Amongst the problems often cited for the American Arts Medallions Series (Buy on eBay) is the unwieldy and inconsistent method of distribution and sale to the public. During the course of the series, the method of distribution was altered three times and it was typically a very involved process for collectors or precious metals investors to actually purchase the medallions.

For the first two years of the program, potential customers were instructed to call a toll free phone number in order to obtain the price of each medal. The prices were based on the previous day’s London closing price for gold, which in some instances allowed customers to purchase the medals for less than the current price of gold.

With the prices confirmed, the customer would then go to their local post office to obtain an official order form and envelope. The orders would be validated by a postal clerk and payment made by postal money order, certified check, or cashier’s check. After submitting the order, it would take up to two months for the orders to be fulfilled.

From 1982 to 1983, the distribution and marketing of the American Arts Gold Medallions was turned over to J. Aron & Company. Under an exclusive contract, the firm would purchase the medals directly from the United States Mint and then resell the pieces to a network of dealers, who would make them available to the general public. In addition to the improved distribution process, the firm would also maintain a two way market for the medals.

Due to minimum purchase requirements of J. Aron & Company’s contract, the number of medallions sold by the United States Mint rose during the next two years. However, despite a multi-million dollar advertising campaign, sales to the public remained at minimal levels. It has been estimated that J. Aron & Company was only able to sell 15% of the medals they purchased to the public. The remaining unsold medals are rumored to have been ultimately melted. The firm was let out of their contract early, leading to the final iteration of the sales process.

For the final year of the series, the distribution of the medallions was handled by the United States Mint through a telephone marketing program. Medallions for all years of the program were offered for sale through a campaign targeted at previous customers. The medals were sold individually at a premium of $12 over spot for the one-half ounce pieces and $16 over spot for the one ounce pieces. Mintage and sales figures for the final year releases plummeted to the lowest levels of the series.

In the following year, the United States Mint would offer the medallions in sets through a telephone ordering system. The ordering options included a complete five-coin set of the one ounce medals and a complete five-coin set of the one-half ounce medals. When sales concluded, the Mint had sold 3,088 of the one ounce sets and 2,951 of the one-half ounce sets. After this final sales effort, the remaining unsold medallions were melted.

The American Arts Commemorative Series Gold Medallions (Buy on eBay) were produced across five years, with two different designs issued per year. All medallions were struck at the West Point Bullion Depository (before it gained full mint status) and do not carry a mint mark.

The mintages range from a low of 35,000 pieces for the 1985 issues featuring Helen Hayes and John Steinbeck to a high of 1,000,000 pieces for the 1980 issue featuring Marian Anderson.

Perhaps more important than the mintage figures are the sales figures, which reflect the number of medals that were purchased from the United States Mint. These figures range from a low of 32,572 for the 1984 John Steinbeck Medallion to a high of 390,669 for the 1983 Robert Frost Medallion.

It should be noted that during the years from 1982 to 1983, the medallions were exclusively distributed by J. Aron & Company, which was subject to certain minimum purchase requirements. For both years, the firm met these purchase requirements, but was only able to sell approximately 15% of the  medallions to the public. Although it has never been confirmed, it is rumored that the unsold medallions were melted, greatly diminishing the surviving population.

In terms of surviving populations, it is generally believed that the 1983 Alexander Calder Medal is the scarcest with perhaps 7,000 pieces surviving. The next scarcest issues are believed to be the 1984 issues featuring Helen Hayes and John Steinbeck.

Year	Design	Mintage	Sales
1980	Grant Wood	500,000	312,709
1980	Marian Anderson	1,000,000	281,624
1981	Mark Twain	141,000	116,371
1981	Willa Cather	200,000	97,331
1982	Louis Armstrong	420,000	409,098
1982	Frank Lloyd Wright	360,000	348,305
1983	Robert Frost	500,000	390,669
1983	Alexander Calder	410,000	75,571
1984	Helen Hayes	35,000	33,546
1984	John Steinbeck	35,000	32,572

For the fifth and final year of the American Arts Commemorative Series, a one-half ounce gold medallion was issued to honor author John Steinbeck (Buy on eBay). He was the author of such well known works as Of Mice and Men, The Grapes of Wrath, and East of Eden, each of which have been widely read and adapted to film. He was the winner of the 1962 Nobel Prize in Literature.

The obverse design of the medallion features a front facing portrait of the author dressed in a suit and carrying an intense gaze. The inscriptions read “United States of America”, “John Steinbeck”, and “1984”. The reverse carries the image of a farm scene reminiscent of the setting of many of Steinbeck’s works. The inscriptions read “American Arts Commemorative Series” and “One Half Ounce Gold”.

