Mar 8, 2011 | coins, commentary, dollar
Did you know that the Presidential $1 Coins are “vanishing from circulation at an alarming rate” because they are being hoarded by collectors? Did you also know that the Presidential $1 Coins were “highly coveted coins every produced by the U.S. Mint” and that they are “vanishing from circulation at an alarming rate?”
This piffle was detailed on a half-hour infomercial entitled DCN Coin Talk starring a pitchman with an official sounding voice and his vapid female sidekick both acting from a script that would have made Phineas Taylor Barnum proud.
Rather than lying awake in the wee hours of the morning, I treated myself to a snack and sat down on the couch in front of the television. After removing the dog’s bone from under my behind, I started channel surfing to find something interesting. I guess cable television does not think anyone would be awake at 5:00 A.M. since the hundreds of stations were filled with bad reruns and infomercials. I found the end of something interesting and watched. After the closing credits, I was greeted with the opening to DCN Coin Talk.
After the opening banter between the pitchman and his muse, they spoke to their correspondent on the scene somewhere in a white room with only a bank vault-like door. The correspondent standing there in a pitch silent room holding his ear as if he holding an IFB in his ear regurgitating his score that ensured he agreed with the pitchman anchor.
To prove this is a legitimate offer, the pitchman anchor introduces David Ganz, “The Father of the 50 State Quarters Series.” Ganz, a long time numismatic author, former President of the American Numismatic Association, lawyer, and Bergen County (NJ) Freeholder, was presented as their numismatic expert as to the potential value of the coins. If you listened carefully, Ganz really did not endorse the product or the claims of their potential price. Ganz did talk about the worth of Morgan Dollars, which were large coins made from 90-percent silver whose population is lower than modern coins. Ganz did not equate the Morgan Dollar to the current Presidential Dollars, but the pitchman anchor really spun what Ganz said into something so positive that it bordered on overreaching.
“You can pay up to six time face value for some of these coins,” the anchor pitchman announced with a smile almost suggesting you could realize a similar profit as well.
After reaching into my pocket for my iPhone, I opened the browser and searched for an article that was familiar sounding. I found an article written by Ganz for Numismatic News that described his experiences making this informercial.
However, the Danbury Mint can help! For $34.95, the Danbury Mint will sell you a roll of 12 “gem uncirculated dollar coins” encased in a plastic roll. Surrounding the roll is an official-looking paper seal that looks like the type placed over the cap on liquor bottles.
But wait, there’s more. In addition to the roll of 12 gem uncirculated dollar coins, you will also receive an additional coin encased in a capsule so that you can have one to admire that is not in the roll. You will receive one roll a month to catch up on the program. All you do is pay $34.95 plus shipping and handling. And since you need to be able to store you new collection, you will also get a beautiful wood case with a tray to hold the capsules above a drawer to hold the rolls. There is a limited supply. Act now before it’s too late!
While the show was entertaining in its absurdity, I am shocked at the chutzpah. What is even more shocking is that I am sure someone is going to buy into this program. I understand that the coins, materials, case, and infomercial costs money, and the purchaser does not care and wants their investment in these coins to appreciate over time. While nobody can predict the future costs of these coins, the truth is that it is doubtful that the buyer would recover the purchase price!
The truth is quite different than what is claimed by this infomercial.
The largest hoards of Presidential $1 Coins are in the coin rooms of the 12 Federal Reserve branches. According to the testimony during a hearing held in July 2010, the representative from the Fed testified that there were $1.1 billion worth of dollar coins waiting to be circulated. When asked why there were so many coins, then U.S. Mint Director Ed Moy testified that even though they have tried to educate the public on the benefit of the coin, most people prefer to use the paper dollar. The hoard is the result of statutory requirements that regulate how many coins are produced.
Rolls purchased from the bank, dealers, or the U.S. Mint’s Direct Ship Program contains 25 coins. Rolls purchased from a bank or the U.S. Mint are sold at face value. Most dealers are selling the rolls at a $8-12 premium including rolls of dollars that are no longer in circulation. You can also purchase older rolls at banks at face value. Visit your bank branch and ask what they have available.
Roll collectors I have spoken with are not interested in short rolls, especially at the retail price of a full roll. Further, roll collectors want to know that the coins within the rolls are from a specific mint. From what I could tell, it is not possible to determine the mint mark on the coins in the Danbury Mint rolls.
