Q. David Bowers
The 1992 White House silver dollars were pro-duced in two different formats. Proofs were coined at the West Point Mint and Uncirculated impres-sions were struck at the Denver Mint. The produc-tion of no more than 500,000 examples was allowed bylaw, and this included both the Proof and Uncir-culated format pieces. The official date of issue was August 28, 1992.
Options and Prices
The Mint offered two options for the purchase of 1992 White House dollars:
(1) Proof 1992-W dollar, housed in a plush blue presentation case. Pre-issue price: $28. Regular price: $32.
(2) Uncirculated 1992-D dollar, housed in a blue card-board gift box. Pre-issue price: $23. Regular price: $28.
The White House 200th Anniversary coin had the lowest authorized mintage figure for a commemorative silver dollar in nearly 100 years, since the Lafayette Silver Dollar of 1900. Nothing spurs sales more than the concept of rarity, and orders poured into the Mint.
As of November 6, 1992, at ally showed that 375,154 1992-W Proofs and 123,599 1992-D Uncirculated coins had been sold. The remaining 1,247 unsold, coins were being kept by the Mint to fill, re-turned coins and order processing errors.
The 1992 White House dollar was the first modern commemorative coin of this denomination to create, widespread excitement in the collecting community. Once it was announced that the issue was sold out, those who had confirmed orders from the
Mint enjoyed something they had not seen before: the value increased!
Before long, those who had delayed sending in orders to the Mint complained that the Mint should have rationed the coins, and not filled bulk orders. However, the net result was that a good feeling was generated by a commemorative silver dollar that-finally rewarded its purchasers monetarily. However, it was pointed out by some observers that the 1984-D Olympic Games dollar, with a mintage of 116,675 coins, was rarer than the new 1992-D White House dollar. In August 1992, when the White House dollar sold out, the 1984-D Olympic games dollar was selling for below its issue price eight years earlier of $28. How the 1992 White House dollar will fare as an investment remains to be seen.
Commemorating: The 200th anniversary of the laying of the cornerstone of the White House.
Obverse motif: North portico of White House with "1792-1992" above, and "In God We Trust" below. "The White House" is inscribed around the top border of the coin, and "Liberty" is bottom center.
Reverse motif: Bust of James Hoban, original architect of the White House, and the main entrance he designed. 'James Hoban" is inscribed beneath the bust, with "United States of America" along the top border, and "One Dollar" at bottom center. "E Pluribus Unum" appears at right.
Authorization date: May 13, 1992. Dates on coins: 1792-1992.
Date when coins were actually minted: 1992.
Mints used: West Point, Denver.
Maximum quantity authorized: 500,000.
Total quantity minted: 499,261 (per Coin World, September 7, 1992).
Quantity melted: None, except for imperfectly minted coins (that were replaced with satisfactory pieces).
Net number distributed: 123,599 1992-D Uncirculated; 375,154 1992-W Proofs; balance of coins, amounting to 1,247 if the full mintage of 500,000 is used, less if the mintage of 499,261 is used, held to replace missing orders, take care of clerical errors, etc.
Issued by: U.S. Mint (Customer Service Center, United States Mint, 10001 Aerospace Road, Lanham, MD 20706).
Standard original packaging: Various options.
Official sale prices: Proof Silver Dollar: pre-issue price (before August 28, 1992) $28; regular price $32. Uncirculated Silver Dollar: pre-issue price $23; regular price $28.
Designer of obverse: Edgar Z. Steever, IV. Designer of reverse: Chester Y. Martin. Interesting facts: The 1992 White House 200th anniversary coin had the lowest authorized mintage for a commemorative silver dollar in nearly a century. In 1992, those who purchased these dollars from the Mint could sell them for an immediate profit.