Trying something different. Let’s see how it goes…
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The Coin Blog
America’s semiquincentennial is coming up. Or is it a sestercentennial? Or bicentennial-and-a-quarter?
Whatever you want to call it, it’s America’s 250th birthday. Planning commissions are already meeting to figure how to properly commemorate the 250th anniversary of the signing of the Declaration of Independence. If history is any guide, commemorative coins will be part of those plans.
Will it be like 1876, when the U.S. Mint produced an official centennial medal? Or will it be like 1926, when it produced a sesquicentennial commemorative half dollar? Or 1976, when it produced new bicentennial reverse designs for circulating quarters, half-dollars and dollar coins?
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Dr. Martin Luther King, Jr. has his own holiday (although some states have combined it with holidays recognizing people who were antithetical to his beliefs and teachings).
He has his own postage stamps.
He has schools, monuments, songs and in most cities, he has his own street — although those roadways don’t always have the best rep. (As Chris Rock once said: “Martin Luther King stood for non-violence. Now what’s Martin Luther King? A street. And I don’t care where you live in America. If you’re on Martin Luther King Blvd, there’s some violence going down!”)
One thing he doesn’t have is a U.S. Mint-issued coin. Why is that?
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As the tide of the civil war began turning against them and victory by the Chinese Communist Party looked inevitable, Chiang Kai-shek and the Kuomingtang decided to activate their insurance policy: a small island that had only recently been returned to them following Japan’s surrender in World War II.
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I love the level of detail on these 2021 Morgan and Peace Commemorative Dollars. They really look great! So glad I made the investment.
So, there’s a job that just opened up that sounds right up my alley! Notwithstanding my complete lack of qualifications, experience or pedigree, of course…
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Here are some things that are almost always true of the modern Olympic Games:
- They’re really expensive and end up costing the host city a fortune.
- For two weeks, the Olympic Village turns into a scene from Caligula.
- The host country will always issue commemorative coins.
As the 2020(1) Summer games wind down, I thought I’d show off some of my Olympic coins:
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As someone who collected baseball cards during the late 80s/early 90s, there were a few players who were always in demand. Mark McGwire and Jose Canseco. Ken Griffey Jr. Bo Jackson. Todd Van Poppel (no, seriously — one of my friends had a 1991 Upper Deck rookie card for the overhyped prospect who ended up with a career record of 40-52 and a 5.58 ERA and we all thought he had won Powerball).
But the guy everyone wanted a piece of was Gregg Jeffries. A can’t miss prospect for the New York Mets, Jeffries was the first player to win the Minor League Player of the Year Award from Baseball America twice (other players to have won the award include Dwight Gooden, Canseco, Frank Thomas, Derek Jeter, Mike Trout and the only other 2x winner: Andruw Jones). With his versatility in the field and undeniable talent at the plate, Jeffries started his pro career in 1987 with a bang and made an instant impact for the defending champion Mets. The hype train went into overdrive and his rookie cards became the hottest thing since Prometheus brought fire to the people.
So when I got the above Donruss card and noticed the coloring error, I thought I had hit the jackpot. Error cards can be extremely rare and valuable, so the fact that I had one for a player in such demand as Jeffries meant I’d never have to work a day in my life, right?
Obviously, things didn’t work out that way (for me or Gregg, who had a fine 14-year career, including some excellent seasons for the St. Louis Cardinals in the mid-90s, but will never be voted into the Hall of Fame). The value of error cards, and baseball cards as a whole, depend on supply and demand. And once it was clear that Jeffries wasn’t the second coming, demand plummeted and everyone moved on to the next can’t miss kid (Jeter, Chipper Jones, A-Rod… there’s always someone).
Error coins are the same way. Whether or not you have a Griffey Jr. or a Jeffries depends on supply and demand. Here are a few of the error coins I’ve collected over the years:
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When an 1891 contest to determine new designs for the dime, quarter and half-dollar went bust, it played right into Charles Barber’s hands. The Chief Engraver for the U.S. Mint had wanted to design the coins himself, and when the contest failed to yield any worthy designs, he got his wish.
Unfortunately for Barber, his victory would prove to be Pyrrhic. Be careful what you wish for.
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The Liberty Head Nickel has always been a sentimental favorite of mine. And there’s also a fascinating history behind it.