If the roll collector wants to collect encased rolls, they usually opt for PCGS Certified Rolls. The PCGS service only accepts rolls from Mint-sealed packaging and places the coins in sonically sealed rolls with their label and tamper evident hologram. These rolls contain 25 coins and dealers have been selling for $50-65.
I have informally polled several online dealers and found that the only Presidential Dollar coins that cost more than $6 are error coins, specifically those with edge errors. Even the most expensive dealer was selling both P & D as a set for $5.75. The most expensive single coin I found was for the uncirculated Lincoln Dollar for $3.50.
While you can buy capsules to hold the coins for around 50-cents each, the coin tubes you can buy holds 25 coins, a full roll. All companies that sell capsules have a storage system that can be displayed on your credenza and easily stored. Some companies make special albums and folders that display the Presidential Dollars well for a fraction of the cost.
Unless you like the display format and do not care about the long term value of the set as sold by the Danbury Mint, then I would not recommend anyone buy into this offer.
Dec 12, 2010 | bullion, coins, dollar, national park quarters, US Mint
It is difficult to determine if 2010 was a good year for those collecting coins from the U.S. Mint. Unlike 2009, the U.S. Mint was able to strike both bullion and proof American Silver Eagle and American Gold Eagle coins. After the outrage of 2009, collectors appear to be happy that the proof Eagles have made a return.
Also new in 2010 were the American the Beautiful Quarters program with designs representing the first five national parks created by an act of congress. As part of each park’s introduction, either Director Edmund Moy or Associate Director Andy Brunhart has visited each of the 2010 celebrated sites for the introduction of the new quarters. Although it has been difficult finding these quarters in pocket change, these new coins had nice designs and was a chance for people to learn about the United State’s wonderful national parks.
Bullion
Bullion programs have caused angst amongst collectors and the U.S. Mint. Collectors found their collections with holes for the 2009 American Eagle Proof coins while waiting close to the end of 2010 to find out that proof Eagles will be produced.
Sales of bullion American Eagles have had mixed results. While the U.S. Mint has not produced bullion Platinum Eagles since 2008, sale of gold bullion has dropped from 2009. With the price of gold climbing from $1,100 at the beginning of the year to over $1,300 since September, investors may be looking for more cost effective investment option.
One investment option has been silver. With over 33 million silver Eagles produced through the first week of December, the U.S. Mint has produced more silver Eagles this year than in any years since the program started in 1986. Silver started the year around $17 per ounce, staggered into March, and then the prices began a slow rise. After breaking the $20 mark in September, the price has been hovering close to $30 the last few weeks. Silver closed at $30.50 on December 7 before dropping below $29 since.
From a collector’s perspective, this has made collecting American Eagles more expensive. Thankfully, the U.S. Mint has resolved its production issues and produced proof Eagles this year. We will see proof Eagles in 2011 with the passage of the Coin Modernization, Oversight, and Continuity Act of 2010 that changes the American Eagle Bullion law to allow the U.S. Mint to divert some metals for collectors coins.
Missing from the 2010 line up was the American Buffalo 24-karat Gold Coin. While still an authorized issued, the coin has not roamed the United States since 2008 in both bullion and proof issues. There has been no comment from the U.S. Mint as to whether the coins will make an appearance in 2011.
Circulating Coins
For 2011, the U.S. Mint will produce the Lincoln Cent as redesigned in 2010, the Jefferson Nickel that was redesigned in 2006, the Roosevelt Dime as it was designed in 1946, and the Kennedy Half Dollar as it was released in 1964. No changes are planned for these circulating issues.
In the second year of the American the Beautiful Quarters Program. If the second year designs are as well executed as the first year, the program will continue to be a success from a collector perspective. The second group of quarters will honor Gettysburg National Military Park in Pennsylvania, Glacier National Park in Montana, Olympic National Park in Washington, Vicksburg National Military Park in Mississippi, and Chickasaw National Recreation Area in Oklahoma. The U.S. Mint’s line art shows promise for a very nice looking series.
One part of the American the Beautiful Quarters Program has been the issue of three-inch five-ounce .999 silver bullion coins. Production problems have delayed the release of these coins. According to the U.S. Mint’s press release, there may be collector versions of the coin with limited production runs. Considering the high costs set by the U.S. Mint, it may be difficult for some collectors to justify. But with the production issues worked out, maybe the 2011 versions may sell better.
