Numismatic issues to ponder on Independence Day

1976 Eisenhower dollar (Type II). Photo by AKS.9955. Hover to zoom.

When it comes to Independence Day, there is no shortage of coin or medallic issues that could potentially be discussed. However, for the sake of timeliness, I will focus my discussion on some of the bicentennial issues that came out in the mid-1970s. In 2019 we are situated roughly at the midpoint between the bicentennial, which took place 43 years ago (1976), and the tricentennial (or tercentennial), which is still 57 years away (2076). This means the lesser-known sestercentennial of the United States’ Declaration of Independence is rapidly approaching in 2026. While collectors should be on the lookout for some fascinating issues in 2026, let’s flashback to 1976 to predict what may come our way in the future.

The first of these issues I will cover from the mid-1970s was a series of circulating commemorative coins, which include a quarter, half dollar, and two types of dollar coins (Type I and II). All three bear the double dates 1776-1976 and special designs were featured on the Washington quarter, Kennedy half dollar, and Eisenhower dollar. The number of circulating coins struck by the Philadelphia and Denver mints was cataloged in the 73rd edition of the Guide Book of United States Coins:

Circulation Coins

Philadelphia

Denver

Quarters

809,784,016

860,118,839

Half Dollars

234,308,000

287,565,248

Dollars (Type I)

4,019,000

21,048,710

Dollars (Type II)

113,318,000

82,179,164

Given the large number of coins that were struck, these Bicentennial issues can still be obtained by collectors for a relatively low cost. This is a classic example of supply and demand when applied to coin collecting.

Mint Director Mary Brooks presents President Gerald Ford (center) with the first set of the Bicentennial coins, November 13, 1974, as American Revolutionary Bicentennial Administration Director John Warner looks on. Photo courtesy of the White House photo office Ricardo Thomas – Gerald R. Ford Presidential Library.

The 1975 and 1976 San Francisco Mint six-coin sets that included these coins met a similar fate, and the number produced is also documented in the 73rd edition of the Guide Book of United States Coins:

San Francisco (Sets)

Copper-Nickel

Silver Clad

In 1975 Proof sets (six coins, cent through dollar)

2,845,450

0

In 1976 Proof sets (six coins, as above)

4,149,730

0

Actual number of silver Uncirculated sets issued

0

4,908,319

Actual number of silver Proof sets issued

0

3,998,621


In a piece for COINage in August 1977, concerning the value of the San Francisco Mint silver sets, the late Ed Reiter penned a statement from coin dealer Marcel Sassola:

There were just too many sold, and I think it will take a long time before they have any real value. Maybe by the Tricentennial.

Given the low cost of obtaining these coins and sets now, there is little to lose if a youthful collector should choose to make a potential investment for the upcoming sestercentennial and tricentennial. However, for the majority of collectors, it may simply be better to wait and see what products come out in 2026.

Photo by APMEX.

In the text American Gold and Silver: U.S. Mint Collector and Investor Coins and Medals, Bicentennial to Date, it is relayed that the first bicentennial medal issued by the United States Mint was struck in 1972 and designed by Ralph J. Menconi. This medal featured a profile of George Washington with a depiction of the Liberty Tree in Boston. From 1973 to 1976, the Mint also issued a selection of .925 fine silver medals priced at $10. Bronze versions were priced at $3.50. The persons depicted on these medals include:

  • Patrick Henry and Samuel Adams, 1973
  • John Adams, 1974
  • Paul Revere, 1975
  • Thomas Jefferson, 1976

In 1975, the Mint also issued a series of three-inch bronze medals commemorating the 200-year anniversary of the U.S. Marines, Navy, and Army. Coast Guard medals were also included despite the modern branch being founded in 1915, while the original organization was founded in 1790 as the “Revenue-Marines.” These medals are still on the Mint’s website and are minted at the Philadelphia Mint.

Given these past issues for the bicentennial of Independence Day, what coins or medals can we expect in the future? The sestercentennial will likely have fewer issues than the tricentennial, and will probably include the issuance of a special half dollar for the occasion, given the release of the 1926 American Sesquicentennial half dollar a century ago. Since the U.S. president at the time was Calvin Coolidge, he was depicted on the Sesquicentennial half dollar, but this practice is unlikely to occur again due to public complaints in the past. Furthermore, it is also unlikely that Congress, which legislates commemorative coin programs, would be able to pass a bill that honors any particular modern president given the strong partisan divides that currently form a rift through American politics. As for the tricentennial, we can expect a variety of new issues and sets to accompany such a momentous occasion. However, with the tricentennial still 57 years away, we should instead focus on lighting up some fireworks and enjoying good company this Thursday.

