Q. David Bowers
"Your committee on counting reports that the packages containing the pieces reserved by the several mints for the trial of coins, in accordance with Section 3539 of the Revised Statutes, were delivered to us by the superintendent of the Mint at Philadelphia, and upon comparison with the transcripts kept by the director of the Mint were found to be correct. Several packages were selected from the deliveries of each month from each mint of all denominations coined, and the coins contained therein were counted and found to agree with the number called for in each package.
"The committee on assaying respect-fully reports that it has completed the assays on samples selected from the residues, or reserved coins, representing the various denominations coined by the mints of Philadelphia, Denver, and San Francisco during the calendar year 1934. The results of the assays as reported show that the coinage has been well within the legal limits of three one-thousandths for silver .... "
The report went on to note that against the standard of 900.00 (parts out of 1,000.00) fine silver, assays showed an upper variance not exceeding 900.9 and a lower variance not below the figure of 898.6. Further: "The committee on weighing reports that in accordance with the rules adopted by the Assay Commission in 1930 the committee received from the committee on assaying the residues of the several parcels of reserved coins, and took there from at random from the parcels of each mint such a number of coins of each of the denominations represented and so distributed by dates of coinage as to be sufficient for the purpose of weighing. One or more coins were selected from substantially every one of the 233 parcels presented. Accordingly, 286 were selected for weighing. Each of these coins was weighed to an accuracy of 0.00 [sic] grain and the results recorded. The standards used were a set of sealed coin weights and a set of grain weights, delivered to the commission from the Bureau of Standards, Washington, D.C., under seal and accompanied by certificates signed by the Director of the Bureau. The weighings were made by the method of substitution on the balance belonging to the Philadelphia Mint regularly employed for this purpose. This balance was tested before the weighing of the coins was commenced and was found to be accurate and reliable and very well adapted for the work of the committee."
While the description just quoted of the Assay Commission procedure is not a gem of brevity, it does illustrate why extra commemoratives were made. In the instance of the 1892-1893 Columbian half dollars, in which 2, 105 were made for assay, it can be assumed that members of the Assay Commissions of that early time selected just a few coins at random for testing.
The question arises as to the disposition of the commemorative coins reserved for assay, and there is no fixed answer to this. The intent was that such coins should be melted for conversion into other coins, but in practice it is known that from time to time Assay Commission members and Mint employees obtained specimens by exchanging other current coins for them, a legitimate procedure. Because of this it is reasonable to assume that some commemorative coins intended for assay were in fact distributed. At the time they were novelties. Net distribution figures given in the present text reflect that assay pieces were not destroyed unless Mint records specifically state otherwise (as, for example, with the 1903-dated Louisiana Purchase Exposition gold dollars, of which 258 assay pieces were made with 250 later melted, and the 1915-S Panama-Pacific half dollars, of which 30 assay pieces were struck and then listed in government records as having been melted).
Proofs
Proofs (coins with special finishes; including brilliant or mirror like Proofs and grainy Proofs known as Matte Proofs or Sandblast Proofs, depending upon the process used) were struck of certain early (1892-1954 era) commemorative issues, the best documented being 50 Sandblast Proofs of the 1928 Hawaiian half dollar and 100 brilliant Proofs each of the 1903-dated Jefferson and McKinley portrait Louisiana Purchase Exposition gold dollars. John R. Sinnock, chief engraver at the time, dipped a number of 1936 Elgin Centennial half dollars in an acid bath to give them a special appearance. Presumably, such pieces cannot be differentiated from do-it yourself "Matte Proofs" made outside of the Mint.
Numerous questionable "Matte Proof" half dollars have been made outside of the Mint by pickling or sandblasting normal business strikes. It is my observation that apart from certain documented specimens many early coins offered as "Proofs" on the market are either particularly nice business strikes or, in the case of Sandblast and Matte Proofs, pieces which have been artificially treated outside of the Mint. I urge extreme caution in buying such coins. The Encyclopedia of United States Silver & Gold Commemorative Coins, by Anthony Swiatek and Walter Breen, gives much information concerning coins the authors consider to be Proofs, and the present reader is referred to that source for further information.