Dollars
For the third year of the Native American $1 Coin program, the theme for 2011 is “Supreme Sachem Ousamequin, Massasoit of the Great Wampanoag Nation Creates Alliance with Settlers at Plymouth Bay (1621)” celebrating one of the first peace treaties between the Native Americans and the Puritans who settled at Plymouth Bay. The reverse of the coin depicts the hands of the Supreme Sachem Ousamequin Massasoit and Governor John Carver symbolically offering the ceremonial peace pipe after the initiation of the first formal written peace treaty. The designs of the Native American coins have been so well thought out and executed that this one will be a wonderful addition to your collection.
Continuing the Presidential $1 Coin program, the 2011 coins will honor Presidents Andrew Johnson, Ulysses S. Grant, Rutherford B. Hayes, and James A. Garfield. History buffs will begin with President Johnson who was the first president that was impeached but not convicted, followed by three bearded Republicans who started and perpetuated reconstruction through the 19th century. The 2011 series ends with President Garfield whose 200 day term ended with his death on September 18, 1881.
Those collecting the First Spouse Gold Coins will have a year where all four issues will depict the First Lady’s of the era. Standing behind or along side the Presidents where Eliza Johnson, Julia Grant, Lucy Hayes, and Lucretia Garfield. Remember, if you cannot afford the gold coins, the U.S. Mint sells bronze medals using the same design but without the denomination.
Commemoratives
Collectors of commemorative coins will have two multi-coin commemorative issues in 2011, both with a military theme. The first commemorative will be the United States Army Commemorative to honor the history of the U.S. Army from the Revolutionary War through today. The U.S. Army Commemorative will be a three-coin set consisting of a gold $5 proof, silver $1 proof, and cupronickel clad half-dollar proof. The obverse of the gold coin represents the U.S. Army’s war service from the Revolutionary War through today. It features a representation of Continental, Civil War, modern, World War II and World War I soldiers. The reverse is based on the official U.S. Army emblem and represents the unbroken history of loyalty and commitment to defend the Nation.
The obverse of the silver proof depicts the busts of a male and female soldier, symbolizing worldwide deployment of the 21st century U.S. Army. On the reverse, the design symbolizes the seven core values of the U.S. Army featuring an image of the Great Seal of the United States that has been worn on U.S. Army dress and service uniforms since the early 19th Century.
The obverse of the clad half-dollar proof represents the significant contributions of the U.S. Army during peacetime and features a U.S. Army soldier surveying, two servicemen building a flood wall and a Redstone Army rocket used during early space exploration. The reverse design symbolizes the U.S. Army as the first military service to defend the country and its key role in the Nation’s internal development. It features an enlisted Continental soldier armed with a musket and 13 stars representing the original Colonies.
Mintage is limited to 100,000 gold, 500,000 silver, and 750,000 clad coins. The sales price will include a $35 surcharge for each gold coin, a $10 surcharge for each silver coin, and $5 for each clad coin sold. Proceeds from the sales of this commemorative ($12.25 million if all coins are sold) will go to the construction of the National Museum of the United States Army.
The other commemorative will be the 2011 Medal of Honor Commemorative Coin program. This two-coin set features a $5 gold proof and $1 silver proof coin. The obverse of the gold coin depicts the original Medal of Honor designed in 1861 by the U.S. Mint. The reverse design of the gold coin features Minerva, the Roman goddess wisdom and war, who is featured on the medals. Minerva is standing with a shield representing the Army and Navy in her right hand and the Union flag in her left hand. She is flanked by a field artillery cannon and wheel of the Civil War era.
The obverse of the silver commemorative coin will feature the three current Army, Navy, and Air Force medals with their ribbon and the connecting pad featuring 13 stars. Since the Medal of Honor is the only medal not pinned to the uniform, it was important to depict the ribbon that is used to wear the medal around the recipient’s neck. The reverse design depicts an Army infantry soldier carrying a wounded soldier to safety under enemy fire. This image conveys the courage, selfless sacrifice and patriotism of Medal of Honor recipients.
Mintage is limited to 100,000 gold and 500,000 silver coins. The sales price will include a $35 surcharge for each gold coin and a $10 surcharge for each silver coin sold. Proceeds for the sale ($8.5 million if sold out) will be distributed to the Congressional Medal of Honor Foundation to support their educational, scholarship and outreach programs.
It appears that 2010 was better than 2009 as the economy improved. Maybe there will be more of a recovery to help make 2011 even better.
