Commems Collection Modern: 1980-84 American Arts Gold Medallions

US Gold Prices: 1980-1984

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Though there was a positive bump in 1983, the general trend in average gold prices over the course of the American Arts Gold Medallions program was down. Gold had an average price-per-ounce of $615 in 1980, but the average price fell to $361 for 1984.

Year        Annual Average Price
1980                $615
1981                $460
1982                $376
1983                $424
1983                $361

US Average Annual Gold Prices: 1980-84



Many investors avoid precious metal purchases when prices are trending down over extended periods and invest their money elsewhere (though such trends could represent a great time to buy and take advantage of dollar cost averaging!). It does not appear, however, that declining spot prices are enough to explain the poor overall sales of the series' medallions. I "put my money" on the popularity/name recognition of the subject artist and the medal vs. coin factors as bigger drivers. (Just my opinion, your mileage may vary.)

Wow - this is an epic thread filled with history on a subject I never even knew existed. You undertook an exhaustive effort (literally) to pull this together commems for which I am very thankful.

I need to read the thread again - many questions in my mind so far.

I was unaware of these medals and find them very interesting. Thank you for sharing them along with their history. It has been a fantastic journey!

For what it is worth, and I always like to give credit where credit is due, I never gave them much attention until commems shined an informative light on them.

Truth. There are certainly forces within CCF conspiring to make me interested in Errors & Varieties.

I know you you feel - While varieties were a bit on my radar before, at least for major ones like the the 1955 DDO and 1922 No D cents, errors were something I previously would take a quick glance at and then move on. While I still don't have any errors in my collection yet, I do have a lot more interest (and there's that word "yet" again ). And I do own a lot more varieties now than I ever imagined...

Addendum: Proposed Program Continuation

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The American Arts Gold Medallions program issued its last authorized pieces in 1984 - Helen Hayes / One Ounce and John Steinbeck / Half Ounce. Though the program had multiple issues and generally disappointing sales, there were some who proposed that the program continue.

In February 1985, James A. Leach (R-IA) introduced a bill in the House of Representatives ("House"), that outlined a ten-year extension of the program.

The following were to be honored in the program:

- Arthur Miller - Playwright/Essayist
- Georgia O'Keefe - Artist/Painter
- Ella Fitzgerald - Singer/Songwriter
- I.M. Pei - Architect
- William Faulkner - Author (and Nobel laureate)
- Ansel Adams - Photographer/Environmentalist
- Emily Dickinson - Poet
- Buddy Holly - Rock n' Roll Musician/Songwriter
- George Gershwin - Composer/Pianist
- Ernest Hemingway - Author/Novelist
- Aaron Copland - Composer/Pianist/Conductor
- John James Audubon - Ornithologist/Naturalist
- Thomas Hart Benton - Painter/Muralist
- Henry Fonda - Actor
- Charles Marion Russell - Artist/Painter
- Bix Beiderbecke - Jazz Musician/Composer
- Duke Ellington - Bandleader/Composder/Pianist
- Henry David Thoreau - Philosopher/Author/Naturalist
- Will Rogers - Comedian/Writer/Actor
- Paul Robeson. - Musician/Actor/Professional Football Player

Upon its introduction, the bill was referred to the House Committee on Banking, Finance, and Urban Affairs, with a further referral to its Subcommittee on Consumer Affairs and Coinage. The bill did not proceed past the Committee, and the medal program was dropped in favor of the American Gold Eagle bullion coin program.

IMO, the amended program would have created an outstanding series of commemorative medallions in honor of American artists across multiple disciplines - a worthwhile endeavor IMO.


For other of my posts about commemorative coins and medals, see: Commems Collection