When those familiar with the classic US commemorative coin series think about coins that were authorized with large maximum mintages, the coins for the World's Columbian Exposition (Five million), the Stone Mountain Memorial (Five million) and the Oregon Trail Memorial (Six million) come quickly to mind. But, there might have been another with a mega mintage.
During the 69th Congress, companion bills were introduced in the House and Senate that called for a new half dollar to commemorate "the services, sacrifices, and patriotism of the American women of all wars in which the United States has participated, which was the inspiration of their sons and daughters in carrying on their part in the various conflicts," The Senate bill was introduced in March 1926, the House bill followed nearly a year later in January 1927.
The bills called for up to five million half dollars of standard specifications to be struck "at the mints of the United States." Translation: coins could be struck at Philadelphia, Denver and San Francisco if such was asked for by the coin's sponsor - the War Mothers Memorial Association of New Mexico. No time limit for the coins was specified in the bills nor were any parameters/restrictions placed regarding the number of coins that could be ordered at any one time. The language of the bills was closely based on that which was approved for the Oregon Trail Memorial Association and its coin.
Each bill was referred to its respective committee, the Committee on Banking and Currency in the Senate and the Committee on Coinage, Weights, and Measures in the House. Neither committee reported their chamber's bill out for a full vote, and each, therefore, died for lack of action. Bills for five million commemorative medals were subsequently introduced in the 69th Congress, as well as in the 70th and 71st Congresses; none were passed.
If either coin proposal had been approved, I imagine its marketplace path would have paralleled that of the Oregon Trail Memorial half dollar with coins from its vast authorization being requested for 10+ years with increasingly smaller mintages over the years as collectors tired of the repeated releases. Coins would have been struck at all of the Mint's facilities of the time and yesteryear's collectors (and today's!) would need to chase PDS sets of the commemorative.
I can't help but to think that a coin proposal for a more moderate mintage would have been better received and more likely to have been passed. Yes, the recent success of the mega mintage Stone Mountain and Oregon Trail coins seemed to suggest that large coin mintages were acceptable to Congress, but concerns at the Treasury Department were growing and such large volume requests for souvenir coins did nothing to help quell them. Sometimes, you really need to "read the room" if you want to succeed.
Approved Mega Mintage Classic Commemorative Coins
Read More: Commems Collection
Posted 12/24/2020 12:43 pm
with Coinfrog, always a good read. Thank you!
