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100th Anniversary of Boy Scouts of America Coin Authorized

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Pillar Of The Community
United States
5970 Posts
 Posted 05/20/2008  4:09 pm  Show Profile Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
Well, I don't believe ANY of our "commemorative" coins have ever been issued for common circulation at least in "modern times". And if it's a Silver Dollar, it'll sell for 50x the value of a dollar of course including the surcharge....exactly the same thing as the "Bald Eagle commemorative" for this year....the money should go to help a deserving program/foundation like that I think.....forgive me for not reading the legislation on it yet, I haven't had the time.....i was only theorizing anyway.
For instance, if "every" Scout leader wanted one.......they'll be "sold out" in about 4 hours or two weeks or within a month or something like that.......if people want them "after" they're sold out and 350,000 have been sold.....they then become more valuable......simple as that.
To me, the special thing about "Commemorative" coins IS the low mintage number.....therefore the potential value, logically, could be really really nice on "some" of the commemeratives, if they are "highly sought after" and in popular demand.......the fact that NOT everyone can have one......I guess...can be the attractive thought to getting one or two.
What will the composition and size of this coin be ?
Edited by eaglefoot
05/20/2008 4:31 pm
Formerly nancyc
Australia
3633 Posts
 Posted 05/20/2008  4:58 pm  Show Profile Bookmark this reply Add Nevol to your friends list Get a Link to this Reply
The Australian 50 Scout coin appears on P14 of this document:

http://www.downies.com/catalogues/0...complete.pdf

Some other Scouting commems here also:

http://www.downies.com/catalogues/0...complete.pdf

A friend is a present you give to yourself.

Nancy
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 Posted 05/20/2008  5:03 pm  Show Profile Check biokemist6's eBay Listings Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply
Welcome Bill Ragsdale,
I am unaware of your numismatic background so I will try to inform you of a few items and assume you know nothing about numismatics. Commemorative coin programs started in the US with the Chicago Worlds Fair/Columbian Exposition of 1892-3. Since that time, all commemorative programs have been fundraising vehicles designed to produce noncirculating legal tender coinage and they have always been sold for more than face value. It may only be a $1 coin but it will contain ~3/4oz of silver so its metal value obviously exceeds its face value by a significant amount. The selling price will be ~$35-40(based on current commemorative sale prices). The mintage of commemorative programs is always limited by numbers and time- they have a maximum mintage deemed by the legislation(always in the hundreds of thousands, not millions) and they cannot be minted past the calender year in which it is issued.

True, not every current Boy Scout will be able to purchase one due to coin collector demand not to mention demand from now adult Boy Scouts(I fall into both groups, collector and former Scout) but the commemorative program is not set up to accommodate that kind of demand and the odds of the Boy Scouts getting a circulating commemorative coin(much like the state quarters) are about zero unfortunately. As harmless and wholesome as the Boy Scouts are, there are still political implications and nothing that is not completely neutral will ever be on a circulating coin- that is just the reality of the matter. Eight members of the House even voted against this simple legislation.

Try to look at the positives- it will expose a whole new generation of Scouts to the world of numismatics, I can see badge workshops in conjunction with coin shows all over the country. The public as a whole may not necessarily be exposed to the coins but I guarantee that the program will raise the national profile of the Boy Scouts as an organization. You seem to think that $3.5 million to the BSA is a bad thing and will not have any benefit to local groups but I have to think that there will be some trickle down in addition to a renewed awareness of BSA in general.
ANA R-3151318
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 Posted 05/22/2008  01:20 am  Show Profile Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
Bill, I don't think anyone disrespects your opinion of the issuance of the BSA 100th $1 coin. I think it's more of a matter of the purpose of the coin and where the surcharge ("profits") of the coin's sales should go.

First, a lot of us in Scouting (many here on this list) lobbied hard over the past two-plus years to get a BSA-100 commemorative coin authorized by Congress, no easy task. We are very happy to get ANY BSA-100 coin authorized since Congress doesn't approve just any old cause to come along. It's a convoluted process but we'll take what we can get and it doesn't matter who gets the credit as long as a coin which can perpetuate the BSA for millennia is created (coins last a long time; I have Roman coins going back 2K years).

Second, it's a collector coin minted for a special occasion, not a coin minted for circulation, vis a vis the latest Presidents coin series in which 350 MILLION of each are currently being minted every four months; intended for circulation, the President series hasn't made the grade and the dollar coins aren't going into circulation. Sure, it would be nice if millions of BSA 100 coins were issued but the US Mint and Congress doesn't work that way when it issues commemorative coins.

Third, it's a coin which will not only keep its value, it will rapidly appreciate: "A Scout is Thrifty". With only 350K minted and the numbers already in demand (self included) as indicated by this group, the Mint will have no problem meeting the demand. This is in contrast (putting on my numismatist hat) to recent commemoratives such as the 2007 Jamestown issue (500,000 coins) which, at best is valued at only $37 and was a really hard sell; I don't know if the full issue was sold or if the surplus was melted. I don't believe this will be a problem with BSA-100. Agreed, this does not financially assist BSA after the first purchase from the mint. But it does perpetuate the BSA through protection of collectible coins.