The method of distributing the American Arts Medallions was changed for the final year of the series, which would have an impact on the mintage and sales levels. Previously, the firm J. Aron & Company was the exclusive distributor of the medals, subject to certain minimum purchase guarantees. This year, the firm was let out of their contract and the medallions were sold by the United States Mint through a telephone ordering system. The new medals were offered to customers who had purchased medals in previous years. Later, complete five piece sets of either the one ounce or one-half ounce medallions would be offered.

The John Steinbeck American Arts Gold Medallion had a total mintage of 35,000 pieces, together with the Helen Hayes Medal marking the low for the series. Total sales for the Steinbeck Medal reached 32,572, representing the low for the series. Due to the change in distribution method, melting had a far more limited impact on the survival rate of this issue compared to the previous years. Nonetheless, the two 1984 medals are seen as the second scarcest issues of the series after the 1983 Alexander Calder medal.

1984 John Steinbeck Gold Medallion Specifications:

Designer: John Mercanti and Philip E. Fowler
Mint: West Point Bullion Depository (no mint mark)
Mintage: 35,000
Sales: 32,572
Composition: 90% gold, 7% copper, 3% silver
Weight: 15.55 grams
Diameter: 27 mm
Thickness: 2 mm
Edge: Reeded

Image: Heritage Auctions

The fifth and final year of the American Arts Commemorative Series included a one ounce gold medallion featuring actress Helen Hayes (Buy on eBay). Her career spanned nearly 80 years and included film, stage, and television roles. She won an Emmy, a Grammy, an Oscar, and a Tony Award, as well as received the Presidential Medal of Freedom and National Medal of the Arts.

On the obverse of the medallion is a right facing profile portrait of the actress. She appears in her later years and carries a pleasant expression. Her hair is worn up and she is adorned with pearls and earrings. On the reverse are the two masks of comedy and tragedy with a ribbon framing the words “First Lady of the Stage”. The obverse contains the inscriptions “United States of America”, “Helen Hayes”, and “1984”. The reverse contains the additional inscriptions “American Arts Commemorative Series” and “One Ounce Gold”.

The method of distribution of the medallions was altered once again for the final year of the series. The previous distributor J. Aron & Company was let out of its contract and instead the United States Mint would sell the medallions directly to the public through a telephone ordering system. Initially, remaining inventories of all medals were offered individually, but later sets of either the one ounce or one-half ounce medals were offered.

The Helen Hayes American Arts Gold Medallion had a mintage of 35,000, representing the low for the series. From this amount, sales reached 33,546 pieces. The impact of melting was not as pronounced for this year, since the medals were sold directly to collectors and purchasers of the previous medals. After the Alexander Calder Medal, both of the 1984 medals are seen as the next scarcest of the series.

1984 Helen Hayes Gold Medallion Specifications:

Designer: John Mercanti
Mint: West Point Bullion Depository (no mint mark)
Mintage: 35,000
Sales: 33,546
Composition: 90% gold, 7% copper, 3% silver
Weight: 34.60 grams
Diameter: 32 mm
Thickness: 2.95 mm
Edge: Reeded

Image: Heritage Auctions

The one-half ounce gold medallion released for the fourth year of the American Arts Commemorative Series features sculptor Alexander Calder (Buy on eBay). His artistic works include sculptures, theatrical productions, monumental works, painting, and jewelry. He was the creator of the mobile, a moving sculpture made with delicately balanced or suspended shapes.

The obverse design of the medallion features a left facing three quarters profile portrait of the sculptor with a broad smile and affable expression. On the reverse is the image of one of his kinetic sculpture creations with a representation of his signature. The inscriptions on the obverse read “United States of America” and “Alexander Calder” with the date “1983”. The reverse inscriptions are “American Arts Commemorative Series” and “One Half Ounce Gold”.

The reported mintage of the Alexander Calder American Arts Gold Medallion was 410,000 pieces. From this amount 75,571 were reported sold to the exclusive distributor of the medallions, J. Aron & Company. As with other issues of the series from this period, the actual sales to the public were far less due to lack of demand. Since the unsold pieces are believed to have been melted, the actual distribution and surviving population is extremely limited.

Due to the limited distribution and impact of melting, it is believed that the Alexander Calder Gold Medal is the key issue of the series. The actual supply of pieces on the market has been estimated to be as low as 8,000 pieces, resulting in premiums well above the precious metal value.

