Hobbies And Interests
Commemorative Coin
A commemorative coin is a special coin issued by the U.S. Mint to memorialize or honor an outstanding person, a historic event or a special place. These coins are considered legal tender but are not circulated for general use. They are usually only minted for a short time and in small quantities, which makes them more valuable. The sale of these coins, often at several times their face value, provides money for special causes and projects. From 1982 to 2011, more than $400 million has been raised and used for things such as building museums and conserving national memorial and historical sites like the Vietnam War Memorial and George Washington's home.
Circulating Coin
A circulating coin is one used by the general public to complete normal monetary transactions. A circulating coin is defined as having been used at least one time. As of 2011, the U.S. Mint produces penny, nickel, dime, quarter, half dollar and dollar coins. When coins were first minted, by law, they had to be made of gold, silver or copper. The current coins are made mostly of zinc, nickel and manganese brass.
Circulating Commemoratives
Sometimes a coin can be both commemorative and circulating. The 50 State Quarters Program started by the U.S. Mint in 1999 is a good example. The coins were made to honor each of the nation's 50 states. These quarters will never be made again, but are in circulation. The $1 Sacagawea coin is another example of a coin that is both commemorative and circulating.
Buying a Commemorative Coin
There are many reasons to buy a commemorative coin. It is a way to participate in history. It can be a purely financial transaction; most commemorative coins increase in value. Others find it an interesting hobby and enjoy seeing the new coins and adding them to their collections.
U.S. Mint Locations
Commemorative coins are made in four of the U.S. Mint's locations: San Francisco, California; Denver, Colorado; Philadelphia, Pennsylvania; and West Point, New York. Circulating coins are manufactured at the Philadelphia and Denver facilities. The fifth location is Fort Knox, Kentucky, where U.S. gold bullion is stored and the final location, Washington, D.C., is the mint headquarters where policy is formed.