American Arts Commemorative Series medallions

rdf:langString American Arts Commemorative Series medallions

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rdf:langString A photograph of a man wearing formal attire

rdf:langString Iowa Representative Jim Leach

rdf:langString North Carolina Senator Jesse Helms

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rdf:langString JesseHelms.jpg

rdf:langString Jim Leach.jpg

rdf:langString American Arts Commemorative Series Medallions are a series of ten gold bullion medallions that were produced by the United States Mint from 1980 to 1984. They were sold to compete with the South African Krugerrand and other bullion coins. The series was proposed by North Carolina Senator Jesse Helms after the United States Department of the Treasury began selling portions of the national stockpile of gold. Iowa Representative Jim Leach suggested that the medallions depict notable American artists. President Jimmy Carter signed the bill containing the authorizing legislation into law on November 10, 1978, despite objections from Treasury officials. The medallions were initially sold through mail order; purchasers were required to obtain the day's price by telephone before ordering. Later, the Mint sold them through telemarketing. Mintage ceased after the ten different medallions approved by Congress were produced. All were struck at the West Point Bullion Depository. The series sold poorly, prompting critics to blame the involved process by which they were first marketed, and the fact that they were medallions rather than coins.