You've seen those flashy commemorative coins advertised on TV, and wondered if they're worth the high prices. As a collector, you want to know if these coins are the real deal before plunking down your hard-earned cash. We get it - commemorative coins sparkle with promises of preserving history and rising value. But are they more glitter than gold? We'll clue you in on what commemoratives are really worth to collectors like yourself. You'll learn the origins of these coins and why they cost so much more than regular coins. Most importantly, we'll tell you as fellow collectors if commemoratives deserve a place in your collection or not. Read on to get the insider's take and see if commemoratives make cents for you!
What Are Commemorative Coins?
Commemorative coins are special coins issued to honor or commemorate an important person, place, or event. Unlike regular coins used in everyday commerce, commemoratives are not meant to circulate. Instead, they're designed primarily as collectibles, though they are still legal tender.
A Brief History
The U.S. Mint first started issuing commemorative coins in 1892 to raise funds for the World’s Columbian Exposition. Since then, the Mint has released over 100 different commemorative coins honoring everything from presidents to national parks. Though the Mint halted commemorative programs for decades, they started up again in 1982 and continue releasing new commemoratives most years.
Are They Worth Collecting?
For collectors, commemorative coins can be highly desirable, especially rare early issues or those with low mintages. However, their high prices mean that commemoratives are not ideal for new collectors or those on a budget. Many commemoratives do increase substantially in value over time, but there is also a risk of overpaying if you buy them directly from the Mint.
Cost and Legal Tender Status
Commemorative coins typically have face values far below their retail prices. For example, a $5 gold coin might sell for $400 or more! Though legal tender, commemoratives are not meant to be spent - their high values are due to their precious metal content and collectibility. The premiums charged reflect the costs of designing and producing these special coins in small batches.
If you're interested in commemorative coins, do some research to determine good values and understand the factors driving prices. While not for everyone, commemoratives can be a rewarding niche in a well-rounded collection. And who knows - the coins you buy today may end up being valuable heirlooms!
Brief History of Commemorative Coins
Commemorative coins have been issued for over a century to honor important people, places, events or institutions. The first U.S. commemorative coin was released in 1892 to celebrate the 400th anniversary of Columbus reaching the Americas. Since then, the U.S. Mint has produced over 100 different commemorative coins.
The Early Years (1892-1954)
In the early years, commemoratives were seen as a way for the government to raise money for important causes like the 1893 World's Columbian Exposition and the 1916 National Park Service. Coins during this era were made of silver and gold, and featured beautiful and iconic designs that are highly sought after today by collectors.
The Modern Era (1982-Present)
Commemorative coin programs were revived in 1982 with the George Washington 250th Anniversary half dollar. Modern commemoratives are issued as $5 gold coins, silver dollars, and half dollars. While not made of precious metals, many feature innovative new designs and subjects aimed at generating public interest in coin collecting.
Why Collect Commemoratives?
Commemorative coins offer the chance to own a unique piece of history. They feature stunning designs and subjects you can't find on regular U.S. coinage. Collecting commemoratives is also more affordable than ever before thanks to the clad versions first introduced in 1982.
While commemoratives may not gain value as quickly as bullion coins, many earlier silver and gold commemoratives have seen strong price appreciation over time due to their historical significance and scarcity. For any collector, commemoratives should be a fun and rewarding part of a well-rounded collection.
Are Commemorative Coins Legal Tender?
Technically, commemorative coins are legal tender, meaning they can be used as money to pay for goods and services. However, their collectible value is usually much higher than their face value, so no one actually spends them. The US Mint produces commemorative coins to honor and celebrate American history, culture, and values. While they are minted by the US government and denominated in US dollars, they are not intended for general circulation.
Low Mintage, High Demand
Part of what gives commemoratives their worth is their limited mintage. The US Mint produces most commemoratives in limited quantities, typically around 100,000 coins or less per design. This scarcity, combined with strong demand from collectors, results in high secondary market prices. Some older or more iconic commemoratives like the 1893 Columbian Exposition half dollar or the 1995 Civil War Battlefield coin can sell for $50 to $5,000 or more, depending on their condition.
Premium Prices for Silver and Gold
Many commemoratives also contain precious metals like 90% silver or 24-karat gold, which adds to their melt value. The higher the price of silver and gold, the more these coins are worth. Some gold commemoratives contain one full ounce of gold, which at today’s prices would be worth over $1,500 in gold alone. Of course, collectors pay a premium for the historic significance and beauty of these coins.
A Lasting Legacy
While regular coins are meant primarily for commerce, commemoratives are designed to honor and preserve history. They give us a glimpse into what was meaningful and important at the time of their minting. Commemoratives have celebrated naval heroes, national parks, the Olympics, and technological marvels. They represent the nation's ideals, shared experiences, and civic pride. For collectors, commemoratives offer an opportunity to own a piece of American history and culture.
In summary, while commemorative coins are technically legal tender, their true value lies in their collectibility. Their scarcity, precious metal content, and historic significance give them a worth far beyond their face value. For numismatists and historians alike, commemoratives are a lasting legacy of the American experience.
