Answering a Franklin half dollar release question ATS 1 1

[RWB]

A member ATS asked the following question about Franklin half dollars given to guests at a dinner held for Mint director Ross. The halves were attached to informational cards, one card per guest. This was the first public introduction to the new coins design. John Sinnock prepared the design in 1942 for a half-dime. After Sinnock's death in May 1947, Gilroy Roberts completed the design models and prepared reductions for coinage. He retained Sinnock's characteristic low relief and indefinite modeling.

The question is: "RampageJuly 20, 2022 3:40AM -- I wonder if these have any sort of special strike. It would be cool if they did and then discovered 70+ years after they were struck."

The coins were not first strikes from new dies or anything special. They were pulled from a random bag from the Philadelphia Mint. The cards were signed and lettered in Washington, and the half dollars added in Philadelphia using the same cellophane envelopes common for proof coins in 1942.  (Photos courtesy Timothy McConnell and United States Coin & Currency Shop, Philadelphia, PA .)

Edited July 20, 2022 by RWB

[RWB]

The complete Franklin half dollar story is in my book "Saudi Gold" which is currently being printed.

[Oldhoopster]

That was an interesting thread.  I wasn't aware of dinner or presentation of newly minted coins, so it's always nice to learn something new. 

So how does a dinner for a mint director to mark the release of the Franklin half relate to Saudi Gold?  I can't even begin to connect the dots.

[Oldhoopster]

On 7/20/2022 at 7:34 AM, RWB said:

 

 

 

Do you think these would qualify for an Early Strike/First Day of Issue or some other fancy label on a slab? 

Edited July 20, 2022 by Oldhoopster

[FlyingAl]

On 7/20/2022 at 5:39 AM, RWB said:

The complete Franklin half dollar story is in my book "Saudi Gold" which is currently being printed.

Is there a press release that I can read to see what topics are being discussed? 

[RWB]

On 7/20/2022 at 12:03 PM, Oldhoopster said:

That was an interesting thread.  I wasn't aware of dinner or presentation of newly minted coins, so it's always nice to learn something new. 

So how does a dinner for a mint director to mark the release of the Franklin half relate to Saudi Gold?  I can't even begin to connect the dots.

...more like dashes.   This and the FDR dime are a couple of the "...other tales from the Mint..." part of the book title.

[RWB]

On 7/20/2022 at 1:14 PM, FlyingAl said:

Is there a press release that I can read to see what topics are being discussed? 

Press/Media Release

For Release MM/DD/YYYY

Contact: Roger W. Burdette,

Seneca Mill Press LLC proudly announces release of the latest numismatic book by Roger W. Burdette:

Saudi Gold

and other

Tales from the Mint

Saudi Gold describes the economic journey from a presumed stability of various gold standards, to the reality that monetary value is an expression of economic activity within a free social structure.

America’s numismatic journey began with tentative issues of “Fugio” cents in 1787 and “half dismes” in 1792. Over time, external events generated unexpected changes to accustomed financial and coinage systems. Some changes were of wide impact, while others were limited to our national mints, and some remain largely unknown to the present.

           Use of gold as a single monetary standard was commonly accepted by most nations. But the United States, with its diverse and questioning population, attempted to have gold and silver as “semi-exchangeable” if not practical dual standards.

           After decades of mannered stability, a once ubiquitous gold exchange standard crumbled under international economic pressures resulting from World War I. American dollars that had long been expressed as “gold dollar” or “silver dollar” or “greenback dollar” all became simply “a dollar.” Coin collectors used their newly equal dollars to enhance collections, fill coin boards and examine pocket change for rare and valuable coins. The business of coins became part of the collection of coins and drew within it a new diversity of hobbyists and businesses.

           During the interwar Great Depression period, Treasury began a large construction and modernization plan for the mints. This included separate bullion depositories for gold and silver, enlargement of existing mints and a proposed new mint in Indiana. Director Nellie Ross reinvigorated the Mint Service with better training, heightened security, improved facilities and crucial direct oversight.

