Mint 1916 Centennial Coins in Silver Too
Many details
need to be worked out especially regarding inscriptions, mintmarks, and how the
designs would be replicated.
Most
collectors are also very excited about this program, but many have expressed
strong interest in seeing them in silver either instead of or in addition to gold
versions. Several members of the CCAC have also expressed interest in silver
versions, but so far only the gold coins are planned.
Proof silver
versions would probably be a big hit since the original coins were not issued
in proof, and a silver set would probably only cost about $100 or less. These coins would likely generate a lot of
revenue for the Mint, and all of that money (after all production and related
costs are recouped) would be sent to the Treasury to pay down the national
debt.
The hitch,
though, is that the Mint does not currently have the legal authority to produce
these coins in silver.
A provision
in the law creating the American Platinum Eagle program gives the Mint broad
discretion when it comes to the minting and designs of gold and platinum coins,
and that provision served as the legal foundation for coins like the 2009 Ultra
High Relief gold double eagle.
But to mint
them in silver the U.S. Congress would need to enact legislation that allows
the Mint to do that since the Mint does not have the authority to mint silver
coins in the absence of legal statutes.
Another
option that has support within the numismatic community and among some members
of the CCAC, including outgoing chairman, Gary Marks, is platinum versions of
the coins. These could be minted under the Mint’s existing statutory authority,
and they would make for an attractive set.
Platinum is
also currently cheaper than gold, and with respective weights of one-tenth, one-quarter,
and one-half ounce, platinum versions are an interesting option that would be
more affordable than gold versions if platinum remains at its current spot
price. The only drawback is that they would still be quite expensive and beyond
the reach of many collectors.
If you think
the coins should be minted in silver, contact your Member of Congress and tell
them about the proposed coins.
At the
moment most people who follow this issue appear to believe that Congress is
unlikely to authorize the silver coins, especially in light of all the
political disarray within that institution.
But if
enough people in Congress become aware of the advantages of minting these coins
in silver, it could still happen.