Commemorative Coins
Commemorative coins are typically coins that have been minted to commemorate a particular even, person or organization.
In 1892, the Columbian half dollars were by most considered the first commemorative coins issued in the United States to commemorate the Columbus’ voyage to America. It was hoped that about two and half millions Columbian half dollar coins could be sold at dollar each. Although many were sold, most of the coins were put into the circulation at face value. That event was considered as the first time that selling special coins at premiums to raise money for special events.
In 1900, the first US commemorative dollar, the Washington Lafayette was issued followed by 1903 Louisiana Purchase commemorative gold dollars. The Panama-Pacific fifty dollar slugs issued in 1915 are very rare.
In the beginning, people did not like the idea of paying a premium for a coin, no matter how interesting it was or how small an issue. People did not know how those coins could increase in value over time. Back then, deals were willing to get the coins out of their investment by adding only a small fraction premium.
Between 1935 and 1936, the commemorative coins became popular and received much greater attention. And then after 1936, few new commemorative coins were approved by the government. There are only a few commemorative coins, such as Boone, Oregon Trail, Texas, and Arkansas. In 1946, Iowa Centennial was issued followed by mass of varities of Booker T. Washington and Washington Carver series.
Commemorative coins:
