In 1936 the Wisconsin Centennial Commission appointed a Coinage Committee to pursue the development and minting of a commemorative coin to celebrate and help finance the Wisconsin Centennial that year.

The Wisconsin Centennial half dollar came at a time when the commemorative coin market was booming. This surge was due to previous commemorative coins that were minted in low quantities causing them to appreciate in value significantly. Many of these pieces sold at a premium to their earlier prices.

By the end of March of 1936 the Senate passed the bill paving the way for the half dollars. From there, the bill moved on to the House of Representatives where an amendment was requested which would increase the authorized minting to 25,000.

The job of designing the coins fell to David Parsons, a local art student. The only stipulations he was given was that the seal of Wisconsin Territory had to appear on one side, and a badger had to be on the other. However, his designs were deemed unsuitable mostly due to the light relief that did not adequately show the detail of the art. After the Bureau of the Mint rejected his work, the Wisconsin Centennial Commission tasked New York sculptor Benjamin Hawkins with the job of designing the coins. After being given a three week deadline, Hawkins submitted his designs which the Commission of Fine Arts approved almost immediately. 

The image on the obverse, a miners arm gripping a pickaxe, meant to represent the mining activities that drew so many to southeast Wisconsin in the 1820s. In fact, a lead mining boom started in the late 1820s. The metal was so important at the time that many called it “gray gold.”

The badger on the reverse was selected because it is the state animal. This choice also reflects the fur-trading business that characterized the area at the time. The three arrows behind it illustrated the conflict between early settlers and the Black Hawk Indians. The olive branch next to the arrows is meant to symbolize the peace that followed. However, some contend that this “peace” was nothing more than the forceful expulsion of Indians from their land. The “H” appearing below the badger marks the work as Hawkins’. 

The Philadelphia Mint struck the coins and made them available to collectors via mail order at a cost of $1.50 per coin. The composition of the coin, 90% silver, 10% copper, made it more valuable than the face value of $0.50. Organizers marketed the coin at the Centennial Cavalcade of Wisconsin in late July of 1936. The complete minting was sold by the1950s.

Today the images on the coin recall the early days of Wisconsin before its admission to the Union in 1848. Prior to this, the Wisconsin Territory had been part of the Northwest Territory before the British gave up the region amid the Treaty of Paris. The coin is a reminder of the hard-won land that became, and remains, such a part of America’s identity.

Want to read more? Subscribe to the Blanchard Newsletter and get our tales from the vault, our favorite stories from around the world, and the latest tangible assets news delivered to your inbox weekly.

The 1937 silver 50-Cent Antietam coin was minted to commemorate the 75th anniversary of a Civil War battle that had major national significance.

On September 17, 1862, nearly 5,000 were killed and 20,000 were wounded in the Battle of Antietam near Sharpsburg, Maryland. it was the first field army–level engagement in the Eastern Theater of the American Civil War to take place on Union soil and is remembered as the single bloodiest day of the Civil War. Civil war buffs will remember that this battle saw Confederate General Robert E. Lee’s Army of Northern Virginia pitted against Union General George McClellan’s Army of the Potomac.

The period leading up to the battle was fraught with tension. Confederate forces, commanded by the esteemed General Robert E. Lee, were on a winning streak and had initiated an invasion into the Northern states. Their objectives were manifold: to sway the impending midterm elections, garner recognition from Europe, and shift the war’s pressure off Virginia.

On the other side, Major General George B. McClellan led the Union forces. Known for his cautious approach, McClellan moved his troops to counter Lee’s advance into Maryland. In a stroke of luck, the Union stumbled upon the Confederate battle strategies (Special Order 191), offering critical insights into Lee’s tactics, although McClellan’s actions following this discovery were less decisive than they might have been.

The ensuing battle was characterized by ferocity and a high death toll. It was a sequence of relentless attacks and counterattacks across the Antietam Creek, leaving heavy casualties in its wake. The Cornfield, the Sunken Road (also known as “Bloody Lane”), and Burnside’s Bridge were some of the critical conflict zones during the battle.

Despite the intense fighting, the day concluded without a definitive victor. However, due to their numerical disadvantage, Lee’s troops withdrew to Virginia. McClellan’s decision not to chase the retreating Confederates eventually led to his dismissal by President Abraham Lincoln. While the battle ended in a tactical stalemate, the Union considered it a strategic triumph as it halted Lee’s Northern invasion.