Click on any image to see the larger version.
Coin images courtesy of the U.S. Mint.
Mar 12, 2010 | coins, dollar
Normally, I do not make it a practice to post stories that are sent to me but I think I can relate to what this correspondent wrote. Reader Troy Brown wrote:
Remember the Taco Bell $2 bill story? Well today I was reliving it at Wendy’s with a few Kennedy Half Dollars! After a day of searching for 40% & 90% silver halves I took a few to the gas station then a few more to get some lunch. When I tried to pay for lunch at the local Wendy’s with a few half dollars the casher told me that she didn’t know if they could accept the coins. She then went to the other casher who took the halves to the manager. After a few minutes (and after the food was made sitting in front of me) I was told that they could not accept the money. I asked why and the cashier said because her manager said she couldn’t. With the line growing longer I asked, “so with all the starving people in the world you would rather throw away this food and not take the money?” She replied, “it’s not me, it’s my boss”. They then told me, “take the money to the bank and come back”. Really, you want me to spend my money here? I ended up at KFC where they took the money.
Troy wrote that he called Wendy’s corporate offices who said that they will look into the situation.
Today I went to a Subway sandwich shop near where I am working. When I went to pay for my “Five Dollar Foot-Long” I handed the cashier a five dollar bill and a 2010 Native American $1 coin to cover the sales tax. The cashier looked at the coin and I asked if there was a problem. She said that she cannot take foreign money. I showed her where it said “United States of America” and “$1” on the reverse. She was so afraid of taking the coin that I switched my payment to a $20 bill to pay for my lunch. I will not be calling Subway’s corporate offices. I am not sure Jared is interested!
As part of the Presidential $1 Coin Act of 2005 (Pub. Law 109-145 [pdf]) told the US Mint to research how the one-dollar coins could gain more acceptance and for the US Mint to launch an education campaign along with the new coins. Not only is it clear that the education process failed, but the research lead to same conclusion everyone else has made using reason: if you want the one-dollar coin to be more accepted, stop printing the one-dollar Federal Reserve Note. This is why I wish I could take members of congress out to lunch in the real world so they could see the failures of their actions first hand.
Jan 16, 2010 | books, cents, coin design, dollar, state quarters, technology
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!
Dec 26, 2009 | cents, coins, commemorative, dollar, quarter, US Mint
Around this time last year, I wrote that 2009 would be quite a year. As 2009 comes to an end, I know why I am not a prognosticator. With the down economy, the convergence of so many coin programs, and the performance questions of the US Mint it is difficult to call 2009 a successful year; yet it was not a failure.
Some of the success of this year included the 2009 Ultra High Relief Gold Coin, the District of Columbia and US Territories Quarters, and the Lincoln Bicentennial One Cent program. Although finding the cents and quarters have been difficult to find in change, these new coins had nice designs and was a chance for people to learn about Lincoln’s life and the history of our territories.
As the Lincoln Cent enters its 101st year of production, it will be given a new reverse. The Union Shield was selected as the symbol of a united country. The shield is featured in many of the frescos painted by Constantino Brumidi throughout the US capitol. Brumidi was the Artist of the capitol during Abraham Lincoln’s presidency. The fresco shown here is one of the eight trophy panel from room S-128 (from the Senate side) of the capitol. It was design by Brumidi and painted by English artist James Leslie.
Starting in 2010, the US Mint will begin the American the Beautiful Quarters Program. It will be a program with 56 quarter-dollar coins featuring designs depicting national parks and other national sites. Although this program might be overkill, the designs show that the program has the promise to show new and interesting designs. The first five quarters for 2010 will honor Hot Springs National Park in Arkansas, Yellowstone National Park in Wyoming, Yosemite National Park in California, Grand Canyon National Park in Arizona, and Mount Hood National Forest in Oregon. It will be interesting to see if this program will catch on.
In the second year of the Native American $1 Coin program, the theme for the 2010 reverse is “Government–The Great Tree of Peace.” The reverse design features five bound arrows and the Hiawatha Belt. Hiawatha was the helper to the Great Peacemaker who negotiated peace amongst the Seneca, Cayuga, Onondaga, Oneida, and Mohawk tribes in the area now known as New York state. The alliance was known as Haudenosaunee, the Iroquois Confederacy, and is featured on the reverse. The words “Great Law of Peace” is also on the reverse to honor the constitution that created the confederacy. It is a wonderful design that follows up the great design of 2009.