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Success to the United States Token 
1795 Washington Grate Half Penny 
1783 Georgius Triumpho copper 
1795 Liberty and Security Token 
1791 Washington Cent (Small Eagle). 
1793 Washington Ship Half Cent 
“1783” “Unity States” Washington Cent 
“1783” Washington and Independence Military Token 
Washington Double-Head Cent (no date)
This won’t be one of my normal Coin Blog posts. I wanted to show off these coins but didn’t have too much to add that hasn’t already been written by others.
Anyway, I really like these George Washington colonial coins and I’m glad I made the investment in them. Understandably, Washington was a rock star after the successful conclusion of the Revolutionary War, and there was a huge demand for merchandise bearing his image — think Notorious RBG (R.I.P.) but for the 18th and 19th centuries.
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In general, I try to avoid coins issued by private mints. They tend to have very little numismatic value and can even be of dubious legality. In fact, they aren’t legally “coins” since they aren’t issued by a government. Instead, they are often marketed as “rounds.”
But when the private Washington Mint released this silver round in 2000 amidst the uncertainty over who won that year’s Presidential election, I jumped at the chance to buy it. For one thing, I’ve always been a sucker for political-themed exonumia – especially Hard Times Tokens.
For another, this unique two-headed coin with a bust of Al Gore on one side and George W. Bush on the other with each man named as the 43rd President of the United States really captures just how bizarre that entire period was. Between the retracted concessions, hanging chads, organized “riots,” court battles and hand recounts, it seemed like every day provided a new twist and turn as we tried to determine just who had actually won Florida – and therefore the election.
Apparently, the Washington Mint had already been working on an inauguration medallion and had prepared busts of both Gore and Bush. Not knowing which one they would get to use, and inspired by a Tonight Show sketch shortly after Election Day about ways to determine the winner, the Mint got the idea to make the two-headed coin. They even sent two coins on Nov. 13 to Jay Leno to use for a possible skit. Ultimately, after another month, Gore conceded following the Supreme Court’s decision stopping Florida’s recount.
I figured the coin was relevant now since this is the first time since 2000 where one major-party candidate challenged the outcome of a Presidential race. This time, however, enough states have certified their returns to give one candidate a clear majority in the Electoral College, and there have been multiple lawsuits filed in several states instead of just Florida. Those lawsuits aren’t going well, though, which probably explains why there haven’t been any two-headed Joe Biden/Donald Trump coins.
When it comes to numismatics, one of my biggest regrets is not buying more gold coins in the early 2000s.
Counterpoint: For most of that time I was either a poor post-undergrad, a poor law student, or a poor post-JD. Buying gold probably wouldn’t have been a good use of my money — at least not compared to rent, utilities and food.
The price of gold tends to move inversely to the overall health of the economy — going up when the economy is poor as investors like to use it as a hedge against falling stock prices, weakened dollars, inflation, and all sorts of other economic markers, and going down when those markers are strong. Thanks to the 1990s economic boom, gold prices were low throughout most of that decade leading into the early 2000s. In fact, things were so great that the price of gold had cratered to around $253 per ounce in mid-July 1999 — the lowest it had been since 1979 (a year later, I nearly bought a beautiful Saint-Gaudens double eagle for $300, but decided I couldn’t spare it). But like any sustained period of economic euphoria, you never see the crash coming until it’s too late.
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UPDATE (12/17/2020): The House bill was passed via unanimous consent in the Senate. Assuming the President signs it, looks like we’ll be getting those new Morgan and Peace Dollars after all.
UPDATE (01/05/2020): The President signed the bill into law.
I attended two coin conventions in 2019, and one thing they both had in common was that there was no shortage of Morgan and Peace Silver Dollars available from the many vendors on the bourse. There was such an abundance that Scrooge McDuck could have bought every single silver dollar with whatever pocket change he happened to have (assuming he wears pants – Donald doesn’t, so why should he?), loaded them into a wading pool and gone for a dip.
By this time next year, there could be even more Morgan and Peace dollars hitting the market — provided that Congress can get its act together.
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There are no shortage of myths when it comes to the Confederate States of America. So it should come as no surprise that it’s the same story when it comes to Confederate coinage.
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About Me:
- Former Lawyer.
- Current Journalist/Writer/Editor.
- Author of "Nixon in New York: How Wall Street Helped Richard Nixon Win the White House," published in 2018.
- Husband, father and dog-lover.
- Pittsburgh Steelers fan. Manchester United supporter.
- Chicago via Pittsburgh, New York City and several others.