Promotional calls to action such as "Act Now!" "Only Limited Quantity Available!" and "Sale Price Will End Soon!" are sales tactics that have been used for as long as one person has wanted to sell something to another person. They continue to be used today, primarily because they work within some segments of the consumer base. The coin hobby has never been immune to such tactics.
Many commemorative coin programs of the classic era have used such "pressure" sales tactics to encourage the purchase of their coin(s). Frank C. Dunn, Executive Secretary of the Daniel Boone Bicentennial Commission and the man responsible for the sale and distribution of the Commission's commemorative half dollar, certainly employed the tactics in his efforts to create a market for the Daniel Boone half dollar.
Quick Recap of the Boone Bicentennial Half Dollar Program
The first half dollars were released in / dated "1934" with all coins being struck at the Philadelphia Mint; the series continued through 1938. (The 1934 date was particularly relevant to the bicentennial commemorative program as Daniel Boone was born in 1734.) The program continued in 1935, with coins struck at Philadelphia, Denver and San Francisco.
It was in 1935 that it was realized that with the date change on the coin, it no longer reflected Boone's birth year bicentennial. So, the Commission went back to Congress with a request for a slight design change. Congress approved the requested change, and a new batch of 1935-dated coins was stuck at all three US Mint facilities - but with a small "1934" added to the reverse. This design change created a second 1935 variety.
Coins for 1936, 1937 and 1938 were all struck at Philadelphia, Denver and San Francisco. Each featured a small "1934" above "Pioneer Year" on the reverse. In total, the Daniel Boone Birth Bicentennial coin program included 16 coins (all dates, all mint marks)Frank Dunn moved to take advantage of the second 1935 variety with a plan that outraged many collectors of the time. Claiming it was in response to "collectors' requests," Dunn arranged for (i.e., ordered) only a small number (2,000) of 1935/34 coins to be struck at Denver and at San Francisco (vs. 10,000 from Philadelphia). .He then advertised the "Limited coinage" and stated that they would be offered - only in pairs - for $1.85 each ($3.70 per pair) "For 3 Weeks Only."
Orders for the coins flooded into Dunn's office, but only a small percentage were filled - the rest were returned. Dunn claimed a "Sell Out" as the reason many orders went unfilled, but the truth of the matter was that he held back coins for himself and select coin dealers. Selling prices for the 1935.34 Boone half dollars from Denver Mint and San Francisco Mint rose quickly on the secondary market (to $50 or more).
(For more on Frank Dunn's mishandling of the coin's distribution, see:
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1934-38 Daniel Boone Birth Bicentennial - Use Of The Funds Collected.)
There's no doubt that Frank Dunn created a market "buzz" for the 1935/34 "D" and "S" coins - much of it outrage among collectors - with his "limited time" advertising. But, looking for a silver lining, the mismanagement of the program was one of the primary catalysts for Congress' actions that looked to reform the US commemorative coin series and prevent such abuses going forward. (Too bad it took until 1939 to pass appropriate legislation - see
Regulating US Commemorative Coins.
1934 Daniel Boone Borth Bicentennial Half Dollar
1935/34 Daniel Boone Borth Bicentennial Half Dollar
For other of my posts about commemorative coins and medals, including more stories about the Boone half dollars, see:
Commems Collection.
Posted 02/28/2025 10:28 am
