A guide to the USA Commemorative Coins
By Coins and coin collecting | Wednesday, 17 May 2006
What is a commemorative coin?
In 1892 the first commemorative coin was created with the intention that every new commemorative coin of its type would commemorate a historical event, person or place. They were also supposed to be used to raise money for a cause associated with the history. However, many argue that within 30 years this had already ceased to be the case. In the 1920s and 1930s it is believed that many of the coins were created simply to raise money for esteemed coin collectors. However, that does not detract from how collectible they are and many collectors tend to concentrate on collecting solely commemorative coins.
Are commemoratives really collectible?
Commemorative coins are created right across the world by a great many countries and are often available to be bought individually or in commemorative collector sets. While these are dubbed as being the ideal set for collectors it is often the case that tens of thousands, if not more, of these sets are created and are far from being as collectible as other coins for a similar price. However, commemorative coins do have their place in many people's collections and with two significant reasons.
Commemoratives for the numismatist
Because they are often created on an annual basis with a new design every year the commemorative coin gives an excellent numismatic timeline throughout a country's monetary history. For this reason they are of great interest and, therefore, value to numismatists around the world. They are also often created in fine silver and gold and finished perfectly so are ideal coins for the investor. Investors are interested in coins that are made of the finest materials and have very little damage and because commemorative coins or sets are often sold in protective wallets it is likely that they will still be in excellent order even after several years.
A history of the US commemorative coin
The first US commemorative coins were struck in 1892 to celebrate the 400th anniversary of Columbus discovery of the new World. From 1892 to 1954 an impressive 50 different designs of silver commemorative coins were pressed but the creation of these coins then stopped until 1982. Commemoratives created before 1954 are commonly referred to as 'commemoratives' whereas those struck after 1982 are called 'modern commemoratives'. 13 different gold commemoratives were created in the early stages including gold dollars, quarter eagles and $50 gold pieces. Since 1984 several new commemoratives have also been created as collector's pieces.
The opportunities of collecting commemorative coins
Because of the various designs, styles and ages of the coins, collectors are afforded lots of different opportunities to start a collection. Some collect commemoratives from a certain decade while others collect coins celebrating certain types of events. More still will collect coins that feature Presidents or naval items. With so many different commemoratives available, and not necessarily for cheap prices it is important that you select when and where to start your collection; after all you can always expand if you find you have managed to complete your set.
The commemorative coin committee
There is now a committee set up to determine everything about new commemorative coins. This has been done in a bid to alleviate the earlier fears that commemorative coins were being used to line the pockets of already very wealthy coin collectors and other officials. Meeting regularly the committee decide on the commemorative occasion, design, size and value of the coin as well as how many will be issued and how much they will cost. The committee contains a large number of prominent numismatists ensuring that things are done properly, fairly and for the good of everyone with an interest in coins.
This article is part of the Coins and coin collecting articles.
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