Q. David Bowers
Following the terms of the authorization, the remaining 100,000 authorized pieces were ordered from the Mint and were produced in July 1921 with the 1921 date added to the left obverse field. An additional 53 pieces dated 1921 were reserved for assay. The obvious intent was to increase sales by encouraging collectors as well as citizens in general to buy the 1921-dated coins in order to have a complete set of Pilgrim halves.
Sales quickly slowed, for during 1921 America experienced a nationwide economic recession. Unsold pieces were subsequently returned for melting, amounting to 48,000 pieces bearing the 1920 date and 80,000 dated 1921, leaving net distributions of 152,000 for 1920 and just 20,000 for 1921.
Writing in 1937 in The Commemorative Coins of the United States, B. Max Mehl commented on the 1921 Pilgrim half dollar and its effect upon collectors: "Apparently the committee in charge thought they could do as well with another issue, and in 1921 proceeded to strike 100,053 more of the coins, but they soon found that some things can be done successfully only once and the committee returned 80,000 of the coins to be remelted, therefore only 20,053 were sold at $1 and remained in so-called circulation. Naturally this makes the 1921 a very scarce commemorative half dollar, and incidentally this was the beginning of the hot idea of trying to 'get' the collector at least twice. And from the way collectors have responded to the various subsequent issues is indicative that collectors, whether they like it or not, are going in for minor varieties of commemoratives."
Collecting Pilgrim Half Dollars
The vast majority of 1920 Pilgrim half dollars and some of those dated 1921 went to the general public with the result that many coins subsequently suffered signs of handling, wear, and other negligence. A large hoard of thousands of 1920 Pilgrim half dollars, all in original Mint cloth shipping bags, was sold by Paramount International Coin Corporation circa 1967-1968. (Per a recollection of Raymond N. Merena, general manager of Paramount at the time.) The market was not particularly strong at the time, and most of the coins were sold for about $8 each.
The typical grade for a 1920-dated Pilgrim half dollar is apt to be from AU-50 to MS-60 or slightly finer. High level Mint State coins are quite elusive.
Although many 1921-dated pieces were sold to the public, apparently most went into the hands of dealers, collectors, and speculators. Today the typical example encountered of this date is apt to be MS-63 or close to it. Examples showing wear are seldom seen.
Pilgrim half dollars of both dates are known with evidence of having been struck from clashed dies which came together without an intervening planchet, thus producing an outline of the ship on the obverse. Nearly all examples seen are dated 1920. Some 1920 halves were struck from shattered dies, with breaks being especially prominent on the reverse.
GRADING SUMMARY: On the obverse check the high areas of Gov. Bradford's portrait and his hat for friction. On the reverse check the ship's rigging and the stern of the vessel. Most coins have scattered contact marks, particularly on the obverse. Nearly all 1921 coins are this way.
Many coins (particularly coins which are early impressions from the dies) show tiny raised lines in the obverse field, representing die finish marks; these are not to be confused with hairlines or other evidences of friction (which are recessed).
Commemorating: 300th anniversary of the landing of the Pilgrims
Obverse motif: Portrait of Bradford
Reverse motif: Mayflower ship
Authorization date: May 12, 1920
Dates on coins: 1920 (also 1620-1920)
Date when coins were actually minted: 1920 Mint used: Philadelphia
Maximum quantity authorized: 300,000 (500,000 coins were specified in the original bill, but the quantity was changed to 300,000 before the bill was passed)
Total quantity minted (including assay coins): 200,112
Assay coins (included in above): 112
Quantity melted: 48,000
Net number distributed (including assay coins): 152,112
Issued by: Pilgrim Tercentenary Commission utilizing The National Shawmut Bank of Boston and other outlets
Standard original packaging: Apparently, none of official nature (some were distributed in square cardboard boxes, enclosing a coin and a small printed certificate, imprinted on the cover as follows, apparently for a celebration in Rhode Island: SOCIETY OF COLONIAL WARS / IN THE STATE OF/RHODE ISLAND AND / PROVIDENCE PLANTATIONS / BY ITS GOVERNOR / HENRY DEXTER SHARPE, ESQ.)
Official sale price: $1
Designer of obverse and reverse: Cyrus E. Dallin
Interesting fact: The portrait of Gov. William Bradford on the obverse is stylized; no actual likeness is known.
(average market prices)
1925 MS-63 $1.50
1930 MS-63 $1
1935 MS-63 $1.50
1936 (summer) MS-63 $1.75
1940 MS-63 $1
1945 MS-63 $2
1950 MS-63 $2
1955 MS-63 $3
1960 MS-63 $5
1965 MS-63 $10
1970 Ms-63 $20
1975 MS-63 $38
1980 MS-63 $275
1985 MS-63 $200
1986 MS-60 $65, MS-63 $275, MS-64 $425, MS-65 $900
1990 (spring) MS-60 $60, MS-63 $100, MS-64 $310, MS-65 $1,900
1990 (December) MS-60 $60, MS-63 $85, MS-64 $180, MS-65 $940