Library

    • Posted on May 22, 2017
    • By TPM
    • Library

    By the early 1920s, the American film industry had concentrated in Hollywood. However, the industry found itself in serious trouble following a number of lurid scandals. Even in this era of silent films, there was also criticism of Hollywood for sexual explicitness. Facing the prospect of a public boycott and government intervention, the industry looked for ways to improve its image.
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    • Posted on May 15, 2017
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    Captain James Cook became the first European to reach the Hawaiian Islands on his third voyage in January 1778. After exploring the further reaches of the Pacific over the following year, he stopped in the Hawaiian Islands again and was killed in an altercation with natives. A century and a half later, Hawaii was a territory of the United States. A group of Hawaiian socialites set out to commemorate the 150th anniversary of Cook’s landing; one of their proposals was a commemorative half dollar. The proceeds were slated for the establishment of a memorabilia collection related to Cook’s voyage, which today resides in the Bishop Museum in Honolulu.
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  • Gold Demand Trends Q1 2017
    • Posted on May 12, 2017
    • By TPM
    • Library

    Global gold demand in Q1 2017 was 1,034.5t. The 18% year-on-year decline suffers from the comparison with Q1 2016, which was the strongest first quarter. Inflows into ETFs of 109.1t, although solid, were nonetheless a fraction of last year’s near-record inflows. Slower central bank demand also contributed to the weakness. Bar and coin investment, however, was healthy at 289.8t (+9% y-o-y), while demand firmed slightly in both the jewellery and technology sectors.

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    • Posted on May 8, 2017
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    • Library

    The proliferation of commemorative coins in the 1920s and 1930s had led to a number of abuses. First, many issues were produced at multiple mints over multiple years, leading to an excessive number of varieties for collectors to obtain a full set. For example, there are a total of fourteen varieties of the Oregon Trail Memorial half dollar. Low mintages of some of these varieties exacerbated the problem. Naturally, coin dealers delighted in the issuance of multiple varieties, which often proved extremely profitable for them.
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    • Posted on May 1, 2017
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    The National Sesquicentennial Exhibition Association was chartered by an Act of Congress in March 1925, tasked with organizing the world’s fair in Philadelphia to celebrate the 150th anniversary of American independence. Though the governing body of the fair was called the Exhibition Association in the authorizing legislation, the event came to be known to history as the Sesquicentennial Exposition, instead.
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    • Posted on April 24, 2017
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    The one cent coin was the first official coin struck by the United States Mint in 1793, but by the 1840s, it was an increasingly unpopular denomination. Because the copper cents contained no gold or silver and were not legal tender for trade, many merchants would not accept them or only accepted them at a discount. These “large cents,” produced until 1857, were indeed large and awkward – modeled after the British pennies, they were about the same size of a modern-day Susan B Anthony or Sacagawea dollar.
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    • Posted on April 17, 2017
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    • Library

    Due to increases in the cost of copper in the 1850s, the US Mint reduced the size of its one-cent coin. The Flying Eagle cent, officially introduced in 1857, was the first “small cent.” It replaced the original “large cent,” which was nearly the size of a contemporary half dollar. However, the design of the Flying Eagle cent did not strike well in the hard 88% copper, 12% nickel alloy. Mint Director James Ross Snowden ordered a new design, which became the Indian Head cent in 1859.
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    • Posted on April 10, 2017
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    The Coinage Act of 1792 established the United States Mint and provided for the construction of a facility in Philadelphia, the new nation’s first federal building. The same law also established a decimal-based currency system in the United States, with the dollar as its cornerstone and “money of account.” The Mint building was constructed in 1792 and began production the following year.
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    • Posted on April 3, 2017
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    The Draped Bust dollar was the second silver dollar produced by the United States Mint. The design replaced the Flowing Hair dollar, which was only produced for a short time in 1794 and 1795. The Draped Bust design was part of a wholesale redesign of US coinage; all United States coins from 1795 to approximately 1807 bear a variation of this design motif. Only later would it become more common for different denominations to bear unrelated designs.
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    • Posted on March 27, 2017
    • By TPM
    • Library

    During the depths of the Great Depression, the newly-ascendant administration of Franklin D. Roosevelt took the United States off the gold standard. This was accomplished with Executive Order 6102 in April 1933, which criminalized the possession of gold by US citizens. The Gold Reserve Act passed the following year, and ratified the provisions of the Executive Order and also devalued the dollar. US gold coinage was to be melted into bars and stored at the new Fort Knox in Kentucky. The intent of the Executive Order and the subsequent legislation was to remove constraints on the Federal Reserve in its efforts to resolve the ongoing banking crisis.
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