The following news release was issued by Bonanza
Coins in Silver Spring, Md. Professional numismatist Julian
Leidman says the coin that is the subject of the hunt is circulated,
with a jewelry mount on the edge, and is valued at approximately $300.:
Want to win a 1916 McKinley commemorative gold dollar coin? Bonanza
Coins' Holiday Treasure Hunt is for you!
In celebration of the 100th anniversary of the minting of the scarce
1916 McKinley commemorative gold dollar coin, the Bonanza Coins
Treasure Hunt offers you a chance to win a McKinley gold dollar now
hidden somewhere in the DC Metro area.
Julian Leidman, owner of Bonanza Coins reports: "McKinley
appears on 3 different issues of U.S. commemorative gold coins. Quite fascinating."
Beginning Monday, December 12, 2016, through December 22, 2016,
clues will be available at Bonanza Coins and posted on https://www.facebook.com/Bonanza-Coins-290279734341382/?ref=aymt_homepage_panel,
along with clues tweeted by @fancaster.
The winner will be announced on New Years Day.
About the McKinley commemorative gold dollar
This issue of the McKinley gold dollars of 1916 and 1917 were coined
at the request the National McKinley Birthplace Memorial Association
nearly fifteen years after McKinley’s death at the hands of an
assassin. Proceeds from the sale of the coins were to be used to
construct a memorial in his home town of Niles, Ohio. While the
original request from the association was for commemorative silver
dollars, McKinley’s pro-gold stance in office led Congress to change
the bill to call for gold dollar coins instead. A bill passed on
February 23, 1916, authorized the mintage of up to 100,000
Chief Engraver Charles E. Barber was selected to
design the obverse, and his assistant George T. Morgan was charged with designing the
reverse. Barber was nearing the end of his life, and his obverse was
not well received. The portrait of McKinley didn’t particularly look
like the former president, which is obviously an issue. Around the top
of the periphery are UNITED · STATES · OF · AMERICA, and MCKINLEY ·
DOLLAR is seen below.
Morgan’s reverse was even less
well-received. It features a facing view of the McKinley Birthplace Memorial structure. Not only
is it architecturally inaccurate, but it’s also crudely rendered.
Around the periphery of the coin is MCKINLEY BIRTHPLACE MEMORIAL.
NILES OHIO is above the memorial, divided by a flag pole, and the
date, either 1916 or 1917, is below. When combined with the fact that
these coins are often seen weakly struck, the whole makes for an
aesthetically poor creation.
There were 20,000 McKinley
gold dollars struck in 1916 and a further 10,000 dated 1917 struck in
February of the following year. Some uncertainty exists respecting the
number of each date that was actually sold as well as the number
melted. However, according to B. Max Mehl, a famous dealer of the time
who handled many thousands of the coins, 5,000 of both issues were
melted, leaving a net mintage of 15,000 for the 1916 issue and only
5,000 for the 1917.
For more information and rules, contact: Julian@JulianCoin.com or by