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I don't understand how the coin raised money -- it's official US currency, right? I read and re-read and didn't quite figure out that part. --AW (talk) 08:36, 22 June 2014 (UTC)
Ok, lemme see if I have this right. They weren't actually meant to be legal tender at first. The Mint minted them, then sent them to banks, and then they were sold for $1 by associations and such. But how did they get from the banks to associations? Did they buy them from the banks, then resell them? And then they were released into circulation later on as actual money? --AW (talk) 08:44, 22 June 2014 (UTC)
They were always legal tender for $.50. Still are. Most of these commemorative issues where more than 1 million were issued were disasters. So that the association did not have to put out the cash the Federal Reserve Bank of Atlanta held them as part of their cash reserves until they were needed. They were never intended actually to be used as currency but obviously the market in them crashed. Had things gone as expected the association would've had $5 million in proceeds -2 1/2 million paid to the mint minus expenses and presumably that would've been enough to execute the design.--Wehwalt (talk)|
This article says the reference to Harding was removed at Coolidge's direction, but it provides no background for why. Was it because Harding's administration had been so plagued with personal and political scandal (some of which only broke after his death)? Was it because Coolidge held a personal dislike for him? Was it simply for aesthetic purposes (seems unlikely)? This could have a significant bearing on the story of the coin. --Piledhigheranddeeper (talk) 10:09, 23 June 2014 (UTC)
I'm away from home at the moment but my recollection is that the source neither stated that nor speculated about it. I came to fill holes and stories like that if I can. It's possible Coolidge may not of said. He wasn't giving to a lot of talking. My personal thought on the matter is that Coolidge didn't like the death of a president being an afterthought on a coin.-Wehwalt (talk) 11:08, 23 June 2014 (UTC)