1916 McKinley Dollar Prized by Collectors
Question: What is the value of the U.S. McKinley $1 gold coin? It is dated 1916--McKinley Birthplace Memorial.--L.G.
Answer: Relatively few commemorative gold coins have been issued by the United States. The recent release of the Olympic gold coins and the current offering of the constitutional commemoratives should spur interest in this area.
The McKinley coin was issued in 1916 and 1917 to help finance a memorial for the martyred President. These are relatively low-mintage coins; 9,977 were issued in 1916 and 10,000 in 1917. Only three other $1 commemorative gold pieces have been struck. President Grant memorial dollars were issued in 1922; Lewis and Clark pieces were struck in 1904 and 1905, and Louisiana Purchase Exposition souvenir coins were dated 1903. Interestingly, the likeness of President William McKinley, who sanctioned the Exposition, appears on one of the varieties of this coin. The other variety has the likeness of Thomas Jefferson, who was President when the Louisiana Purchase was made from France.
All of these $1 gold commemorative pieces are prized by collectors. Your $1 McKinley is probably in the $300-to-$1,500 range. However, certain proof specimens run much higher.
Coin News
A reproduction of the back of a series 1886 $2 silver certificate (pictured) will be offered on a souvenir card by the Bureau of Engraving and Printing in conjunction with the American Numismatic Assn. convention Aug. 26-30 in Atlanta. The bureau, which is observing its 125th anniversary, is also offering a commemorative vignette for $11.50 by mail. The souvenir card (Item No. 944) is $4 by mail from the Bureau of Engraving and Printing, Mail Order Sales, Room 602-11A, 14th and C streets, S.W., Washington, D.C. 20228.
Collectors seeking price guides have more than the newly released 1988 edition of A Guide Book of United States Coins by R. S. Yeoman to rely on. The Yeoman work, now in its 41st edition, is commonly known as the Red Book and sells for $6.95 at most coin stores. Also new on the market is the 26th edition (1988) of the Blackbook Price Guide of United States Coins by Marc Hudgeons (Ballantine Books, $3.95) and the companion 1988 Blackbook Price Guide of United States Paper Money (20th edition), also by Hudgeons (Ballantine Books, $3.95). The Blackbooks come in a handy pocket size and should work well for the casual collector. Because the coin market can fluctuate on a daily basis, these annual guides can only be taken as references. However, coupled with accurate grading and market conditions, they can be a useful tool in helping to approximate a coin’s worth. The only true test, of course, is the actual buy or sell price.
Don Alpert cannot answer mail personally but will respond to numismatic questions of general interest in this column. Do not telephone. Write to Your Coins, You section, The Times, Times Mirror Square, Los Angeles 90053.