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Here is a little history and personal opinion on commemoratives, I hope it is gives a little insight. I personally do not collect commemoratives myself, mainly because they are hard to sell unless you are in a specific crowd, but I do enjoy their beauty tremendously, and it is hard to find more beautiful coins anywhere in the world sometimes. My philosophy in commemorative is that they should be for your personal collection and enjoyment, and not so much as an investment as denomination coins. Alot of commemorative just sit on shelves for years and are eventually bulk sold or sold at spot price for the silver, so be aware of that aspect when considering. Again I hope my opinions here help you enhances your a little better..

Of all the coins ever struck by the United States, commemoratives are some of the best loved by collectors, I specifically say COLLECTORS, not dealers.... dealers like the mark-up prices, and want them in and out of the door before the rush to get them cools down. A collection of commemorative coins is a gallery of America’s greatest artists and sculptors. It’s a treasure trove of America’s great events and people. And it’s a collector’s Eden, filled with rare, unusual and fascinating coins. Because the U.S. continues to release new commemoratives every year, new commemorative collectors are born each year. Millions of Americans became collectors for the first time when they acquired the U.S. Bicentennial coins in 1976 and millions more will become collectors as the new nickel 5-cent pieces circulate in 2004 and 2005. New collectors renew interest and ignite demand for past issues. The demand is reflected in the hefty prices paid for older commemoratives.

The idea of using coins to honor important people, places and events dates back almost to the beginning of coinage itself. The ancient Greeks and Romans used commemorative coins to celebrate their achievements and to pay homage to their gods and rulers. The tradition of United States commemorative coinage began in 1892 when a silver half-dollar was struck by the U.S. Mint to honor Christopher Columbus and the 400th anniversary of his discovery of the New World. Since the issue of that first historic silver half-dollar, U.S. commemorative coins have become the most popular coins among collectors in the United States. Much of this popularity is due to the rebirth of U.S. commemorative coins in 1982 after a 30-year hiatus and again in 1999 when the U.S. Mint released its ambitious 50 State Quarters® Program. Both of these events have attracted new collectors to the field and stimulated interest in older commemorative coins.
 
 
 
 
U.S. commemorative coins may be issued only under special legislation passed by Congress. Since 1982, Congress has honored a wide range of people, places and events from American history. Many were inspired by important anniversaries, such as the 150th anniversary of American independence or the centennial of the Statue of Liberty. Others honored contemporary events, such as the opening of the Panama Canal or the Olympic Games. Still others honor important individuals, including George Washington, Ulysses S. Grant, Booker T. Washington and Daniel Boone. Each of their commemorative coins were created by skilled artists and engravers, whose designs are preserved in the beauty of precious silver, gold and even platinum. Because of their unique importance, U.S. commemoratives always been sold at a premium over their face value, and they have not always been intended for circulation. Because of popular public response, however, a few U.S. commemorative coins such as the 1932 Washington Quarter and the 1976 Bicentennial coins became regular circulating coins.
 
 
 
During their heyday, from 1892-1954, U.S. commemoratives were available only as uncirculated coins. Proofs were rarely made and they were given to only a few government officials or dignitaries. The commemoratives were sold through a private distributor, such as a special committee or individual, who received the coins in bags directly from the U.S. Mint. The packaging of individual coins varied with each issue, ranging from cardboard folders, paper envelopes and boxes. Most collectors didn’t consider this original packaging to be important, so they discarded it and placed the coins in their own albums or boxes. The differences in coin storage also resulted in differences in toning (coloration) of the commemoratives. This natural coloration comes in a variety of hues ranging from red, yellow, blue, gray and even black. The presence of toning often proves that a coin remains in its original condition and has not been cleaned or otherwise tampered with. For example, coins stored in albums for many years will have most of their toning around the edges, where they came into contact with the album. Since the 1980s, U.S. commemoratives have been sold and packaged directly by the federal government.
 
 
 
 
Commemorative coins also offer collectors a variety of options on how to assemble their collections. Many collectors prefer only certain topics, such as famous people, places, bears, trees or ships. For instance, the Bay Bridge, California Jubilee and San Diego half-dollars all depict the California grizzly bear while the Columbian Exposition, Delaware and Pilgrim halves are a few of special commemoratives featuring sailing ships. Collecting by “type” is also popular. This means that within a coin issue or series, such as the Oregon Trial or Texas commemoratives, only one of each design need be acquired. Other collectors are not satisfied unless they own every date and mintmark of an issue. This means that they would have to own all 13 Texas Centennial coins that were struck from 1934-1938 at the three U.S. Mints in Philadelphia, Denver and San Francisco. With their diverse and significant themes, U.S. commemoratives have something to offer for every collector.

The revival of U.S. commemorative coins since the 1980s has greatly increased their popularity among collectors, especially for the early issues. Like most older coinage issues, the search for higher quality coins has led to private grading services such as the Professional Coin Grading Service (PCGS) or the Numismatic Guaranty Corporation of America (NGC). These firms independently certify the grade of a coin using a numerical system and then encapsulate or “slab” it in a protective hard plastic holder. Many U.S. commemoratives are rare and expensive in top quality condition, but it is possible to assemble an attractive and interesting collection in a variety of grades.
 
Sometimes I ask myself this, most commemorative are VERY limited in mintage compared to any other mint issed currencies, and since the 2001 Buffalo commemorative BLEW up, many collectors and dealers have jumped on the train. These days, if you dont hit the mint within 4 or 5 days of the coin being released, all you are going to get is a big red line say NOT AVAILABLE, and here is why.

Coin collecting has become VERY expensive over the last 25 years in comparison to the early 80's, and many whitmans and dansco sit pertially full now in the hands of the small collectors because even the worn key dates are out of their price range. Commemoratives give the smaller collector of sense of having a beautiful proof coin, full of a story to tell, and also a LARGE silver coin to hold, all for usually no more than 35 dollars. To a new collector, they would rather have the nice shiny proof ounce of silver for 35.00 than pay 150 dollars for an AG 1932 d Washington Quarter.....which was about 20 bucks in 1981 :)

Commemorative sat dormant for alot of years, but now that the mint has puched such beautiful coin, and the key part LIMITING their issue amounts, it has drawn in dealers for the profit, and collectors for the beauty and affordability! Roll on Commemoratives, history does always repeat itself :)

Till Then.........