During an election year, especially one that has become very contentious, having any legislation passed would be seen as something of a miracle. This past month, there was only one bill introduced in each chamber.
H.R. 4592: Naismith Memorial Basketball Hall of Fame Commemorative Coin Act
Sponsor: Rep. Richard Neal (D-MA)
• Introduced: February 23, 2016
• Referred to the House Financial Services Committee
Introducing bill like this one to honor the Naismith Memorial Basketball Hall of Fame simultaneously in both chambers is common. Members that want to push this type of legislation for the people back home can hope that it is taken up at one end or the other on Capital Hill. It only slightly increases the odds of passage.
For this bill, it is proposing a gold $5, silver dollar, and clad half-dollar coins “with such design being emblematic of the game of basketball.” The bill calls for a design competition with the selected designer receiving a $5,000 award.
The bill calls for the usual surcharges ($35 for the gold coin, $10 per silver, and $5 per half dollar) that will be paid “to the Naismith Memorial Basketball Hall of Fame to fund an endowment that will enable the further operations of the Naismith Memorial Basketball Hall of Fame.”
For some reason, when I saw this bill all I could think about was that old commercial starring Michael Jordan and Larry Bird competing for a fast food lunch. If you do not remember, here is the ad:
Have you ever looked at a coin and wondered where the design ideas come from? Have you ever said to yourself that you could do a better job? Then here is your chance!
There is a caveat: you have to be an artist of some type and a U.S. citizen 18 years of age or older. Phase I of the competition is the evaluation of up to five examples of your work submitted digitally to the U.S. Mint who is hosting the competition committee. You have to be able to submit a digital portfolio. Even if your work is good and you think you can be part of the competition, you either have to be able to take a good picture of your work or find a photographer who can help.
The “expert jury” will review your portfolio and select no more than 20 artists for the second phase.
Phase II, those selected artists will be asked to submit one design along with a plaster model of both the obverse and reverse for the proposed coin. Only one artist’s design will be selected
The winning artist will receive $10,000 and have your name etched in numismatic lore for being the designer of the coin. For this, your initials will appear on the coin, the Certificate of Authenticity, and in places like the Red Book!
“Artists are expected to distill the program’s design theme to its essence, representing a complicated subject on a very small palette.” A silver dollar is 38 millimeters in diameter!
Cassie McFarland holds up Baseball Hall of Fame Commemorative Dollar with her design
Remember Cassie McFarland? She was the artist from California who entered the National Baseball Hall of Fame Commemorative Coin competition and won the design contest. This is the coin whose clad half-dollar won Coin of the Year honors for the most innovative coin on a commemorative that was just about a sellout (over 1 million coins struck).
Artists are always looking for a something to add to their portfolio. McFarland has had her picture in nearly every major newspaper throughout the United States and the image here has made the rounds on social media. I hope she has been able to boost her career with this. She definitely deserves any attention she receives.
Think about it… your design on thousands of coins in the hands of collectors, preserved forever. Cassie’s design is. How about you?
I am not a collector of commemorative coins except for when I am interested in the subject or the coin is intriguing. The last commemorative I purchased was the 2015 March of Dimes Silver Dollar because I loved the reverse design. I bought the 2014 National Baseball Hall of Fame Commemorative Silver Proof dollar and clad half dollar because of the subject and the curved design.
But I am on the fence on the 2016 Mark Twain commemorative coins. Like many people, Adventures of Mark Twain and Adventures of Huckleberry Finn were required reading in school. Aside from his literature, he was a fan of emerging technologies and befriended both Thomas Edison and Nikola Tesla. His novel A Connecticut Yankee in King Arthur’s Court brings his interest into the fantasy of time travel, a very interesting book that does not get the credit it deserves.
2016 Mark Twain Commemorative Gold $5 obverse
2016 Mark Twain Commemorative Gold $5 reverse
Later in life after he encountered financial troubles, he embarked on speaking engagements to earn money. His speeches are very insightful and humorous that are worth reading. Twain published a compilation of his speeches in Mark Twain’s Speeches, which can be found in its entirety online.
Aside being a fan of Twain, of the two coins, I really like the design of the gold coin. You can look at that portrait and imagine him intently listening, as it has been documented he did, ready to provide his sharp and witty wisdom when you stopped. Looking at that portrait, I can only imagine what Twain would have said about his imaged appearing on coins. He would have been very amused!
