Dollar’s Size Hurts Chance for Revival
Question: I realize your column is mostly devoted to rare coins, real or imagined, so although my question is a bit out of the mainstream I hope you will consider answering it. What I would like to see is Susan B. Anthony’s birthday, Feb. 15, 1820, become a national celebration, not as a paid holiday but as a day when the dollar coin, minted in her memory, is used to purchase goods and services.
It would not only be a wonderful way to honor the woman who was instrumental in getting the vote for so many, it might even help promote circulation of millions of Anthony dollars now sitting in the mint. Previously, I contacted advice columnists and a former Treasury secretary but received no specific assistance from them.
Will you please advise me how to go about accomplishing my goal?--M.A.
Answer: The Anthony dollar is one of the colossal failures of modern coinage. Millions and millions of these dollars were minted between 1979 and 1981. Unfortunately, as you suggest, millions and millions still reside in government vaults, unloved and unwanted.
The reason is a basic flaw in the design. The Anthony dollar is so similar in size to the quarter that it is easily confused for a coin worth only one-fourth as much. It didn’t take consumers long to decide the confusion was not worth the monetary risk, and Anthony dollars fell from disfavor to disuse.
It’s a pity too, because the Anthony dollar represented the first time that a woman, besides Miss Liberty, was honored on a circulating United States coin. But the coin didn’t circulate, and I’m not sure that any organized effort on your part or others will ever be successful.
The problem lies with the basic concept of the coin’s size. It’s likely that the Anthony dollars still in the vaults will eventually be melted down. Feminists would probably be better served by petitioning Congress to approve a new Anthony dollar--or some other denomination--that the public would accept.
Q: Could you give me some information as to the relative value of a 1-cent coin that I have. It is dated 1964, but is not the same size as the regular one now in use. It is so small you can hardly pick it up. It has a picture of Abe Lincoln on one side.--J.S.
A: Your coin is a novelty, produced perhaps by someone attempting to make a comment about how our spending power has shrunk. But it is not a coin in the true meaning of the word and it has no numismatic value.
Q: I have what I’m guessing is an Olympic gold medal from 1932, a commemorative medal, that is. It is quite heavy and has been in the family a long time. Where can I go to learn its worth?--B.G.
A: To determine its worth you’ll have to identify the medal. There are books on the subject; perhaps your local library can help you. There are also dealers who specialize in medals. You’ll have to make the rounds but you might get lucky and find an Olympics specialist. It’s hard to tell with commemoratives, but Olympic gold medals themselves (they’re not really gold, I understand) sell for about $475 to $1,500, depending on the condition.
Coin News
Two sales are being conducted by Pacific Coast Auction Galleries in conjunction with the 11th annual Long Beach Numismatic and Philatelic Exposition. Certsale VII leads things off Wednesday at 7 p.m. with more than 600 lots of certified coins, including the 1827 $5 gold piece (pictured) graded MS-63 by the Numismatic Guaranty Corp. A three-session general auction will be held Wednesday at 9 p.m.; next Thursday and June 1 at 7 p.m. at the Long Beach Convention Center. Certsale catalogues are $5, general catalogues $10 from Pacific Coast Auction Galleries, 1013 State St., Santa Barbara, Calif. 93101; telephone collect (805) 962-3197.
New issues are the lifeblood of numismatics, so collectors should be pleased to learn that beginning June 1 they can begin ordering commemoratives marking the bicentennial of Congress. Orders received before July 17 will be discounted with the 50-cent proof selling for $7, the $1 proof is $25 and the $5 gold proof is $195. Half-dollar and dollar sets are $31.50; sets of all three are $220. Uncirculated pieces are $5 for the half dollar; $23 for the $1 and $185 for the $5. Order after June 1 from the U.S. Mint’s Customer Affairs Staff, 10001 Aerospace Road, Lanham, Md. 20706.
Canada, which for the last several years has issued some beautiful coins, has come up with two more winners: a 1989 silver dollar commemorating the exploration of the Mackenzie River, and a $100 gold proof commemorating the 350th anniversary of the first European settlement in Ontario. The gold piece is $210. The silver proof dollar is $18.80; uncirculated it’s $13.90. Order from the Royal Canadian Mint, P.O. Box 457, Station A, Ottawa, Ontario, Canada, K1N 8V5; telephone (800) 267-1871.
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.