Also, beware of so-called "presentation pieces" if they are offered for prices significantly above what normal coins are worth. I have read much original correspondence to and from Mint officials and to and from designers and commissions, and very little exists in original documentation to verify that coins with special surfaces were made. This is especially true for issues of the 1930s, which in nearly all instances were made in great haste. There are, however, numerous coins in existence which were struck from lightly polished dies, or otherwise are partially prooflike. This discussion applies only to Proofs of the 1892-1954 era. From 1982 to date millions of Proof commemoratives have been made.
Die Variations
A number of different commemorative half dollars exist with clash marks in the fields and elsewhere, the result of the dies having come together without an intervening planchet. 1920 and 1921 Pilgrim Tercentenary half dollars exist with such marks in the obverse field, the 1924 Huguenot-Walloon is known with subtle clash marks on the obverse, the 1922 Grant gold dollar exists with clash marks on the right side of the cabin on the reverse, and other examples could be cited. A number of these variations are described in detail in the Swiatek-Breen book, and others are discussed from time to time in the pages of The Commemorative Trail.
The Genuine and the Counterfeit
In the collecting of commemorative coins there are some precautions to observe. First: Make sure that each piece is authentic. There are some clever counterfeits in existence. Fake stars have been punched on the obverses of 1922 "Plain" Grant half dollars. Centrifugal casts have been made of 1935 Hudson, Old Spanish Trail, and Hawaiian Sesquicentennial half dollars and other early issues.
While such situations are in the minority, it still pays to be alert when buying commemoratives (or any other coins). Make purchases only from established dealers who give a guarantee of authenticity. Counterfeit coins are often sold at "bargain prices" to those buyers who want "cash deals;" in fact, this is one of the standard ways to unload phony coins on unwary buyers. Of course, a counterfeit is no bargain at any price. Always (no exceptions) insist on a written invoice when you buy a coin. Characteristics of counterfeit commemorative coins are given from time to time in various periodicals including The Numismatist, The Commemorative Trail, Coin World, and Numismatic News, among other publications, as well as in the Swiatek-Breen reference (The Encyclopedia of U.S. Silver & Gold Commemorative Coins).
An early variety of fake 1922 Grant with star half dollar was described by William J. Schultz in The Numismatist, May 1932: "In the genuine Grant, with star, the finish of the star inside and up to the points thereof is the same finish as that in the field of the coin; also, you will find the star but slightly embedded and evenly surfaced upon the field of the coin. In the fraudulent coin, the exact position of the star varies from the position in the genuine, also in using the punch on a plain field, the metal when struck is thereby forced downward causing a bulging uneven-like surface about the star, while the star itself is unfinished and its interior is silver-white in color."
The 1930s saw other fakes being made, and on December 22, 1935 Nicholas Derevitzkay was arrested in New York City at his apartment and was charged with molding counterfeits of the 1915-S Panama Pacific, 1921 Alabama, 1921 Missouri, 1928 Hawaiian, 1926 Oregon, and 1925-S California half dollars, according to a contemporary account in The Numismatist.
Since that early time many other forgeries have been made. As it is not practical for the average buyer to know the characteristics of spurious pieces, your best protection is to buy from a dealer who guarantees what he sells. Do this, and chances are excellent that you will never see a forgery. Certain types of certified or "slabbed" coins, including those certified by the Numismatic Guaranty Corporation of America (popularly known as NGC), ANACS, and the Professional Coin Grading Service (PCGS), come with the guarantee that the coins in the slabs are as represented (genuine) and that any item found to be a counterfeit can be returned to the grading service for indemnification. (Per January and February 1991 correspondence and telephone calls from the author to John Albanese of NGC (located in Parsippany, New Jersey), Leonard Albrecht of ANACS (Columbus, Ohio), and David Hall of PCGS (Newport Beach, California). Contact individual grading services for the provisions of guarantees in effect at any given time.) The American Numismatic Association Authentication Bureau (Colorado Springs, Colorado) will authenticate coins for a fee, as will the International Numismatic Society Authentication Bureau (Washington, D.C.).