2016 Mark Twain Commemorative Silver Dollar obverse
2016 Mark Twain Commemorative Silver Dollar reverse
How do you feel about the Mark Twain commemorative coins? Are you going to buy them? What do you think?
Which of the Mark Twain commemorative coins did/will you buy? (select all that apply)
Mark Twain Proof Silver Dollar (25%, 13 Votes)
Mark Twain Uncirculated Silver Dollar (24%, 12 Votes)
Mark Twain $5 Gold Proof Coin (16%, 8 Votes)
I'm not sure. (16%, 8 Votes)
I do not buy commemorative coins (8%, 4 Votes)
Mark Twain $5 Gold Uncirculated Coin (6%, 3 Votes)
I am not interested in this commemorative coin (6%, 3 Votes)
Originally, both the press release and apparently the COA from the U.S. Mint announced that the reverse design included Jim and Huck from the Adventures of Tom Sawyer. This error seemed to pass a lot of people who read the books, including me. Jim, who was Miss Watson’s slave who befriended Huckleberry Finn, appeared in the Adventures of Huckleberry Finn. Oops!
Apparently, someone forgot to proof read everything and the COAs were printed with the same information. Rather than distribute the wrong COA, which would have been interesting, the U.S. Mint had them reprinted. Citing an inventory issue, they delayed the sale of the silver dollar. It was not the inventory of coins that was the problem. It was the inventory of the complete package including the COA that caused the delay.
Packaging errors usually do not bring a premium. While they can be amusing, collectors have treated packaging errors as a nuisance. This would have been a fun error to keep around.
As an aside, I noticed that the 2016-W Mark Twain $5 Gold Proof Coin is listed as “Currently Unavailable” on the U.S. Mint’s website. The uncirculated coin is still available. Although there is a mintage limit of 100,000 gold coins regardless of strike type, there is no indication if this is the result of a sell out or a lack of inventory. Stay tuned.
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 2016 and hope that you find the key coin of your dreams!
2016 Mark Twain $5 Gold Commemorative
2016 National Park Service Centennial Commemorative with images of John Muir and Theodore Roosevelt
While reviewing my notes I noticed that I had this draft in my queue. Although drafted in July, I think the topic is still relevant.
In 2009, I wrote a six-part series “Reforming America’s Currency” out of frustration with how behind the United States is in its currency production process (not economic policy) as compared with the rest of the world. After all, the U.S. Mint and the Bureau of Engraving and Printing are the largest money manufacturers in the world. In Part 4, I wrote that the “first reform in commemorative coinage would be that no commemorative would be struck for the sole purpose of raising money for any organization. Regardless of how worthy the organization may be, the association of the commemorative with fundraising taints the process.”
2006 Canada silver $5 Breast Cancer Commemorative Coin
Nearly six years later congress presents us with a clear example of why fundraising must be eliminated from the process with the debate over the Breast Cancer Awareness Commemorative Coin Act (H.R. 2722).
If you are not aware, the original version of H.R. 2722 would have given the proceeds to the Susan G. Komen for the Cure and the Breast Cancer Research Foundation. The argument was whether money raised by the commemorative should go to Komen. As a not-for-profit charitable corporation, Komen supports education and research to fight breast cancer. The organization, founded in 1983, has been one of the more successful organizations in education and providing research funds in the fight against breast cancer.
Komen is not without controversy. Most have been within the last 10 years when the organization has grown to such size and scope that some feel it may be more corporate driven than focused on its original mission. One of its controversies is its association with Planned Parenthood. Komen, who gives grants to organization for women cancer screenings, had been proving grants to Planned Parenthood earmarked for cancer screenings. Since Planned Parenthood has also had its share of controversies, social conservatives balked at the association.
More recently, Planned Parenthood has been accused of unethical practices regarding their medical-related practices. A video surfaced that claims someone at Planned Parenthood would be selling fetal tissue following abortions. It was a hidden camera video whose contents have not been verified. Although the video has some disturbing conversations, it is unknown whether this is an isolated incident or a policy followed by some.
Because of the politics surrounding the abortion issue, the policies of Planned Parenthood, and Komen’s support of Planned Parenthood’s cancer screening programs, Komen was open to attack by right wing demagogues looking to score political points rather by using the concept of guilt by association rather than rational thinking.
