Post Number: 846
|Posted on Friday, March 23, 2007 - 10:02 am: || |
From Hemmings Motor News:
If you think the First Session of the 110th U.S. Congress can't get its collective mind (if it has such a thing) off of Alberto Gonzales and Iraq, you'll be heartened to know that Michigan’s Senators Debbie Stabenow and Carl Levin are also thinking about the really important things: such as the 100th anniversary of the Ford Model T.
Currently under consideration by the Senate Committee on Banking, Housing, and Urban Affairs you'll find their S.587, Model T Ford Automobile Commemorative Coin Act. If passed, the treasury will duly issue a 1.5-inch, 26.73 gram (one ounce) silver $10 coin, “emblematic of the Model T Ford and the assembly line.” They'll be legal tender and sold at face value ... plus an assortment of fees.
Interestingly, said fees won't enrich the national coffers, but rather our national automobile heritage: S.587 states “the first $5,000,000 of the surcharges received by the Secretary from the sale of coins ... shall be paid by the Secretary... Up to 1/2 to the Automobile National Heritage Area Partnership Inc., for creating an endowment for supporting the celebration and preservation of the Model T story; and maintaining and expanding national Model T educational programs.” The other half will go to “the Edison Institute, otherwise known as ‘The Henry Ford,’ in Dearborn, Michigan, a National Historic Landmark, for creating an endowment for maintaining and expanding displays and developing educational programs associated with the Model T Ford Automobile.”
- By David Traver Adolphus
Post Number: 1333
|Posted on Friday, March 23, 2007 - 11:50 am: || |
Thank heavens! Our Senators are finally trying to bring home some pork!
Post Number: 848
|Posted on Friday, March 23, 2007 - 12:27 pm: || |
I just hope it's not cheesy like the World Trade Center Coin advertised on Channel 20.
Post Number: 3884
|Posted on Friday, March 23, 2007 - 12:46 pm: || |
I don't believe that the World Trade Center Coins are government issues, i.e. they're just medals, with little or no secondary market value.
If the Model T does become a commemorative, it will be an official coin and will have secondary market value. Usually these coins come in uncirculated and Proof (mirror-like surface coins) condition.
A great idea, that will help local institutions.