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Commems Collection: Question & Answer #01 - Starting Point Of US Commemorative Coins?

 
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 Posted 07/15/2022  09:04 am Show Profile   Bookmark this topic Add commems to your friends list Get a Link to this Message

Quote:
How/Why did the practice of striking US Commemorative Coins get started?

The first Congressionally-authorized US commemorative coin was the 1892 Columbian Exposition half-dollar. The organizers of the Exposition were in need of funds to support staging the event and approached the US Congress regarding a "souvenir coin" (among other appropriation requests).

The idea was for the Exposition to "buy" genuine US coins from the Mint at face value (50 cents) and then sell them to fairgoers and souvenir seekers for $1.00 - the profits going to support the Exposition. Congress agreed to direct the Mint to strike up to five (5) million souvenir half dollars with a special Exposition design, and passed a bill to such effect that President Benjamin Harrison signed into law.

This "souvenir coin as a fundraiser" mentality has been a significant driver behind every US commemorative coin that has followed.


Have a question? Post it in the Question & Answer - Introduction & Question List" thread and I'll try to provide an answer.


For other of my posts about commemorative coins and medals, see: Commems Collection.



Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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United States
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United States
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 Posted 07/15/2022  10:46 am  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
Hooray for a new commems topic! Onward we go on a journey of learning.
Take a look at my other hobby ... http://www.jk-dk.art
Too many hobbies .... too much work .... not enough time.
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 Posted 07/15/2022  4:53 pm  Show Profile   Bookmark this reply Add hokiefan_82 to your friends list Get a Link to this Reply
Thanks, commems, I look forward to seeing the Q&A topics!
My U.S. Type Set: https://www.NGCcoin.com/registry/co...sets/278808/
My U.S. Classic Commemorative Complete Set: https://www.NGCcoin.com/registry/co...sets/278741/
My 20th Century U.S. Type Set - Proofs only, No Gold https://www.ngccoin.com/registry/co...sets/396301/
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