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Comments

  1. Tom says

    God Bless America!
    Right now we can say that.
    Our coins, yesterday and today have meaning. At the moment they’re not on the same level as Nike shoes and never will be. Thankfully The U S Mint doesn’t take opinions from Kaepernick.

  2. cagcrisp says

    Let’s See…

    Pride of Two Nations NGC Graded for sale byMCM

    PF70 for $495.00
    PF69 for $329.00

    …SO…Virtually All of these coins will Grade 69 or 70

    …SO…MCM is Graciously purchasing these coins for $139.99 from the Mint, Slapping a Label on ‘em and Selling them for $495.00 or $329.00

    Ain’t Capitalism Great

    …And…I said All that and Never bashed a TPG…

  3. Tom says

    @@cagcrisp
    I still say the Mint should slab their own coins and cut out the middleman . That would be their best moneymaker ever.

  4. cagcrisp says

    @Tom says,”I still say the Mint should slab their own coins and cut out the middleman . That would be their best moneymaker ever.”

    That means you would have to admit that some U.S. Mint coins don’t grade 70?

    It’s also like putting the fox in the hen house. Who is going to believe that the Mint would be capable of grading their Own coins Subjectively?

    We’re having trouble getting an Independent Fed Currently.

    Arthur Laffer (just received Medal of Freedom from DJT) said “ All-Appointed ‘Fed Should Not Be Independent’

    IF there is money to be made, the Treasury isn’t the place I would be thinking about getting a Square Deal…

  5. CaliSkier says

    Well It wasn’t 10 minutes! Less than 6 hours and product is on back order!!! My order number after getting kicked around for 9 minutes at opening, was 068228XX @ 12:09 EST. So maybe the mint produced enough for 50,000 sets or so?

  6. CaliSkier says

    Expected inventory/ship date of 8/7/18 vs my predicted 9/23/19. Now let the cancellations begin as flippers and speculators are unable to get the quantities they wanted. Then as other people’s orders are jacked around and not receiving the perceived 70 grade they think every coin should have, my guess is now an opening week of 78,894! Anyone else care to make a guess, which is what my numbers are?

  7. Tom says

    @cagcrisp
    Nah.. The Mint can do just as well slabbing coins as NGC or PCGS. Too many TRUST TPG’s because they cannot grade their own. The Mint can hire the professionals from the competition. The rest is money in the bank.
    As for admitting they dont grade perfect. Of course they will! Who’s going to know ?

  8. Dustyroads says

    I like Louis’s guesstimate, but being that collecting has been in so much flux over the past several years, this will ultimately be a much needed test.

  9. ips_stuff says

    I know from order numbers placed, that the mint has had over 40,000 orders placed today.
    Can’t tell you if it means 40,000 or more of the new issue sold today or not, but I bought 2. Just wish they were both US coins.

  10. CaliSkier says

    Now that the Pride of Two Nations set is back ordered until after the 30 day window(7/3-8/3?) for First Release/Early Release(NGC)(PCGS, FDOI?) label designation, I suspect we might see a little action initially on the aftermarket, as dealers, flippers, speculators, others, just Love that label designation for their modern slabbed wares. They may not have been able to secure their desired or promised inventory for slabbing?

  11. Larry says

    If the amount of comments on this blog is a barometer of the hobby, the hobby is in big trouble. Not too many years ago there would be hundreds of comments after a release like this. Now, not even 100. Kind of sad.

  12. cagcrisp says

    @Larry says,” If the amount of comments on this blog is a barometer of the hobby, the hobby is in big trouble.”
    Yep.

    ” Not too many years ago there would be hundreds of comments after a release like this.” Yep.

    ” Now, not even 100.” Yep.

    ” Kind of sad. Yep…

  13. cagcrisp says

    Let’s See…

    The 2011 American Silver Eagle 25th Anniversary coin Sold Out is Less than 5 hours (Boatload of Website problems or would have gone Much Faster) with Mintage of 100,000

    The 2017-S American Silver Eagle (Congratulations Set) Sold Out in Less than 2 minutes with Mintage of 75,000 (Another 50,000 was waiting for the 2017 Limited Edition Silver Proof Set offered later in 2017)

    …SO…Now you have the 2019 American Silver Eagle with a Brand New “Enhanced Reverse Proof” with only 100,000 Mintage Available from the United States Mint (10k previously Sold by RCM)…

    …And…After 22 hour….

    …Still Available…

    Kind of sad. Yep…

  14. Old Big Bird says

    Yes it is sad, but there are times that this blog gets way off track and too political. I can tell you that it really turned me off and I do not read it or participate in it as often as I use to.

