Latest and Greatest
15 - 1997-P JEFFERSON NICKEL, MATTE "SPECIAL UNCIRCULATED"


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Coin Details

  

Set Details
Origin/Country: United States
Design Description: FIVE-CENT PIECES - JEFFERSON, PROOF
Item Description: 5C 1997 P
Grade: NGC SP 70
Owner: Cellgazer
 
Winning Set: Latest and Greatest
Date Added: 1/3/2012
Research: See NGC's Census Report for this Coin

Owner's Description

The 1997 U.S. Botanic Garden commemorative dollar was a coin that held a special interest for lawmakers. The museum and conservatory were created by an act of Congress in 1820, and together they are the oldest continuously operated garden in the nation. Although the U.S. Botanic Garden is little known outside of Washington, D.C., it sits at the foot of Capitol Hill and its trustees are Washington’s elite. Given that the U.S. commemorative-coinage program was foundering under a swelling number of issues in the late 1990s, Congress intentionally acted to bring attention to this commemorative dollar in order to raise money for the National Fund for the U.S. Botanic Garden. The Jackie Robinson commemorative coins (number five on this list) were scheduled to go on sale later that same year. One senator was so concerned about the competition caused by that coin that he took action. Senator J. Bennett Johnston, a Louisiana Democrat whose wife, Mary, was a vice chairwoman of the National Fund for the U.S. Botanic Garden, intended to block the Jackie Robinson coin unless a portion of the proceeds were diverted from the Robinson coins’ surcharges to support the Botanic Garden. Instead of raising money for the Jackie Robinson Foundation, which gives college scholarships to poor inner-city youths, sales supported the garden. Needless to say, this was controversial and did not improve the image of the suffering U.S. commemorative-coinage program. In a rare bit of irony, the Botanic Garden coin sold better than the Robinson coin. One reason was the 1997-P Jefferson nickel Matte “Special Uncirculated” coin. In an effort to spur sales, as they had done for the 1993 Thomas Jefferson dollar, the U.S. Mint offered a coinage and currency set that included a specially struck Jefferson nickel with a matte finish, minted in Philadelphia and bearing a P mintmark. Thomas Jefferson, along with other founding fathers, had championed the concept of a botanic garden on the National Mall, so there was some historical relevance. Just 25,000 examples of the set were to be sold and the pre-issue price was $36. The only way to get the special-finish Jefferson nickel was in the set and the small premium over the $30 pre-issue price for the commemorative alone made the coin an unbelievable deal. Everyone predicted a sellout, and everyone was right.

Garrett, Jeff; Schechter, Scott; Bressett, Kenneth; Bowers, Q. David (2011-03-04). 100 Greatest US Modern Coins (Kindle Locations 1153-1170). Whitman Publishing. Kindle Edition.

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