OMRA

James B. Lonacre was the fourth Chief Engraver of the United States Mint. He was given the task of designing the new double eagle, which was authorized as largest circulating denomination following the the vast discoveries of gold in California. Previously, the eagle with a value of ten dollars was the highest denomination. With a value of twenty dollars, the new coins were naturally called double eagles.

The first coins were struck on December 22, 1849. There were originally two examples of the 1849 Double Eagle produced, one of which went to the Mint Cabinet and eventually the Smithsonian Institution’s collection. The other was sent to Treasury Secretary William M. Meredith, but was eventually lost to time. This represents one of the great rarities in American numismatics, although it almost certainly will never be available for a private collection. The coin remains one of the key attractions of the Smithsonian’s National Numismatic Collection.

The first coins were struck for circulation around January 26, 1850. The large sized gold coins were struck at the Philadelphia Mint in relatively high numbers. By the end of  the year, the total mintage had reached 1,170,261 pieces. As the first regular year of production for the Liberty Double Eagle, this is a popular issue. It remains relatively affordable in circulated grades, but becomes expensive in higher states of preservation.

Longacre’s design would remain in use from 1849 until 1907. Of all the series, he designed, this would be the one with the longest duration. He is also remembered for the Flying Eagle Cent, Indian Head Cent, and $1 Gold Coins. His design for the double eagle would experience a few minor modifications during the course of use, such as the change of the denomination from “Twenty D.” to “Twenty Dollars” and the addition of the motto “In God We Trust”.

Today, Liberty Double Eagles are highly collectible. The series has its share of rarities including proof only issues and some coins with exceedingly low mintages. Completion of an entire set is something very few collectors have the budget or patience to attempt.

The Sacagawea “Golden Dollar” was introduced with a great amount of fanfare in the year 2000. The United States Mint unleashed a number of television commercials and print advertisements promoting the new coin as a replacement for the dollar bill. Numerous special events were held to mark the coins initial production and release into circulation. For the first year of issue, more than 1.2 billion coins were produced for expected use within circulation.

Despite, a relatively high level of awareness for the new dollar coin created by the advertising campaigns, widespread use within circulation never took place. By the second year of issue, overall mintage for Sacagawea Dollars had dropped to 130 million coins, many of which remained in vaults and never reached circulation. By the third year, production for circulation ceased. For the next five years, the coins would only be struck in limited numbers to fulfill the demand from collectors.

In 2009, Sacagawea got a second chance. A new series was authorized known as the Native American Dollars. This series would use the obverse design of the original series, paired with an annually rotating reverse design to highlight the accomplishments or contributions of Native American people. The obverse would see a slight change with the movement of the date and mint mark to the edge of the coin, where it would be inscribed along with the motto “E Pluribus Unum.”

By law mintages for the new Native American Dollar coins are required to be at least 20% of the overall production of dollar coins. This results an ensured heavy mintage for circulation. In 2009, there were more than 70 million coins produced. The question remains as to whether these are really finding their way into circulation.

The US Mint has been distributing the coins primarily through their Direct Ship Program. Individuals or business can purchase $250 quantities of the coins for face value with no charges for shipping. Early in the program many people took advantage to earn credit card rewards points, and simply dumped the coins off at their local bank.

Time will tell how this second chance works out. The series is authorized to run concurrently with the Presidential Dollar program, which will last until at least 2016.

James Earle Fraser created a new design for the circulating five cent nickel featuring a Native American chief on the obverse and an American Bison or Buffalo on the reverse. His design would be used from 1913 to 1938 for the Buffalo Nickel. The enduring popularity of the uniquely American design would cause it to be revived for use on a silver dollar and 24 karat gold coins in modern times.

The image of the Native American is actually based on a composite of three real life subjects. Iron Tail of the Sioux, Two Moons of the Cheyenne, and John Big Tree of the Seneca Nation had each posed for him years earlier. The image of the Buffalo is believed to be modeled from Black Diamond of the New York Central Park Zoo, although positive identification has never been established.

After its appearance on the circulating nickel, Fraser’s design made its first reappearance in 2001 when a commemorative silver dollar was issued for the National Museum of the American Indian of the Smithsonian Institution. The design was made to reuse the classic design for this purpose and the 2001 Buffalo Silver Dollar was born. These coins were struck in 90% silver with a diameter of 38.1 mm. The maximum authorized mintage of 500,000 completely sold out at the United States Mint.

A few years later when a 24 karat gold bullion coin was conceived, Fraser’s design was tapped again. The American Gold Buffalo was authorized under Public Law 109-145, which also brought us the Presidential Dollar coin series. The new Gold Buffalo coins would be minted in one ounce of 24 karat gold and available in bullion and collectible proof versions. The law does provided that unique obverse or reverse designs could be used after the first year of release, but so far the US Mint has chosen to use the original design in full for all coins issued 2006 to present.

The continued re-use of the original design for the Buffalo Nickel and strong collector interest in these offerings is a testament to the uniquely American imagery created by James Earle Fraser.

Abraham Lincoln was born on February 12, 1809. The bicentennial or 200th anniversary of his birth took place during the year 2009. To celebrate the event, special coins were issued for circulation and a commemorative coin was issued to collectors. These Congressionally authorized coins provided a reminder of the life and legacy of the 16th President of the United States.

The Lincoln Cent has been issued since 1909. This coin was first introduced to celebrate the centennial or 100th anniversary of Lincoln’s birth. The coin has remained in production and circulation for the ensuing 100 years. It was fitting to celebrate the next century mark with a redesign for the iconic coins. The 2009 Lincoln Cents featured four different reverse designs, each representing a different stage in the life of Abraham Lincoln.

The first design depicts a log cabin and is intended to represent his birthplace and humble childhood upbringing. The second design depicts a young Lincoln taking a break from a job of work splitting logs in order to read a book. The third design shows a young professional Lincoln during his years practicing law. The fourth and final design is a simple depiction of the half completed Capitol Dome.

The new penny designs were released periodically throughout the year during 2009. The first release was scheduled for February 12, 2009, to coincide with the exact 200th anniversary of Lincoln’s birth. The coins were issued for circulation so that the public would be able to find the new coins in change from commercial transactions.

A separate commemorative coin was struck in silver and offered for sale to collectors in limited quantities. The 2009 Lincoln Commemorative Silver Dollar was also released on February 12, 2009, but not put into circulation. Rather the issue represented a legal tender non circulating commemorative that was sold to collectors at a premium price. The obverse of the coin featured a portrait of Lincoln and the reverse featured the closing words of his famous Gettysburg Address.

To top off the celebrations, a final new reverse design was created for the penny. This one focused on his legacy of keeping the United States a single and united country. A depiction of the union shield was used for this purpose. These coins were issued for circulation and the design will be used for the foreseeable future.