The outcome of the Battle of Antietam provided Lincoln with the assurance he needed to present the preliminary Emancipation Proclamation. This declaration asserted the impending freedom of slaves in territories held by the Confederacy, transforming the war’s goal from solely preserving the Union to actively abolishing slavery. Consequently, this new objective made it problematic for European nations to justify siding with the Confederacy.

Baltimore sculptor William Marks Simpson designed the highly sought Battle of Antietam silver half dollar, which was minted in 1937 to commemorate the 75th anniversary of the battle.

The coin’s obverse features the two generals who led the fight that day: General Lee and General McClellan. The reverse reveals a view of Burnside’s Bridge over Antietam Creek which was ground zero for that historic battle in 1862.

The Philadelphia Mint produced the entire mintage of 50,000 silver half dollars in August 1937. The first coin struck was presented to President Franklin Roosevelt on August 12, 1937. The remainder of the mintage were offered by the Washington County Historical Society to the public at $1.65 a piece.

At the time, however, the coin didn’t attract large public interest and, ultimately, 32,000 were sent back to the mint to be melted, leaving a remaining mintage of 18,000 coins. The survival rate is estimated at no more than 15,000 today.

The Antietam silver half dollar attracts strong collector interest today and typically sells for a premium over the price of other commemorative issues with similar mintages and survival rates. Perhaps this is due to the historical and military significance of the battle it commemorated in our nation’s early history.

Want to read more? Subscribe to the Blanchard Newsletter and get our tales from the vault, our favorite stories from around the world and the latest tangible assets news delivered to your inbox weekly.

• Mosby’s Treasure in Virginia
• Idaho Stagecoach Robbery Treasure
• Pirate Treasure at Hawaii’s Palemano Point
• Gangster John Dillinger’s Suitcase Filled With Cash
• Jesse James And His Band of Outlaws Lost Loot in Oklahoma

The allure of hidden treasure and sudden riches is strong. The possibility of a huge stash of gold, silver, jewels, cash and more has driven treasure hunters on expeditions throughout history. Today we highlight five hidden treasures that are still waiting to be discovered – right here in America – somewhere in Virginia, Idaho, Hawaii, Wisconsin and Oklahoma. From pirate treasure to stagecoach robbery loot to suitcases filled with cash – who will be the lucky person to discover these hidden treasures? Are these myths or are they true? Only time will tell.

1. Mosby’s Treasure in Virginia

It is said that somewhere deep in the heavily forested woods of Fairfax County, Virginia, a large treasure is hidden. At the time it was buried, this treasure including gold, silver, jewelry, candlesticks, and other family heirlooms, all of them taken by Union troops from southern homes. At the time, the value of the treasure was estimated to be about $350,000. Today? Estimates put the value at more than $6 million.

In 1863, Confederate ranger John Singleton Mosby and his band of raiders snuck ten miles deep into Union territory. After a successful capture of Union troops at the Fairfax, Virginia courthouse, Mosby sped back toward the Confederate line. However, before he got back to Southern territory, he was warned that Union soldiers were nearby. As the legend goes, Mosby buried the treasure in a burlap sack between two trees. He marked the spot with his knife. While he later sent his men back to recover this treasure, they were captured and killed. It is believed this hidden treasure remains undiscovered to this day.

2. Idaho Stagecoach Robbery Treasure

In the early days of the Idaho territory, stagecoaches provided transportation for people and goods along the routes from Montana to Utah. On July 26, 1865, bandits knows as the Picket Coral Gang held up a stagecoach carrying two large strongboxes filled with gold, including 15 heavy gold bars, and pouches with gold dust and nuggets. While many of the passengers died in the hold-up, a survivor fled to a nearby town and identified the notorious gang. Vigilantes gave chase and soon overcame the bandits killing them all. They had a total of $50 between them. To this day, there is no record of the gold bars ever being sold. Some speculate the loot was buried in the Portneuf Canyon. Who may find this treasure today?

3. Pirate Treasure at Hawaii’s Palemano Point

As the legend goes, 16th century English pirate Captain Thomas Cavendish is said to have buried $5 million in gold, silver, and other valuables near Palemano Point, an exposed reef just off Hawaii’s Big Island. While treasure hunters have tried for hundreds of years, no one has yet to unearth this bounty of Hawaiian riches.

