In many ways, the first dollar coin issued by the U.S. – the Flowing Hair Dollar – was a failure. The uninspired design was criticized by many and, as a result, the coin was only minted in 1794 and 1795. When the U.S. Mint prepared to replace the design with something new they were determined to get it right. What followed was the creation of the Draped Bust coin.

The designers had certain parameters when conceptualizing the look of the coin. The design would need to include an eagle, the word “Liberty,” stars, and the words “United States of America.” The man behind the imagery of the coin was Robert Scot, the Chief Engraver of the United States Mint from 1793 to 1823. His original training was in watch making during his early years in Scotland. His work also included scientific illustrations like the 25 copper plates he engraved for a 1788 reprint of Natural Philosophy, a book by English chemist William Nicholson. The book explored the physical world and was, in some ways, a precursor to the more rigorous and scientific pursuit of biology and physics.

Scot later moved to Fredericksburg, Virginia where he began designing the look of that state’s currency. During this part of his career, he worked under then Virginia Governor Thomas Jefferson. Scot moved to Philadelphia shortly after Benedict Arnold and British soldiers burned Richmond. From this point forward his career and indelible mark on U.S. history took shape and by 1782 Scot was selected as the engraver for the Great Seal of the United States.

By 1796, Congress was prepared to move forward with a new design. The obverse would feature the profile of Ms. Liberty. Though no one is certain about the reference used for the woman, some believe that Scot drew inspiration from Ann Willing Bingham, a Philadelphia socialite. This may be due to the fact that she had a correspondence with Thomas Jefferson, who previously worked with Scot. Additionally, Bingham was a vocal advocate for greater inclusion of women in politics, therefore it is fitting for her to be represented on ubiquitous symbol of the U.S political identity.

The reverse side of the coin shows the traditional bald eagle image with arrows in one claw and an olive branch in the other. There are thirteen stars above the shielded eagle and a ribbon reading “E. Pluribus Unum.” In time, the national motto “In God We Trust” would replaced these words.

Due to the technical limitations of the time the coin occasionally contains variations and errors. In some instances the sizes of the letters varies, or overstrikes create differing reliefs. There are even error coins that feature only 15 stars despite the existence of 16 states during the time of minting.

Today the coin is a representation of how beautiful U.S. currency can be when a skilled designer and engraver meets the high standards of the American people.

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What do Hollywood movie studios and the foreign policy declaration by President James Monroe, known as the Monroe Doctrine, have in common?

No doubt it’s an odd pairing.

The answer is – a 1923 commemorative silver half dollar.

In the early 1920s, scandals were tarnishing the reputation of the motion picture industry.  Within a span of a few months, actor Wallace Reid died from a drug overdose, director William Desmond Taylor was murdered under mysterious circumstances and “Fatty” Arbuckle was indicted for killing an actress.

The movie studios desperate to repair their image across America launched a public relations campaign. They founded a committee: the American Historical Revue and Motion Picture Historical Exposition, to tackle the project. Yet, they needed funding.

Call it creative financing?

The Exposition decided that a commemorative coin could serve them well – raising funds and also generating positive PR for the movie industry.

The committee members looked back in history 100 years and decided that the Monroe Doctrine of 1823 could make for a popular coin.

History buffs will remember this important foreign policy statement issued by President Monroe in 1823 which stated to the world in no uncertain terms that the U.S. would not tolerate European interference, control or influence in North and South America.

Thus, the idea for the Monroe Doctrine Centennial Half Dollar was born.

Ultimately, the commemorative coins were put on sale for $1 each. However, demand fell short of the total 274,077 silver coins that were minted.

Many Monroe Doctrine Centennial Half Dollars were released into circulation at face value after sales fell well short of that number – which is why collectors today will find this coin is typically offered in a circulated state.

A sculptor – Chester Beach – designed the elaborate silver coin. The obverse features the busts of Monroe and his Secretary of State in 1823, John Quincy Adams. Circling the coin are the inscriptions UNITED STATES OF AMERICA and HALF DOLLAR. On the left you will see: IN GOD WE TRUST, and on the right the date and mint mark.

Originally, the reverse was intended to be an image representing North and South America. However, instead, Beach created two female figures which were drawn in a rough approximation of the shape of each continent.

The North American figure holds a branch in her left hand in the area of northern Canada while passing a twig to South America through Central America with her right hand. The South American figure holds a cornucopia.

The coin also depicts the major ocean currents of the Atlantic and Pacific to signify the unimpeded flow of goods between the two continents thanks to the Monroe Doctrine. The inscriptions MONROE DOCTRINE CENTENNIAL and LOS ANGELES encircle the border of the reverse.

Are you curious? See the artistry of this truly unique coin here.

