The Rhode Island Tercentenary Half Dollar: A Coin of Controversy and Curiosity
Imagine, if you will, a coin that not only commemorates the founding of a state but also sparks debates about ethics and legislation. The Rhode Island Tercentenary half dollar, struck in 1936, is just such a coin. It’s more than just a piece of metal; it’s a story wrapped in history, design, and controversy.
The Design: A Blend of History and Symbolism
On the obverse side, you’ll find Roger Williams, the founder of Rhode Island, kneeling in a canoe. This image is not just a portrait but a symbol of religious freedom and tolerance. The reverse features an anchor, known as the ‘Anchor of Hope,’ which represents the state’s coat-of-arms. Together, these symbols tell a story of resilience and hope.
Designers: John Howard Benson and Arthur Graham Carey
Benson and Carey, the designers behind this coin, created a design that was both simple and profound. The obverse features Roger Williams in a canoe, while the reverse showcases the anchor from Rhode Island’s seal. This design is based on the seals of Providence and Rhode Island, symbolizing religious liberty and hope.
A Coin That Sparked Controversy
When these coins were first released, they quickly sold out, leading to concerns about the conduct of collectors. The Tercentenary Commission faced lawsuits from coin dealers who accused them of unethical practices. This controversy led to changes in commemorative coin legislation.
The Distribution Dilemma
Grant’s Hobby Shop in Providence was responsible for selling these coins, but they quickly ran out of stock. Out-of-state orders were available through the shop, but insiders managed to sell them at higher prices. This situation raised questions about fairness and transparency.
The Financial Impact: A Profitable Venture
Despite the controversy, the Rhode Island Tercentenary Committee made a profit of $24,000 from the sale of 50,000 coins. About two-thirds of this profit went towards building a memorial to Roger Williams. This financial success highlights the potential for commemorative coins as a source of revenue.
Market Value: A Coin Worth Collecting
Today, these coins are listed for hundreds of dollars depending on condition. The 1936 Rhode Island Tercentenary half dollar is not just a piece of history; it’s an investment in numismatic value. In the Red Book, the coin ranges from $325 to $675 per set, with single coins being about a third of that price.
Lessons Learned: Ethics and Commemorative Coins
The Rhode Island Tercentenary half dollar serves as a reminder of the importance of ethical practices in commemorative coin distribution. The controversy surrounding this coin led to changes in legislation, ensuring more transparency in future issues.
The Rhode Island Tercentenary half dollar is more than just a coin; it’s a piece of history that sparked debates and changes. It reminds us of the importance of ethical practices in commemorative coin distribution, ensuring that future issues are handled with transparency and fairness.
You want to know more about Rhode Island Tercentenary half dollar?
This page is based on the article Rhode Island Tercentenary half dollar published in Wikipedia (retrieved on November 29, 2024) and was automatically summarized using artificial intelligence.
