AMERICAN ARTS COMMEMORATIVE SERIES MEDALLIONS Two 1980 Maria...

Hammer

£1,160

AMERICAN ARTS COMMEMORATIVE SERIES MEDALLIONS Two 1980 Marian Anderson Half-Ounce Gold Medals.
In the late 1970s, the United States had not produced a gold coin since 1933, and the demand for gold as a hedge against inflation was unprecedented. In 1977, inflation for the year reaching 6.50%, the importation of the South African Krugerrand reached 1.6 million coins. The United States, seeing the imbalance of trade with the importation of gold bullion, looked for a solution to address its domestic demand for gold. That temporary solution would be the American Arts Commemorative Medallions. The sale of the medallions required an individual to call a telephone number to get the day’s price of the medal, then that same day go to the United States Post Office and buy a postal money order for that price, then mail it that same day to purchase the medals. This would coin the term “Postal Gold” for the series.