Commems Collection Classic: 1946 Iowa Statehood Centennial - Pricing Justification

A few years back, I posted about the sales approach used for the 1946 Iowa Statehood Centennial Half Dollar (read it here: 1946 Iowa Statehood Centennial - Sales And Distribution). In-State residents were charged $2.50 per coin and out-of-state buyers being charged $3.00 per coin to cover postage and the additional handling; an initial limit of one coin per person was set though later lifted.

With this post, I'm offering a "Saturday Supplement" to discuss some reasons I found that were given for the 5x or 6x face value price being asked for the coins being viewed as reasonable. The Iowa Centennial Commission believed its higher-than-typical issue price for its coin was justified because:

1. Commemorative coins were highly prized by collectors.

2. The 1946 Iowa half dollar was the first US commemorative coin to be struck since 1939 (when the final issues of the Oregon Trail Memorial and Arkansas Statehood Centennial programs were minted).

3. The US Treasury was against the issue of commemorative coins and would likely continue such opposition regarding future coin proposals.

4. It took significant efforts by the coin's supporters to overcome the Treasury's roadblocks and get the coin minted.

5. With a mintage of "just" 100,000, the Iowa half dollar was considered to be in small enough supply to ensure that it would be viewed as a true collector's item.

1946 Iowa Statehood Centennial Half Dollar


Ultimately, the Iowa Commission was able to distribute the coin's entire mintage via direct sales and its bank network, with no coins being returned to the Mint to be melted. It appears the Commission's pricing rationale was sound.


For other of my posts about commemorative coins and medals, including more about the Iowa half dollar, see: Commems Collection