Coin Community Family of Web Sites
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!

US Commemorative Coin Series: Quick Bits #39 - Gettysburg Die Costs

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 7 / Views: 293Next Topic  
Pillar of the Community
Learn More...
United States
7057 Posts
 Posted 12/03/2021  10:58 am Show Profile   Bookmark this topic Add commems to your friends list Get a Link to this Message
It has been a standard provision included within Acts that authorized coins of the classic-era of US commemorative coinage that the coins needed to be produced without cost to the Government of the United States. Beginning with the Act that authorized the 1918 Illinois Statehood Centennial Half Dollar, approved coin bills included the following language (or phrasing very similar):

"Provided, That the Government shall not be subject to the expense of making the necessary dies and other preparations for this coinage."

(Prior Acts had differing language.)

I've long wondered what the Mint/Treasury Department charged each coin sponsor for the die preparation - maybe someday I'll take the time to research the financials of all the coin programs to discover the answer. Until then, however...

While flipping through the Report of the Pennsylvania Commission for the 75th Anniversary of the Battle of Gettysburg, I came across a listing of expenses for the Commission. Included was "Master die for commemorative coins, for U. S. Mint." The listing's cost? $300.00.

With a net mintage of 26,900, the amortized die cost was $0.011 per Gettysburg half dollar distributed - roughly just one cent per coin! Very reasonable IMO!

It seems likely that the same or a similar fee was charged to other mid-1930s commemorative coin programs,


1936 Battle of Gettysburg 75th Anniversary Half Dollar



If you'd like to learn more about the Gettysburg Half Dollar, I have previously posted about the coin:

- 1936 Battle Of Gettysburg 75th Anniversary
- 1936 Battle of Gettysburg 75th Anniversary - Ephemera
- 1936 Battle of Gettysburg 75th Anniversary - Ephemera II
- 1936 Battle of Gettysburg 75th Anniversary - House vs. Senate


Other of my commemorative coin posts can be quickly accessed here: Commems Collection


Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Pillar of the Community
United States
2056 Posts
 Posted 12/03/2021  12:45 pm  Show Profile   Bookmark this reply Add Bump111 to your friends list Get a Link to this Reply
Interesting. I wonder what comparable costs for dies would be today?
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
Bedrock of the Community
Learn More...
United States
64375 Posts
 Posted 12/03/2021  12:51 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
Once again, most informative.
Moderator
Learn More...
United States
108449 Posts
Pillar of the Community
Learn More...
United States
7454 Posts
 Posted 12/04/2021  07:49 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
That strikes me as a very reasonable cost. Annualized inflation since 1936 to today has been 3.52%, resulting in that $300 expense being today's equivalent of $5,662.

Fun research project (@commems, are you listening? ) ... what does a 'typical' modern commemorative coin sponsor pay for die design/engraving costs?

I wonder what happens to the master die at the conclusion of the coins mintage program? Since the sponsoring organization paid for it they have some standing to claim possession and preservation.

Then again, the Mint likely also claims possession due to the legal tender status of the potential additional coins struck.

My conjecture is that the mint retains and eventually defaces the master dies, otherwise if released to private ownership we would over time see a few appear on the secondary market and, heaven forbid, occasional restrikes in latter years.

Take a look at my other hobby ... http://www.jk-dk.art
Too many hobbies .... too much work .... not enough time.
Pillar of the Community
Learn More...
United States
7057 Posts
 Posted 12/04/2021  11:22 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply

Quote:
I wonder what comparable costs for dies would be today?

Quote:
What does a 'typical' modern commemorative coin sponsor pay for die design/engraving costs?

Distilling a specific answer for these questions is a bit difficult.

First, in the modern program, the sales/distribution model is different from that of the classic era. Today. the Mint handles it all and sensd a "Surcharge Funds" payment (or payments) to a sponsor if the Mint's costs are recovered. If the Mint does not recover its costs, the sponsor does not get a check (now an electronic transfer). So, the sponsor doesn't technically pay separately for the coin's models anymore.

Of course, a cost has to be assigned to the design, development and production of the dies as part of the Mint's expenses so that the cost can be included in its cost-recovery calculations. Unfortunately, as it is an internal calculation, the Mint does not always provide itemized details for public release. For example, in the 2019 Congressional Research Service (CSR) Report - Commemorative Coins: Background, Legislative Process, and Issues for Congress - costs associated with the dies for the 2006 Benjamin Franklin Silver Dollar Program (used as an example within the Report) were included in a $7.576 million line item labelled "Manufacturing and Assembly." Not very granular!

I'll try to provide additional details as I come across them.




Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Pillar of the Community
Learn More...
United States
506 Posts
 Posted 12/04/2021  12:20 pm  Show Profile   Bookmark this reply Add hokiefan_82 to your friends list Get a Link to this Reply
Thanks for another informative and interesting post!
Valued Member
United States
487 Posts
 Posted 12/07/2021  10:30 am  Show Profile   Bookmark this reply Add psuman08 to your friends list Get a Link to this Reply
Very interesting, thanks for sharing. One of my favorite designs.
  Previous TopicReplies: 7 / Views: 293Next 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 - 2022 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 - 2022 Coin Community Forums
It took 0.31 seconds to rattle this change. Powered By: