Early Commemoratives 1892-1954

Early Commemoratives 1892-1954

Use of coinage to commemorate military and naval victories, major civic events and anniversaries is nearly as old as coinage itself. Some in the numismatic community insist that the 1848 CAL. quarter eagle was the United States first coin with commemorative intent, but the 1892 half dollar issued for the Worlds Columbian Exposition is generally recognized as the first U.S. coin designed and struck solely for commemorative purposes. From a small beginning in 1892, U.S. commemorative coinage gathered momentum in the 1920s and enjoyed a full-scale speculative boom in the mid-1930s. The marketing techniques of special commissions set up to conduct sales sparked accusations of over-charging and private profit-making. Citing marketing abuses, the U.S. Treasury opposed commemorative issues and effectively brought a close to the Early Commemorative period at the end of 1954.