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What are Commemorative Coins?
Commemorative coins have become very popular. Many people want to have different
kinds of coins in their collections or for souvenirs. Many times they are used
as traditional gifts for special occasions. These coins are not considered to be
practical gifts, bur are commemorative items that can be kept for years as
special souvenirs when received by a special friend or loved one.
There is a strong demand for these coins among people who are collectors as they
may have significant meaning to them. Others will want them to remember an
important day or occasion. The mint date and the event celebrated by the coin
could be one factor people consider them collectible items.
Since the 1970s, the individual coins were available in the market every year,
but are now available as sets in packages or in special displays. Many
collectors say that one reason they are marketed this way was the depreciation
of their value starting in 1971. The introduction of the euro may also be a
factor.
There are countries that have produce commemorative coins and used these coins
for propaganda. There were monarchs who issued coins to commemorate past or
current events and/or celebrations that recognized their authority.
The half dollar was produced in 1892 to commemorate the Columbian Exposition in
Chicago. This was a celebration to mark the 400th anniversary of the expedition
of Christopher Columbus and his discoveries in the world.
During the following year, the first quarter dollar commemorative was introduced
to signify the Exposition as well, but it also gave honor to queen Isabella of
Spain. She was the one who “back-pedaled” the political agendas on Women Rights.
The first commemorative coins that were made of silver were introduced in the
1900s. The coins were minted in honor of Lafayette and George Washington. In the
following years, the half dollar coin was denominated, and the legal tender
commemorative coins were created to mark celebrations rather than historical
events. These coins are recognized today as classical sets of special coins of
historical events between the years1892 - 1954.
It was in 1932 that the Washington quarter dollar was released as the United
States’ second commemorative coin in its denomination. It was issued for the
200th birth anniversary of George Washington. The coin also continues its
circulation as a commemorative coin because of its popularity.
It was uncharacteristic to circulate a commemorative coin of the 1892 - 1954 era
in the United States because the government had not intentionally put them into
circulation, (they were not legally approved by the government for public use)
so collectors will not pay the premium costs of these coins that are still in
the market.
In 1975, that the Bicentennial quarter was introduced. It became the second
circulating commemorative coin in the country, while the silver dollars and half
dollars (1776 – 1976) were reissued as a special collector’s edition.
Many collectors have different agendas when collecting these coins. Some prefer
commemorative coins from 1892 - 1954 while most collectors choose the modern
editions. They know that these coins have different values depending on the
series and/or editions.
Although there have been different series released, a proposal was submitted to
congress that would mark the Lincoln cent for his birth anniversary. No one
knows whether or not the 1-cent denomination commemorative coin will be minted.
The confusing part of these commemoratives that are circulating is the pattern
of the denomination. The 1776-1976 commemoratives half-dollar and silver dollar
may not be included in collections because of their scarcity. Most of the coins
that are circulating are the quarter dollar coins. It should be an interesting
development for the proposed circulation of the one cent commemorative coin.
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