Stone Mountain Memorial Commemorative Half Dollar

Commems

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Jun 6, 2021
Among US coin collectors, the 1925 Stone Mountain Memorial commemorative half dollar is definitely among the series' most popular.

The coin was issued "in commemoration of the commencement on June 18, 1923, of the work of carving on Stone Mountain, in the State of Georgia, a monument to the valor of the soldiers of the South...and in memory of Warren G. Harding, President of the United States of America, in whose administration the work was begun." (Public Law 68-46).

The obverse ("heads" side) of the half dollar features General Robert E. Lee and General Thomas "Stonewall" Jackson of the Confederate Army. Both are shown on horseback, moving left, at the front of what the viewer is to imagine is a long procession of Confederate officers and soldiers. This grander scope was originally envisioned for the monument as well as the coin, but each saw reductions in its design objectives due to its own novel constraints. Lee is the forward of the two figures and is captured in a side profile; Jackson is depicted in the rear turned to face Lee (i.e., forward).

A perched American bald eagle with outstretched wings is seen on the reverse ("tails" side), along with the commemorative inscription - "Memorial to the Valor of the Soldier of the South."

Gutzon Borglum was the designer of the coin, as well as the original designer and carver of the Stone Mountain Memorial.

An interesting note about the purpose of the coin, the enabling legislation contains the phrase "...and in memory of Warren G. Harding, President of the United States of America in whose administration the work was begun." Harding had died of a heart attack in August 1923 after a little more than two years into his term. Maybe it was the inclusion of this statement concerning the Ohio-born Harding that helped the Congressional approval process to run smoothly. The original reverse design included the inscription "And in memory of Warren G. Harding" - it did not make it to the final design used to strike the coins, however.

The coins were used by the Stone Mountain Confederate Monumental Association of Atlanta as a fund raiser to support the mountain's carving. More than 2.3 million of the coins were struck by the US Mint, but 1.0 million unsold coins were ultimately returned to be melted. The sales of ~1.3 million coins, though substantial, were not enough to complete the planned Stone Mountain Memorial carving and construction; work essentially ceased in 1928. It was not until the State of Georgia stepped in and took over the project decades later (late 1950s) that it was completed (in 1970).


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The Stone Mountain Confederate Monumental Association, the sponsor of the Stone Mountain half dollar, used a variety of methods to promote the sale of their coin. One such endeavor was the "Great Harvest Campaign." The campaign involved the governors of the southern states that formed the Confederacy during the Civil War assuming a population-based, pro-rated sales quota for the coins. The selling price of the coins was $1.00. While some coins were sold, the Campaign was not the success that was anticipated.

A plan to create "special" versions of the coins was then developed - the half dollars would be counter-stamped on their reverse side with an abbreviation of each state's name and a number, and then auctioned to the highest bidder. Such counter-stamped pieces brought a range of prices at auction, sales in the $10 to $30 range were common, though a good number of successful bidders paid more than $100 - one bidder is said to have paid $1,300 for a coin with Florida markings. These were quite significant sums to pay for a 50-cent piece in 1925-26!

Here's one of mine, counter-stamped with "N Car" - and thus most likely auctioned in North Carolina.

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In addition to sponsoring the commemorative half dollar, the Stone Mountain Confederate Monumental Association ("Association") also sponsored a number of other fundraising initiatives.

For example, the Association created the "Children's Founders Roll" which was targeted at those under the age of 18. It required a donation of $1.00 in exchange for a bronze medal designed by Gutzon Borglum and struck by Whitehead and Hoag of Newark, NJ. In addition to the medal, children would also receive a certificate of membership in the "Children's Founders Roll" and would "...have the right to have their names enrolled on the Book of Memory, each subscriber on a line to himself or herself and opposite his or her name is inscribed the name of the Confederate soldier, or woman of the Confederacy, selected by the subscriber and to honor whose memory his or her subscription or gift is made."

The Children's Founders Roll bronze medal is octagonal, which instantly distinguishes it from the round half dollar.

Here's one of mine:

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Note: The bluish-gray color seen on both sides of the medal is an image artifact; the color is not present on the actual medal.
 
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