Canada’s non-controversial 2007 25-cent Breast Cancer circulating coin
In order to deal with these chest-thumping yahoos, all of whom are white men living in their own glass houses, the bill had to be amended to remove Komen from the organization receiving the money. Rather, all of the proceeds will go only to the Breast Cancer Research Foundation.
Komen may have its controversies but the debate on this issue is beyond the pale. Their mission is for education and cancer research. Their mission should be as non-partisan as anything in this country. Cancer does not discriminate. Cancer will attack anyone at any time for any reason regardless of affiliation outside of being a sentient being.
To bring any other issue into the discussion, regardless of where you fall on the political spectrum, shows congress’s immaturity and that the basic function of raising money using commemorative coins should be discontinued immediately.
Some will be upset over my discussion of politics, but politics are part of the coin making process since the U.S. Mint cannot do much without permission. I also both sides of the issue, but for this debate, I do not care. When you have to go three-degrees of separation to dig up an issue in an unrelated political debate, it gets frustrating. It is yet another illustrations as to why I am against using commemorative coins to raise money for any cause regardless of how I feel about the cause—and I have personal reasons for being in favor of cancer research and education. This debate should have NEVER devolved into a discussion about abortion. The fact that it did stoop to those depths proves that congress needs to get out of the commemorative coin business. It will be one less area they can mess up.
Those who follow politics has watched the machinations that the House of Representatives went through before picking Rep. Paul Ryan (R-WI) as the 54th Speaker of the House of Representatives. During that time, not much else happened outside of the requisite budget battles. But there was one bill introduced that may be of interest:
S. 2185: Breast Cancer Awareness Commemorative Coin Act
Sponsor: Sen. Heidi Heitkamp (D-ND)
• Introduced: October 20, 2015
• Referred to the Senate Banking, Housing, and Urban Affairs Committee
• Summary:
2018 Commemorative program
50,000 $5 “pink gold” coins with $35 surcharge
400,000 silver $1 coins with $10 surcharge
750,000 clad half-dollars with $5 surcharge
Surcharge paid to Breast Cancer Research Foundation for the purpose of furthering breast cancer research
If you think that this bill looks very much like H.R. 2722, you are a very perceptive person. The only difference between this bill and H.R. 2722 is the specification to use “pink gold.” Pink gold is actually “rose gold,” which has a pinkish hue. For the record, Apple’s new iPhone 6S comes in rose gold that looks more pink that “rose.”
Speaking of budget bills, one of those bills, S. 2132, has been reported out of committee and waiting for a Senate vote. What is significant about the bill is that it outlines how much money the U.S. Mint can withdraw from the Public Enterprise Fund, the account where the seigniorage from all coin sales is deposited. The bill states:
United States Mint – United States Mint Public Enterprise Fund
Pursuant to section 5136 of title 31, United States Code, the United States Mint is provided funding through the United States Mint Public Enterprise Fund for costs associated with the production of circulating coins, numismatic coins, and protective services, including both operating expenses and capital investments: Provided, That the aggregate amount of new liabilities and obligations incurred during fiscal year 2016 under such section 5136 for circulating coinage and protective service capital investments of the United States Mint shall not exceed $20,000,000.
Obverse of the Royal Canadian Mint $20 for $20 silver coins
Over the last few years, the Royal Canadian Mint has been producing a series of silver coins called “$20 for $20,” These are .9999 pure silver coins sold with the face value of $20 (in Canadian funds). They are available directly from the RCM to Canadian and United States buyers only.
The advantage to directly buying coins from the RCM is that the exchange rate is very favorable for us Yanks. At the time of writing, C$1 is worth about 77-cents in U.S. currency making a C$20 purchase about $15.41 in the U.S. Another advantage of purchasing coins from the RCM than a dealer is avoiding the dealer markup. One U.S.-based dealer is selling the current $20 Bugs Bunny silver coin for $19.95 in U.S. currency.
For U.S. buyers who use credit cards to purchase coins on the RCM website, while your credit card will be charged in Canadian funds, your bank will charge you a conversion fee. Conversion fees are different between financial institutions and you should consult them for their rates.
Reverse of the Royal Canadian Mint $20 for $20 silver coin featuring Bugs Bunny
Are these coins really a good deal?
