The year 2020 has certainly been challenging, but out of this troubling time has come a wealth of numismatic opportunities. To fill you in on everything that has taken place during 2020, we have put together a retrospective featuring our hosts Rick Tomaska and Jack McNamara.
In terms of the Franklin and Kennedy Half Dollars, there have been a handful of events that have redefined them. For one, Rick Tomaska has released his collaboration holders with NGC. These exclusive holders, known as the We The People Franklin Half Dollar and Aspiration Kennedy Half Dollar holders, are meant for only the finest Franklin and Kennedy Half Dollar examples. To guarantee the quality and eye appeal of these coins, Rick Tomaska will personally view each coin before it is holdered.
2020 has been particularly monumental for the Kennedy Half Dollar, as Rick and Jack were able to acquire a government sealed bag of 1964-D Kennedy Half Dollars dated March 19, 1964. With the release of the Kennedy Half Dollar taking place five days later, on March 24, 1964, this bag of Kennedys is the only one in numismatic history to be pedigreed as First Day of Issue. A find like this is unlikely to take place again.
This year has also been undeniably memorable for America’s favorite Silver Dollar, the American Silver Eagle. From the highly anticipated new design announcement to the Emergency Production issues and the End of WWII release, the ASE issues released in 2020 are sure to be remembered throughout American numismatic history.
Rick Tomaska’s Lifework Manifested in Exclusive NGC Holders
The exclusive We The People and Aspiration holders awarded to Franklin and Kennedy Half Dollars by NGC have long been the brainchild of coin expert, and numismatic author, Rick Tomaska. Tomaska has made the study of Franklin and Kennedy Half Dollars his lifework in numismatics. His groundbreaking research into the series prompted NGC and PCGS to adopt the FBL, or Full Bell Line, designation for Mint State Franklins. The FBL designation indicates the most fully struck Mint State Franklin Half Dollars that showcase uninterrupted horizontal bell lines along the bottom of the bell. Additionally, Tomaska has authored numerous books, including A Guide Book of Franklin & Kennedy Half Dollars.
When asked to elaborate on why the WTP and Aspiration holders are necessary, Rick explained, “There are such tremendous differences in eye-appeal and quality between coins of the same grade, whether they are 65, 66, or 67. The Aspiration and We The People holders are reserved for only the most exceptional examples for the date and grade.”
As a result, Tomaska believes that many Franklin and Kennedy Half Dollars in these grades are far rarer than the PCGS and NGC population numbers suggest. To create a more accurate representation of truly astonishing Franklin and Kennedy Half Dollars, Tomaska teamed up with NGC to create the We The People and Aspiration holders. These holders were created under the stipulation that Rick Tomaska would personally inspect each coin, with only the highest quality examples qualifying for the holder.
As a true testament to the quality of these We The People and Aspiration Franklin and Kennedy Half Dollars, NGC has created separate population tables just for WTP and Aspiration examples. These separate population numbers create a clear divide between the quality of a standard Franklin or Kennedy Half Dollar and a We the People or Aspiration Franklin or Kennedy Half Dollar. According to Tomaska, depending on the date and grade of the coin, it is estimated that population totals for We The People and Aspiration Franklin and Kennedy Half Dollars will only make up between 5% - 25% of generic PCGS and NGC Mint State totals.
The discrepancy in numbers when comparing standard Franklins or Kennedys to WTP Franklins or Aspiration Kennedys is simple. As Tomaska puts it, “For one, many of these coins have very unattractive toning or spotting. Secondly, as we all know, grading is on a scale. Not all examples certified in MS65, MS66, or MS67 are going to be equal in quality or eye appeal. Again, I reserve the We The People and Aspiration holder for examples of the highest quality and eye appeal for their date and grade.”
In Rick’s own words, “I believe the best legacy I could leave the collecting community is to earmark those Franklin and Kennedy Half Dollars that I know, from my experience, are the most exceptional for their date and grade. Fifty, 100, 200 years from now, collectors of future generations who own a Franklin Half Dollar in a We The People holder or a Kennedy Half Dollar in an Aspiration holder, will own a coin that is the acknowledged gold standard for the series. That is what the NGC We The People and Aspiration holders represent.”
