My first pick is the 1992 Columbus Quincentenary issue. After all, what could be more historically important than the 500th anniversary of the discovery of the New World by Christopher Columbus? The coin’s obverse features a representation of Columbus facing a map of the New World, whereas the reverse “shows the Crest of the Admiral of the Ocean Sea,” according to A Guide Book of United States Coins. Mintages follow the pattern of other modern commemoratives, with more than three times as many of the proof (79,730) as of the uncirculated variety (24,329). “Coin Market” values reflect this differential, with the coin listing for $320 in Mint State-65 and $285 in Proof-65. Both of these grades are fictitious, by the way, as virtually all modern commemoratives will grade between MS-68 (or PR-68) and MS-70 (or PR-70). Because of this narrow grade range, I would strongly advise you to avoid paying a premium for a certified piece with a “super” grade, as such grades are actually the norm. A 1993 coin to honor James Madison and the Bill of Rights seems to have a worthwhile theme to me, and the mintages are quite similar to those of the Columbus issue (78,651 vs. 23,266). The values are also similar, with the proof version worth $265 and its uncirculated counterpart worth $325. The coin’s obverse shows Madison studying the Bill of Rights. The reverse displays a quotation by Madison. Dated 1991-1995, we have a set of commemoratives celebrating the 50th anniversary of World War II. The two gold pieces feature a soldier with rifle raised as a symbol of victory on the obverse and a large “V” for victory on the reverse. Mintage of the proof and uncirculated versions were 67,026 and 23,672, respectively, with values of $330 and $360, respectively. 1995 brought a series of coins aimed at raising funds for Civil War battlefield preservation. The pair of gold $5 pieces feature on the obverse a bugler on horseback. Mintages were low for this issue, with 55,246 of the proof version and 12,735 of the uncirculated variety. Values are $535 and $900, respectively. In 1996, a pair of gold $5s was issued to commemorate the 150th anniversary of James Smithson’s gift to establish the Smithsonian Institution in America. Despite the importance of this gift, not many collectors ordered these coins, with the result that the mintages are quite low: 21,772 proofs and just 9,068 uncirculated coins. Values reflect these low mintages, as the proof version is worth $720 and the uncirculated variety a whopping $1,500. 28
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The 400th anniversary of the founding of Jamestown, Va., was celebrated in 2007.
In 1997, there were two important commemorative gold $5 issues: one honoring Jackie Robinson, who broke the color barrier and was Major League baseball’s Rookie of the Year in 1947; and another commemorating Franklin D. Roosevelt, our country’s only fourterm president. Despite the importance of Robinson’s accomplishments, fewer than 30,000 of the two gold pieces were ordered, with approximately four times as many proofs as uncirculateds (24,072 and 5,174, respectively). Values reflect this differential, with the proof version listed at $900 and the uncirculated variety at $5,750! If Barack Obama has been elected president by the time you read this, increased demand for these coins may push the prices even higher. The mintages of Roosevelt’s two gold $5s followed the usual pattern, with nearly three times as many proof coins (29,474) as uncirculated pieces (11,894). The listed values are $565 and $1,100, respectively. In 1999, the Mint commemorated the bicentennial of George Washington’s death with a pair of gold $5s. The obverse shows Washington’s bust in profile, whereas the reverse features a large eagle. Mintages were 41,693 of the proof variety and 22,511 of the uncirculated version. Despite the nearly two to one differential, both varieties have the same list price, $475. Surely the uncirculated version is a better buy. In my opinion, the next commemorative gold $5s with an important theme were issued in 2007. These are the coins struck to commemorate the 400th anniversary of the founding of Jamestown,
Va., which was the first permanent English settlement in North America. The obverse shows Capt. John Smith, with his ship in the background, greeting (or being greeted by) an American Indian. The reverse depicts Jamestown Memorial Church. With unknown final distribution numbers, the uncirculated and proof versions list for $285 and $275, respectively. Of the gold $10 commemoratives, only the Bicentennial of the Library of Congress and the First Flight Centennial have worthwhile themes, in my opinion. The other $10 issues were all to celebrate the Los Angeles Olympics in 1984. Obviously, if you’re into U.S. coins honoring the Olympics, then you’ll want to take a look at these issues, all of which are priced at their bullion value. As such, they represent an interesting alternative to standard American gold bullion coins. The 2000 Library of Congress $10s are particularly interesting because they are bimetallic coins consisting of an outer ring of gold enclosing a platinum center. The distribution was just 27,445 proofs and 7,261 of the uncirculated variety. Values are $1,350 and $3,600, respectively. Given the unique metallic composition and the minuscule mintages, these values may be quite reasonable. The First Flight Centennial issue is dated 2003, and, as you would suspect, features busts of Orville and Wilbur Wright on the obverse, with their plane and an eagle on the reverse. Just 10,009 of the uncirculated variety were distributed, whereas the proof issue has a mintage of 21,676. The uncirculated version lists for $625, the proof variety for $560. Keep in mind that I haven’t discussed all the commemorative gold $5s and $10s. It’s entirely possible that you’ll find some that I dismissed both interesting and attractive. As you can see from my discussion, many of the coins have interesting themes, attractive designs, and super low mintages. In terms of mintages, the uncirculated varieties represent the better buys, particularly if they’re not significantly more expensive than their proof counterparts. Also, given the trend toward lower and lower mintages, it’s entirely possible that future issues will do well on the secondary market, which means that you might want to consider ordering them directly from the Mint rather than waiting to see how they will do. The bottom line on this discussion is that if you’re thinking about putting some money into gold coins, you should certainly consider modern gold commemoratives. ❐ COINS JANUARY 2009
10/24/08 4:55:39 PM