What Are Commemorative Coins?

Commemorative coins are small medallions created to celebrate, honor or remember an event such as the annual 1,000-mile Iditarod Race in Alaska or a gesture of recognition for the bravery of a soldier in combat. Some medallions have been used as currency. Some are presently to recipients in formal ceremonies in appreciation for their good deeds. Other medallions can be purchased at stores as collectibles in the vicinity of an event. Most are made with metal, gold or silver. Some have been made with wood. The Alaska Mint commemorative coins in the photo are (left to right) gold and silver 1999 Alaska State Medallion, a silver 1994 Alaska State Medallion, and a gold and silver 1998 Alaska Iditarod Race. Most countries, states, organizations and communities produce commemorative coins each year.

Significance

Medallions are specially designed and beautifully created items that have artistic, historic or sentimental value. They can be created for many reasons and serve a purpose, the details of which are often stamped on both sides of the medallions such as dates, place and event along with images. Some celebrate a period of time such as a centennial (100 years) or even a disaster such as the Great Alaskan Earthquake of March 27,1964 in Anchorage. Commemorative coins have been created to use in commercial exchanges.

Function

Commemorative coins can also be in the form of currency stamped with images of a reigning ruler, for example, in varying sizes and weights, representing their value or exchange rate at the time they were minted. These coins are also highly collectible. As time goes by, those in demand or are popular in design, will increase in value.

Features

Designed with promotional and marketing value in mind, commemorative coins usually have titles or names identifying their historic purpose and why they were created. They are made of metal, brass, gold, silver or other durable material and can be transported or easily carried by individuals. Some coins are "proofs," struck twice by the mint and are very collectible.

Size

Round, small, thin and easy to hold in the palm of your hand, commemorative coins are easily transportable and accumulate in considerable quantities. As little as 1/2-inch to the size of a U.S. silver dollar, their size is practical yet notable. With regard to currency, sometimes the greater the exchange rate, the larger the coin.

Potential

Every year there are new commemorative coins minted or produced by many companies around the world. Collectors and hobbyists can find them at events, coin shows, specialty shops or on the Internet. Clubs also offer an opportunity to network, meet other collectors, sell or trade. Always interesting to look at, many are kept in plastic, sealed from wear and tear and kept in "mint" condition.