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Commems Collection Modern: 1987 Constitution PNC

 
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 Posted 12/30/2020  7:58 pm Show Profile   Bookmark this topic Add commems to your friends list Get a Link to this Message
In the early days of the modern US commemorative coin series, it was not necessarily the rule that a new commemorative coin had to have a private sponsor behind it to get it approved. The 1982 George Washington half dollar, for example, did not have any private sponsor and the surcharges collected from its sale were deposited in the General Fund of the Treasury for the purpose of reducing the national debt.

The same was true for the 1987 US Constitution Bicentennial silver dollar and gold half eagle ($5.00 coin). The surcharges collected via sales of the two coins were earmarked for the General Fund and national debt reduction.

In 1983, the 98th Congress established the Commission on the Bicentennial of the US Constitution. In 1986, Public Law 99-549 authorized the Commission to retain and spend the proceeds it collected from the licensing of its bicentennial logo in order to fulfill its legislated purpose "to promote and coordinate activities to commemorate the bicentennial of the Constitution." The Act authorizing the 1987 commemorative coin program for the Constitution's bicentennial references the Commission as one of the two groups to be consulted regarding the coin designs - the other was the Commission of Fine Arts. Though involved with the coin, the Commission did not receive surcharge funds from coin sales (as noted above). It did, however, raise revenue via its logo licensing and royalty contracts.

One group that the Commission sold a license to was Fleetwood of Cheyenne, Wyoming. Collectors with an interest in stamps and first day covers (FDCs) are likely aware of Fleetwood as a major producer of FDCs and other related philatelic products - these 'other' products included philatelic-numismatic covers/combinations (PNCs).

Fleetwood created a range of FDCs that used the Commission's licensed logo and each included the text "An official First Day Cover of the Commission on the Bicentennial of the US Constitution." One FDC product they created in 1987 included the 1987 Constitution silver dollar; images of the one in my collection are presented below.

In addition to an uncirculated version of the silver dollar, the cover includes the new-at-the-time 22-cent US Constitution stamp (seen in the upper right corner), along with three other historic stamps that related to the theme: the 1937 3-cent stamp marking the Constitution's sesquicentennial, a 10-cent stamp from 1956 depicting Independence Hall (site of the Constitutional Convention of 1787) and a 13-cent stamp from 1975-81 that presents Independence Hall and the 13-star flag most often attributed to Betsy Ross.

The Commission's logo can be seen on the back of the PNC along with a statement from the Deputy Staff Director of the Commission attesting to the cover's official status.

The current market price of the PNC reflects the low price of the Constitution silver dollar which is generally tied to its intrinsic/bullion value vs. being a coin that carries a strong numismatic premium. Finding one of the covers for a price in the range of $25 to $35 should not be too much of a problem.





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 Posted 12/30/2020  8:05 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Don't collect these modern issues, but must admit that FDC is pretty cool.
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 Posted 12/31/2020  09:51 am  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Interesting. Thanks, again, for the informative posts.

Wouldn't it have been cool if they'd printed the reverse of the card in "coin turn"...
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 Posted 01/01/2021  08:08 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply

Quote:
Wouldn't it have been cool if they'd printed the reverse of the card in "coin turn"...

Interesting thought. I would suggest that the orientation used for the printing is more a result of philatelic tradition vs. numismatic.

Based on the marketing I've seen, I believe these covers are targeted more at stamp/cover collectors vs. traditional coin collectors, and so the coin's orientation is a secondary concern vs. bring consistent with the general orientation used for printing on the vast majority of FDC and event covers.


Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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 Posted 01/01/2021  11:55 am  Show Profile   Bookmark this reply Add muddler to your friends list Get a Link to this Reply
Cool original holder, here is the gold coin.



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 Posted 01/03/2021  12:54 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Cool original holder, here is the gold coin.
Very nice!
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