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It took Congress three separate attempts – over a span of nearly 60 years – to approve the striking of a 2-cent coin.

The First Attempt

In the spring of 1806, Senator Uriah Tracy from Connecticut first introduced legislation to authorize the U.S. Mint to strike a two-cent coin.

Not everyone liked the idea.

Concerned about fraud, Mint Director Robert Patterson used his political might to stop the plan.

To illustrate his concerns, Patterson sent a brass button alongside two of the composite blanks for the proposed 2-cent coins to Senator Tracy to show how easy it would be to swap a button in the place of the proposed coin.

Senator Tracy backed down.

If at First You Don’t Succeed…

The idea of a 2-cent coin surfaced again in 1836.

President Andrew Jackson’s Treasury Secretary Levi Woodbury proposed a 2-cent coin for the second time. And, the mint assayer produced pattern coins for these pieces.

The Mint Director stepped in. Again.

Robert M. Patterson had taken the helm of the U.S. Mint – the son of Robert Patterson who had stalled the initial attempt back in 1806. Father like son! The young Patterson was also able to stop the 2-cent coin from becoming a reality.

Civil War Created a Third Opportunity

The onset of the Civil War in 1860 created a dramatic coin shortage throughout the divided nation. Citizens hoarded coins. The Treasury Department responded by issuing paper fractional currency – in denominations of 3, 5, 10, 15 and 25 and 50 cents to replace the nation’s silver coinage.

Congress passed the Act of April 22, 1864, which – after three tries – finally passed into a law a provision to create a bronze two-cent piece.

The 2-cent piece was the first coin to sport the motto IN GOD WE TRUST, backed by the support of Treasury Secretary Salmon P. Chase.

First minted in 1864, the 2-cent coin appeared as an initial success as the coin-starved public began to use and circulate the coins.

Yet, once the Civil War ended and regular coins reappeared in circulation, usage of the 2-cent coin dropped precipitously.

In the end, the short-lived circulation of the 2-cent coin was an experiment that failed.

The 2-cent coins were minted only from 1864 through 1873. These unique coins were greatly influenced by politics and war.

In 1865, the Confederate surrender ended the deadliest and most divisive war ever fought on American soil. Nearly 620,000 soldiers were killed, millions more were injured. We have a 2-cent coin from 1865, one of the most pivotal years in U.S. history.

You can see the intricate beauty of this historical masterpiece here.

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Many people forget how much of history is governed by chance. There is no better example of this than the circumstances leading up to the Louisiana Purchase. This enormous part of the U.S. passed through several owners before finally becoming a part of the nation’s identity.

Originally, the 530-million-acre section of land was owned by France because of French explorers who originally laid claim to the area in the late 1600s. During this time, the French built a few settlements near the Mississippi. However, by 1762 the French ceded the entire area to Spain via the Treaty of Fontainebleau. This agreement was conducted in secret as the French had recently suffered defeat in the Seven Years’ War. As a result, the territory west of the Mississippi fell to Spain while the territory to the east went to the British.    

By 1799 Napoleon was in power in France. With his grand ambitions to revitalize the French empire he was able to reclaim, through formal agreements, the Louisiana territory from Spain. This arrangement was intended to be secret, however, President Thomas Jefferson learned of the transfer and immediately acted to secure the lower Mississippi area for the U.S. to ensure the port of New Orleans remained accessible to American shipping. The deal would end up being far more expansive, and expensive, than Jefferson imagined.

Napoleon was in fact prepared to sell all the territory. The reason: Napoleon believed that he was at risk of losing the region to the British. However, if he sold the area while it was still in his control, he could at least gain financial compensation for the territory. The U.S. paid $15 million for an area totaling 828,500 square miles. Officials signed the treaty in 1803. The result was the doubling in size of the United States.  

Nearly 100 years later Congress authorized a $15 million budget for the Louisiana Purchase Exposition, which was popularly known as the St. Louis World’s Fair. The exhibition included participants from over 60 countries and nearly all the 45 states in existence at the time.

To commemorate the event Congress authorized the minting of 250,000 gold dollar coins. Farran Zerbe, the President of the American Numismatic Association at the time, proposed minting two designs to boost sales by enticing people to own the two-coin set.

Both coins would have the same design on the reverse, an olive branch, and the anniversary dates. The obverse of one coin would feature Thomas Jefferson’s profile, and the other would feature William McKinley’s profile. Initially, the intent was to sell the coins to those attending the World’s Fair for $3 each. This price made the coins relatively expensive given that it was triple the face value.

In total, 20 million people attended the fair and the popularity of the event inspired the song “Meet Me in St. Louis.” Today, the remaining exposition coins are a reminder of the earliest days of the nation and the chance events that gave rise to the expansive territory of the United States.

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