While researching my recent post about the Harry Stillwell Edwards connection to the 1925 Stone Mountain Memorial Half Dollar, I came across a few other tidbits that I want to share:
Tidbit #1Though not referenced in the enacted legislation for the coin, the Federal Reserve Bank of Atlanta played a key financial sponsorship role in the coin. Edwards and his friend Joseph A. McCord (Chairman of the Board, Federal Reserve Bank of Atlanta) devised a plan for the half dollar (prior to its approval) in which the Federal Reserve Bank would pay the US Mint for the Stone Mountain half dollars that were ordered by the Stone Mountain Confederate Memorial Association ("SMCMA") and thus ensure the Mint would not be liable for coin production expenses.
This proved very beneficial when the coin faced opposition within the US Treasury (especially from Mary O'Reilly, Assistant Director of the Mint). O'Reilly's initial opposition turned to support once she learned that the Association's coins would be paid for in cash - no credit. (It should be noted, this arrangement did not guarantee that no coins would be returned to the Mint; the SMCMA ultimately returned 1 million of its coins to the Mint to be melted.)
Tidbit #2The 1921 Alabama Statehood Centennial Half Dollar had a role in inspiring the Stone Mountain half dollar. Mrs. Samuel M. Inman, a director of the SMCMA, was given one of the Alabama coins in 1923 and it sparked a discussion between Inman, the Association and Edwards about the feasibility of a Stone Mountain coin. The discussions led to formal plans/proposals for a SMCMA commemorative coin.
Tidbit #3Original mintage volume discussions considered requesting 200,000 coins. A subsequent draft proposal requested 10 million coins; ultimately, a formal request for 5 million half dollars was made. (Try as they might, the SMCMA couldn't sell its full 5 million coin authorization - the coin had a net mintage (after melting) of ~1.3 million or ~26% of its authorization. Consider how poor things would have looked if the Association had been given 10 million coins!)
Tidbit #4Edwards, Gutzon Borglum (the original Memorial designer/sculptor) and several members of the SMCMA met with US President Calvin Coolidge to discuss the coin proposal. Coolidge was receptive and supportive of the coin proposal and did not express opposition. The presidential support was one less obstacle for the SMCMA! (As I've discussed previously, the Stone Mountain Memorial Half Dollar legislation sailed through both chambers of Congress.)
1925 Stone Mountain Memorial Half Dollar
For other of my posts about commemorative coins and medals, including many more about the Stone Mountain half dollar, see:
Commems Collection
Posted 12/04/2025 09:13 am
