Delaware Tercentenary half dollar
United States | |
Value | 50 cents (0.50 US dollars) |
---|---|
Mass | 12.5[1] g |
Diameter | 30.61[1] mm (1.20 in) |
Thickness | 2.15 mm (0.08[2][3] in) |
Edge | Reeded[1][a] |
Composition |
|
Silver | 0.36169 Assay Commission and 4,022 later melted. |
Mint marks | None, all pieces struck at Philadelphia Mint without mint mark[1][4] |
Obverse | |
Design | Old Swedes Church |
Designer | Carl L. Schmitz |
Design date | 1936 |
Reverse | |
Design | Kalmar Nyckel |
Designer | Carl L. Schmitz |
Design date | 1936 |
The Delaware Tercentenary half dollar (also known as the Swedish Delaware half dollar) is a commemorative fifty-cent piece struck by the
Authorizing legislation for the coin passed Congress in early 1936. Although there was no opposition, the legislation was changed to add protections for collectors against abuses, such as low mintages or strikings at multiple mints, which marked some commemorative coins at that time. Once the coin was authorized, the Delaware Swedish Tercentenary Commission (DSTC) held a competition to design the coin, judged by Mint Chief Engraver
The coins were produced at the Philadelphia Mint in March 1937, and were then sold to the public by the DSTC for $1.75 each. Of the 25,000 coins minted for sale, 20,978 were sold, and the profits used to help fund the tercentenary celebrations. The Delaware Tercentenary half dollar sells in the low hundreds of dollars, though exceptional specimens have sold for more.
Background
The first attempt at European settlement in what is now Delaware occurred in 1631 near
Until 1954, the entire mintage of each commemorative coin issues issue was sold by the government at face value to a group named by Congress in authorizing legislation, who then tried to sell the coins at a profit to the public. The new pieces then entered the secondary market, and in early 1936 all earlier commemoratives sold at a premium to their issue prices. The apparent easy profits to be made by purchasing and holding commemoratives attracted many to the coin collecting hobby, where they sought to purchase the new issues. The growing market for such pieces led to many commemorative coin proposals in Congress, to mark anniversaries and benefit (it was hoped) worthy causes.[8] Unlike other commemoratives of the time, the reason for minting the Delaware half dollar was not greed; it was felt that the 300th anniversary of the first settlement in Delaware, the first state, was worthy of commemoration.[9] The designated organization to purchase the Delaware half dollars was the Delaware Swedish Tercentenary Commission (DSTC), acting through its president.[2]
Legislation
A joint resolution authorizing 20,000 commemorative half dollars for the 300th anniversary of Swedish settlement in Delaware was introduced into the United States Senate by Joseph F. Guffey of Pennsylvania on March 4, 1936. It was referred to the Committee on Banking and Currency.[10] and was one of several commemorative coin bills to be considered on March 11, 1936, by a subcommittee led by Colorado's Alva B. Adams.[b][11]
Senator Adams had heard of the commemorative coin abuses of the mid-1930s, when issuers increased the number of coins needed for a complete set by having them issued at different mints with different mint marks; authorizing legislation placed no prohibition on this.[12] Lyman W. Hoffecker, a Texas coin dealer and official of the American Numismatic Association, testified and told the subcommittee that some issues, like the Oregon Trail Memorial half dollar, first struck in 1926, had been issued over the course of years with different dates and mint marks. Other issues had been entirely bought up by single dealers, and some low-mintage varieties of commemorative coins were selling at high prices. The many varieties and inflated prices for some issues that resulted from these practices angered coin collectors trying to keep their collections current.[13]
No further action was taken on that joint resolution, but on March 16, Guffey and Delaware's Daniel O. Hastings introduced a new one. Among the changes made were requiring that the president of the Delaware Tercentenary Commission sign off on coin orders from the Mint, rather than requiring the chairman of the commission's coinage committee to be the one responsible.[10][14] Nevertheless, when Adams reported the joint resolution back to the Senate on March 26, he attached an amendment entirely rewriting the bill, and explained in an accompanying report, "The bil above referred to contains certain provisions which the committee recommend be eliminated not only from such bil but also from all subsequent bills relating to the issuance of commemorative coins. One of these provisions would have allowed the coins to be issued at several mints and another provision would have permitted the coins to be issued at such times and in such amounts as the committee or other body in charge of the commemorative exercises might determine."[15] He stated that "the committee recommend that the issuance of the coins be limited to one mint to be selected by the Director of the Mint and that not less than 5,000 such coins be issued at any one time".[15]