Continuing the Presidential $1 Coins, 2010 will include coins for Presidents Millard Fillmore, Franklin Pierce, James Buchanan, and Abraham Lincoln. We may see an increase of interest in these coins with the introduction of the dollar honoring Lincoln as we pass the (ho-hum) early 19th century presidents.
Along with the Presidential dollars will be the First Spouse Gold Coins. Along with the presidents will be gold coins to honor Abigail Fillmore, Jane Pierce, Buchanan’s Liberty, and Mary Todd Lincoln. President James Buchanan was not married. His first spouse coin will be a reproduction of the Liberty Head Quarter Eagle designed by Christian Gobrecht minted and issued from 1840 through 1907. The reverse design depicts the future President as a boy working as a bookkeeper in his family’s small country store design by Artistic Infusion Program Associate Designer David Westwood.
To round out circulating coinage, no changes are in store for the nickel, dime, and half-dollar.
Commemorative coins for 2010 will include the 2010 Boy Scouts of America Centennial Commemorative Coin and the American Veterans Disabled for Life Commemorative Coin. The Boy Scout commemorative celebrates the 100th anniversary of the Boy Scouts of America. The program will produce 350,000 silver dollar coins with the $10 surcharge will be paid to National Boy Scouts of America Foundation who issues grants to local council for the extension of scouting in hard-to-serve areas.
The American Veterans Disabled for Life will also produce 350,000 silver dollars in proof and uncirculated version to honor disabled veterans. The $10 surcharge will be paid to the Disabled Veterans’ LIFE Memorial Foundation to support the construction of the American Veterans Disabled for Life Memorial in Washington, DC.
Considering what happened this year, it will be difficult to predict what will happen to the American Eagle Bullion and American Buffalo 24-Karat Gold coins. Because of how the law is written, American Eagle bullion will be produced but we are not sure whether American Eagle proof coins will join them. I hope the proof coins will be produced in 2010, but with the current Mint administration, we will not know until they announce a commitment to their production.
I hope 2010 sizzles as much as 2009 fizzled!
Fresco image from Constantino Brumidi: Artist of the Capitol.
Coin images courtesy of the US Mint.
May 19, 2009 | dollar, US Mint
In a ceremony at the Sherwood Forest Plantation home of John Tyler the US Mint released the Presidential Dollar honoring our tenth president. President Tyler was the first to ascend to the presidency from Vice President after the death of William Henry Harrison.
Since Sherwood Forest Plantation is the private home of Tyler descendants, there was no dollar exchange as there was in the past. Only those invited who are under 18 years old were given a single dollar coin.
Nicknamed “His Accidentcy” by his enemies, President Tyler found himself in office during a contentious time. Aside from his accidental presidency, Harrison was selected to run for president by the Whig Party over Henry Clay and Harrison chose Tyler, a former member of the Democrat-Republican party, as his running mate. Clay originally thought that he would be the ”power behind the throne” of the elderly Harrison, but that was thwarted with the younger Tyler becoming president.
Clay was never friendly with Tyler who adapted Democrat-Republican policies from congress. After wrestling with the Whig-controlled congress over banking issues that included the veto of banking measures, the cabinet Tyler inherited from Harrison quit and Tyler was expelled from the Whig Party. Amongst the policies Tyler adopted from the Democrat-Republicans was to oppose the formation of a central bank. This made the Whigs angry and had them suggest that the lack of a central bank lead to the Panic of 1873.
Tyler and the Whigs sparred for most of his presidency. But there were areas where the Tyler and Whigs agreed on policy. Tyler applied the Monroe Doctrine to the Kingdom of Hawaii and used it to begin what became the annexation of the island nation. Tyler normalized relationships with China by sending diplomatic missions and opening a consulate to maintain the relationship. And in 1842, Secretary of State Daniel Webster negotiated the Webster-Ashburton Treaty with Great Britain that set the borders between the United States and Canada.
Tyler risked war with Mexico by annexing the Republic of Texas into the United States. Texas declared its independence from Mexico in 1836. Tyler, who was looking to show his strength in order to be re-elected, sent newly appointed Secretary of State John C. Calhoun to negotiate the annexation. Tyler was convinced that if the United States was able to annex Texas that he would win the support of the Democrat-Republican Party. Texas was annexed but the Democrats became upset and went on to nominate James K. Polk as their presidential candidate.
