A quick follow-up on the Hearing I referenced in the original post...During a multi-coin Hearing before the Senate Committee on Banking and Currency Subcommittee on Coinage and Philippine Currency, Senator Wallace Humphrey White. Jr. (R-ME) described the situation behind his new York Country, ME coin proposal:
"The facts of the matter are, briefly, these: In the last Congress there was legislation enacted authorizing the issuance of 30,000 commemorative coins, commemorating the three-hundredth anniversary of the establishment of the first county created in the State of Maine, one of the very earliest counties set up anywhere in the United States. Through some misunderstanding they only took 25,000 of the 30,000 commemorative coins authorized. Those were distributed to the public with the assurance given to all who purchased them that the total issue was 25,000. They now discover a demand for the additional 5,000 coins. But they feel it would be, if not a fraud, at least something approaching a fraud upon those who heretofore purchased with the understanding that there were to be only 25,000 of those commemorative coins Issued. They now propose that there should be issued 5,000 additional commemorative coins bearing the date 1937. So this bill I offered on March 17, 1937, being S. 1896, would provide for the issuance of the additional 5,000 commemorative coins, but under date of 1937.
"That is the only complication that arises. If it were not for the fact that they held out to the public and to everyone interested in those commemorative coins that there were only 25,000 to be issued, why, they could just go ahead and order the additional 5,000 under the present law, because that right extends up until sometime in June of this year. But they do not feel that such action would be in good faith, I mean to issue the additional 5,000 commemorative coins under the date of 1936. This simply asks permission to issue the additional 5,000 commemorative coins under the date of 1937."
Senator White's statement puts a partially inaccurate spin on the situation as it actually stood, and attempted to hide reality behind a facade of altruism.
First, the primary obstacle for the Committee for the Commemoration of the Founding of York County was the fact that the coin's authorizing legislation set a minimum order size - 25,000 coins. In 1936, the Committee originally accepted an order of 25,000 coins out of an authorization of 30,000. It had no legal way to place an order for just 5,000 coins regardless of Senator White's declaration! Without an amendment, the remaining authorization was untouchable.
Second, White glossed over the fact that the York County Committee had unsold 1936-dated half dollars that it wanted to have re-coined as 1937-dated pieces to reinvigorate its overall coin sales (as described above). Without explicitly expressing this, White's amendment bill was carefully worded to enable it - it included the phrase "not minted
or issued in the year 1936." (My emphasis added.)
Third, White indicated that the York Committee had discovered a public demand for the additional 5,000 half dollars. This was a bit strange considering the Committee had ~6,000 unsold coins in its inventory. If there was demand, why weren't these coins taken up?
Senator White was serving in his 10th session of Congress (the first seven in the House) and was clearly skilled in the art of holding back "ugly" details when making one's case to colleagues. Why muddy the waters with facts and accuracy? His efforts were for naught, however, as no amendment for the York County, ME Tercentenary Half Dollar was forthcoming.
Be on the look out for a post about the order mix-up at the Mint!For other of my posts about commemorative coins and medals, including more on the York Tercentenary half dollar, see:
Commems Collection.
One of the other York half dollars in my collection:
Posted 11/01/2020 6:37 pm
