United States Mint (Mint) Director David J. Ryder hosted members and supporters of the Naismith Memorial Basketball Hall of Fame today at a ceremonial striking of the 2020 Basketball Hall of Fame Silver Dollar Coin.
During his remarks, Director Ryder stated that "every day, across the Nation, the United States Mint connects Americans through coins, and it is our great privilege to connect America to the Naismith Memorial Basketball Hall of Fame." Ryder went on to announce that "the most unique feature of these coins is that they will be the first-ever colorized coins produced by the United States Mint! Coins with proof and uncirculated finishes will go on sale April 4th, and the colorized versions of the silver and clad coins will go on sale at a later date."
Other event participants included Naismith Basketball Hall of Fame President John Doleva; basketball legends Julius Erving and Sheryl Swoopes; and Massachusetts Congressman Richard Neal, sponsor of the legislation authorizing the Basketball Hall of Fame Commemorative Coin Program.
The silver dollar is one of three coins in the 2020 Basketball Hall of Fame Commemorative Coin Program. The Mint will also produce a five dollar gold coin and a half-dollar clad coin as authorized by Public Law 115-343 in recognition of the 60th anniversary of the Naismith Memorial Basketball Hall of Fame.
All three coins will be dome-shaped and will feature common obverse (heads) and reverse (tails) designs. The common obverse design features three players reaching for the ball in unison, reflecting how the sport of basketball has brought together diverse people around the world through a simple, universal, and unifying athletic experience. Their arms are slightly elongated to emphasize the full exertion of physical and mental energy required to excel in this sport. The rim and net are subtle background design elements complementing the three players. Inscriptions are "LIBERTY," "IN GOD WE TRUST," and "2020."
The common reverse design depicts a basketball about to pass through the net, with the inscriptions of "UNITED STATES OF AMERICA" and "E PLURIBUS UNUM." Additional inscriptions include "FIVE DOLLARS" on the gold coin, "ONE DOLLAR" on the silver dollar, and "HALF DOLLAR" on the clad coin.
Mint Artistic Infusion Program (AIP) artist Justin Kunz created the obverse design, which was selected from a public competition as required by the authorizing legislation. The common reverse design is by AIP artist Donna Weaver. Read this here.
The Mint will produce and issue up to 50,000 $5 gold coins, 400,000 $1 silver coins, and 750,000 half–dollar clad coins. Surcharges collected from coin sales—$35 for each gold coin, $10 for each silver coin, and $5 for each half–dollar coin—are authorized to be paid to the Naismith Memorial Basketball Hall of Fame to fund an endowment that will enable increased operations and educational programming.
About the United States Mint
Congress created the United States Mint in 1792, and the Mint became part of the Department of the Treasury in 1873. As the Nation's sole manufacturer of legal tender coinage, the Mint is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including proof, uncirculated, and commemorative coins; Congressional Gold Medals; silver and bronze medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers.
About the Naismith Memorial Basketball Hall of Fame
The Naismith Memorial Basketball Hall of Fame is an independent non-profit 501(c)(3) organization dedicated to promoting, preserving, and celebrating the game of basketball at every level – men and women, amateur and professional players, coaches and contributors, both domestically and internationally. Located in Springfield, Massachusetts, the birthplace of basketball, it is home to more than 400 inductees and more than 40,000 square feet of basketball history.
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United States Mint – Connecting America through Coins
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