The Kennedy Discovery of a Lifetime
In 2020, more than 56 years after the Kennedy Half Dollar’s official release, Rare Collectibles TV made an immense numismatic discovery like never before. This unprecedented finding was a government sealed bag of 1964-D Kennedy Half Dollars dated March 19, 1964. As Rick Tomaska put it, “this is arguably the most important half dollar discovery in the 20th century, perhaps even in the history of the U.S. Mint, which dates back to 1794.”
With over 156,000,000 1964-D Kennedy Half Dollars struck, this discovery may not seem particularly groundbreaking. However, upon the release of the Kennedy Half Dollar, everyone in the nation was clamoring to have their own 1964 Kennedy. The coin was a national phenomenon. As a result, it seemed that every single bag of the Kennedy Half Dollar had been opened, distributed, and circulated. Rick even spoke on his feeling of disbelief when hearing of this unopened bag, “Needless to say, we were quite skeptical. We needed to send this bag to the Numismatic Guaranty Corporation, NGC, which is the leading numismatic grading company in the country. They needed to confirm if this bag truly was what it appeared to be.”
Rick remembers calling the Chairman of NGC, Mark Salzburg, and the President of NGC, Rick Montgomery, “They were as excited and in disbelief as we were.” Eventually, NGC received these coins and Mark Salzburg authenticated the tags, bag, and seals. Shortly after, the 2,000 1964-D Kennedy Half Dollars in this bag were graded and placed in holders with a label indicating their First Day of Issue pedigree.
The likelihood of locating another authentic bag of unopened 1964-D Kennedy Half Dollars is so improbable that Rick suggests that this is a “true Halley’s Comet event. Except the Halley’s Comet appears once every 76 years, this one first day of issue bag is a once in forever event. There are only 2,000 of these Kennedy Half Dollars and that is it. There will never be anymore because 2,000 examples are all that exist.”
When asked about his first thoughts upon hearing of the potential acquisition of this 1964-D Kennedy Half Dollar bag, Rick adamantly stated, “I had to buy this bag. The incredible story of this bag needed to have its own chapter in my upcoming encyclopedia of Franklin and Kennedy Half Dollars.”
Rick left one final sentiment for coin lovers everywhere, “I have been a specialist in Kennedy Half Dollars since the 1980s and have written several books on them. This 1964-D First Day of Issue Kennedy Half Dollar is of such historical importance that we presented one to the Smithsonian Institution. If you never buy another Kennedy, if you have never considered purchasing a rare numismatic coin before, I cannot think of a more historic and important coin. On top of that, it is available at a collector-friendly price point that doesn’t necessarily reflect the immense magnitude of its rarity and significance.”
If you want to learn more about this legendary sealed bag of Kennedys, Rare Collectibles TV has an exclusive video of Mark Salzburg opening it on our YouTube channel. Don’t miss seeing this once in a lifetime event.
A New Era for the American Silver Eagle
About a year ago, the United States Mint revealed that 2020 would be the final year that John Mercanti’s Heraldic Eagle would be displayed on the reverse of the ASE. With the ongoing pandemic still being prevalent across the country, we have finally confirmed that this historic design will begin being phased out in 2021. This beloved design has been showcased on the ASE since the coin series began in 1986, making the decision that much more difficult.
Jack McNamara expressed his mixed feelings on the ASE receiving a new design, “With 34 years of mintage, many people, including myself, have grown to admire this design and are sad to see it go. The only emotion that can match the sadness of losing this iconic design, however, is the excitement of a prospective new design that will come to define the American Silver Eagle in years to come.”
