A coin for every occasion: 12th October 1492 - happy Columbus day

Throughout the month of October, ill be looking back at historical moments from the past. From conflicts to coronations, sporting moments to royal memories, and famous firsts and lasts, with my love of all things shiny and precious, ill be trying to tie these events in with coins that have been created to commemorate these moments.

Each year on 12 October, a national holiday in the United States commemorates the anniversary of Christopher Columbus’ arrival in the Americas on the 12th October 1492.

However, some areas in America have moved to replace Columbus Day with Indigenous People Day to fully commemorate the country’s history.

The Columbian half dollar is a coin issued by the Bureau of the Mint in 1892 and 1893. The first traditional United States commemorative coin, it was issued both to raise funds for the 1893 World's Columbian Exposition and to mark the quadricentennial of the first voyage to the Americas of Christopher Columbus, whose portrait it bears. The Columbian half dollar was the first American coin to depict a historical person.
Wiki

Like all pre-1964 US half dollars, this coin is made from 90% silver. Created as a way of raising funds for the upcoming Columbian Exposition, the plan was to sell these commemorative coins as a way to generate money to pay for the Expo.

With over 5,000,000 coin minted, the plan was to sell them all, with a premium to celebrate Columbus day. Like most plans, it didnt.... ummmmm... go to plan, and only four hundred thousand were eventually sold. Some 2 million minted coins were eventually released into circulation where they were still being used as currency through the 1950s.

Weighing 12.5g, or 0.36t/oz, circulated coins can be bought for around $20USD while BUnc ones can change hands for as much as $1000. As a publicity stunt, the makers of the Remington Typewriter paid a jaw-dropping $10,000 back in 1892 for the first coin struck. Putting that in to context, using an "inflation calculator", $10000 back in 1892 equates to $300623.08 today... So has silver gone up in value OR has the purchasing value of the dollar gone to shit?? Ill let you decide that.

SOURCE: ROYAL MINT

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