Monday morning summary for November 6, 2023: 1,794 designs withdrawn

Monday morning summary for November 6, 2023: 1,794 designs withdrawn

amazing! Just wow! This was our reaction to the US Mint’s announcement that it had canceled plans to use designs of the 1794 Flowing Hair dollar on the 2024-2025 US Liberty coin and medal.

In my editorial in the November monthly issue of World of currencies About the Mint’s decision to revive the designs of the 1794 Flowing Hair dollar, she asked: “…is this regressive approach appropriate to the program of American freedom?” Reminding readers that “the core concept of the series when presented is to explore new concepts of freedom.” However, in that editorial I predicted that the program would be a hit with collectors. I followed up in an editorial in our November 13 issue, where I addressed some concerns about recreating designs perfectly.

But now comes the surprise announcement that the Mint has reversed the decision to use the 1794 designs in the American Liberty Program, essentially bowing to the will of the Citizens Advisory Committee on Coins, one of two bodies that advise the government on coin and medal designs. The CCAC’s main objection is that the U.S. Freedom Medal and Coin Program is intended to “emphasize modern images of freedom,” not revived designs from the past.

I am not surprised that the CCAC objects to the use of 230-year-old designs, as the idea of ​​doing so constitutes a violation of the fundamental principle of the American Freedom Agenda.

It will be interesting to see how the currency community reacts. There were critics of the idea of ​​using 1794 designs, as well as supporters.

The decision also raises questions about whether the Mint should focus on creating modern designs suitable for the 21st century, focus on reviving old classic designs, or continue to do both as has been the case since the 1980s when the first American Eagle bullion coins were introduced with Their Retro Designs New coins bearing classic designs from the 18th, 19th, and 20th centuries often sell well. Conversely, some modern images of freedom on coins have been criticized, even condemned. Collectors by no means agree on old versus new styles.

Although this number is indicative of what we know now (that the 1794 designs may still be used in some other programs), we have to be careful. With a major reversal in mint planning, we have to be prepared for further change in what mints release in 2024 or 2025. All we can say for sure is that collectors will react… in some way.

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