Was it ever common to circulate experimental coins to generate collectors’ interest—Burdette Renaiss

Longacre

I was reading Burdette’s Renaissance of American Coinage book (1905-1908). In the section that describes the $10 eagle designed by Saint Gaudens, the author goes into details of how interested Roosevelt was in getting the coin issued. It seems that the President went above and beyond in order to generate interest in the new coins. For example, in discussing the new eagles, then in experimental stage, the author states, “[t]he President had made is clear to director Roberts that he wanted small quantities of the experimental coins made available to collectors. Roberts discussed this in more detail in a letter to secretary Cortelyou on July 23rd:

‘… In connection with the new coinage I intend to also refer to the President’s wish to have a number of the coins struck from the high relief experimental dies. I find that there is no law against our doing this under your authority, but the Mint officials should be authorized in writing and the number of pieces specified. In considering the number to be authorized, I would suggest that to strike only a few will be to give them a very high money value and very likely occasion criticism. Illustrate, the 1804 silver dollar piece, of which there are said to be only four in existence, sold in Philadelphia last week for about $3,500. It would be better, in my opinion, to strike several hundred and to at least allow the public collections of the country to obtain copies. … I suggest moreover, that there should be no distribution of them until after the regular new issue is out. That will relieve interest to a great extent and lessen the pressure for the experimental pieces.’”

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Does anyone know how common this technique for circulating experimental pieces? I know that the mint is somewhat famous for restrikes, but this seems to be something different. Does anyone have any thoughts or further background as to whether this is a frequent occurrence?

CaptHenway

I once read a story that said that when the Netherlands government wanted to introduce a 2-1/2 Gulden coin, they just made up a few hundred and had senior mint or treasury officials walk around spending them in stores to see what the merchants thought of them. They were popular, so the denomination was adopted. Imagine if it had not been!
TD