The 50 State quarters ( authorized by Pub.L. 105–124 ( text ) ( PDF ), 111 Stat. 2534, enacted December 1, 1997 ) was a series of circulating commemorative quarters released by the United States Mint. Minted from 1999 through 2008, they featured singular designs for each of the 50 US states on the reverse.
Reading: 50 State quarters – Wikipedia
The 50 State Quarters Program was started to support a new generation of coin collectors, [ 1 ] [ 2 ] and it became the most successful numismatic program in history, with approximately half of the US population collecting the coins, either in a casual manner or as a serious pursuit. [ 3 ] The US federal government so far has made extra profits of $ 3 billion from collectors taking the coins out of circulation. [ 4 ] In 2009, the US Mint began issuing quarters under the 2009 District of Columbia and US Territories Program. The Territories Quarter Program was authorized by the passage of a new legislative act, H.R. 2764. This program features the District of Columbia, Puerto Rico, American Samoa, Guam, the United States Virgin Islands, and the Northern Mariana Islands. [ 5 ]
Treasury confrontation and congressional act [edit ]
The program ‘s origins lie with the Citizens Commemorative Coin Advisory Committee ( CCCAC ), which was appointed by Secretary of Treasury Lloyd Bentsen in December 1993 and chaired by Mint Director Philip N. Diehl. From the first days of the CCCAC, several of its members, led by David Ganz, urged the committee to endorse the 50 States Quarters program. initially, he found confirm from only Charles Atherton from the Federal Commission on Fine Arts and Dan Hoffman, a young numismatist from South Carolina who besides served on the CCCAC. however by 1995 the CCCAC last endorsed the idea. The committee then sought the defend of Representative Michael Castle ( R – delaware ), chair of the House Banking subcommittee with legal power over the nation ‘s coinage. Castle ‘s initial caution was resolved when Diehl suggested the coins be issued in the order the states entered the Union or ratified the Constitution. Delaware, Castle ‘s family state, was the first express to ratify the Constitution, and would therefore get to be the beginning state to have its stern released. Castle subsequently held hearings and filed legislation to authorize the program. [ 6 ] Despite the documentation of the film director of the mint and the Treasury Secretary-appointed CCCAC, the Treasury Department opposed the 50 States Quarters Program, as commemorative coinage had come to be identified with abuses and excesses. [ 7 ] The Mint ‘s economic models estimated the program would earn the government between $ 2.6 billion and $ 5.1 billion in extra seignorage and $ 110 million in extra numismatic profits. Diehl and Castle used these profit projections to urge the Treasury ‘s documentation, but Treasury officials found the projections to lack credibility ( at the program ‘s ending, the Mint estimated the program had earned $ 3 billion in extra seignorage and $ 136.2 million in extra numismatic profits ). [ 4 ] Diehl worked with Castle behind the scenes to move legislation advancing despite the Treasury ‘s confrontation to the platform. [ 1 ] [ 8 ] however, the Treasury suggested to Castle that the department should conduct a study to determine the feasibility of the program. With Diehl ‘s advice, Castle accepted the Treasury ‘s volunteer, and the agreement was codified in the United States Commemorative Coin Act of 1996. [ 9 ] [ 10 ] The act besides authorized the Secretary to proceed with the 50 States Quarters Program without farther congressional legal action if the results of the feasibility sketch were favorable. The Treasury Department engaged the consulting firm Coopers and Lybrand to conduct the survey in 1997, which confirmed the Mint ‘s demand, seignorage, and numismatic net income projections for the program. [ 7 ] Among early conclusions, the discipline found that 98 million Americans were likely to save one or more broad sets of the quarters ( at the program ‘s conclusion, the Mint estimated that 147 million Americans collected the 50 state of matter quarters ). however, the Treasury Department continued to oppose the program and declined to proceed with it without a congressional mandate to do so. [ 4 ] In 1997, Congress issued that mandate in the form of S. 1228, the 50 States commemorative Coin Program Act, which was signed into law by President Bill Clinton on December 1, 1997 .
