Commems Collection Modern: What If? 1990 Bicentennial Of The Death Of Benjamin Franklin

In 2006, the US Mint struck a pair of Silver Dollars (SDs) in commemoration of the 300th Anniversary of the birth of Benjamin Franklin. One paid tribute to Benjamin Franklin, the Founding Father, the other tp Benjamin Franklin, the Scientist.

As an admirer of Franklin, his accomplishments and his role in helping shape the early United States, I was a quick buyer of the two SDs (the Uncirculated versions) as well as the Benjamin Franklin Coin & Chronicles Set.







Franklin is likely most remembered for his political and diplomatic roles in the American Revolution and for his direct involvement in the drafting of the Declaration of Independence and the US Constitution, but Franklin was many things, including being a prolific author, a successful printer, a scientist, an inventor, the first Postmaster of the United States and organizer of the first fire company in Philadelphia. The 2006 commemorative coin program was well-deserved, IMO.

Franklin was born in Boston, Massachusetts on January 17, 1706; he died in Philadelphia, Pennsylvania on April 17, 1790.

The 2006 commemorative coins were not the first to be proposed - in the US = to honor of Franklin, however. In July 1989 (101st Congress), William H. Gray III, (D-PA) introduced a Franklin commemorative coin bill in the House of Representatives that called for Gold Half Eagles (up to 500,000), Silver Dollars (up to 10 million!) and Copper-Nickel (CuNI) Clad Half Dollars (up to 25 million!). Talk about a high-volume program! The massive program was to be "in commemoration of the bicentennial of the death of Benjamin Franklin."

I'm not a big fan of "death" commemorative coins, but I do understand that there are times when a milestone birth anniversary is a long way off and a death anniversary is close at hand and, therefore, makes more sense for a sponsor to choose such an anniversary as a subject for a commemorative coin or medal (vs. none or potentially waiting a decade or more).

The bill included a few atypical provisions regarding the striking of the coins:

1) The Gold Half Eagles were only to be stuck as a Proof coin by one Mint facility.

2) The SDs and CuNi Clad Half Dollars were to be struck in Proof and Uncirculated versions, with "not more than one facility of the United States Mint may be used to strike any particular combination of denomination and quality." (i.e. / e.g., no "P" and "D" Uncirculated SDs)

3) The coins could be produced between October 1, 1989 and December 31, 1990 - a 15-month production period. A January 1 to December 31 is more the standard striking period.

Each of the coins was to have dedicated designs vs. a common design used on all three:

1) The Gold Half Eagles were to feature designs "emblematic of the bicentennial of the death of Benjamin Franklin."

2) The Silver Dollar were to have designs "emblematic of the Benjamin Franklin National Memorial as an inspiration to Americans."

3) The Clad Half Dollars were to feature designs "emblematic of the contributions of Benjamin Franklin to the United States."

The issue price of each coin was to include a surcharge:

1) Gold Half Eagle: $35 per coin
2) Silver Dollar: $7 per coin
3) Half Dollar: $2 per coin

Collected surcharges were to be paid to the Secretary of the Benjamin Franklin National Memorial (The Franklin Institute in Philadelphia, Pennsylvania) to be used:

"(1) to restore and renovate the Benjamin Franklin National Memorial;

"(2) to construct or renovate adjoining areas of the Franklin Institute relating to the various interests of Benjamin Franklin, such as science, education, and government;

"(3) for exhibits in the Memorial or in the adjoining areas of the Franklin Institute relating to Franklin or to science and education;

(4) for capital funds for construction of access, parking, and related facilities;

"(5) for funds for the acquisition and preservation of artifacts relating to Franklin; and

"(6) to establish an endowment in an amount determined sufficient by the Memorial, in consultation with the Secretary of the Interior, to ensure the continued upkeep and maintenance of the Memorial."

In the highly unlikely event that the coins sold out (or even came close!), the Franklin National Memorial would have had quite a financial windfall! Surcharges from the SDs alone would have totaled $70 million!

The bill had reasonable support in the House - 181 Co-Sponsors - but was not reported out of Committee. (Upon its introduction, the bill was referred to the House Committee on Banking, Finance and Urban Affairs, with a further referral to its Subcommittee on Consumer Affairs and Coinage.) IMO, the sheer potential volume of the program's authorized coins worked against it when it was under Committee review.

Later in the 101st Congress, William H. Gray III's bill was supplanted by one that also sought to recognize a fireservice bill of rights. The new bill was the first step on the path that led to the 1993 Benjamin Franklin Fireservice Medal. I'll discuss that journey in a future post.


For more of my topics on commemorative coins and medals, including other stories about Franklin pieces, see: Commems Collection.