Many of my posts regarding United States ("US") commemorative coins of the classic era include references to objections to the coin proposals by the US Treasury Department. But such objections were not always the case, it developed over time as the coin requests became more frequent.
The earliest issues of the commemorative coin series (1892 Columbian through 1918 Illinois Statehood) did not face Treasury Department objections.
The early 1920s represented a period of transition for the Treasury's stance on US commemorative coins, however, and it did not deliver an entirely consistent message:
- The Treasury voiced its disfavor regarding the 1920 Landing of the Pilgrims Tercentenary coin, though the disfavor seems to be more 'general' than coin-specific:
"In regard to the bill under review [1920 Landing of the Pilgrims 300th Anniversary] I would like to again state that on the proposed legislation the department looks with disfavor and anxiety upon the issuance of an indefinite number of special coins, principally for the reason that such policy makes the detection of counterfeiting less difficult and the protection of the integrity of our coinage a much more difficult matter."- It did not go on record with opposition to the minting of the 1921 Missouri Statehood Centennial or 1922 Grant Centenary coins.
- It did not specifically oppose the striking of the 1920 State of Maine Centennial or 1921 Alabama Statehood Centennial coins:
"In reply to your recent inquiry in regard to the issue of memorial coins in commemoration of the admission of the State of Maine and the State of Alabama into the Union, it was stated that while the department has no recommendations to make, no objection would be interposed if Congress saw fit to authorize the issuance of the coins."- The Treasury did not raise objections to the 1923
Monroe Doctrine (Enunciation) Centennial or 1924 Huguenot-Walloon Tercentenary coins.
The Treasury Department, however, mounted a stronger opposition to the use of the
US coinage system for souvenir/memorial/commemorative pieces beginning with the proposed 1925 issues. This manifested itself in it securing the switch of the Norse-American Centennial commemorative request from a half dollar to a medal. It had similar success - though only temporary - with the Fort Vancouver Centennial request.
During the 1925 Hearing to review the proposed Battle of Bennington/Vermont Independence Sesquicentennial half dollar, a letter from Andrew W. Mellon, Secretary of the Treasury, was read into the record. It made clear the Treasury's position regarding commemorative coinage. The letter stated:
"In my judgment the coinage should not be utilized for for profit to finance any project or commemorate any other events than those of great national importance to all of the people. The policy of issuing special coins opens the way to counterfeiting and makes the protection of the integrity of our coinage more difficult. The issue of special coins is not in the interest of the general public and usually satisfies a very limited demand. The practice introduces confusion into our system of coinage, is an unnecessary expense, and as actual results have shown special coins are not liked by the public."Mellon's letter then presented a table of recent commemorative coins (i.e., Maine, Pilgrim, Alabama, Missouri, Grant,
Monroe Doctrine and Huguenot-Walloon) that highlighted the volume of coins that had been returned to the Mint to be melted - it wasn't a pretty picture!
The letter concluded with Mellon quoting US law (Act of September 26, 1890) which states:
"...no change in the design or die of any coin shall be made oftener than once in 25 years from and including the year of the first adoption of the design, model, die, or hub, for the same coin."He then noted how the issue of so many special commemorative coins was counter to this law.
The points raised in the letter became the standard planks of the Treasury's objection platform going forward, and were adopted by US Presidents along the way.
The 1928 Hawaiian (European) Discovery Sesquicentennial half dollar proposal was not objected to by the Treasury Department, however. Secretary Mellon responded to a question about it by stating:
"This department interposed no objection to the [1928 Hawaiian half dollar] bill for the reason that the issue of the proposed coin is for a territorial government enterprise. It is sponsored entirely by the territorial government of Hawaii. The event to be commemorated by the issue of a special coin is, in the judgment of this department, equal in importance and significance to the people of Hawaii to that of our recent sesquicentennial celebration in Philadelphia for which special coins were authorized.
[...]
"This department has, on numerous occasions, opposed the issue of special coins for local celebrations of interest to a limited number of people. The request of the territorial government of Hawaii for a special coin should not be regarded as in the same category with requests for special coins sponsored by non-governmental organizations or associations."Going forward, the Treasury's same objections were brought out repeatedly as each new commemorative coin proposal was considered. And even though the objections might have been recognized (and sometimes explicitly supported) by members of Congress. the US Congress passed coin bill after coin bill which resulted in the 1930s explosion of issues.
The Treasury was eventually successful in stopping the issue of US commemorative coins, with the 'coin gap' being filled by commemorative medals. Dozens of commemorative medals were authorized by Congress and struck by the Mint in the late 1950s, throughout the 1960s and into the 1970s - a roughly 20 year span.
The Treasury's opposition to commemorative coins continued for decades, finally cracking for the 1975-76 US Bicentennial coinage and then being followed by the 1982 George Washington Birth 250th Anniversary Half Dollar. With the gates open, many new commemorative coin proposals were introduced and authorized (in many, but not all cases). So many of the modern coins have been authorized, in fact, that coins of the modern US commemorative series outnumber the coins of the classic era.
For other of my posts about US and World coins and medals (though mostly US and/or Canada), including more about each of the coins referenced here, see:
Commems Collection
Posted Today 1H 11M ago
