D-CT)
• To require the Secretary of the Treasury to mint coins in commemoration of the United States Coast Guard.
• Introduced: August 1, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr2932
H.R. 3146: Savings, Accountability, Value, and Efficiency (SAVE) II Act
Sponsor: Rep. Patrick Murphy (D-FL)
• To take steps to reduce the deficit of the Federal Government.
• Sec. 8. Prohibition On Non-Cost Effective Minting and Printing Of Coins and Currency
• Introduced: September 18, 2013
• Referred to many committees including the Committee on Ways and Means
Track this bill at http://www.govtrack.us/congress/bills/113/hr3146
Sponsor: Rep. Michael Fitzpatrick (R-PA)
• To improve the circulation of $1 coins, to remove barriers to the circulation of such coins.
• Introduced: October 22, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/hr3305
Introduced in the Senate
Even though financial bills are constitutionally required to begin in the House of Representatives, it is not beneath the Senate to introduce their own legislation or concurrent bills with the House. Coin-related bills introduced in the Senate are usually referred to the Senate Committee on Banking, Housing, and Urban Affairs. The bills introduced in the Senate are as follows:
S. 94: To terminate the $1 presidential coin program
Sponsor: Sen. David Vitter (R-LA)
• Introduced on January 23, 2013
• Referred to the Senate Committee on Banking, Housing, and Urban Affairs on January 23, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/s94
S. 203: Pro Football Hall of Fame Commemorative Coin Act
Sponsor: Sen. Robert “Rob” Portman (R-OH)
• A bill to require the Secretary of the Treasury to mint coins in recognition and celebration of the Pro Football Hall of Fame.
• Introduced on January 31, 2013
• Senate Banking, Housing, and Urban Affairs Committee on January 31, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/s203
S. 768: Sound Money Promotion Act
Sponsor: Sen. Mike Lee (R-UT)
• A bill to treat gold and silver coins used as legal tender in the same manner as United States currency for taxation purposes.
• Introduced: April 18, 2013
• Referred to the Senate Committee on Finance
Track this bill at http://www.govtrack.us/congress/bills/113/s768
S. 1011: Boys Town Centennial Commemorative Coin Act
Sponsor: Sen. Mike Johanns (R-NE)
• A bill to require the Secretary of the Treasury to mint coins in commemoration of the centennial of Boys Town
• Introduced: May 22, 2013
• Referred to the Senate Committee on Finance
Track this bill at http://www.govtrack.us/congress/bills/113/s1011
S. 1105: Currency Optimization, Innovation, and National Savings Act
Sponsor: Sen. Tom Harkin (D-IA)
• To improve the circulation of $1 coins, to remove barrier to the circulation of such coins
• Introduced: June 6, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/s1105
S. 1158: National Park Service 100th Anniversary Commemorative Coin Act
Sponsor: Sen. Mark Warner (D-VA)
• Introduced: June 13, 2013
Track this bill at http://www.govtrack.us/congress/bills/113/s1158
Nov 29, 2013 | celebration, coins, US Mint
As we welcome Black Friday and the holiday shopping season, the U.S. Mint is getting into the act by bringing back Free Standard Shipping. Buy whatever your want from the U.S. Mint online catalog and get free standard shipping until December 6, 2013.
According to sources, the free shipping promotion in September went very well bringing increased sales volume to the U.S. Mint. Since shipping and packaging are the few aspects that the U.S. Mint can control on its own, they are going to use whatever it takes to get noticed to bring collectors and gift buyers to their site.
They got me. I am going to be ordering my 2013 Presidential Dollar First Day Covers with the free shipping. I have to keep my collection up to date!
Unfortunately, the Teddy Roosevelt Coins and Chronicles set will not be released until December 17, after the free shipping sale.
Nov 25, 2013 | bullion, coins, commemorative, Eagles, poll, US Mint
2012 American Eagle Platinum Proof reverse “To Provide for the Common Defence”
Let’s pretend that the Citizens Coinage Advisory Committee could bypass congress (very wishful thinking!), Citizens Coinage Advisory Committee, and the U.S. Commission of Fine Arts to build a portfolio of non-circulating legal tender commemoratives to increase collector sales. Today’s poll, which will run for two weeks, asks what the U.S. Mint should do with its pretend freedom.
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For the record, I am in favor of allowing the U.S. Mint to increase the offerings under the American Eagle program. The U.S. Mint has done some of that to this point with the enhanced reverse uncirculated coins and special sets. There should be more special offerings or different offerings. The U.S. Mint could change the reverse designs to honor different themes like they have been doing on the reverse of the platinum American Eagle coins.
I would also like to see more of the enhanced uncirculated American Silver Eagle coins. The way it enhanced Adolph Weinman’s Walking Liberty design makes it a great looking collectible.
Nov 22, 2013 | coins, halves, history, US Mint
It was the modern day “Shot heard ’round the world.” At 12:30 PM Central Time, while the motorcade carrying President John F. Kennedy, First Lady Jacqueline Kennedy, Texas Governor John Connally, and Connally’s wife Nellie was twice fired upon while passing through Dealey Plaza in Dallas. Lee Harvey Oswald fired two shots from the Texas School Book Repository at the convertible. The first shot hit the President under his arm which was held up as he waved at the crowd. The bullet passed through his body and struck Governor Connally. The second bullet struck the President in the head.
