Q. David Bowers
The First-Strike Ceremony
All specimens of the 1986 Statue of Liberty $ 5 gold coin were struck at the West Point Mint. The initial coinage took place at a ceremony there on October 18, 1985, with various luminaries in attendance. Burnett Anderson, Washington correspondent for Krause Publications, filed this account. (Original transcript of story filed with Numismatic News, October 21, 1985.)
"Gala transcontinental first-strike ceremonies for the three Statue of Liberty centennial commemorative coins reached a climax at 46 minutes past noon on Friday, October 18, when the first U.S. $5 gold piece since 1929 came gleaming from a press at West Point, New York. The control switch for the double strike was thrown by Secretary of the Treasury James A. Baker III, on a press specially positioned for the occasion at the West Point Bullion Depository, where regular production of the authorized 500,000 gold coins began immediately following the first-strike ceremony. The proceedings at West Point were broadcast live over a special hook-up to the U.S. Assay Office in San Francisco, where there were simultaneous ceremonies for the first strikes of the other two Statue of Liberty commemorative coins: a silver dollar and a clad half dollar.
"Baker actually struck two gold pieces, the second at 12:49p.m., three minutes after the first, holding them up in turn for a mass of television and press cameras positioned on a platform behind two rows of chairs for top officials and special guests. (The first coin struck by Baker was placed in a time capsule to be displayed at the Statue of Liberty Museum in New York City and not to be seen again until the capsule is opened on October 28, 2086, the 200th anniversary of the Statue's dedication.) As Baker retired to his chair, Lee A. Iacocca, chairman of the Statue of Liberty-Ellis Island Centennial Commission and the Chrysler Corporation, stepped forward and struck the third gold piece. At that point, U.S. Mint Director Donna Pope, who presided at the West point ceremonies, summoned Secretary Baker to the telephone to order striking to begin at San Francisco. 'Are you there and ready for the first strike?' Baker asked Deputy Mint Director Eugene Essner, at the other end of the line. He then told Essner to proceed. (At the San Francisco Mint (Assay Office) Essner struck the first 1986-S Statue of Liberty silver dollar, and Mint officer Thomas Miller produced the first 1986-S Statue of Liberty half dollar.)
"The same routine was then [continued at West Point] as other officials and guests stepped forward to strike a [$5 gold] coin. Each placed a white glove on one hand and was careful, in lifting the coin with the other hand, to hold it only by the edges. U.S. Treasurer Katherine D. Ortega followed Iacocca to the coin press, and was followed in turn by Rep. Frank Annunzio, who authored the legislation for the Statue of Liberty commemorative coin program. 'It's a beautiful coin,' Annunzio was heard to say as he lifted 'his' strike from the coin press and held it up to view for the media representatives and other spectators.
"The striking ceremonies followed a welcome from Director Pope and three brief speeches. Mrs. Pope also struck a gold piece, following Rep. Annunzio. The invited guests included officials of national, state and regional numismatic associations, officers of major coin and precious metals dealerships, numismatic authors, and Mint suppliers. In her introductory remarks Mrs. Pope pointed out that the half eagle is the nation's oldest gold coin. Authorized in 1792 as the first U.S. gold coin, it is, she said, as old as the Mint, although the first specimens were not struck until 1795.
"The speeches generally stressed the theme of political liberty, of which the Statue is one of the world's best-known symbols, and they were not without their touches of humor. Iacocca, in a reference to a walkout earlier in the week by employees of the company he heads, Chrysler, began his remarks by saying 'this is the second ceremony for me this week involving a strike,' adding that he hoped the second would be better than the first. Secretary Baker said he had been asked earlier by Iacocca what the biggest difference was between his former job as Chief of the White House Staff and his current position. His reply, drawing on the language of a well-known TV commercial, (That of Smith, Barney & Co., securities brokers, utilizing actor John Houseman.) was: 'The biggest difference is in the way I make money. Now I make it the old fashioned way-I mint it.'
"U.S. Treasurer Ortega, who followed Iacocca at the podium and who introduced Secretary Baker, stressed the participation of citizens in supporting the restoration of the Statue of Liberty and Ellis Island immigration station by buying the commemorative coins. 'Purchasing will be made as convenient as possible,' she said, and successful distribution will need the help of retail organizations. I would like to use this opportunity to invite our nation's retailers-large and small-in keeping with the spirit that has built this country from a nation of immigrants into a nation of strong and successful Americans, to lend a hand to make the liberty coin program a success,' she concluded.
"'To strike a coin in the image of the Statue of Liberty is to strike a blow for freedom,' Secretary Baker said. 'It echoes the struggles and triumphs of our past, when millions who 'yearned to breathe free' came to the new world.' Baker made a major point of extending special recog-nition to Rep. Annunzio for writing the legislation and shepherding it through Congress; 'Frank, we all thank you,' he said.
"The Statue of Liberty coins carry surcharges which will go to help pay for rehabilitation of the Statue and Ellis Island, according to Lee Iacocca, who commented, 'We hope eventually to' raise over $50 million with the sale of these coins.' Among others who struck 'first day' coins followingthe departure of the official party were Florence M. Schook, president of the American Numismatic Association; Elizabeth Jones, chief Mint sculptor-engraver and designer of the coin; and William F. May, president of the Statue of Liberty-Ellis Island Foundation."
Distribution
In a sales program that extended from November 1, 1985, through December 31, 1986, distribution of the Statue of Liberty coins was through direct mail, nationwide merchandising firms, and over 4,500 banks in coordination with sales efforts for the related silver commemorative issues. As was the case with other commemoratives of the era, many pieces were struck in advance of the date appearing on the coins. By this time little attention was paid to often-quoted and often-violated Mint policy that coins should be struck only in the year appearing on the dies.
A number of purchase possibilities were given to buyers including Options 5, 6, and 7 described earlier in the present text under the Statue of liberty half dollars, repeated here, as well as additional Options 11 and 12:
(5) Three-coin Proof sets comprised Proof examples of the 1986-S half dollar, 1986-S silver dollar, and 1986-W $5. The advance discount price of $175 was raised on January 1, 1986, to $206.50. This offer was sold out by January 31, 1986. 343,345 sets were distributed. Coins in plastic capsules were housed in a blue velvet presentation case with a hinged lid and a plaque of the Great Seal on the lid. The case and a descriptive certificate were enclosed in a blue cardboard box imprinted on the lid with the Great Seal and "United States liberty Coins." The blue box was placed within a blue slipcover similarly imprinted.