What Makes Commemorative Coins Valuable?
Commemorative coins get their value from several factors. Unlike regular circulation coins, commemoratives are only issued for a limited time to honor or celebrate a special event or topic. Their scarcity alone ups their appeal to collectors.
Limited Mintage
The mintage, or number of coins produced, is strictly limited. The lower the mintage, the higher the demand and price. Some older commemoratives like the 1893 Columbian Exposition half dollar had huge mintages and are quite affordable today. More recent issues like the 2019 Apollo 11 50th Anniversary commemorative had a mintage of just 70,000 and currently sells for a premium.
Precious Metal Content
Commemorative coins are often made of silver, gold, or platinum. The intrinsic value of these precious metals contributes to their worth. Silver commemoratives contain one ounce of .999 fine silver, so at a minimum they're worth the current price of silver. Gold coins contain 1/10, 1/4, or 1 ounce of 24-karat gold. Platinum coins are the rarest and made of one ounce of 99.95% pure platinum.
Subject Matter
The theme or subject of the commemorative also determines value. Coins honoring popular historical events, people or landmarks tend to be in higher demand. The 2019 Apollo 11 design is a perfect example. Space and astronomy themes have avid followings. In contrast, the 1992 White House Bicentennial silver dollar is less sought after. Coins with beautiful and unique designs also tend to appreciate more over time based on their artistic merit.
Condition
As with all coins, the condition or grade has a huge impact on a commemorative's worth. Flawless specimens in pristine condition are the most prized by collectors and receive the highest prices. Even slight imperfections or signs of wear can significantly reduce value. It really pays to keep commemoratives in their original government packaging to preserve their condition.
If you consider all these factors, commemorative coins can be a rewarding collectible. Their scarcity and precious metal content provide a solid base of value. But their historical significance and artistic design are what truly capture the interest of collectors and drive their long term worth.
Popular Commemorative Coin Series
One of the most popular commemorative coin series is the American Silver Eagle. First released in 1986, the Silver Eagle is 99.9% silver and honors the nation’s history and values. New designs are released annually, with limited mintages that can increase the collectability. Some rare, low-mintage issues like the 1995-W Silver Eagle can sell for thousands.
State Quarters (1999-2008)
The State Quarters program featured unique designs for each US state on the reverse of quarters. It was a fun way for collectors to learn about America’s diverse geography and history. While state quarters are still found in circulation, uncirculated specimens and proof sets can be purchased from the Mint. Some of the scarcer state quarters like Wisconsin and Minnesota can sell for a premium.
American Gold Eagle (1986-present)
Like the Silver Eagle, the American Gold Eagle features Lady Liberty and is made of .999 fine gold. Denominations include $5 (1/10 oz), $10 (1/4 oz), $25 (1/2 oz), and $50 (1 oz). The 1 ounce gold eagle is the most popular, and prices closely follow the gold spot price. Gold eagles are a simple way to invest in physical gold bullion.
The US Mint frequently releases commemorative coins to honor important people, places, events or institutions. While the surcharges do increase the cost, the historic significance and artistic beauty of commemorative coins make them worthwhile for any collection. Limited mintages and inclusion of precious metals also give many commemoratives the potential for strong secondary market performance over time.
Whether you’re a casual collector or serious numismatist, commemorative coins allow you to hold a tangible piece of American history in your hands. Their timeless stories provide an opportunity to connect with the nation’s rich cultural heritage. Isn’t that worth the investment?
Where to Buy Commemorative Coins
Commemorative coins can be purchased from several reputable sources, depending on the specific coins you’re interested in collecting. The U.S. Mint is an obvious choice, as they produce commemorative coins to honor important aspects of American history and culture. You can buy directly from the U.S. Mint website or at Mint locations in DC and Denver.
Coin Dealers and Collectors
For more unique or historic commemorative coins, check with coin dealers who specialize in commemoratives and rare coins. They frequently buy and sell coins from private collectors and estates. You may be able to find a key date or mint commemorative coin that is difficult to source elsewhere. However, expect to pay a premium over the initial issue price.
Online Auction Sites
Websites like eBay, Heritage Auctions, and GreatCollections are popular places where coin collectors and dealers buy and sell commemorative coins. You may be able to snag a good deal on coins in average condition. Be wary of counterfeits though, and only buy from reputable sellers. Do research on the coin’s specs and check the seller’s reviews and ratings before bidding or buying.
Coin Shows
Another option is attending a local coin show in your area. Many serious collectors and dealers rent tables to display and sell their coins. You can examine the coins in person, determine their condition and authenticity, and potentially negotiate the best price. Check with national organizations like the American Numismatic Association or your local coin club to find shows near you.
By using a combination of these sources, you'll increase your chances of finding that one special commemorative coin to add to your collection. Whether you're just starting out or have been collecting for years, there are always new treasures to uncover in the world of commemorative coins. The thrill of the hunt and reward of a new discovery awaits!