To run for reelection, Tyler formed his own party from core officeholders in his administration. As an independent and incumbent, Tyler was not as popular as he thought. When the Whigs chose Henry Clay as their candidate, the race became a fierce contest between Tyler and Clay with Polk being ignored. When it looked like he would not win the election, Tyler withdrew and threw his support to Polk. Three days before the end of his term, Tyler singed the bill annexing Texas.
On March 3, 1845, Tyler’s last full day in office, congress overrode a revenue veto, making it the first time that any president’s veto was overridden.
John Tyler was the first president to have two First Ladies while in office. His first wife, Letita Tyler was the first First Lady to die while her husband was in office. Letita Tyler, already confined to a wheel chair by the time her husband became president, died in 1842.
Tyler met his second wife, Julia Gardiner in 1842. Gardiner’s father, David Gardiner, was killed when the steam frigate, U.S.S. Princeton died when a naval gun exploded on the ship while sailing on the Potomac River. Tyler comforted Julia, 30 years his junior, whose subsequent courtship ending with a wedding on June 26, 1844. It was the first time a president was married while in office.
The release of the Tyler Presidential Dollar also marks the first of the Presidential Dollar series where the honored president has a second generation descendant alive to witness the event. Harrison Tyler, who is 81 years old, is the grandson of President John Tyler. Harrison Tyler resides at the family’s Sherwood Forest Plantation in Charles City, Virginia.
Harrison Tyler was born in 1928 as the sixth child of Lyon Gardiner Tyler and the third child of Lyon’s second wife, Sue. Lyon Tyler, who lived 81 years, was 75 when Harrison was born. Lyon Tyler was the thirteenth child of President John Tyler and the fifth child of Julia Gardiner Tyler. John Tyler, who would father 16 children, was 63 years old when Lyon was born. Harrison Tyler was born 66 years after the death of his grandfather.
Harrison Tyler is an alumnus of the College of William & Mary, as was his grandfather. Harrison also holds a graduate degree from Virginia Tech University. Harrison is one of the founders of ChemTreat, Inc. a company that claims to be “the nation’s largest independent firm dedicated solely to industrial water treatment.”
Coin image courtesy of the US Mint.
Mar 14, 2009 | cents, coins, dollar, quarter
I went to my bank and branches of three other banks to look for rolls of Martin Van Buren dollars and Lincoln Birth and Early Childhood cents. I know that the William Henry Harrison dollars are the current issue, but I was not able to find Van Buren dollars when they were in active release.
One bank I went to had just emptied the cent bags from its coin counting machine. The teller showed me the three bags of cents that will be sent to their contractor to be counted and sent back to the Federal Reserve. They did have Harrison Dollars and some John Quincy Adams dollars, but no Van Burens. A teller in another bank showed me a box of cent rolls they just received from the Federal Reserve. All the rolls had mixed coins, no new cents.
I also asked for District of Columbia quarters. Only one bank had a roll.
I have heard that Lincoln cents have started to be found in pocket change west of the Rockies and DC Quarters in the northern midwest states. But friends living throughout the Northeast Corridor have not found any of these coins in change.
Last year, I found my first 2008 coin in mid-June. Other than the special distribution of dollars and quarters, I don’t expect to see 2009 coins until June or July.
Mar 14, 2009 | coins, dollar, education
After work, I decided to stop at a local coffee shop for a beverage. As I ordered my libation and noticed a $2 bill in the tip jar. The numismatist in me became excited. I reached in to take the note and replaced it with three William Henry Harrison dollars.
The barista watched carefully and noticed the gold-colored coins. She looked at me and asked why I was taking her money and leaving tokens. I pulled one out of the jar and showed her that it was a $1 coin. Apparently, it was the first time she had seen the dollar coin.
I told her about the Presidential Dollar Program and how they were honoring four presidents each year. She seemed interested and looked at the coin and asked who William Henry Harrison was.
If nothing else, the Presidential Dollar Program helped educate one high school student today!
Mar 3, 2009 | cents, coins, dollar, US Mint
I went to the US Mint’s online catalog to see when the Puerto Rico quarters and District of Columbia Quarter first day covers would be released. While scanning down the list of Scheduled Product releases I noticed that the Mint will be releasing a roll set for the Lincoln Cent Birthplace coins. These rolls are scheduled to be released on March 13.
Also in the list are roll sets for the Formative Years, Life in Illinois, and Presidency coins.