RCM’s $20 for $20 coins struck using 7.96 grams of silver. At 27 millimeters, it is comparable in size to the Canadian half-dollar (27.13 millimeters) and smaller than the U.S. half-dollar (30.61 millimeters). While a nice size, a coin containing 7.96 grams of silver is a little more than one-quarter of a troy ounce of the metal. With the cost of silver $15.92 per troy ounce (and the time of writing), the coin only contains $4.07 worth of silver ($5.25 in Canadian funds).
To put it another way, the silver value of the coin is 75-percent of its cost or 400-percent over its melt value!
Reverse of the Royal Canadian Mint $20 for $20 coin featuring “The Man of Steel”
Although the Bugs Bunny coin probably requires a licensing fee to be paid to Warner Brothers, the owner of the famous rabbit’s copyright, not all of the coins use copyright images. Even with production and packaging costs, are these coins worth the extra premium?
Questioning the program’s worth aside, both the Bugs Bunny and Superman coins are very cool designs. Aside from being engraved coins (not colored pictures) and struck as specimen coins (similar to the U.S. Mint’s enhanced uncirculated strikes), it is just plain fun to have coins with the image of childhood interests.
For a little more than $30 including fees and shipping, I can get two silver coins with iconic designs. It is not about collecting for value. It is collecting for fun!
Weighing in at 1 kilogram of fine .999 silver, this enameled proof coin is does not cost $20! With a $250 face value, the Royal Canadian Mint is selling this coin for $2,350.95 ($1,810.80 in the U.S. at the current exchange rate)
Are you a numismatist with training, education or experience? Do you want to be part of the decisions making process in the design of new coins and medals? Can you do this with no compensation, minimal reimbursement, and make decisions with people looking and criticizing your decisions? Then do I have a job for you!
The Citizens Coinage Advisory Committee is looking for a member who is specially qualified in numismatics to fill one of its 11 seats. As one of the 11 members, you will provide one of the many inputs on themes and designs for circulating and bullion coinage, commemorative coins, Congressional Gold Medals, and other medals produced by the U.S. Mint. The other inputs will be the Commission of Fine Arts and the special interest organizations that has the ear of the decision makers including whomever is running the U.S. Mint and the Secretary of the Treasury.
Appointments to the CCAC are for four-year term and are classified as Special Government Employees who are subject to conflict of interest laws and ethics regulations. At the end of the four-year term you can be re-appointed as long as your application is approved.
If you want to be considered to be part of this sausage making process, should submit a resume, along with a cover letter, detailing specific educational credentials, skills, talents, and experience. Applications may be submitted by email to info@ccac.gov, by fax to 202-756-6525, or by snail mail to: United States Mint, 801 9th Street NW, Washington, DC 20220, Attn: Greg Weinman. Submissions must be postmarked no later than Friday, October 9, 2015.
The term Dog Days goes back to ancient Roman times when calendars were measured by the stars. While trying to measure time, the hottest part of the summer would coincide with the brightest star, Sirius, being dominant in the sky. Sirius is part of the constellation Canis Major (big dog).
During the period from about 20 days prior to the height of Sirius to 20 days following, Canis Major would only appear with the sunrise and sunset. Because ancient Romans thought Sirius contributed to the heat and humidity, this period would be called the Dog Days.
Today’s society has attached many meanings to the Dog Days of Summer. In baseball, it is the jockeying for position to get ready for the pennant races. Football begins training camps, politicians warm up to run for office (sometimes a year early), and the temperatures are rising with the east getting too wet and the west not getting wet enough.
These contrasts illustrate a congress that sometimes looks like they are really trying to do something and then really trying to put the “fun” in dysfunctional!
In July, it looks like congress really tried to do some work. Here are the coin-related legislative actions from our from our representatives on Capitol Hill:
It’s the law!
H.R. 893: Boys Town Centennial Commemorative Coin Act
During an election year, especially one that has become very contentious, having any legislation passed would be seen as something of a miracle. This past month, there was only one bill introduced in each chamber.
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The term Dog Days goes back to ancient Roman times when calendars were measured by the stars. While trying to measure time, the hottest part of the summer would coincide with the brightest star, Sirius, being dominant in the sky. Sirius is part of the constellation Canis Major (big dog).
