The first commemorative coin was a silver half dollar issued in 1892 to celebrate the 400^th anniversary of Christopher Columbus’ expedition to America and discovery of the New World.

This marked the beginning of Early Commemorative coinage, which actually consists of coins minted from 1892 to 1954, when the Booker T. Washington coin was issued. Instead of raising taxes, the profits generated from the retail of commemorative coins were used to finance government projects. Commemoratives speak of America’s remarkable events, people, and places, which is why commemorative coins are every collector’s treasure.