Just over a century ago, a large sailboat set off from the eastern seaboard. It wasn’t meant to transport goods or passengers. It was for racing. It’s mast and sail were huge. Below deck was barren, fitted only with exposed wood frames. Named “Reliance” it was built with money from noted New York magnate Cornelius Vanderbilt. The Vanderbilt family was big into yachting so it followed that one of them would build a boat to compete in and win the America’s Cup race.
Reliance set sail in 1903 and handily won the America’s Cup races. At 108-feet, it required a crew of 64 hands to sail. Soon, revised yachting rules made such a boat ineligible for racing. Usable only for winning those races, the boat was sold for scrap just 10 years later in 1913.
This month, the Reliance made an encore appearance on a new US coin. That’s something of a secret. Few will ever see, acquire or use the coin. That’s a result of it being part of the “American Ingenuity” series of golden dollar coins issued by the US Mint....
Hoping to follow in the footsteps of the wildly successful 50 State Quarters series that virtually revived coin collecting in 1999, these dollars are supposed to showcase an aspect of ingenuity from each state. The sad truth is, none will ever go into circulation, they won’t be distributed to banks and no retailer will have them in cash drawers for kids to go through. They won’t even be available for use at face value. They can only be purchased from the Mint at a premium price.
The new coin featuring the boat Reliance is supposed to showcase ingenuity from Rhode Island – a state renowned for yachting. The image on the coin is impressive including the rope framing the sailing scene. But, why spend the time and money striking coins few will see or buy? The entire concept of the “American Ingenuity” coin series is anything but ingenious given how few will be seen by the general public. Clearly, the ship was a big winner but the coin concept is a loser.
Alternately, a far more inspiring coin is also set to be issued this month. This one is all but guaranteed to be in strong demand and possibly a sellout.
On March 24 all who have given their country the highest level of sacrifice in battle will be honored with a dynamic set of coins honoring soldiers who earned the Purple Heart medal. First created during the Revolutionary War, the Purple Heart came about when there was no other recognition for soldiers. General George Washington himself authorized the award for any member of the Continental Army wounded in battle.
Since its inception, the Purple Heart has been awarded to over two million soldiers wounded or killed in battle.
Being issued are four different commemorative incarnations. The series includes a clad half-dollar; a silver one-dollar; a five-dollar gold coin weighing about one-quarter ounce; and a dramatic, colorized silver dollar.
Designs on the coins vary from the clad half-dollar showing the torso of a soldier on crutches. His left leg has been amputated from the thigh down. A Purple Heart medal and the inscription “ALL GAVE SOME” are to the left. On the reverse, a young boy holds the dress cap of a Marine with the words, “SOME GAVE ALL” inside the silhouette of a missing Marine.
The five-dollar gold coin shows the medal beside the inscriptions, “THE PURPLE HEART,” “2022,” and “A GRATEFUL NATION HONORS AND REMEMBERS.” On the reverse is George Washington’s signature over a textured stripe.
Finally, the silver dollar coin features a nurse in a World War I helmet attending to a wounded soldier. In World War I alone, more than 23,000 women served. The other side shows the actual medal with the inscriptions “COMBAT WOUNDED & KILLED IN ACTION.” Five stars represent the branches of the military.
In a collectible twist, a special, colorized version of the silver dollar is being produced. On that, the Purple Heart medal is spot-coated in gloss purple enamel. That coin has a very limited mintage of 25,000 – a markedly low number in relation to how many other commemorative coins are regularly produced and sold.
The new coins being issued by the Mint range in price from $35 to almost $700. All are sure to be eagerly sought not only by coin collectors but also from former soldiers or the families of those who received the honor. For more information and pricing, log onto www.USMint.gov.
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