With World War II came new, often secret roles for the Treasury and Mint Bureau. They became lenders of war materials, international coin producers, and unexpected sources of foreign aid designed to improve America’s war efforts. The Department of State seemed, at times, to use the Mint Bureau as its own adjunct; bypassing a Congress reluctant to take a long view of international relations.

World War II produced the greatest single disruption of human activity ever experienced.  The rise of large-scale totalitarianism, weapons of unimaginable destructive capability, and economic distortion forced Great Britain, the United States and their allies to take extraordinary measures to make the word safe for democracy.

Central to this was securing the cooperation of allies and non-aligned states for raw materials, overflight permission, and advance base logistics planning. Our title, Saudi Gold, focuses on one of many events involving manufacture of coinage, material lend-leas arrangements and, especially in the instance of relations between the Kingdom of Saudi Arabia and the United States, personal kindness, connection and respect.  America’s goal was not oil – we were self-sufficient – but access to a transportation base for troops required for the expected invasion of Japan. The gold discs which coin collectors associate with Saudi Arabia were only incidental, but after decades of confusion we present what actually happened.

We close with examination of two of our most iconic coins. The first, Franklin D. Roosevelt dime, honors the wartime President who led with courage and commitment. The second recognizes Benjamin Franklin, a man who held no great political office, but became a revered American national philosopher.

* * * * *

[RWB]

Contents

PAGE 9

Introductory Remarks

PAGE 11

Chapter 1 – Crowns of Gold, Feet of Clay

America was officially on a “gold standard” from 1900 to 1974 although its practical beginning was in 1834. Through political, economic and social changes gold seemed to be the basis of financial stability –– until one day the luster peeled off.

PAGE 29

Chapter 2 –When A Dollar Is A Dollar

During World War I, the United States learned that its economy could function very well without gold coins in circulation. Gradually gold was consolidated into national vaults. With nationalization of gold and silver every dollar became identical with every other dollar.

PAGE 59

Chapter 3 – Between the Wars to End All Wars

While America stood aside in world events during the “Roaring Twenties,” Presidents Harding, Coolidge and Hoover cut domestic budgets and discouraged capital investment in minting technology. The three great U.S. Mints stagnated in neglect and ineptitude until appointment of Nellie Ross as Director of the Mint in 1933.

PAGE 97

Chapter 4 – Missing 1928 Double Eagles

A bag of 1928 double eagles was missing from the Philadelphia Mint. The Secret Service investigated down to the dust on remaining coin bags but came up empty handed.

PAGE 119

Chapter 5 – American Gold After Nationalization

Hoarding of money by frightened citizens contributed to the Great Depression, but others sought to gain advantage from the situation, and some fortunate few found themselves owners of newfound treasures.

PAGE 151

Chapter 6 – Coin Collecting During the Depression

Shortage of cash did not deter people from engaging in hobbies and other inexpensive diversions. Coin collecting experienced a resurgence fueled by commemorative half dollars, inexpensive coin folders, and the prospect of finding a valuable coin in pocket change.

PAGE 161

Chapter 7 – Treasury’s Wartime Secrets

World War II was waged on many fronts and by every part of the United States government and people. Some of the war made headlines, some was out of public attention, and some was known only to a few.

PAGE 185

Chapter 8 – Gold Discs for the Kingdom of Saudi Arabia

The Kingdom of Saudi Arabia controlled vast petroleum reserves, but the United States was more interested in access to a strategic staging point to support a potential invasion of Japan. Gold bullion discs were part of the American plan.

PAGE 211

Chapter 9 – Franklin D. Roosevelt Dime

FDR was the only President many Americans had known. He was also the most dynamic since his cousin Theodore held the same office. FDR’s sudden death only a month before victory in Europe shocked the nation and world.

PAGE 229

Chapter 10 – An American Original

America has long had a fascination for the quirky yet practical genius of Benjamin Franklin. He was never elected to office but remains better known than most of the prominent men who became political leaders.

PAGE 241

Bibliography

Edited July 20, 2022 by RWB

[MarkFeld]

I didn't know of those information cards and think they're pretty darned cool! Thank you.