1983 Alexander Calder Gold Medallion Specifications:

Designer: Michael Iacocca
Mint: West Point Bullion Depository (no mint mark)
Mintage: 410,000
Sales: 75,571
Composition: 90% gold, 7% copper, 3% silver
Weight: 15.55 grams
Diameter: 27 mm
Thickness: 2 mm
Edge: Reeded

Image: Heritage Auctions

The American Arts Commemorative Series entered its fourth year with a one ounce gold medallion featuring poet Robert Frost (Buy on eBay). He is well known for his works containing realistic depictions of rural life and American colloquial speech. During his lifetime, he received four Pulitzer Prizes for Poetry and a Congressional Gold Medal.

The obverse design of the medal features a right facing three-quarters profile portrait of Frost. The image is based on a photograph taken on the poet’s 85th birthday, which conveys his wisdom and reflection. The reverse design features three lines from his most famous poem “The Road Not Taken”. These lines read “Two roads diverged in a wood, and I – / I took the one less traveled by, / and that has made all the difference.”

The obverse contains the inscriptions “United States of America”, “Robert Frost”, and the date “1983”. The reverse contains the additional inscriptions “American Arts Commemorative Series” and “One Ounce Gold”.

The reported mintage for the Robert Frost American Arts Gold Medallion was 500,000 pieces, matching the series high for a one ounce medallion. From this amount 390,669 pieces were reported as sold, however, this figure does not reflect the true public demand. Rather this amount reflects the sales to the distributor for the program J. Aron & Company, who ultimately is estimated to have sold about 15% of their purchases to the public with the balance ultimately melted. Thus, the surviving population of the medals is considerably lower than the publicly reported mintage and sales figures suggest.

1983 Robert Frost Gold Medallion Specifications:

Designer: Philip E. Fowler
Mint: West Point Bullion Depository (no mint mark)
Mintage: 500,000
Sales: 390,669
Composition: 90% gold, 7% copper, 3% silver
Weight: 34.60 grams
Diameter: 32 mm
Thickness: 2.95 mm
Edge: Reeded

Image: Heritage Auctions

Architect and designer Frank Lloyd Wright was honored on the one-half ounce gold medallion released for the third year of the American Arts Commemorative Series (Buy on eBay). Wright believed in designing structures in harmony with humanity and the environment, which he referred to as organic architecture. During his career, he designed more than 1,000 structures and was recognized by the American Institute of Architects as the greatest American architect of all time.

The obverse design of the medallion carries a profile portrait of the architect with an intense expression on his face. The reverse design carries an image of one of his most famous structures, Fallingwater in Mill Run, Pennsylvania. Following the architect’s desire to place the inhabitants in a natural setting, the building was constructed over a 30-foot waterfall.

The inscriptions on the obverse include “United States of America”, “Frank Lloyd Wright”, and “1982”. The reverse includes “American Arts Commemorative Series” and “One Ounce Gold”. Following changes mandated by the Treasury Department, beginning this year the inscriptions included the name of the issuing authority and the precious metal weight, which had not appeared on earlier issues. The pieces also saw the addition of denticles and a reeded edge.

The mintage of the Frank Lloyd Wright American Arts Gold Medallions was 360,000 pieces, with total sales reaching 348,305. The relatively higher sales for the year were not a result of increased demand, but rather a change in the distribution procedures. A private firm J. Aron & Company had committed to minimum purchase guarantees in order to secure the rights for distribution. Ultimately, they were only able to sell about 15% of the medallions to the public, with the balance rumored to have been melted.

1982 Frank Lloyd Wright Gold Medallion Specifications:

Designer: Edgar Z. Steever
Mint: West Point Bullion Depository (no mint mark)
Mintage: 360,000
Sales: 348,305
Composition: 90% gold, 7% copper, 3% silver
Weight: 15.55 grams
Diameter: 27 mm
Thickness: 2 mm
Edge: Reeded

Image: Heritage Auctions

Amidst several notable design changes, the American Arts Commemorative Series entered its third year of issue with a one ounce coin honoring musician Louis Armstrong (Buy on eBay), who played the trumpet and cornet, as well as composed and sang. He is recognized as one of the most influential figures in jazz, with his influence extending into popular music later in his career.

The obverse design of the medal features a right facing three-quarters portrait of the musician. He appears during his youth with a broad smile and jovial expression. The reverse features the image of a trumpet along with musical notes and the words “Ambassador of Jazz”.

The inscriptions include several elements that were specifically mandated by the Treasury Department in an attempt to improve sales of the program. On the obverse are the inscriptions “United States of America”, “Louis Armstrong”, and the date “1982”. Previously the country name did not appear on the medallions. The reverse includes “American Arts Commemorative Series” and “One Ounce Gold”. The precious metal content previously did not appear on the medallions.

