Coins We Love: We've Got A NEW Mint Director!
Coinage of the United States has had a rich but brief history when compared to the rest of the world. However, it is by far the most advanced market in the world of coins. The influences that have dictated designs and run the actual physical change within the country have long been associated with the hobby that we so enjoy. However, the chief numismatist of our country, the U.S. Mint Director, has rarely been a seat occupied by an actual numismatist. This changed last week, and Wesley and I were honored to be a part of the ceremony in Washington, D.C.
I was supposed to be attending the Berlin World Money Fair last week, which is one of the highlights of my year as a professional, but when I received the invitation to attend the swearing-in of the new Mint Director during the same week, I accepted the weather cancellation that Delta was offering and planned a quick trip to DC. Thankfully, we’re just a 3-hour drive away, even with the snow north of Richmond, so the logistics weren’t difficult.
On Thursday, we made the trip up north, with a brief lunch stop in Old Town Alexandria to hang out with an old numismatic friend, where we were able to "nerd out" over some coin history. After that, we ventured to our hotel in the nation’s capital, made a brief pitstop in a nearby coin shop, and planned to grab dinner with our friend Seth Chandler, who was in town for the event as well. The roads were not for the faint of heart in the DC metro area, as most were still not cleared from the snow of the previous weekend, but we braved the snowbanks and had a nice dinner, talking about our businesses and where we see things going for the next year. After eating breakfast for dinner and a few hours of conversation, we made our way back to our hotels to prepare for the Friday afternoon event.
Friday morning, Wes and I walked down to the Museum of American History to see the National Numismatic Collection Display (for those of you used to weather below freezing, I salute you, because it was terribly cold!) and we enjoyed seeing the highlights on display. One of the most saddening parts for me on such a trip is the number of coins displayed at the Smithsonian. Don’t get me wrong, it’s amazing to see what’s publicly shown, but knowing what’s there and not on display—the most complete collection of US coins is below our feet—is breathtaking but greatly disappointing. But that didn't stop us from dreaming of holding one (or two) 1822 $5s! We did take a few videos of our favorite highlights there, which you can see on our YouTube channel here as well: View HERE
After the morning history lesson, we donned our best Sunday apparel (a rare opportunity for a coin dealer) and headed to lunch at the Old Ebbitt Grill (one of my favorite local restaurants across from the Treasury Building) before the event at 3 pm. After a burger, we made our way to the checkpoint, but as we got to the crosswalk, Paul Hollis, the man of the hour, saw Wes and I and came over and said hello. When the man of honor on his big day says hello on a street corner, it tells you a lot about the person. Anyhow, we made our way through the security checkpoints and into the Treasury Building pretty easily and met up with several of our friends who were in attendance. There were perhaps 20 folks from around the industry who I would consider to be the leaders of the entire coin business, and while there was definitely a sense of our not belonging there, it was pretty cool! The swearing-in was being done in the “Cash Room.” Now, this was a room that I doubt many numismatists have ever seen, but it was pretty darn cool. It was opened for use in 1869 and was generally used to supply commercial banks with coins and currency and to manage redemption of gold and silver certificates. Talk about a great room for numismatics! There was a vault in the room that you could see in the back, but we didn’t have access to it. But, to think of the coins and notes that had crossed that threshold was pretty amazing. Outside of the room was a gate made of gold with a beautiful design of a buffalo nickel (also in gold!) and the walls held currency sheets of specimens and proofs that I would have never guessed existed, with 150-year-old frames that were just as majestic. To see a Bison note with no serial number and a fractional currency sheet that was 5 times the size of the one in our office was really breathtaking. But that was just the décor!
Finally, at 3 pm, Mr. Hollis, the Treasurer of the United States, Brandon Beach, and the Speaker of the House, Mike Johnson appeared for the ceremony. After a few brief speeches, Mr. Hollis’s son brought up a family Bible, and the ceremony’s capstone event occurred. All in all, it was a brief ceremony, but a really neat experience. Most in attendance were family and friends from Louisiana and the roll of coin dealers. Refreshments in the hallway (monitored by Secret Service that were fully armed) were then served before an event was held down the street at the US Mint Headquarters.
Now, catching an Uber in DC during rush hour isn’t easy, but walking a mile in the 15-degree temperatures wasn’t on my list of things I needed to do either. So, a group of seven coin dealers hopped in a five-passenger vehicle and made the trip. There are photos of this trip that can never be released, but let’s just say that was an adventure. The US Mint HQ is another interesting place that is much larger than one would imagine. I know that there are eight floors, but I’m not sure how many are occupied. But the artwork, the decorations, and the overall ambiance were neat and rather modern. Another reception was held in the office section of the building and we got to see where the real work of the Mint Director occurs in his office. After a brief tour of the office from the now-Mint Director Hollis, we departed for a reception at a neighboring restaurant for the coin dealers in attendance. This was another fun opportunity, but was far more laid back, and we could talk about actual coins with the few collectors and the dealers in attendance. Overall, it was a really long day but an exciting, once-in-a-lifetime opportunity. While reviewing it in my mind a few days later, the numismatic décor, the ceremony, and the opportunity to enjoy what I now refer to as “Coin Nerd Prom” was a fantastic event. And while I know that Paul will do a wonderful job in his role, I can only hope that—for the sake of the hobby and the US Mint—that the government continues this trend of numismatists in this political position; it can only help the hobby!
Now, we hope you enjoy some of the highlights below!
Numismatically Yours,
John Brush
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