The United States Mint has revealed the obverse design selection for the 2014 National Baseball Hall of Fame Commemorative Coins. The unveiling had initially been scheduled to take place on October 8, but was postponed due to the government shutdown. Although the shutdown continues, the design selection was posted without a ceremony or press release on the US Mint’s website.
The obverse design shown above was selected by the Treasury Department following a public competition which had generated 178 design submissions and 26 semi-finalist designs. These semi-finalists were evaluated by a panel of Baseball Hall of Fame judges, which had narrowed the field to 16 finalist designs. The finalists were reviewed by the Commission of Fine Arts, Citizens Coinage Advisory Committee, and National Baseball Hall of Fame.
The CFA and CCAC had both recommended the design shown above featuring a depiction of a 1960’s style baseball glove. With both groups in agreement, it became likely that the Treasury Department would follow suit. The final design shown above does have some slight alteration from the original design submission. A foliage pattern which appeared at the edge of the glove has been removed.
The winning design was submitted by Cassie McFarland of San Luis Obispo, California, who will have her initials appear on the coin and receive a prize of $5,000.00.
The reverse design of the coin, which was previously announced features a depiction of a baseball similar to those used in Major League Baseball. This was designed and sculpted by Don Everhart.
The obverse and reverse designs will be used in common across the $5 gold coin, silver dollar, and clad half dollars included in the commemorative coin program. All of the coins will be “curved” so that the obverse is concave and the reverse is convex. These will be the first curved coins ever produced by the United States Mint.
Under the authorizing legislation, maximum mintages are established at 50,000 $5 gold coins, 400,000 silver dollars, and 750,000 half dollars. The National Baseball Hall of Fame will receive surcharges of $35 per gold coin, $10 per silver dollar, and $5 per half dollar, which will be used to help fund operations. The coins will go on sale in early 2014.
Lower Gold Numismatic Product Prices Possible
Based on the available data, it is possible that the prices for the United States Mint’s numismatic gold products may be reduced tomorrow. Prices for these products are adjusted as frequently as weekly based on changes in the market prices of precious metals.
The weekly average price of gold from the prior Thursday AM to the current Wednesday AM is likely to fall within the $1,250 to $1,299.99 range. Since this is one tier lower than the range used to establish current prices, it creates the possibility of a price reduction.
As a secondary criteria, the Wednesday London PM Fix price of gold must agree directionally with the change in order for the price reduction to take place. This means that the pricing action will be largely dependent on tomorrow’s London PM Fix price. If it comes in below $1,300, then a price reduction will take place. If it comes in at $1,300 or higher, then there would be no change.
Pricing adjustments have typically been implemented mid-morning on Wednesday after the London PM Fix price is known.