US Commemorative Coins
|
Collecting US commemorative coins is a wonderful way to enjoyably create wealth during spare time. US commemorative coins have been minted since the turn of the 20th century, and have had a wide range of themes from the Louisiana Purchase up to this years 2008 Bald Eagle commemorative. The minting of these coins began due to the efforts of the founder of the American Numismatic Association, who sold the coins at shows. The coins are beautiful in the uncirculated condition and bring top dollar if they remain so. In the early days of the minting there weren't many sold, and so what was not sold was melted down, creating a premium later on for the ones that were sold.
There are usually limited numbers of coins minted each time a new piece is produced. This is one reason why they are so desirable and collectable. Limited numbers of sets automatically creates a demand. The numbers minted range from 100,000 all the way up to many millions. Gold is one of the most desirable precious metals available, and has been for decades. It is associated with wealth and status. The composition of these pieces are generally ninety percent gold and ten percent alloy metal. The gold is always 24 karat, which means it is soft. Therefore, if these commemorative gold coin sets are not carefully kept, they easily take on scratches and discolorations when handled in any way. It is therefore in the best interest of the collector to ensure these pieces remain protected in the sleeve in which it came.
US commemorative gold coin sets are and have been minted at more than three minting facilities over the years. These are the Denver mint, the Philadelphia mint, the San Francisco mint, and more recently the mint at West Point, NY. The facilities mint the currency in various amounts of precious metals, anywhere from one-tenth of an ounce up to one ounce. The commemoratives are minted in gold, silver and palladium metals. In the last nine years, the West Point, NY facility minted pieces that contain both gold and platinum! Perhaps in future years collectors may see US commemorative coins manufactured in more combinations such as gold and silver, or silver and palladium. Time will tell.
Each time a commemorative gold set is minted, a law is first passed by Congress to order the pieces to be produced. A theme is chosen, an artist commissioned, and then the process begins. Many times the theme is to commemorate an historical event like the founding of West Point Military Academy, or the first flight of Wilbur and Orville Wright. When these themes appear on the coinage, the proceeds from the sales go towards supporting the organizations tied to the themes on the pieces. So when collectors purchase the sets, they will know that the money is being well spent. Other sets are produced to commemorate events such as the Olympics and when the flag was raised in Iwo Jima by our marines.
US commemorative coins present remarkable and beautiful artwork by many skilled artists. For example, on the 2004 Lewis and Clark Bicentennial commemorative silver dollar, one side depicts Lewis and Clark next to a stream bank. On the other side of the piece is depicted a design that represents the many lives of Native Americans with whom the explorers interacted, as well as a medal presented to the many nations of Indians. Many of the artists who create the engravings that are placed on the commemorative sets also have done sculptures and other works which are wonderful. It is quite a cultural journey to learn about all the many artists who have contributed their considerable skills for the minting of these pieces, and can be an inspiration for those artists who aspire to something of this caliber.
US commemorative coins are usually minted for a short period of time. For issues of other metals, commemoratives are produced over a series of years, as in the case of the silver quarter series that commemorate the fifty states. The minting for these quarters ran from 1999 to 2008! Commemorative themes have also been repeated at times, as in the Gold Indian Head sets with the buffalo on the reverse side. These were first produced from 1913 and again in 2001. Not only does the collector of these pieces learn about artists, but will also learn a great deal about American history!
The collector of commemorative gold coin sets can find these valuable additions to collections not only through the mints, but also via on-line auctions, publications and shows across the country. Collectors can also offer whole or partial collections for sale via these auction houses, and can read about special collections that come up for sale every so often. Not only are US gold sets up for sale, but gold issues from across the world! Of course, some of these collections are quite superb, and contain coinage in the uncirculated or even wholly proof condition. Therefore, unless some numismatists have been collecting for many years and have quite a bit of money to spend on collections such as these, the average collector may not have the ability to bid on sets like these. However these auctions offer the average collector of commemorative gold coin sets ample opportunity to learn more and more about what coins are available in the future, and the value these coins sell for in the markets today.
|
|
|
|