In another change intended to make the medallions seem more like coins, denticles were added around the edge of the obverse and reverse designs. The edge of the medallion was also reeded rather than plain.

The mintage for the Louis Armstrong American Arts Gold Medallion came in higher than the previous year at 420,000 with sales reaching 409,098 pieces.

While it may have seemed like the changes had resulted in greater demand for the medals, the increased sales were the result of a change in the method of distribution. A contract had been awarded to J. Aron & Company to exclusively market the pieces, which was subject to minimum purchase guarantees. The firm honored their guarantees by purchasing the medals, but could only sell an estimated 15% of them. It has been rumored that the unsold medals were later melted. The low availability of the Louis Armstrong Medals on the current market seems to support the rumors.

1982 Louis Armstrong Gold Medallion Specifications:

Designer: John Mercanti
Mint: West Point Bullion Depository (no mint mark)
Mintage: 420,000
Sales: 409,098
Composition: 90% gold, 7% copper, 3% silver
Weight: 34.60 grams
Diameter: 32 mm
Thickness: 2.95 mm
Edge: Reeded

Image: Heritage Auctions

The subject of the one-half ounce gold medallion for the second year of the American Arts Commemorative Series was author Willa Cather (Buy on eBay). She is well known for her novels depicting frontier life on the Great Plains such as O Pioneers! and My Ántonia. She was awarded the Pulitzer Prize for her novel One of Ours.

On the obverse of the medal is a right facing three-quarters portrait of the author with a serious expression and dressed in a lightly patterned blouse. Her hair is pulled back and bound behind her head. The reverse carries a depiction of a woman with a plow in an agricultural field. The crop fields and clouds can be seen into the distance. The obverse inscription reads “Willa Cather” while the reverse reads “American Arts Commemorative Series” and “1981”.

A slight change in composition is seen for the series starting this year, with the composition now including a minor amount of silver intended to improve the overall appearance of the medals. The previous styrofoam packaging was also replaced by a more formal gift box, which also included an insert containing information about the life of the author.

After the high production of the initial year was met with muted demand, the Willa Cather Gold Medallion had a considerably smaller mintage of 200,000 pieces. From this amount 97,331 pieces were sold across individual sales and later efforts through telemarketing sales of complete sets of medals. This issue remains one of the more readily available issues of the series and can typically be acquired near its precious metal value.

1981 Willa Cather Gold Medallion Specifications:

Designer: Sherl Joseph Winter
Mint: West Point Bullion Depository (no mint mark)
Mintage: 200,000
Sales: 97,331
Composition: 90% gold, 7% copper, 3% silver
Weight: 15.55 grams
Diameter: 27 mm
Thickness: 2 mm
Edge: Plain

Image: Heritage Auctions

The second year of the American Arts Commemorative Series featured a one ounce gold medallion honoring American author and humorist Mark Twain (Buy on eBay). Born Samuel Langhorne Clemens, he was the author of such celebrated novels as The Adventures of Tom Sawyer and The Adventures of Huckleberry Finn.

The obverse design of the medallion features a front-facing portrait of Mark Twain with his bushy white hair and mustache, dressed in his characteristic white suit. The reverse design features the image of a steamboat on the Mississippi River, recalling Twain’s personal experience as a riverboat pilot, which he would draw from to write some of his stories. A small raft can be seen in the foreground, perhaps representing Huckleberry Finn and his companion Jim. The obverse carries the inscription “Mark Twain”, while the reverse is inscribed “American Arts Commemorative Series” with the date “1981”.

The medallions were once again struck at the West Point Bullion Depository, but this year with a slightly altered composition of 90% gold, 7% copper, and 3% silver. The inclusion of silver was intended to improve the appearance of the metals. In addition to the composition change, this year the medals were packaged in gift boxes and included an insert with biographical information about the subject of the medal.

After the initial interest in the series faded, production levels were phased back and the mintage for the Mark Twain American Arts Gold Medallion would reach only 141,000 pieces, of which 116,371 pieces were sold. This issue remains one of the more available of the series and can typically be acquired for only a slight premium to the precious metal value.

1981 Mark Twain Gold Medallion Specifications:

Designer: Matthew Peloso
Mint: West Point Bullion Depository (no mint mark)
Mintage: 141,000
Sales: 116,371
Composition: 90% gold, 7% copper, 3% silver
Weight: 34.60 grams
Diameter: 32 mm
Thickness: 2.95 mm
Edge: Plain

Image: Heritage Auctions