A century ago, right now, a negative hue and cry went up from the American public regarding something that was initially under-the-radar. It was supposed to be huge. Instead, it was a flop.
The year was 1926 – the Sesquicentennial of the United States was taking place, the 150th anniversary of the US. Big plans were made including a scheduled giant World’s Fair celebration in Philadelphia. Thirty million were expected to attend. The event was said to have been “plagued by construction delays and financial issues.” In the end, less than 5 million people showed up. The venture was a notable financial failure. (Sounding familiar?)
A significant aspect of that memorial year was the pending issuance of a silver half-dollar commemorative coin. At that time, silver dollars along with five-, ten- and twenty-dollar gold pieces circulated in substantial quantities. Rarities as they may be now, back then, they were the norm....
The new 1926 50-cent coin was produced in time for that year’s World’s Fair in Philadelphia. As a commemorative, the selling price was one-dollar. It should have been a great collectible.
The myriad possible images on the 50-cent piece were endless. The design selected for use was prompted by then-President Calvin Coolidge. On one side it featured the Liberty Bell and the dates “1776” and “1926.” On the front was a profile portrait of founding father and winner of the Revolution, George Washington. All that made good historic sense. Then, an ill-informed second profile portrait was added just behind that of Washington. It was that of president of Calvin Coolidge. To call it a disaster is being nice.
When the public saw the coin they were collectively repulsed. Then, like now, an 1866 US law clearly prohibited depicting the likeness of a living person on a coin, particularly a president. The feeling was only monarchs from countries with kings and queens brashly showcased royalty on coins and stamps. That sentiment was first underscored in the US when, after winning the Revolution, people suggested George Washington be crowned “King” of the US. Washington was disgusted by the proposal saying it would be “the greatest mischief that can befall my country. I won’t hear of it.” So, no “kings” on US coins.
Nevertheless, in 1926, for the first time, a coin issued in the US depicted an identifiable living person in the form of President Calvin Coolidge. For Coolidge, that proved to be a disaster.
Public reaction was swift. Aversion and apathy toward the coin was clear. One million of the pieces had been struck for sale. After a year, a whopping 859,000 went unsold. As commemorative souvenirs at the Philadelphia World’s Fair, the public showed their disdain with non-purchases. In the end, bags and bags of the unsold half-dollars were shipped back to the Mint and melted. The promise for the future was, “never again.” Had we learned from the past?
Fast-forward a century to now, 2026. Our once-anticipated Semiquincentennial is pretty much over. Like the 1926 World’s Fair in Philadelphia, the “Great American State Fair” on the National Mall in Washington DC was a bust. Ten states pulled out due to partisan objections. Prominent musical acts canceled over political viewpoints. Attendance was meager. And, no anniversary coins were for sale. Until now.
In a few days, the US Mint will officially release a golden-colored, one-dollar coin supposedly for this year’s anniversary. On it will be no George Washington, no US Capitol, no flag, or no Revolutionary Minute Men. Conversely, and contrary to the 1866 law, the obverse of this coin is emblazoned with a large frontal portrait of President Donald Trump.
Surrounding his image are the word, “LIBERTY” and the dates “1776 – 2026.” Prominently placed next to President Trump’s portrait is, “IN GOD WE TRUST.”
The reverse features a spread bald eagle taken from the Presidential seal. In its chest is a shield with the number “250” inside. Around the eagle are the words, “UNITED STATES OF AMERICA” and the denomination “ONE DOLLAR.”
The coins were approved and endorsed by Secretary of the Treasury Scott Bessent; US Treasurer Brandon Beach; and US Mint Director Paul Hollis. Perhaps it’s no coincidence that all three were recently appointed by President Trump.
The dollar coin is being sold in rolls of 25 and 100-coin bags exclusively by the US Mint. Each will cost between $1.54 and $2.44 depending on the amount purchased. There is no minting limit but, because of the cost, the coins will naturally not see circulation.
I suppose there is some irony in that this coin, which isn’t cheap to produce and will go entirely unused, debuts on the heels of our storied and historic penny being discontinued to save money. Isn’t that is the very definition of “penny wise and pound foolish?” Feel free to log onto www.USMint.gov to decide for yourself.
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