Coin Community Family of Web Sites
YourCoinBox is offering a stress free way to appraise and sell your coins from the comfort of your home. Our goal is to create an ultra transparent and no pressure experience for finding out what your coins are worth and what to do with them.
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Commems Collection: 1925 Stone Mountain Revisited #3

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 9 / Views: 568Next Topic  
Pillar of the Community
Learn More...
United States
6097 Posts
 Posted 04/01/2021  10:00 pm Show Profile   Bookmark this topic Add commems to your friends list Get a Link to this Message
It's been awhile since I last posted about the US commemorative coin ephemera I have collected over the years, so I decided it was time to "dive into the box" and see if I could find something interesting to present! Hopefully, you'll agree that I was successful in my search!

The Stone Mountain Confederate Monumental Association (SMCMA) tried many ways to promote/market its 1925 half dollar back in the mid-1920s. It did not, however, create custom packaging for its coins - this was left to private concerns that supported the Association's efforts and purchased large quantities of its coins to either giveaway or market on their own.

When I took an interest in the paperwork and holders associated with the classic era commemorative coins, I became aware of a particular distribution card that was used to market and deliver examples of the Stone Mountain half dollar. As I searched for a nice example of the card, more than one dealer told me that it was used to help sell/distribute the coins back in 1925/26. I also read published articles that described the card along similar lines. I accepted this information as fact as I had no reason to doubt it. My curiosity about the card, however, lead me to conduct my own research on it and I came to realize that it has a very different origin story from what I had been told.

The distribution card I am referring to is shown below, it is the "Bernard Baruch Collection" holder.

Bernard Baruch was a very successful financier who developed his personal fortune via investments in the stock market. His success in personal and corporate finance led to his serving as an advisor to US Presidents Woodrow Wilson, Franklin Delano Roosevelt and Harry Truman and to serving in multiple appointed positions during World War I, World War II and in the post-War period. During WWI, for example, he was appointed as the head of the War Industries Board which coordinated the wartime production of strategic American industries. After World War II, he served as the US Ambassador to the UN Atomic Energy Commission.

Bernard Baruch


Bernard Baruch Stone Mountain Half Dollar Special Distribution Card


Citizens and Southern National Bank Envelope for Baruch Distribution Card


1925 Stone Mountain Half Dollar Attached to Distribution Card


It is known that Baruch personally purchased a large quantity of the Stone Mountain coins to support the SMCMA during the time of its active marketing of the coin; he also served as the honorary chairman of a New York committee organized to promote sales of the coin. Depending on the reference consulted, the number of coins he was reported to have purchased ranged from a low of 1,000 to a high of 100,000. I would suggest a quantity of 10,000 based on the quantity included in his 1956 donation. (See below.)

New York Stone Mountain Half Dollar Committee Coin Holder


Though I tried for years, I struck out purchasing a clean example of the holder from a dealer or via eBay - in my experience, many come dirty, torn and/or folded - but I did finally find one being offered in a StacksBowers auction several years ago.

The catalog described the coin as a "splendid Gem warmly toned and attractive." It graded the coin as MS-66. I didn't agree with either assessment at the time and I still don't today! But, my interest in the lot was in the holder and envelope - each of which was in excellent shape. Also, the coin was still in the cellophane sleeve that it originally came in (attached via staple to the holder) and was still intact. I turned out to be the high bidder on the lot and it was soon on its way to me.

Of note, the lot description for the coin and holder stated, "According to the Swiatek-Breen commemorative reference, the distribution of Bernard Baruch's coins took place in 1928." You can't always believe what's printed in an auction catalog!

The holder was created in the 1950s not 1925 or during the late 1920s. In 1956, Baruch donated 9,000 Stone Mountain half dollars to the United Daughters of the Confederacy (UDC) to be sold by the group to help raise funds for the construction of its new headquarters building in Richmond, VA. Baruch donated the coins to the UDC in memory of his late mother, Mrs. Simon Baruch, who had been a UDC member.

The coins were stored in the vaults of Citizens and Southern National Bank in Atlanta, Georgia, and were distributed by the bank. Special cards were printed to hold the Baruch coins, with the coin being placed in a cellophane envelope that was stapled to the card. Card and coin were then placed in an envelope with the bank's name and location. As can be seen on the card holder, the coins were sold at a price of $3.25 each. As a point of comparison, in 1956, an uncirculated Stone Mountain half dollar generally retailed for between $2.00 and $2.50.

So, sale of the coins aided two distinct construction projects. The original sale of the coins generated funds for use by the SMCMA in achieving its objective of creating the Stone Mountain monument, and the subsequent sale, roughly 30 years later, which helped raise money to support the construction of a UDC headquarters building - a numismatic double dip!


For more of my posts about the Stone Mountain Half Dollar and associated ephemera, see: Read More: Commems Collection.



Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Edited by commems
04/01/2021 10:03 pm
Moderator
Learn More...
United States
101953 Posts
Pillar of the Community
United States
1892 Posts
 Posted 04/02/2021  1:57 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Excellent write-up and interesting information. I have always thought about looking for some of the associated materials that came with commemoratives and medals. Get started or quit thinking, right?

Moderator
Learn More...
United States
101953 Posts
Valued Member
Learn More...
United States
244 Posts
 Posted 04/02/2021  9:04 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply
@Commems, another fascinating write-up, that the rest of us derive interesting knowledge.

Thanks.

Steve
A day without fine wine and working on your coin collection is like a day without sunshine!

My collecting "Pride & Joy" is my PCGS Registry Dansco 7070 Set:
https://www.PCGS.com/setregistry/ty...edset/213996
Pillar of the Community
Learn More...
United States
7157 Posts
 Posted 04/03/2021  07:01 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
I've always been fascinated by the variety of commemorative ephemera you have collected over the years commems and am pleased to see you show these examples.

Great story, I always learn something new and of course your smooth explanatory writing style is unparalleled. Many thanks for sharing.
Take a look at my other hobby ... http://www.finewoodcrafter.com
Too many hobbies .... too much work .... not enough time.
Valued Member
Learn More...
United States
244 Posts
 Posted 04/03/2021  9:46 pm  Show Profile   Bookmark this reply Add Winesteven to your friends list Get a Link to this Reply

Quote:
I've always been fascinated by the variety of commemorative ephemera you have collected over the years commems and am pleased to see you show these examples.

Great story, I always learn something new and of course your smooth explanatory writing style is unparalleled. Many thanks for sharing.


This!
A day without fine wine and working on your coin collection is like a day without sunshine!

My collecting "Pride & Joy" is my PCGS Registry Dansco 7070 Set:
https://www.PCGS.com/setregistry/ty...edset/213996
Bedrock of the Community
Learn More...
United States
59304 Posts
 Posted 04/03/2021  10:10 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
A wonderful commemorative issue, with a colorful and controversial history that is apparently too politized for a thoughtful discussion on this forum.
Edited by Coinfrog
04/03/2021 11:07 pm
Pillar of the Community
Learn More...
United States
6097 Posts
 Posted 04/04/2021  07:46 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
I write about coins, not politics. There are plenty of other places on the internet to discuss politics - IMO, CCF doesn't need to be one of them.



Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Moderator
Learn More...
United States
101953 Posts
 Posted 04/05/2021  11:16 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I write about coins, not politics. There are plenty of other places on the internet to discuss politics - IMO, CCF doesn't need to be one of them.


You will notice that we pull anything even remotely political. Even if it seems innocent, some will jump on it as an invitation to rant.
  Previous TopicReplies: 9 / Views: 568Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.42 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05