Q. David Bowers
Follow-Through
On June 24, 1936, after the distribution had ended, the commission made the fol-lowing announcement: (Per an unattributed article, "100 Sets of Half Dollars Up For Sale," June 24, 1936, furnished to the author by Steve Innarelli.) "When [the Rhode Island half dollars were minted] the first 100 coins from each of the three mints were placed in separate envelopes by the Mint authorities and numbered according to the order they came from the dies. This was done because the committee understood that coin collectors are particularly desirous of getting the early coins struck, accompanied by some authentication by the Mint of the order in which the given coins are struck. This being the case, the committee was desirous not only of thus cooperating with the collectors, but also to secure the enhanced price for these coins would be thus attainable."
The article went on to say that the coins would be sold in sets of three, separately by number to the person offering the highest price. Bids were to be received by the committee before the close of business on July 13, 1936. In charge of the offering was a special subcommittee consisting of Ira Lloyd Letts, Addison P. Munroe, and A. L. Philbrick.
On February 23, 1938, the Rhode Island and Providence Plantations Tercentenary Committee, Inc. passed out of existence, following a motion for dissolution granted by Justice Jeremiah E. O'Connell in Superior Court in Providence. A report noted that about $24,000 profit had been derived from the sale of commemorative half dollars, of which about $16,000 was given towards the cost of a memorial for Roger Williams. As of February 23, 1938, $322 was the balance remaining in the committee's account.
Collecting Rhode Island Half Dollars
It was not unusual in later years for groups from a few dozen to a hundred orso Rhode Island Tercentenary half dollar sets to come on the market. The Amon G. Carter, Jr. estate, dispersed by John N. Rowe III in the 1980s, contained hundreds of Rhode Island coins which had been held since the 1930s. Today most small hoards have probably been dispersed, but there are enough Rhode Island half dollars in numismatic circulation that the coins are among the least expensive of their era. No significant criticisms were ever mounted of the design, and ever since the time of issue, the coins have been highly desired by collectors, despite the questionable circumstances of March 5, 1936.
Rhode Island half dollars are readily available singly and in sets, with typical grades being MS-60 to MS-63, with contact marks on the canoe on the obverse and the shield on the reverse. Higher level coins such as MS-64 and MS-65 are not hard to find but are elusive in comparison to the lesser condition pieces.
GRADING SUMMARY: Check the prow of the canoe (especially) and the high points of the figures for handling marks. On the reverse the anchor and surrounding areas should be checked, but these are not as crucial as the obverse characteristics. Most specimens have a combination satiny-frosty surface. Many are light gray in color.
Commemorating: 300th anniversary of the founding of Providence, Rhode Island
Obverse motif: Roger Williams and Indian
Reverse motif: Elements from Rhode Island State Seal
Authorization date: May 2, 1935
Dates on coins: 1936 (also 1636)
Date when coins were actually minted: 1936
Mints used: Philadelphia, Denver, San Francisco
Maximum quantity authorized: 50,000
Total quantity minted (including assay coins): 20,013 Philadelphia, 15,010 Denver, 15,011 San Francisco
Assay coins (included in above): 13 Philadelphia, 10 Denver, 11 San Francisco
Quantity melted: None
Net number distributed (including assay coins): 20,013 Philadelphia, 15,010 Denver, 15,011 San Francisco
Issued by: Rhode Island and Providence Plantations Tercentenary Committee, Inc. (Paul Francis Gleeson, corresponding secretary; Ira Lloyd Letts, chairman) through banks and coin dealer Horace M. Grant; some mail orders filled by the Rhode Island Hospital National Bank, 15 Westminster Street, Providence, Rhode Island.
Standard original packaging: Paper coin envelopes; insert-type cardboard holders; tissue paper wrapping (used by Rhode Island Hospital National Bank and Grant's Hobby Shop)
Official sale price: $1 per coin ($1.50 by mail)
Designers of obverse and reverse: John Howard Benson and Arthur Graham Carey
Interesting fact: The distribution of this issue caused a major scandal.
(average market prices)
1936 (summer) MS-63 $12
1940 MS-63 $4.50
1945 MS-63 $7
1950 MS-63 $6
1955 MS-63 $18
1960 MS-63 $28
1965 MS-63 $50
1970 MS-63 $55
1975 MS-63 $135
1980 MS-63 $975
1985 MS-63 $650
1986 MS-60 $345, MS-63 $600, MS-64 $1,300, MS-65 $2,500
1990 (spring) MS-60 $320, MS-63 $390, MS-64 $800, MS-65 $3,500
1990 (December) MS-60 $320, MS-63 $335, MS-64 $410, MS-65 $1,625
Note: To find the price of a single coin, divide by three (and add a small premium, for sets usually sell for slightly less on a per-coin basis than single specimens).