With the backlog of cents in the Federal Reserve System preventing these coins from circulating, this is a good idea. It will allow collectors easier access to the coins.
But what of the costs? Rolls of other coins wrapped in US Mint paper are sold with a premium. Rolls of dollar coins in the Mint wrapper with a $25 face value are sold for $35.95. Kennedy Half dollar and State Quarter rolls contain $20 worth of coins (2 rolls) sells for $32.95. How much of a premium will the Mint add to rolls worth 50-cents each?
Would it be possible that the Mint will also sell these coin as part of their Direct Ship program? Under the direct shipment program, the Mint sells 10 rolls of Presidential Dollar coins at face value ($250) in commercially wrapped paper with free shipping. It may not be cost effective for the Mint to do with with $5 worth of Lincoln Cents, but it is an option for them to think about even if they do charge for the shipping.
I may order these rolls, depending on the pricing. It may be easier than waiting for the banks to get these coins.
Feb 17, 2009 | coins, dollar, history
William Henry Harrison was elected the 9th President of the United States in 1840. A retired Major General of the United States Army, Harrison was famous for the Battle of Tippecanoe where he defeated the Shawnee Indians and lead by the brothers of Chief Tecumseh and Tenskwatawa The Prophet preserving the Indiana territory from further attack.
When Harrison won the Whig Party nomination for president, Harrison and his running mate, John Tyler adopted the campaign slogan, Tippecanoe and Tyler too to promote Harrison’s military record and reputation as a battle hero.
Harrison was inaugurated on very cold and wet day in Washington on March 4, 1841, without wearing an overcoat or hat in order to continue to show his toughness. His inaugural speech was the longest in American history, lasting nearly two hours. And this was the short version of the speech after it was edited by Daniel Webster for length.
President Harrison became ill with a cold on March 26 presumably as a result from the inauguration. The illness progressed to pneumonia, pleurisy and other symptoms not understood by the doctors of the period. Harrison died on April 4, 1841, after 32 days in office.
Harrison’s presidency and death was as historic as it was a test of the Constitution. Harrison was the oldest elected president at 68 until the election of Ronald Reagan in 1980. As the first president elected from the Whig Party, his two hour inaugural speech is the longest of any president and his term of 32 days is the shortest in United States history. Harrison was the only president to never appoint a federal judge.
Harrison was the first president to die in office. While we understand the rules of succession today, Harrison’s death caused a constitutional crisis in the young nation. The debate surrounded the interpretation of Article II of the Constitution:
In Case of the Removal of the President from Office, or of his Death, Resignation, or Inability to discharge the Powers and Duties of the said Office, the Same shall devolve on the Vice President, and the Congress may by Law provide for the Case of Removal, Death, Resignation or Inability, both of the President and Vice President, declaring what Officer shall then act as President, and such Officer shall act accordingly, until the Disability be removed, or a President shall be elected.
The vague wording caused a debate as to wether Vice President Tyler would take the oath of office as President or would he become an “acting president.” After debate in congress and by the cabinet, Chief Justice Roger Taney was consulted. Chief Justice Taney said that he thought the constitution meant for Tyler to take the oath of office as president. Based on Taney’s opinion, Tyler was given the oath on April 6, 1841.
As a historical note, Chief Justice Taney was presiding when the Supreme Court ruled on the infamous Dred Scott v. Sanford case in 1857.
This precedence was used in the transitions following the death of seven presidents. The 20th Amendment to the Constitution, ratified on January 23, 1933, codified the line of succession as well as change the inauguration date to noon on January 20th. Rules of succession was strengthened with the 25th Amendment that was ratified on February 10, 1967.
On February 16, the US Mint used 2009 President’s Day to pre-release the Harrison Dollar Coin to an audience in Charles City, Virginia. The coin officially goes into circulation on February 19. The reverse was designed and engraved by Mint Sculptor-Engraver Joseph Menna.
As Harrison was the cause of a number of firsts, the coin honoring his short presidency is the first of the Presidential Dollars to feature the motto In G-D We Trust on the obverse rather than the rim as mandated by law.
Image of William Henry Harrison from the White House website.
Image of the Harrison Dollar obverse courtesy of the US Mint.
Did you know that the Presidential $1 Coins are “vanishing from circulation at an alarming rate” because they are being hoarded by collectors? Did you also know that the Presidential $1 Coins were “highly coveted coins every produced by the U.S. Mint” and that they are “vanishing from circulation at an alarming rate?”
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