The joint resolution was brought to the Senate floor on March 27, 1936, the first of six coinage bills being considered one after the other. Like the others, it was amended and passed without recorded discussion or dissent.[16] In the House of Representatives, the bill was referred to the Committee on Coinage, Weights, and Measures. That committee reported back on April 16, with an amendment that raised the minimum mintage to 25,000.[17] On April 30, J. George Stewart of Delaware brought the bill to the House floor and it passed without discussion or dissent.[18]
As the two houses had not passed identical versions, this sent the bill back to the Senate. On May 4, Adams moved that the Senate agree to the House amendment, which it did;[19] the bill became law, authorizing not fewer than 25,000 half dollars, with the signature of President Franklin D. Roosevelt on May 15, 1936.[2] The bill was signed despite the fact that the Treasury Department opposed it and prepared a draft veto message;[20] that department feared that the many commemorative coin issues would cause public confusion and embolden counterfeiters.[21] The striking was only allowed to take place at a single mint, all pieces to be dated 1936 and to be issued by the Mint within a year of the bill's enactment, thus not later than May 15, 1937.[9]
Preparation
On May 18, 1936, the DSTC's general secretary, George Ryden, wrote to the Assistant Director of the Mint,
The designs were received by the
Design
Mint records consider the side with the church as the obverse, though the DSTC considered it to be the side with the ship; numismatic author Q. David Bowers wrote that collectors have come to agree with the Mint,[25] though Anthony Swiatek, in his 2012 volume on commemoratives, note that some collectors and dealers dissent.[26] Consecrated in 1699, Old Swedes Church has been described as the oldest Protestant church building in the United States still used for worship.[27] Swiatek and Walter Breen, in their earlier volume, note that the church is depicted as it appeared, not in 1699, but following the addition of a tower and belfry in 1802. Above the church the Sun is depicted with its rays piercing the clouds; Swiatek and Breen suggested this symbolic of divine protection despite adversity.[28] The year 1936 appears, as required by the authorizing law, and between the year and the church is the motto, IN GOD WE TRUST. Ringing the design are the name of the issuing country, and the coin's denomination.[29]
The reverse depicts the Kalmar Nyckel—the name means "Key of
In his 1938 monograph on commemorative coins, David Bullowa wrote of the Delaware half dollar, "The design of this coin is effective and simple. The legends are particularly clear, and the coin as a whole is very tastefully wrought."
Distribution
A total of 25,015 coins were minted in March 1937 at the
Proceeds from the coin were used to fund local celebrations of the anniversary, which were held in Sweden and in the United States in 1938. Sweden also issued a commemorative coin for the anniversary, a 2-kronor coin depicting the Kalmar Nyckel.[30] These were promoted by American coin dealers such as Wayte Raymond of New York, who was involved in the US distribution of the Swedish coin, as collectable alongside the Delaware half dollar.[25] With a mintage of 508,815 it remains readily available.[35] There were also several privately produced medals, and a new stamp from the United States Post Office Department was issued at Wilmington on June 27, 1938.[c][36]
By 1940 the Delaware piece sold for about $1.50 in uncirculated condition, though this went up to $2.75 by 1950, $18 by 1960, and $350 by 1985.
Notes
- ^ The edge is ridged, or milled.
- Bridgeport Centennial half dollar, Rhode Island Tercentenary half dollar, New Rochelle 250th Anniversary half dollar, House and Senate versions of the Long Island Tercentenary half dollar, and an unsuccessful proposal for a half dollar honoring William Henry Harrison. In addition, there was a proposal for a new design for the multi-year Arkansas Centennial half dollar, which would pass, and a similar request for the Texas Centennial half dollar, which would fail alongside bills for commemorative medals for Jefferson Davis and Robert E. Lee, a proposal to revive the three-cent nickel, and a bill to declare it the policy of the U.S. to strike commemorative medals instead of commemorative coins.[11]
- ^ The three-cent stamp has Scott Catalogue number 836.[36]
References
- ^ a b c d e f g Yeoman, p. 1101.