In June, there were 39 proposed reverses for the American Silver Eagle that were released to the public on the United States Mint website. As permitted by Public Law 99-61, commonly referred to as the Liberty Coin Act, these coin designs each displayed an eagle along with the inscriptions “UNITED STATES OF AMERICA,” E PLURIBUS UNUM,” “ONE DOLLAR,” AND “1 oz FINE SILVER.”
This selection of 39 designs stunned the numismatic world with its vast array of beauty. As you would expect, most of these designs were rife with American symbolism whether it was a bundle of arrows, an olive branch of peace, or an oak leaf. Although the subject matter of these coins did not vary much, the styles which were incorporated stretched across a spectrum. From highly detailed photorealistic renditions to simplified caricatures and classic heraldic eagles, these designs showcased the artistic excellence that we have come to expect from our country’s coinage.
It was not until October 1, 2020, that the United States Mint unveiled the new design that will be exhibited on the reverse of the ASE. This new design, created by Emily Damstra, displays an American eagle with flared wings and an oak branch in its talons as if it is returning to fortify its nest. As America’s national tree and a universal symbol of strength, the oak branch in this depiction represents a reinforcement of American values through the strengthening of the home.
In a closing statement about the American Silver Eagle’s new reverse design, Jack McNamara said, “Emily Damstra really outdid herself with this stunning design. The artistry and symbolism expressed in this design are nothing short of American excellence, and I, for one, am excited to see it for many years to come.”
Emergency Production ASEs Breathe Life into Numismatics
During the early years of its production, the American Silver Eagle shifted from one U.S. Mint branch to the next. The first Mint branch to produce the American Silver Eagle was the San Francisco Mint, which struck the coins from 1986 to 1992. From 1993 to 2000, it became the Philadelphia Mint’s exclusive responsibility to produce American Silver Eagles. Beginning in 2001, the West Point Mint assumed full responsibility for the production of the monumental American Silver Eagle series.
However, to protect Mint employees from being exposed to COVID-19 during the coronavirus pandemic, an emergency closure of the West Point Mint occurred in April of 2020. This closure forced the production of circulation American Silver Eagles to transfer to the Philadelphia Mint for a short period of time. From April 8th to April 20th of 2020, 240,000 American Silver Eagles were struck at the Philadelphia Mint. These limited ASE’s do not depict a mintmark on the coin and will be labelled as “Emergency Production” by NGC and “Emergency Issue” by PCGS.
With a minuscule mintage of only 240,000 coins, these 2020 Emergency Production American Silver Eagles struck at the Philadelphia Mint are among the lowest mintage ASE’s ever produced. Mintages this low are generally only seen with Burnished ASE issues and special release issues such as the 1995-W American Silver Eagle and the 2019-S Enhanced Reverse Proof American Silver Eagle.
That’s not all though, due to overwhelming demand for precious metal coins, the San Francisco Mint has been striking their own limited production 2020 (S) Emergency Production ASE. Although this issue has a mintage of 1,000,000 coins, only examples sent directly to the grading service from the US Mint can receive this highly sought-after pedigree. That means that only a fraction of the mintage of these rare coins will be classified as the exclusive Emergency Production pedigree.
When asked about these Emergency Production American Silver Eagle issues, RCTV Host and Senior Coin Buyer Jack McNamara enthusiastically replied, “This is a tremendous opportunity for collectors and for numismatics as a whole. With so many new, rare issues of the American Silver Eagle coming out, I believe that coin collecting is being reinvigorated and a whole new collector base is starting. As for American Silver Eagle collectors, they know as well as I do, these coins are necessary additions to their collections.”
As 2020 comes to a close, we look back and see a variety of challenging times for Americans. However, during these difficult times, the U.S. Mint has managed to bring collectors a silver lining of numismatic opportunity and growth. While the 2021 U.S. Mint production schedule has yet to be released, Rick and Jack are excited to see what next year will bring for numismatics. Rare Collectibles TV promises to continue providing our viewers with the finest in rare, collectible coins and historic artifacts each week. From Rick, Jack, James and the Rare Collectibles TV family, we wish you good health and prosperity in 2021.
