Each of the classic-era US commemorative coins was struck to be a fund raiser for a non-Federal Government organization of some sort - some small, some grand. I've always wondered, however, how profitable the coins were for their sponsor.
As I was going through my notes about the 1935 Connecticut Tercentenary half dollar, I was reminded that I did have the answer to the question (at least for the Connecticut!). Per the Connecticut Tercentenary Commission Final Report, the Commission (the coin's sponsor) netted $12,389.79 from sales of the coin.
With a mintage of 25,000 and a selling price of $1.00 per coin (the first 200 struck were sold for $2.00 each), the coin had a maximum gross revenue potential of $25,200 ($24,800 + $400); the total was likely slightly less as it seems safe to assume that multiple VIPs were given/presented with an example of the coin vs. having to pay for it. That said, the coin-related expenses for the project can be estimated at ~$12,810 ($25,200 - $12,389.71). The Report lists expenses a bit lower at $12,560.21, however, which, I believe, supports my suggestion that some of the coins were given away vs. sold to generate revenue. It appears ~250 coins fell into this category (possibly more if Commission members and friends were able to exchange standard coins/currency for a commemorative piece at face value - a revenue neutral position).
The expense figures point to one conclusion: the Commission seemingly had very low coin-related expenses beyond the cost of the coins purchased from the Mint (25,000 coins at $0.50 each totals $12,500). As it's difficult to believe the Commission had only $60.21 in expenses beyond the cost of the coins, I imagine that some expenses (e.g., US Mint production and delivery costs, publicity, printing of mailing envelopes, etc.) were included under different headings (e.g., "Miscellaneous" expense items) in the Commission's "Receipts and Distributions" statement vs. being specifically assigned to the coins.
Based solely on the numbers presented in the Report, each 50-cent coin sold generated, on average, ~$0.50 in profit (~100% profit) for the Commission - not too shabby!
As most coin sponsors are not state-created organizations (in contrast, the Connecticut Tercentenary Commission was authorized by the Connecticut legislature in 1929) they are not required to publish a final report and/or financial accounting as Connecticut did. So, data revealing the profit figures for most commemorative coin programs is not readily available.
1935 Connecticut Tercentenary Half Dollar
Posted 08/09/2021 11:48 am
