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Commems Collection Modern: 1992 White House Bicentennial PNC

 
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 Posted 10/13/2021  08:48 am Show Profile   Bookmark this topic Add commems to your friends list Get a Link to this Message
As many here know, I enjoy adding supplemental material to my core commemorative coin collection - classic and modern. I tend, however, to stick with "official" pieces vs. any and all items that commemorate the same person/place/thing/event as the Congressionally-authorized coin. The 1986 Statue of Liberty (SoL) coin program is a perfect example. There were literally hundreds of tie-in commemorative products issued for the Statue's centennial in 1986 - a collector could get lost trying to track them all down (then and now!). Most of them were not truly official, however, and by that I mean sponsored by the Statue of Liberty/Ellis Island Foundation (SOL/EIF) headed by Lee Iacocca.

The SOL/EIF was the group that sponsored the commemorative coins and officially licensed a variety of numismatic (and non-numismatic) souvenirs to raise funds for the SoL's restoration. I have several SoL medals in my collection, each was a licensed product of the SOL/EIF. I prefer these official pieces because they generally generated funds for the same purpose(s) as the coin(s) vs. being a privately-marketed, for-profit only endeavor that does not benefit the original cause. I call such official pieces "cousins" due to their close relation to the official coins that make up my core collection.

Sometimes, you need to dig a little deeper than the surface to understand the true relational ties between things...

As a kid, I actively collected stamps along with coins. I moved away from stamps as I got into my teen years but have always maintained a "soft spot" for them in my collecting. Most of my adult philatelic purchases have been items with direct tie-ins to my commemorative coins/medals, however. To illustrate this, check out my recent post about a set of official Arkansas Statehood Centennial first day covers (FDCs). (Link below.)

Due to my fondness for the philatelic side of life, I've enjoyed adding philatelic-numismatic covers (PNCs) to my collection over the years. My collection includes coin/stamp PNCs and medal/stamp PNCs, with a special fondness for the PNCs with a direct/official connection to the commemorative subject and/or its sponsor. (I made quite a number of posts with PNCs from my collection in a thread started by CelticKnot - link below.)

One such PNC is presented here, it was produced and sold by Fleetwood, the company famous for its artistic and colorful first day covers (FDCs). I don't often buy Fleetwood's modern US commemorative coin covers because most have no direct link to the original sponsor of the featured coin. The PNC presented here, however, is a bit different. It features an example of the uncirculated version of the 1992 White House 200th Anniversary commemorative silver dollar. The coin was issued to mark the 200th anniversary of John Adams, the second US President, moving into the Executive Mansion (aka, the White House) in 1800 and becoming the first president to call it home; his wife, Abigail. moved in with him. (George Washington, the first US President never lived in the mansion as it was under construction during his terms in office.)

The cover has a dual cancellation: the earlier cancellation - April 23, 1992 - is for the first day of release for the 29-cent White House Bicentennial stamp. The second cancellation - October 13, 1992 - reflects the 200th anniversary of the laying of the Executive Mansion's cornerstone in 1792. The October postmark cancels a 4-1/2 cent, gray, regular issue White House stamp from 1938 and a 4-cent, green, commemorative issue White House stamp from 1950; the stamp marks the 150th anniversary of John Adams becoming the first president to move into the White House.

I mentioned above that his PNC was different...If you read through the information card that was included in the PNC's portfolio (see below), you'll notice that the PNC was "Officially endorsed by the White House Historical Association..." In the authorizing legislation, the coin's surcharge funds were designated to be given to the White House Endowment Fund as "support for the White House Collection of fine art and historic furnishings, and for the maintenance of the historic public rooms of the White House. "

So, an obvious mismatch between the coin and PNC. Why did I go against my preference and purchase the cover? Because, it turns out, there isn't much of a mismatch at all.

The origins of the White House Endowment Fund are found in the historic preservation efforts of First Lady Jacqueline Kennedy who began her efforts in 1961. The First Lady created the White House Furnishings Committee and developed a "program in order to restore the historic integrity of the public rooms of the White House; to establish a fine and decorative arts collection; and to establish the White House Historical Association to publish and distribute educational materials describing the White House and its history." (Senate Report 104-378.)

In 1964, President Lyndon Johnson advanced Jacqueline Kennedy's initial efforts by creating the Committee for the Preservation of the White House via Executive Order and creating the White House Preservation Fund. The Preservation Fund was transitioned into the White House Endowment Trust by First Lady Rosalynn Carter who spearheaded very successful fundraising efforts on its behalf.

The funds of the Trust were depleted during the 1980s until First Lady Barbara Bush reinvigorated the Fund in 1989/1990 and set a goal of creating an endowment fund of $25 million. An important change to the Fund was the assignment of the White House Historical Association as its administrator. Fundraising from private donors has proven successful over the years, and, per recent financial statements, the Fund currently has assets valued at over $60 million; funds are raised via private donations vs. Congressional appropriations. One of the early major fundraisers for the invigorated Trust was the 1992 White House 200th Anniversary commemorative silver dollar. The issue was a "sell out" and raised $5 million for the Endowment.

The coin had a maximum mintage of 500,000, split between proof and uncirculated version (the number of each dependent on collector demand). The silver dollar sold out at the Mint and saw its retail price in the marketplace steadily increase. I was offered twice issue for my uncirculated coin by a local dealer during the price run up, but I held on to my coin! Today, the coin is readily available and its retail price is driven more by its intrinsic value than numismatic premium.

So, while the PNC has no explicit/identified ties to the White House Endowment Fund, its endorsement by the White House Historical Association (which very likely received some level of compensation for its endorsement) means it is indirectly, but undeniably, linked to the Endowment Fund. For example, Fleetwood had to purchase the White House coins for their PNC which generated surcharge funds for the Endowment, and the Endowment funds generated were subsequently managed/administered by the Association.

A few quick words about the coin itself: Its obverse was designed by Edgar Z. Steever, IV, its reverse by Chester Y. Martin. The North Portico of the White House is presented on the obverse of the coin, with the reverse depicting James Hoban, the first architect of the White House, along with the Hoban-designed Main Entrance to the mansion.

1992 White House Bicentennial Silver Dollar


1992 White House Bicentennial Philatelic-Numismatic Cover (PNC)






Here are the links to the threads referenced above:

- 1935-39 Arkansas Statehood Centennial First Day Covers
- Official PNC (Philatelic Numismatic Cover) Thread


You may also have an interest in a medal issued in 2000 by the White House Historical Association:

- 2000 White House Medal


Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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 Posted 10/13/2021  3:02 pm  Show Profile   Check chafemasterj's eBay Listings Bookmark this reply Add chafemasterj to your friends list Get a Link to this Reply
Have you ever considered publishing a book? Your wealth of information and easy-to-read writing style would make for a great catalogue or even a coffee table book.
Check out my counterstamped Lincoln Cent collection:
https://www.coincommunity.com/forum...IC_ID=303507
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 Posted 10/13/2021  6:21 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Only one word for this issue - BO-ring.
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