50 state Quarters Program [edit ]
The 50 State quarters were released by the United States Mint every ten weeks, or five each class. They were released in the same order that the states ratified the constitution or were admitted to the Union. Each quarter ‘s overrule commemorated one of the 50 states with a design emblematic of its singular history, traditions, and symbols. Certain plan elements, such as state flags, images of live persons, and head-and-shoulder images of asleep persons were prohibited. The authorize legislation and Mint procedures gave each state a substantial function and considerable discretion in determining the design that would represent their state. The majority of states followed a process by which the governor solicited the department of state ‘s citizens to submit design concepts and appointed an advisory group to oversee the procedure. Governors submitted three to five finalist design concepts to the Secretary of the Treasury for approval. Approved designs were returned to the states for survival of a final design. States normally employed one of two approaches in making this choice. In 33 states, the governor selected the concluding recommended design, much based on the recommendations of advisory groups and citizens. In the other 17 states, citizens selected the final purpose through online, telephone, mail, or early public votes. US Mint engravers applied all final design concepts approved by the Treasury Secretary. The media and populace attention surrounding this summons and the spill of each department of state ‘s quarter was intense and produced significant promotion for the program. [ 4 ] [ 11 ] The 50 State Quarters Program was the most popular commemorative coin program in United States history ; the United States Mint has estimated that 147 million Americans have collected state quarters and 3.5 million participated in the excerpt of state quarter designs. [ 4 ] By the end of 2008, all of the original 50 States quarters had been minted and released. The official total, according to the US Mint, was 34,797,600,000 coins. The average mintage was 695,952,000 coins per state, but ranged between Virginia ‘s 1,594,616,000 to Oklahoma ‘s 416,600,000. demand was stronger for quarters issued early in the platform. This was ascribable to weakening economic conditions in late years and the wane of the initial surge of demand when the program was launched. Another factor was the reassertion of the Treasury Department ‘s enemy to the program. When the director ‘s term ended in 2000, the Treasury proceeded to reduce and last terminate the most effective elements of the Mint ‘s promotional program despite the high revert on investment they earned. [ citation needed ]
Designs [edit ]
District of Columbia and United States Territories secrete [edit ]
extra notes on individual designs [edit ]
class map [edit ]
collectible value [edit ]
In 1997, Congress passed the 50 States commemorative Coin Program Act, which instructed the creation of the 50 State quarters series to “ honor the unique Federal Republic of 50 States that comprise the United States ; and to promote the dispersion of cognition among the young person of the United States about the individual states, their history and geography, and the rich diversity of the national heritage … ”, and to encourage “ young people and their families to collect memorable tokens of all of the States for the face value of the coins. ” [ 31 ]
Coin with partially rubbed off “ In God We Trust ” motto While coinage totals of the diverse designs vary widely—Virginia quarters are about 20 times equally abundant as the Northern Marianas quarters—none of the regular go around issues are rare enough to become a valuable investment.
There was, however, a bill of collector interest over die errors in the Wisconsin quarter. Some designs from the Denver mint have corn without a smaller leaf, others feature a small leaf point upwards, and calm others have the flick bending down. [ 32 ] A arrange of all three quarters sold on eBay in February 2005 for $ 300 and initially saw significant increases, such as $ 1500 for person coins, but as of February 2020 PCGS lists the value of MS-62 specimens from $ 92 to $ 130 each. [ 33 ] Another die cast erroneousness race with the foremost Delaware quarters. Being the first model of submit draw made, the mint gave it a disproportionate weight causing vending machines to not accept it. The one-fourth die was cursorily fixed. Some Delaware quarters appeared without the last E, immediately saying, “ THE FIRST STAT ”. A major mistake occurred in 2000 when the reverse die of a Sacagawea dollar was combined with the obverse die of a department of state quarter on dollar-coin planchets to form what is known as a “ mule “. As of August 2019, alone 19 of these specimens, produced on dollar planchets, are known to have escaped from the Mint. [ 34 ] [ 35 ] [ 36 ] A 2005 Minnesota double die quarter, a well as a 2005 Minnesota quarter with extra trees ( another die mistake ), have both triggered numismatic interest. An unusual die break on some 2005 Kansas quarters created a kyphosis bison. [ 37 ] relatively more common are Kansas quarters bearing the motto “ IN GOD WE RUST. ” [ 38 ] The United States produces proof neologism in circulating base alloy and, since 1992, in individually sold sets with the dimes, quarters, and half-dollars in silver. For the silver medal issues, the 1999 set is the most valuable, being the inaugural year of the series and with a relatively small coinage, although prices have importantly decreased since the 50 State Quarters Program ended. The located in floor metallic element, of this or any early year, is worth only a fraction as much. The eloquent validation sets of later years, while having some intrinsic and collector deserving, are besides priced far lower. The public is cautioned to research prices before buying advertise department of state quarter class or proof sets. In general, the broadcast increased concern in quarter and cosmopolitan mint collecting. [ 39 ] Large numbers of ads, quarter products and one-fourth data were available during the years the program run. Home Shopping Network, Franklin Mint, and Littleton Coin Company were among the most big in ad space .
seigniorage [edit ]
Since the 50 State Quarters Program was expected to increase public demand for quarters which would be collected and taken out of circulation, the Mint used economic models to estimate the extra seigniorage the program would produce. These estimates established a range of $ 2.6 billion to $ 5.1 billion. ( At the end of the broadcast, the Mint estimated the actual increase in seigniorage to be $ 3 billion. ) The Mint besides estimated the platform would earn $ 110 million in extra numismatic profits. ( The final, post-program estimate was $ 136.2 million. ) The Mint used these estimates to support the proposed program, and the legislation enacting the 50 States Quarters plan cited these estimates. [ 4 ]
sarcasm [edit ]
- On July 25, 2001, The Onion ran a satirical news story titled “Collecting All 50 State Quarters Senior’s Only Reason To Remain Alive”. On May 4, 2005, it ran a further story titled “U.S. Mint Gears Up To Issue Commemorative County Pennies”.
- The Late Night with Conan O’Brien television show aired several segments about fictional satirical designs for new state quarters.
- Sculptor Daniel Carr, whose designs were used for the New York and Rhode Island state quarters and whose concept was adapted for the Maine state quarter, has created a series of parody quarters making light of the state quarter concept.
See besides [edit ]
References [edit ]
bibliography [edit ]
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