Commemorative Coins have happen to extremely popular. Several persons desire to have different kinds of coins in their collections or for souvenirs. Many times they are used as traditional gifts for exclusive occasions. These coins are not considered to be useful gifts, bur are celebration items that can be reserved for years as unique souvenirs when received by a special friend or loved one.

There is a strong demand for these coins among persons who are collectors as they could have important value to them. Others will want them to remember an notable day or time . The mint date and the event celebrated by the coin could be one cause people believe them collectible objects. Since the 1970s, the individual coins were accessible in the marketplace every year, but are now offered as sets in packages or in special displays. Several collectors say that one cause they are marketed this system was the decrease of their value starting in 1971. The introduction of the euro may also be a factor.

There are countries that have create commemorative coins and used these coins for propaganda. There were royal family who issued coins to commemorate ancient or recent events and/or celebrations that recognized their authority. The half dollar was created in 1892 to commemorate the Columbian Exposition in Chicago. This was a celebration to mark the 400th anniversary of the expedition of Christopher Columbus and his discoveries in the world. Through the following year, the first quarter dollar commemorative was introduced to indicate the Exposition as well, but it too gave respect to queen Isabella of Spain. She was the one who “back-pedaled” the political agendas on Women Rights.

The first commemorative coins that were prepared of silver were introduced in the 1900s. The coins were minted in respect of Lafayette and George Washington. In the following years, the half dollar coin was denominated, and the legal tender commemorative coins were produced to mark celebrations rather than historical events. These coins are accepted today as classical sets of extraordinary coins of past events relating the years1892 – 1954. It was in 1932 that the Washington Quarter Dollar was released as the United States’ second commemorative coin in its denomination. It was issued for the 200th birth anniversary of George Washington. The coin also continues its circulation as a celebratory coin because of its recognition. It was atypical to circulate a commemorative coin of the 1892 – 1954 era in the United States because the government had not deliberately set them into circulation, (they were not legally approved by the government for public use) so collectors will not pay the premium costs of these coins that are still in the market.
In 1975, that the Bicentennial Quarter was introduced. It became the second circulating memorial coin in the nation, while the silver dollars and half dollars (1776 – 1976) were reissued as a exclusive collector’s edition. Many collectors have distinct agendas when collecting these coins. A few prefer memorial coins from 1892 – 1954 while most collectors want the present editions. They recognize that these coins have distinctive values depending on the series and/or editions.Although there have been distinctive series released, a proposition was submitted to congress that would mark the Lincoln cent for his birth anniversary. No one knows whether or not the 1-cent denomination commemorative coin will be minted.

The confusing portion of these commemoratives that are circulating is the pattern of the denomination. The 1776-1976 commemoratives half-dollar and silver dollar may not be incorporated in collections because of their scarcity. Most of the coins that are circulating are the quarter dollar coins. It should be an motivating development for the projected circulation of the one cent memorial coin.

The initial design of large cents was pretty interesting. It featured Flowing Hair and Chain on back. Even more interesting is that the general people of that time did not accept the design or looks of this prototype. That was reflected in one of a Boston newspapers’ March, 1793 issue.

It said that the then US cents did not meet their expectations. They repelled the suggestion that a chain was at on the coin’s reverse and the women Liberty appeared to be scared herself. And such dissatisfactions and complains were no remote opinions.

Self confronted by such complaints, the American administration finally decided to go for a substitution. They tried to carefully replace the chain depicting “bondage.” In its position they brought a wreath in the small time duration of a few weeks.

But there were silent negative criticisms towards that image of maniacal Liberty. But she didn’t go left as promptly as the chain did. Rather in 1793, that image however was replaced with a Liberty that looked calmer.

Call this creativity if you want, but the alteration of the lady’s image also involved the ‘Liberty cap’ that she wore. This had some parallel with the design of Half Cent at that point in time. This was to show her celebrations for the untouched liberty of America.

Large Cents at that occasion were really large. Large Cents worth one dollar through the period 1793 to 1794 weighed around 3 pounds! During the mid 1790s, the weight had been somewhat for adjusting to the worth/price of copper. Despite all that however, Large cents remained really big and clunky.

At present, you observe lots of large cents for sale in brick and mortar antique shops. They sort of take you on a time travel back to the beginning of American olden times. But with the internet so versatile in ecommerce these days, you can find tons of large cents for trade online.

From the article:

“Coin collectors are often advised to buy the key coins in a series first, as these are the coins most likely to appreciate. Yet, despite the wisdom of this advice, few collectors actually follow it.   A key coin is just what the name implies: It’s the key that unlocks the door leading to set completion. Without this coin or coins, you’ll never fill all the holes in the album.

Of course, that’s also true of the most common coin in the set, but the difference is that the common piece is nearly always attainable, in any condition you desire. The key coin, on the other hand, is often simply not available when you want it, or it may not be readily available in the grade you want.”

http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=6327

Coin categories that the IRS generally allows include:

- Coins specifically listed in the Internal Revenue Code and minted by the US.

• American Gold Eagles
• American Gold Buffalo coins, although the specially processed proof version of this coin is not acceptable because the value of the coin is grater than value of the metal.
• American Silver Eagles.
• American Platinum Eagles.

Note that if the coins have been graded by certification organizations and placed in  “slabs”, they will probably count as collectables and not be premitted in IRAs.

- Some coins issued by mints of other nations that also meet the fineness requirements to be an IRA investment:

• Australian Nugget (Kangaroo) Gold coins..9999 fine.
• Australian Kangaroo and Kookaburra Silver coins .999
• Australian Koala Platinum coin .9995 fine
• Austrian Philharmonic Gold coins .9999 fine
• Austrian Philharmonic Silver coins .999 fine
• Canadian Maple Leaf Gold coins .9999 fine
• Canadian Maple Leaf Silver coins .9999 fine
• Canadian Maple Leaf Platinum coins .9995 fine
• Canadian Maple Leaf Palladium coins .9995 fine
• Mexican Libertad Silver Coins .999 fine
• Isle of Man Noble Platinum coins .9995 fine

Sadly though you can’t hold the coins personally if they are part of an IRA.  Your IRA custodians will require that the coins are held in a depository and you probably won’t get to see them unless you take them as a distribution upon retirement.

The Denver Mint accounts for just over half of US coin production with the rest from Philadelphia.

Lincoln Silver Dollar

Later this month the US Mint will issue a new silver dollar with a portrait of a youthful Lincoln on the head side and a short extract from the Gettysburg Address on the reverse side.  Production of presidential $1 coins is expected to increase as the US Government undertakes a marketing push to get them accepted.

Get the Lincoln silver dollar from the US Mint