How to Store and Protect Your Commemorative Coins
Keep Them in a Safe Place
The most important thing you can do is keep your commemorative coins in a secure location. A locked safe or cabinet is ideal. If that’s not possible, at least find a spot that is not easily accessed. Commemorative coins are valuable collector’s items that can be attractive targets for theft. Keeping them under lock and key will give you peace of mind that your investment is protected.
Use Proper Holders
Store your commemorative coins in holders specifically designed for collectible coins. Plastic or acrylic coin holders, folders, and albums will keep coins safely housed while also allowing you to enjoy viewing your collection. Avoid using materials that can potentially damage coins like PVC plastics. Make sure holders are properly sized for your coins.
Control the Environment
Keep your commemorative coins in an area with a stable environment. Extreme heat, cold, or humidity can speed up the deterioration process. Aim for temperatures between 65 to 70 degrees Fahrenheit and 40 to 50 percent relative humidity. And avoid locations with direct UV light exposure when possible.
Handle With Care
Always handle commemorative coins carefully by the edges. The oils from your hands can damage the surface and patina of coins over time. Gloves are a good option, especially when handling proof or uncirculated coins. Also, avoid dropping, scratching, or nicking coins which can significantly impact eye appeal and value.
Document Your Collection
Keep good records of your commemorative coin collection including details like date of purchase, grade, price paid, and current market value. This documentation will help you keep track of your investment and may come in handy for insurance purposes should anything happen to your collection. Photos are also a great idea.
By properly storing, handling and documenting your commemorative coins, you can keep your collection in the best condition possible while maintaining its sentimental and monetary value over the years. Protect your investment—these best practices are worth the effort.
Building a Commemorative Coin Collection
Building a collection of commemorative coins can be an enjoyable hobby. These special coins honor and celebrate important people, places, events or institutions. Commemorative coins allow you to own a piece of history and can be exciting to collect. Where do you start?
First, determine a theme to focus on. Do you want to collect coins honoring presidents, national parks or sports teams? Choosing a theme will make your collection cohesive and help guide which coins you purchase.
Next, buy a display album or holder for your collection. Commemorative coins deserve to be shown off and protected. An album will keep your coins scratch-free and organized. You can find albums for specific commemorative series or generic albums you label yourself.
Then, start purchasing coins! Buy from reputable dealers either online or at a coin shop. Check the coin’s condition and grade to determine its value. Mint condition coins will hold their value the best over time. Buy the highest grade you can afford.
Be on the lookout for limited editions and first releases. These coins tend to increase the most in value over time. But buy what you like—your collection should be meaningful to you. Mix in both uncirculated and proof coins for variety.
Finally, keep good records of your purchases including receipts in case you ever want to sell or get coins appraised. Note details like the coin’s subject, year of issue, mintage, condition and what you paid.
Building a commemorative coin collection takes time but can be gratifying. With so many subjects and designs to choose from, you’ll never run out of pieces to add to your collection. Do your research, buy smart and curate a collection you’ll cherish for years to come. The historical significance and nostalgia these coins evoke make them worth collecting.
Commemorative Coin FAQs: Your Top Questions Answered
As a collector, you likely have some burning questions about commemorative coins. Here are the answers to the most common commemorative coin FAQs:
Are commemorative coins legal tender? Technically, yes. Commemorative coins are approved by the U.S. Mint and issued at face value, so they can be used as legal tender. However, their collector value is usually much higher than face value, so most collectors don’t actually spend them.
Why are commemorative coins more expensive? Commemorative coins are priced higher than regular coins because they are specially minted in limited quantities as collectibles. They feature unique designs to honor a person, place, or event. Their scarcity and collectibility drive the higher prices.
Are commemorative coins a good investment? Commemorative coins can be a good investment for collectors. Their limited mintage and artistic designs give them strong collectibility and the potential for price appreciation over time. However, there is always a risk that certain coins may decrease in value. For the best results, choose coins honoring historically significant topics or with very low mintages.
Should I buy proof or uncirculated commemorative coins? For most collectors, proof commemorative coins are preferable. Proof coins are specially handled and struck multiple times to create mirror-like fields and frosted designs, resulting in a higher quality, eye-appealing finish. Uncirculated coins will still be in pristine condition but lack the mirror finish and sharpness of proofs. Proofs do come at a premium, so choose based on your budget and preferences.
How often does the U.S. Mint release new commemorative coins? The U.S. Mint releases new commemorative coin programs about 3 to 5 times each year. Designs are approved by Congress to honor important aspects of American history and culture. New programs are announced in the Federal Register and on the U.S. Mint's website. Release dates vary but are often in the spring and fall.
Following these tips and buying from reputable dealers will help you navigate the world of commemorative coins. Collecting these artistic coins can be a rewarding hobby and even a valuable investment. Happy collecting!
Conclusion
So are commemorative coins worth it? Only you can decide if they're worth the premium price for your collection. They definitely offer beautiful designs and mark special events. But regular issue coins also have appeal and cost less. Consider your budget, personal interests, and how long you plan to hold onto them. Whatever you choose, enjoy building your collection in a way that's meaningful to you. And remember, their value isn't just monetary. The commemoratives you own say something about your passions. Let your coins tell the story of you.