  15. cagcrisp says

    Let’s See…

    Financially Speaking…

    Dow Jones Industrial Average Closed at an All Time High Yesterday (26,966.00)

    S&P 500 Closed at an All Time High Yesterday (2,995.82)

    Nasdaq Closed at an All Time High Yesterday (8,170.23)

    Gold Futures Settled at a Six Year High Yesterday (August $1,420.90)

    Palladium Futures Settled at an All Time High Yesterday (September $1,565.80)

    …And then there is Silver…Down 1% YTD for Spot Silver Bid

    …SO…Is Everything Great Financially ?

    Nope…Nope…And…Nope…

  16. CaliSkier says

    Kind of a stretch IMO to compare the 25th Anniversary set(5coins) to a non anniversary 2 coin set? Additionally, due to the volatility of Ag at the time , the perceived value of lack there of was and is quite different. Lastly, there was a big influx of flippers and speculators happening(2008-2015?) IMO, which drove sell outs, aftermarket pricing, etc. Many collectors/hobbyists(new and old alike) IMO left the hobby or severely curtailed their purchasing after getting burned by the US Mints website, non-transparency, poor customer service, crappy shipping and handling, lack of HHL’s, high HHL’s, inability to deliver product due to lengthy back order status, under producing items in high demand, over producing those that are not, poor inventory management, 1-4 minute sell outs, products lingering for sale for many years, etc, etc!

    I think the hobby is strong, the modern coin market/production is not! We’re definitely seeing a change(NPI) within the hobby as pretty much most World Mints are now producing gimmick(Cag) coins and trying to force the modern rarities down the willing consumers throat! Discretionary spending for many has been altered by the economy, inflation, deflation, depreciation, all with nary an appreciation that all around us is ever changing? Ponder.::

  17. CaliSkier says

    Old Big Bird says: “it is sad, but there are times that this blog gets way off track and too political. I can tell you that it really turned me off and I do not read it or participate in it as often as I use to.”

    You’re right my friend. Not to mention the abuse meted out by some contributors, upon posting! This effectively creates an environment where fear of being chastised for your 2 cents, leads to less participation by those targeted. This site indeed used to show more participation by its readers prior to being purchased by Whitman for Michael Z. The articles and topics besides the “usual” press releases is what kept us coming back for more! IMHO, ther was WAY more coin chatter and less financial market chatter, political musings, etc.
    Lashings and bashing’s were still to be had, however due to the additional comments, we’d soon get things back on track and talk coins. There are still many on here that won’t berate you for your 2 cents, so don’t be afraid submit a few posts or ask a couple questions!

    Happy 4th of July to all and God Bless America!!!

  18. Donnie says

    Although the Pride of Two Nations Set remains remains available from the Mint, several sets were sold on eBay in the $185.–190. range. What were these buyers thinking? Truly amazing.

    I’m fairly sure that the 2011 Silver Eagle Set has the record for the greatest number of comments on MNB. The build-up for this product was tremendous. On opening day, and for several days afterward, the comments ranged from : 1) the extreme difficulty getting on the Mint’s site (which crashed), 2) everyone and their uncle posting their partial order number and what time they bought their 5 sets (yes, almost everyone ordered the HH limit), 3) this was quickly followed by Mint bashing comments from customers who were shut out after the mintage limit was reached, and 4) postings as to when individuals received their sets.
    Ah yes, the golden age of MNB.

  19. cagcrisp says

    Yesterday MCM was selling NGC PF70 for $495.00

    Today MCM is selling NGC PF70 for $299.00

    What a difference a Day makes (OR the Sold Out sign not being Hung Up in short order)

    Today APMEX is selling PCGS PR70 for $279.99 from their Website

    They’re Not Exactly Flying off the shelf at Any price…Whether it’s OGP OR Graded…

  20. Donnie says

    Consider this: If the total mintage of the Pride Set tops out below 100,000 due to returns and cancellations, the 2019 enhanced reverse proof silver eagle, as gimmicky as some believe, will bump up to third place in the lowest mintage category for this coin series.
    This may result in suddenly making the Set more desirable to Silver Eagle enthusiasts. Or, they may choose to buy a slabbed enhanced reverse proof for probably more cost than a OGP Pride Set.

  21. CaliSkier says

    Donnie you’re “spot” on and I had also played out a similar scenario as well. Of course this depends a lot on how many coins we’re struck by the RCM, of the maximum 110,000? Also both Mints willingness to dedicate minting time to striking more based on demand or lack there of. It would be interesting to see the agreement between the two Mints with all the stipulations/expectations, forecasts, etc? For those of us collecting the series this will be a beautiful version of the ASE to own! Since the Mint has a hard time being transparent, who’s to say when, if, the Mint will retire this coin and offer a brilliant new and truly, “Innovative” American Silver dollar with or without Eagle as part of its naming convention?