- ^ a b c Flynn, p. 355.
- OCLC 1123997620.
- ^ "Mint Marks". United States Mint. December 3, 2020. Retrieved April 6, 2021.
- ^ a b Slabaugh, pp. 135–136.
- ISBN 978-0-87586-338-2.
- ^ Swiatek & Breen, p. 79.
- ^ Bowers, pp. 62–63.
- ^ a b c d e f "1936 Delaware 50C MS Silver Commemoratives". Numismatic Guaranty Company. Retrieved April 18, 2019.
- ^ a b "74 S. J. Res. 224". March 4, 1936. Retrieved February 28, 2020 – via ProQuest.
- ^ a b Senate hearings, pp. title page, 1–2.
- ^ Senate hearings, pp. 11–12.
- ^ Senate hearings, pp. 18–23.
- ^ "74 S. J. Res. 231". March 26, 1936. Retrieved February 28, 2020 – via ProQuest.
- ^ a b Senate report, p. 1.
- ^ 1936 Congressional Record, Vol. 82, Page 4489–4490 (March 27, 1936)
- ^ House report, p. 1.
- ^ 1936 Congressional Record, Vol. 82, Page 6495 (April 16, 1936)
- ^ 1936 Congressional Record, Vol. 82, Page 6611 (May 4, 1936)
- ^ a b Flynn, p. 272.
- United States Government Printing Office. pp. 36–38.
- ^ a b Flynn, p. 273.
- ^ Taxay, pp. v–vi.
- ^ a b Taxay, p. 210.
- ^ a b Bowers, p. 348.
- ^ Swiatek, p. 328.
- ^ Swiatek, pp. 328–329.
- ^ Swiatek & Breen, pp. 79–81.
- ^ a b Swiatek, p. 329.
- ^ a b Bullowa, p. 163.
- ^ Vermeule, pp. 200–201.
- ^ Bowers, p. 349.
- ^ "Delaware Swedish Tercentenary half dollar". The Numismatist: 410. May 1937.(subscription required)
- ^ "1936 Delaware Tercentenary Half Dollar Commemorative Coin". Early Commemorative Coins. September 8, 2011. Retrieved February 28, 2020.
- ^ Sweden 2 Kronor KM# 807-1938 G
- ^ a b Swiatek & Breen, p. 82.
- ^ Bowers, p. 350.
- ^ Swiatek, pp. 330–331.
Sources
- ISBN 978-0-943161-35-8.
- Bullowa, David M. (1938). "The Commemorative Coinage of the United States 1892–1938". Numismatic Notes and Monographs (83). New York: JSTOR 43607181. (subscription required)
- Flynn, Kevin (2008). The Authoritative Reference on Commemorative Coins 1892–1954. Roswell, GA: Kyle Vick. OCLC 711779330.
- Slabaugh, Arlie R. (1975). United States Commemorative Coinage (second ed.). Racine, WI: Whitman Publishing. ISBN 978-0-307-09377-6.
- Swiatek, Anthony (2012). Encyclopedia of the Commemorative Coins of the United States. Chicago, IL: KWS Publishers. ISBN 978-0-9817736-7-4.
- Swiatek, Anthony; ISBN 978-0-668-04765-4.
- ISBN 978-0-668-01536-3.
- United States House of Representatives Committee on Coinage, Weights, and Measures (April 16, 1936). To Authorize the Coinage of 50-cent Pieces in Commemoration of the Three-hundredth Anniversary of the landing of the Swedes in Delaware. United States Government Printing Office.)(subscription required)
{{cite book}}
: CS1 maint: multiple names: authors list (link - United States Senate Committee on Banking and Currency (March 11, 1936). Coinage of commemorative 50-cent pieces. United States Government Printing Office.(subscription required)
- United States Senate Committee on Banking and Currency (March 26, 1936). Authorize the Coinage of 50-cent Pieces in Commemoration of the Three-hundredth Anniversary of the landing of the Swedes in Delaware – via ProQuest. (subscription required)
- ISBN 978-0-674-62840-3.
- ISBN 978-0-7948-4705-0.
External links
- Media related to Delaware Tercentenary half dollar at Wikimedia Commons