Columbian Exposition Half Dollar - Release

Release

The Chicago Tribune described the scene as the first Columbian half dollars were struck at the Philadelphia Mint on November 19, 1892:

James W. Ellsworth of the World's Fair Commission represented ... Over 2,000 of the souvenirs were struck today, and the work will continue until all of the 5,000,000 donated by Congress are completed ... Unfortunately, the first attempt was a failure—a little flaw caused the coin's rejection ... Again the coin was lifted from the face of the steel die and critically examined by Coiner Steele, Engraver Barber, and Supt Bosbyshell. Every line was sharply defined, and the strong features of the discoverer of America, which adorn the coin, seemed to look approvingly on the work.

Numismatists Anthony Swiatek and Walter Breen, in their encyclopedia of early commemoratives, suggested that the "flawed" first specimen was not destroyed, but was given to Ellsworth, a noted coin collector who possessed rarities such as the Brasher doubloon and two specimens of the 1804 dollar. They deemed it unlikely that experienced Mint workers would have selected a flawed planchet to use in the first strike, and that Ellsworth obtained the piece with Bosbyshell's agreement.

On December 15, the Mint shipped five kegs of the new coins, each holding 10,000 pieces, to Chicago. Each keg held five bags with a thousand coins each, though in one keg, one bag was intentionally short four coins, as also in that keg was a cigar box containing four envelopes, with coins number 1, 400, 1492, and 1892 from the first day of production. The kegs were taken to the Chicago Sub-Treasury, and on December 19 at 1:00 pm conveyed to Room 404 of the Rand McNally Building, the exposition's headquarters. There, Harlow N. Higinbotham, president of the Exposition Company, took mallet and chisel in hand and opened the keg, removing the cigar box. Placing three of the envelopes in his pocket, he displayed the first coin to the assembled crowd, then exchanged it for a check—Wyckoff, Seamans & Benedict (later the Remington Typewriter Company and makers of the official typewriter of the fair), was purchasing the first coin struck for $10,000 as a publicity stunt. That coin was donated to the newly established Columbian Museum (today the Field Museum). The Company immediately put the pieces on sale for $1 each, and the first shipment was soon all sold to those who lined up to buy them, had ordered them by mail, or had purchased them at local banks that were given allocations. No official packaging was provided; the pieces exist in holders supplied by various banks.

Much of the press coverage at the time focused on the fact that half dollars would be sold for twice face value. The Colorado Sun commented, "The World's Fair people count upon making a good thing by selling their five million souvenir half dollars at premium. The Chicago propensity for speculating in futures cannot be restrained." The Philadelphia Call concurred, "Perhaps the proposition to sell the 50¢ souvenirs at the World's Fair for $1 is an evidence of what visitors to Chicago may expect in the general increase in prices." The design was also a source of comment. The Philadelphia Ledger suggested, "If it were not known in advance whose vignette adorns the Columbian souvenir half dollar, the average observer would be undecided as to whether it is intended to represent Daniel Webster or Henry Ward Beecher." The Boston Globe noted, "The first view of the new Columbian souvenir coin inevitably leads to expression of regret that Columbus wasn't a better looking man." The Galveston Daily News opined of the new half dollars:

The front side of the coin has an elegant likeness of the late Sitting Bull. This, however, is said to be meant for Columbus ... There is also a likeness of Columbus' ship under full sail. At first blush the ship seems to be on wheels, but closer examination shows that the two wheels are the eastern and western hemispheres. The ship seems to be surrounded by a herd of porpoises, but probably this is meant for waves. There is also a fishing pole rigged out of an after port in the cabin of the ship, and one gathers an idea that the venturesome mariner is either baiting his hook and lying about a bite he has just had, or has hauled in a fish, for the line is taken aboard ship. The figures 1492 appear beneath the vessel. The coin is of the same size and weight as the old run of half dollars, and for all they are sold at a heavy premium, the purchasing power is but ten beers.