[RWB]

It's unfortunate that no pieces were made and kept from the first pair of dies used. (Cynically -- they could be called "SMS 1948 Halves" or some other silliness.) I guess a TPG might designate the carded-coins as true "First date of Issue," but removing the coin ruins all the associated value since the coins themselves are ordinary.

[FlyingAl]

Rampage ATS thanks you for your response and explanation, and I thank you for the press release. 

[Henri Charriere]

On 7/20/2022 at 12:03 PM, Oldhoopster said:

So how does a dinner for a mint director to mark the release of the Franklin half relate to Saudi Gold?  I can't even begin to connect the dots.

[Good thing you were never an operator of an old linotype press machine.]   

[RWB]

On 7/20/2022 at 4:14 PM, FlyingAl said:

Rampage ATS thanks you for your response and explanation, and I thank you for the press release. 

I appreciate Rampage's comment.

[VKurtB]

On 7/20/2022 at 1:50 PM, RWB said:

Press/Media Release

 

For Release MM/DD/YYYY

 

Contact: Roger W. Burdette,

 

Seneca Mill Press LLC proudly announces release of the latest numismatic book by Roger W. Burdette:

 

Saudi Gold

 

and other

 

Tales from the Mint

 

Saudi Gold describes the economic journey from a presumed stability of various gold standards, to the reality that monetary value is an expression of economic activity within a free social structure.

 

America’s numismatic journey began with tentative issues of “Fugio” cents in 1787 and “half dismes” in 1792. Over time, external events generated unexpected changes to accustomed financial and coinage systems. Some changes were of wide impact, while others were limited to our national mints, and some remain largely unknown to the present.

 

           Use of gold as a single monetary standard was commonly accepted by most nations. But the United States, with its diverse and questioning population, attempted to have gold and silver as “semi-exchangeable” if not practical dual standards.

 

           After decades of mannered stability, a once ubiquitous gold exchange standard crumbled under international economic pressures resulting from World War I. American dollars that had long been expressed as “gold dollar” or “silver dollar” or “greenback dollar” all became simply “a dollar.” Coin collectors used their newly equal dollars to enhance collections, fill coin boards and examine pocket change for rare and valuable coins. The business of coins became part of the collection of coins and drew within it a new diversity of hobbyists and businesses.

 

           During the interwar Great Depression period, Treasury began a large construction and modernization plan for the mints. This included separate bullion depositories for gold and silver, enlargement of existing mints and a proposed new mint in Indiana. Director Nellie Ross reinvigorated the Mint Service with better training, heightened security, improved facilities and crucial direct oversight.

 

With World War II came new, often secret roles for the Treasury and Mint Bureau. They became lenders of war materials, international coin producers, and unexpected sources of foreign aid designed to improve America’s war efforts. The Department of State seemed, at times, to use the Mint Bureau as its own adjunct; bypassing a Congress reluctant to take a long view of international relations.

 

World War II produced the greatest single disruption of human activity ever experienced.  The rise of large-scale totalitarianism, weapons of unimaginable destructive capability, and economic distortion forced Great Britain, the United States and their allies to take extraordinary measures to make the word safe for democracy.

 

Central to this was securing the cooperation of allies and non-aligned states for raw materials, overflight permission, and advance base logistics planning. Our title, Saudi Gold, focuses on one of many events involving manufacture of coinage, material lend-leas arrangements and, especially in the instance of relations between the Kingdom of Saudi Arabia and the United States, personal kindness, connection and respect.  America’s goal was not oil – we were self-sufficient – but access to a transportation base for troops required for the expected invasion of Japan. The gold discs which coin collectors associate with Saudi Arabia were only incidental, but after decades of confusion we present what actually happened.

 

We close with examination of two of our most iconic coins. The first, Franklin D. Roosevelt dime, honors the wartime President who led with courage and commitment. The second recognizes Benjamin Franklin, a man who held no great political office, but became a revered American national philosopher.

* * * * *

Benjamin Franklin held the office of President of Pennsylvania. I’ll leave to others whether that counts as a great political office.