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WEEK #460 YIPPY YEAH IT'S FRIDAY!!!

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  • Administrator

hm QUESTION:

 

What was the primary reason that the Columbian Expo half dollar sold better than the quarter?

 

Our first place winner will receive an autographed copy of “100 Greatest U.S. Error Coins” by Nicholas P. Brown, David J. Camire and Fred Weinberg

 

There will also be a runner up prize given to a randomly selected player with the correct answer.

 

REMINDER: The Numisma-Quest ends on Saturday at midnight EST. Entries after that time will not be valid. See the Trivia info post for more details.

 

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Yeah, I think I was right. This web site mentions the price difference being the factor:

 

http://www.coinsite.com/content/commemoratives/columbianquarter.asp

 

Only a small quantity of the quarters were sold at the Women’s Building on the Exposition grounds, at $1 per coin. According to recollections of those who visited the fair, the Columbian half dollar at $1 was a better buy than the Isabella quarter offered for the same price. Souvenir buyers felt that they would rather get 50 cents back for their dollar instead of 25 cents.

 

 

And another web site talks about that coin and the value of 50 cents:

http://www.pcgscoinfacts.com/Hierarchy.aspx?c=7

 

Buyers of commemorative coins, including members of the general public, were often exploited. Those who paid $1 to buy Columbian half dollars in 1893 were not pleased when a couple of years later vast quantities were placed into circulation for face value, and their investment became worthless. The 100% premium paid may not seem like much today in the 1990s, but in the 1890s the difference between 50¢ and $1 would have paid for a nice dinner.

 

In 1893, there was a depression in the US and unemployment was over 11%.

http://en.wikipedia.org/wiki/Panic_of_1893

 

 

Also, the World's Columbian Exposition was also known as The Chicago World's Fair and celebrated Columbus' s 400th anniversary of arrival to the new world.

http://en.wikipedia.org/wiki/World%27s_Columbian_Exposition

 

 

 

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By the time a further quantity had been coined in 1893, public demand for the commemorative had lessened. An unknown quantity of half-dollars were used as collateral against loans made to the Exposition by banks. When the Exposition failed to repay the debits, the banks dumped the coins into circulation.

 

First of the commemorative half dollars.

 

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  • Administrator

QUESTION:

 

What was the primary reason that the Columbian Expo half dollar sold better than the quarter?

 

Answer: Both were priced at $1, and the half was seen as a better value

 

Our first place winner has Praedator has won an autographed copy of “100 Greatest U.S. Error Coins” by Nicholas P. Brown, David J. Camire and Fred Weinberg

 

Our runner up jamorse99 has won an NGC Single Coin Display Box.

 

Thanks for playing and please stop by this Friday for the PMG Numisma-Quest question!

 

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