The Albany Charter Half Dollar: A Historical Coinage Mystery
Imagine a coin that tells the story of a city’s founding and growth, a piece of history that was struck to celebrate 250 years since Albany received its municipal charter in 1686. The Albany Charter half dollar, minted in 1936, is just such a coin. But what makes this commemorative piece so intriguing? Let’s dive into the story behind it.
The Birth of an Idea
Wasn’t every city proud to have its own commemorative coin? In 1936, the United States Bureau of the Mint struck a half dollar to honor Albany. The design was entrusted to Gertrude K. Lathrop, who created models that were approved by the Commission of Fine Arts in September 1936. The obverse features a beaver gnawing on a maple branch, symbolizing growth and fertility, while the reverse shows Schuyler and Livingston taking leave of Governor Dongan, with symbols representing Albany’s community growth and local aspirations.
A Committee for Sales
The Albany Dongan Committee was formed to sell these half dollars at face value or a premium. The proceeds were meant to defray the cost of anniversary celebrations. But how did they fare in the market? Despite initial enthusiasm, sales were unexpectedly low due to the commemorative coin mania abating by the time the Albany piece became available.
Design and Symbolism
The design was praised for its pleasing appearance and historical significance. The obverse features E PLURIBUS UNUM to the left and IN GOD WE TRUST to the right, with a small pine tree visible behind Dongan. Above the group is an eagle and LIBERTY. On the reverse, Schuyler and Livingston are depicted taking leave of Governor Dongan, surrounded by symbols representing Albany’s growth and local aspirations.
Market Fluctuations
The market for these coins has seen its ups and downs. In 1940, retail prices dropped to $1.50 but recovered by 1950. By the 1980s, uncirculated coins could fetch up to $80 and $400. By 2009, an uncirculated coin could be worth as much as $470. The original packaging, including a booklet and envelope, is highly collectible. Boxes designed for individual coins are rare and valuable, with some selling for over $3,000.
Legislative Oversight
The Albany Charter half dollar was part of a broader discussion on commemorative coin issuers. In 1936, the Senate Committee on Banking and Currency examined abuses in the issuance of such coins. They noted issues where coins were issued at different mints with different mint marks. This led to proposed amendments that imposed restrictions, including a one-year limit for issuance from the Mint after enactment.
Conclusion
The Albany Charter half dollar is more than just a piece of metal; it’s a testament to history and the enduring spirit of a city. From its design to its market value, this coin tells a story that continues to captivate collectors and historians alike. As we look back at its journey, one question remains: what other stories lie within the coins we hold in our hands?
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This page is based on the article Albany Charter half dollar published in Wikipedia (retrieved on November 29, 2024) and was automatically summarized using artificial intelligence.
