How Commemorative Coins Returned to the Mint in 1982
While most Americans know the U.S. Mint for the circulating coinage that occupies their wallets, another important function of the Mint is striking commemorative coins. While technically legal tender, commemorative coins are produced primarily to celebrate individuals, events, places, and institutions important to the United States. In addition to their celebratory nature, commemorative coins also help raise money to support historical preservation efforts. Since the modern commemorative coin program began in 1982, over $500 million dollars have been raised to help build museums, maintain national monuments, and support various programs.
However, there was a period of nearly thirty years when commemorative coins were not struck by the U.S. Mint. Since the 1930s, the U.S. Mint had come under criticism for issuing commemorative coins that were seemingly endless in their production. For example, the Oregon Trail Memorial Half Dollar was struck for eight different years over a fourteen-year span. Compared to most modern commemorative coins that are struck for only a single year, the length of production for the Oregon Trail commemorative seems over the top. The most excessive commemorative production took place in 1936, when 19 different commemorative half dollars were struck. A bloated market and dwindling interest among collectors led to President Eisenhower vetoing the three commemorative half dollars proposed in 1954.
For twenty-eight years, the U.S. Mint did not strike a single commemorative coin. Until the commemorative coin program was reinstated by Eleventh Chief Engraver of the U.S. Mint, Elizabeth Jones. On December 23rd, 1982, to celebrate the 250th anniversary of George Washington’s birthday, the U.S. Mint struck a commemorative Half Dollar depicting our nation’s first president. Given the incredible influence Washington had on our country’s development, from leading the Continental Army during the Revolutionary War to setting the precedents that other presidents would later follow, it was only natural that his birth would be commemorated.
The George Washington 250th Anniversary Half Dollar depicts the president during his time as the general leading the Continental Army on the obverse, while the reverse depicts his home, Mount Vernon. Taking into account the low demand for commemorative coins prior to their hiatus, the Mint only struck this coin for a single year, ensuring demand would be high among collectors. Other commemorative coins have followed this example, making them enticing treasures for numismatists to seek. One of the most notable coins struck this year is the End of World War II 75th Anniversary American Silver Eagle. Not only is it the very first Silver Eagle struck with a privy mark, it is also incredibly rare, with only 75,000 examples struck. When the Mint first offered this coin on its website, it sold out within two hours.
Today, commemorative coins in both gold and silver are remarkable collectible items, whether you are seeking a rare numismatic treasure, or are looking for a specific coin that celebrates something near and dear to you. At Rare Collectibles TV, we offer a wide range of stunning commemorative coins in the finest grades possible.