Fourth, like most or all recent commemoratives, surcharges go to the celebratory; the gain (surcharge) in this instance will go to the Boy Scouts of America at the National level. I have no problem with this since this filters down to the Unit and individual Scout (or Cub or Crew or Explorer) level through Professional and Volunteer services (volunteer training alone costs millions of dollars per year - spoken as a former District Training Chairman).

I fully appreciate where you're coming from: the goals of the Boy Scouts of America are toward the individual youth for whom we target all our activities, energies, and of course money to instill in them citizenship, character, and physical and mental fitness. It would be facile if we could see direct financial benefits to individual Units and Scouts who were to receive this surcharge directly but this would be in contravention of the stated policies of Scouting for members to earn their own way (as opposed to receiving donations). I can't think of any other means of minting a BSA-100 coin which would recognize the Boy Scouts of America's 100th anniversary while at the same time remaining within BSA's goals and policies.

73 and Always Yours In Scouting,
Fred Stevens K2FRD
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 Posted 05/22/2008  01:43 am  Show Profile Bookmark this reply Add Mike to your friends list Get a Link to this Reply
Fred, great to hear that the Scout Coin has been authorized! It's also nice to see you posting albeit only for a short time as you explained. I have been a bit of a ghost around here myself for many reasons, mostly health related. How about dropping me a PM or perhaps I can call you and we chat for a bit. Let me know. I want to see how your treatments are going. Peace my friend. Mike
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 Posted 05/22/2008  10:28 am  Show Profile Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Well stated, Fred!
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Pillar Of The Community
823 Posts
 Posted 05/24/2008  12:20 am  Show Profile Bookmark this reply Add HOLLYWOOD to your friends list Get a Link to this Reply
Thats cool that they will commemorate the boy scouts/eagle scouts I was one too. 100yrs of history
Valued Member
United States
189 Posts
 Posted 05/24/2008  01:55 am  Show Profile Bookmark this reply Add lucifer to your friends list Get a Link to this Reply
I am proud to say I just made Eagle last year, about a month before I turned 18. I know I will be buying a few of these for myself and a few for my troop to give out to the future Eagle Scouts our troop produces!
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 Posted 05/24/2008  1:14 pm  Show Profile Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
Hollywood and lucifer, your accomplishments earning the Eagle rank you will find, if you haven't already learned it is a major life accomplishment which will follow you forever. I feel deeply saddened when I see a promising Scout fall victim to High School peer pressure to abandon pursuit of Eagle rank to instead become a sports hero. Sports celebrations end on graduation day following which very few in the real world ever care that one was once a school sports figure while that Eagle rank opens doors and raises eyebrows forever.

Good work and congratulations!

Fred

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United States
245 Posts
 Posted 05/24/2008  3:09 pm  Show Profile Bookmark this reply Add JohnAP to your friends list Get a Link to this Reply
Morgan Fred,

My hat's off to you. Best wishes, prayers, and all the best thoughts to you.
Pillar Of The Community
United States
995 Posts
 Posted 06/27/2008  5:19 pm  Show Profile Bookmark this reply Add Brucec to your friends list Get a Link to this Reply
Well have to not miss that one anyone know when it will be out not until 2009 I guess.

I was also a Cub Scout, Boy Scout Retired from the USMC, then was a boy scoutmaster or leader for 12 years.

So this coin will mean a lot to me will watch for it and think I will get one and send it to each boy scout that got his eagle rank while I was the scoutmaster.

Edited by Brucec
06/27/2008 5:21 pm
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 Posted 06/27/2008  9:30 pm  Show Profile Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
Brucec, the enabling legislation for the BSA 100th coin states that "The Secretary may issue coins under this Act only on or after February 8, 2010, and before January 1, 2011.". http://www.opencongress.org/bill/110-h5872/text .

What I do not know is when the Mint will open its doors to order the coins. You can bet the farm that with only 350K to be minted, there is gonna be a major rush to order them. We will need to keep a sharp eye out for the date for when they can be ordered. I also suspect there will be severe restrictions on the number which any individual can order (say, only one or two). And, betting the same farm twice, there is gonna be a very narrow window of opportunity to order them; they will be sold out within days.

Also, I suspect Scouting Magazine will have a note on the coin's legislative passage in the next month or two. (Note: one needs to be a registered adult leader in BSA to receive Scouting Magazine.) For non-Scouters, I will post any such article in this topic when it is published.

YIS,
Fred
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United States
240 Posts
 Posted 06/27/2008  11:29 pm  Show Profile Bookmark this reply Add Dillon to your friends list Get a Link to this Reply
thats great news! I am involved in boyscouts, and am now working for my eagle scout! too bad they wont be let out in normal circulation :(
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 Posted 06/28/2008  7:50 pm  Show Profile Bookmark this reply Add Morgan Fred to your friends list Get a Link to this Reply
Whoops! No I won't publish any article in Scouting Magazine I find on the BSA 100th coin. First, the magazine is a print periodical and my scanner is back in my storage shed. Second, there's copyright issues. What I'll do is submit a precis of any such article.

Fred
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United States
354 Posts
 Posted 06/29/2008  3:18 pm  Show Profile Bookmark this reply Add mmerc20 to your friends list Get a Link to this Reply
I started in scouting as a Tiger Cub back in 1984 and worked my way up to Eagle scout getting that in 1994. I would love to have one of these coins and perhaps get one for my Grandfather who was an Eagle scout as well.

Mike
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