4. Gangster John Dillinger’s Suitcase Filled with Cash in Wisconsin

Known as Public Enemy Number One, one of America’s most famous gangsters, John Dillinger, is said to have buried $200,000 in cash in a suitcase in the Wisconsin woods, just months before his death in 1934.

Dillinger and his men spent the spring of 1934 hiding out at the Little Bohemia Lodge near Manitowish Waters, Wisconsin. The FBI raided the lodge after a phone tip disclosed the gangster’s location. During the shootout, Dillinger escaped out the backdoor with his suitcase filled with cash. According to legend he ran 500 yards north into the woods and dug a hole near two pines and an oak and buried the suitcase. Three months later, Dillinger was shot and killed outside the Biograph Theater in Chicago by federal agents, who had been tipped off by Dillinger’s girlfriend’s landlady, known as “the woman in red.” No one has ever reported finding that suitcase to this day.

5. Jesse James and his band of outlaws lost loot in Oklahoma

If you’ve heard of large treasure of gold from the Wild West era supposedly hidden by Jesse James and his band of outlaws in the Wichita Mountains of Oklahoma, you aren’t alone. For generations, treasure hunters have sought to find an estimated one to two million dollars’ worth of gold bullion hidden by the infamous Jesse James in that mountain range.

James and his brother Frank had strong family ties to Oklahoma. Throughout the Midwest, the pair notoriously robbed trains and banks making them some of the wealthiest outlaws of their day. In 1872, James robbed a Mexican Caravan, owned by a Mexican General near Geronimo, Oklahoma. While being pursued by a posse, James is said to have buried that gold bullion in the Wichita Mountains and it has never been found to this day.

Want to read more? Subscribe to the Blanchard Newsletter and get our tales from the vault, our favorite stories from around the world and the latest tangible assets news delivered to your inbox weekly.

The Trade Dollar is an interesting example of how expanding global trade can give rise to new coins.

In the mid-1800s, the Mexican peso was a highly valued means of exchange in China. In contrast, the American silver dollar was far less popular due to its relatively light weight. This meant that American merchants had no choice but to use Mexican and Spanish currency when engaging in commerce.

Around this time, Louis Garnett, who served as both the treasurer and assayer of the San Francisco Mint, suggested that the U.S. create a new commercial dollar for export to East Asia. The intent was for this new coin to compete with other trade coins that were already well-established in those areas.

By 1872, there was a bill before Congress seeking authorization for such a coin. Around the same time, the Mint began to strike several commercial dollar designs in preparation for the new piece upon passage of the bill. Eventually, it was decided that the design would show Liberty as represented by a seated figure facing left, a reference to the direction of East Asia. The obverse showed a bald eagle as required by law. Interestingly, the image of the eagle on this coin was a reversal of most other coins of the era given that the eagle held three arrows in its right claw and an olive branch in its left.

After the coin was minted and circulated, Henry Linderman, American financier and superintendent of the U.S. Mint, ordered a review of the coin’s acceptance in China. He learned that the coin was fairly well circulated in southern China but failed to experience widespread usage in the north.

Around this same time, Congress passed the Specie Redemption Act which gave the Treasury permission to pay silver coins in exchange for paper currency. This decision, coupled with a drop in silver prices, led to an increase of silver coins in American transactions and Trade Dollars started flowing back into the US. Soon, the intrinsic value of the coin sunk below one dollar and by late July of 1876 Congress passed a bill that officially demonetized it.

Despite this, Trade Dollars remained in circulation and some employers in the US started to pay workers with them, as they could be purchased at a discount as the price of silver dropped. In response, many towns set a fixed value on the coins. Problems intensified as bullion prices continued to drop through the 1880s, which exacerbated losses among those who paid face value and ultimately were forced to sell at melt value.

Eventually, Trade Dollars were once again made legal tender upon passage of the Coinage Act of 1965. Today, the bullion and numismatic value of the Trade Dollar is greater than its face value of one dollar.

These coins, consisting of 90% silver and 10% copper, represent the confluence of change seen in American commerce in the late 1800s when commodity process, competing currencies, and international trade all influenced the fate of the Trade Dollar.

Want to read more? Subscribe to the Blanchard Newsletter and get our tales from the vault, our favorite stories from around the world and the latest tangible assets news delivered to your inbox weekly.