At 1:00 PM, President John Fitzgerald Kennedy was pronounced dead at Parkland Hospital.
Vice President Lyndon B. Johnson refused to leave Dallas for Washington without the Jacqueline Kennedy or the body of the president. At 2:38 PM, Johnson took the oath of office aboard Air Force One with Mrs. Kennedy at his side. She wore the blood-splattered coat to remind people of the tragedy that just occurred.
Fifty years later, those who experienced the assassination as part of the American family continues to remember the sadness and grieving by everyone, even those that did not support Kennedy. Some have described the feeling as more profound than what we experienced on September 11, 2001 because while both were tragedies, Kennedy was the living symbol of a bright future.
“We choose to go to the Moon in this decade and do the other things, not because they are easy, but because they are hard.”
—John F. Kennedy
Sept. 12, 1962
Kennedy became the youngest person to ever be elected as President and the first Roman Catholic. At 43, Kennedy was the promise of a new vision that would have the United States leading the world in fighting the “common enemies of man: tyranny, poverty, disease, and war itself.” In his inaugural address, he called the nation to arms for its own sake when he said, “Ask not what your country can do for you, ask what you can do for your country.”
Kennedy made an impact on this country in such a short period of time that one can wonder what would have happened if….
A few days after Kennedy’s assassination on November 22, 1963, U.S. Mint Director Eva Adams, Chief Engraver Gilroy Roberts reported that there was discussions about putting Kennedy’s portrait on a silver coin. Since Jacqueline Kennedy did not want to replace Washington’s portrait on the quarter, it was decided to use the half-dollar. Roberts used models from the inaugural medal for the obverse design and Assistant Engraver Frank Gasparro prepared the reverse design using the Presidential Seal.
Since the law stated that coinage design could not be changed more often than 25 years, and that the Franklin Half was only 15 years old, it required Congress to authorize the change. The Act of December 30, 1963 allowed the design to be changed.
When the coin was released in 1964, the 90-percent silver coin was saved by a grieving nation wanting something that represented the fallen President. Over 273 million coins were struck in Philadelphia and 156 million in Denver. The composition was changed in 1965 with the introduction of clad coinage. Half-dollars consisted of 40-percent silver that included a core made from 79-percent copper and 21-percent silver. In 1971, the composition was changed to current copper-nickel clad that is in use today.
There has been one design change to the coin and that occurred in 1975 and 1976 in honor of the American Revolution Bicentennial. A special reverse depicting Independence Hall in Philadelphia was designed by Seth G. Huntington. For both years, the obverse featured the dual date 1776-1976 in celebration.
On the 50th anniversary of his assassination, we salute President John Fitzgerald Kennedy for his service and mourn the loss to this country.
Nov 19, 2013 | coins, commemorative, history, news
Thursday, November 19, 1863, at the dedication of the Soldier’s National Cemetery in Gettysburg, Pennsylvania, following the the two-hour speech by Edward Everett, President Abraham Lincoln gave short, yet profound address:
Fourscore and seven years ago our fathers brought forth on this continent a new nation, conceived in liberty and dedicated to the proposition that all men are created equal.
Now we are engaged in a great civil war, testing whether that nation or any nation so conceived and so dedicated can long endure. We are met on a great battlefield of that war. We have come to dedicate a portion of that field as a final resting-place for those who here gave their lives that that nation might live. It is altogether fitting and proper that we should do this. But in a larger sense, we cannot dedicate, we cannot consecrate, we cannot hallow this ground. The brave men, living and dead who struggled here have consecrated it far above our poor power to add or detract.
The world will little note nor long remember what we say here, but it can never forget what they did here. It is for us the living rather to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us—that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion—that we here highly resolve that these dead shall not have died in vain, that this nation under God shall have a new birth of freedom, and that government of the people, by the people, for the people shall not perish from the earth.
Obverse of the 2009 Abraham Lincoln Commemorative proof coin
Ironically, everyone was not enamored with Lincoln’s brief speech. The Patriot-News of Harrisburg, Pennsylvania did not like the speech. In an editorial published a week after the speech on Tuesday, November 24, 1863, The Patriot-News editorial board added the following paragraph about the ceremony:
We pass over the silly remarks of the President. For the credit of the nation we are willing that the veil of oblivion shall be dropped over them, and that they shall be no more repeated or thought of.
On November 14, 2013, almost 150 years later, The Patriot-News published a retraction to their editorial:
In the editorial about President Abraham Lincoln’s speech delivered Nov. 19, 1863, in Gettysburg, the Patriot & Union failed to recognize its momentous importance, timeless eloquence, and lasting significance. The Patriot-News regrets the error.
Obverse of the 2013-S Lincoln proof cent. Lincoln’s portrait, designed by Victor D. Brenner in 1909, is the longest running design of any United States coin.
Coin images courtesy of the U.S. Mint.