  22. CaliSkier says

    On Topic! Weird, I know. Those Bicentennial Issue are still some of my favorite coins all time!!! I was 7 when I remember getting them in change and trying to not spend the cool looking new coins, on candy and Slurpee’s during a hot summer. Needless to say I spent every last coin. Luckily my dad had been collecting annual sets for my brother and I beginning with those mid 60’s(65-57) Special Mint Sets. True, that the sets aren’t worth much, however I like the 3 designs and have fond memories directly associated with them s time/ time period. I recall having a piggy bank fashioned from cheap metal with a patina type finish, depicting George Washington in a row boat crossing the Delaware. Lastly getting to go and see the American Freedom Train in January of 1976! Really awesome experience seeing all the historical displays set up within this traveling train museum type exhibit. My favorite exhibition car was one with sports memorabilia! Those were the days! Happy Days and the Fonz, Laverne and Shirley, etc. Back to coins….

    I still feel a spark when I see a 1776-1976 quarter in change! Hoping that between now and 2026, we see some truly inspiring and innovative changes and designs! We can only hope ,as for many years now, they’ve(Mint) been given the feedback and research((.01,.05) to make and implement many changes! Now get to work on getting the approval(legislation) and make it happen Mr. Ryder!

  23. Erik H says

    CaliSkier,

    I too enjoyed saving the clad bicentennial coins from change. I bought the silver proof set when I was probably 10 and still own it. I pick up the uncirculated set for melt a while back.

  24. jayjaspersgarage on ebay says

    The three 1976 Bicentennial coin designs are going to last the test of time as some of the best and most-timely special designs ever! I was 15 at the time and probably spent hundreds of the quarters in vending machines and in the bridge fare toll-booth boxes during the late 1970’s. Of course that was when a few coins would get you across a bridge and gas was under a dollar per gallon.

  25. cagcrisp says

    Let’s See…

    HHL of 5 is Going Off in 30 minutes

    47 hours and 30 minutes of sales

    Assuming… a LOT of Americans Bought the 10k from the RCM.

    Assuming:

    10,800 sales in 30 minutes x A
    17,000 sales in the Next 125 minutes x B
    4,000 sales in the Next 80 minutes x C
    7,000 sales Until I don’t think it matters x D

    Assuming an Additional Day of sale of…Something…

    …SO…Using my formula for 38,800 is sales x A, B, C and D…

    ..And…A Boatload of Guessing…

    75,666 sales to Date for the Two Nations coins from the United States Mint..

  26. cagcrisp says

    Judy Shelton was just interviewed on CNBC

    She Sure wants a Rate Cut

    She Sure wants to Return to a Sound Money Policy

  27. Donnie says

    If Cag’s estimate is anywhere near being accurate, the current sales figures are around 85,00 (U.S. and Royal Mint sales). This would mean that another 15,000 + need to be sold to exceed the 100 K mintage totals of the 2011 reverse proof and the 2011 burnished uncirculated Silver Eagles.
    Do we root for a sellout of the Pride Set or do we hope the 2019 enhanced reverse proof, after the dust clears, doesn’t exceed the 100 K mintage totals of the previously mentioned Silver Eagles? It would thereby make it the third lowest mintage of any Silver Eagle. Tough call.

    If the 2019 enhanced proof was sold alone in a nice velvet case for about $70. we would have had a 20 minute sellout. Having it as part of a two-coin set alongside a foreign coin for $140. makes a big difference. Many potential buyers may wait it out and buy a slabbed one on the secondary market.

  28. Qui Transtulit Sustinet says

    Nowhere near accurate—27,064 first reported sales for 19XB.

    Overpriced set, in accordance with current Mint strategy.

  29. Qui Transtulit Sustinet says

    Initially listed 19XB sales yet another error in MNB coverage of Mint.

    Poster estimate of early sales for ‘Pride’ set fairly close to actual.

  30. John Q. Coinage says

    Cag, I am not sure the Rate cut desire is anything more than a further stock market greasing to confirm the recent bull feeling based on the “planned” rate cut…… The no inflation mantra from the WH & Fed$ in General is pure BS IMHO, prices only go up except for some food items, tech yes can go down, but food, energy & housing are THROUGH THE ROOF, oops they don’t count those! wtf A rate cut is only helping bigbiz IMO- Mortgage rate has fallen a ton from the bond market drop. If you have some $ and want to get a decent rate the feds plan makes anything but stocks & Property a loser…ca$h is king except in the bank, heck I just got 2.5% & it was a big deal, when I was 8 in the 1960’s my passbook made 5% every year….someone screwed the average savers or people who don’t want to go into the market (age, risk, etc…) I am buying 10,000 RP American Innovation $1 for my retirement kitty……

  31. cagcrisp says

    @John Q. Coinage …

    We do Not need a rate cut at this time.

    There Will be a time for a rate cut and we need to save the cuts.

    Every European nation, with exception of the U.K. has Negative Interest rates for the 2 year.

    …SO…Be glad you got your 2.50%…

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