New Rochelle – 250th Anniversary – 1938

New Rochelle’s Semiquincentennial and One Fatt Calfe

A group of religious settlers came to the New World from France. Called the Huguenots, they settled in an area in New York, near Connecticut, in 1688. The following year they purchased a tract of land from the land owner, John Pell. They named this tract after their hometown city, calling it New Rochelle. One of the conditions of the purchase was that they would give to Pell or his heirs “One Fatt Calfe” on June 24^th of each year, if they so requested it. Thus, this was the founding of the city of New Rochelle.

In 1938, the 250^th Anniversary of that purchase was approaching. The Westchester Coin Club was instrumental in promoting a coin for New Rochelle’s anniversary. The profits from the sale of the coins would help to defray the expenses for the planned local celebrations. Bills were introduced in the House and Senate in 1936 by local politicians. During negotiations, it was amended that the minimum order for coins would be 25,000 and that they would all be struck at one mint. The bill passed both houses of Congress and was signed into law by President Franklin Roosevelt.

The New Rochelle Commemorative Coin Committee was formed and they sought out an artist to create their coin. At first Lorillard, Wise was selected but the designs he created were roundly rejected by the Commission of Fine Arts. For whatever reason, the Committee then sought out Albany artist, Gertrude K. Lathrop to design the coin. Lathrop had already designed the Albany commemorative half dollar so she was thought of as a good choice.

Lathrop’s design for the obverse was a man, presumably John Pell, the original land owner, holding a rope which was around the neck of a “fat calf”. Arranged around the periphery of the obverse were the legends, “NEW – ROCHELLE – NEW – YORK – SETTLED – 1688 – INCORPORATED – 1899”.

The reverse design has a fleur-de-lis as the central device surrounded by mottoes and legends in two concentric circles. The inner-circle has “E – PLURIBUS – UNUM – LIBERTY – IN – GOD – WE – TRUST – 1938.” The outer circle has “UNITED – STATES – OR – AMERICA” and “HALF – DOLLAR”.

In April of 1937, the Philadelphia Mint struck 25,015 New Rochelle Commemorative Half Dollar coins. The extra 15 pieces were reserved for assay. The coins were distributed to the First National Bank of New Rochelle on behalf of the Coin Committee. Ms. Lathrop was very pleased with how her design was executed at the Mint. The coins were sent through the mail to those who ordered them in an imprinted envelope and in a 5-coin card of distribution.

The Coin Committee sold the coins at $2.00 each, profiting $1.50 on each coin sold. Coins sold through the mail went to all 48 states and to a dozen foreign countries. The coins were sold in 1937 and throughout all of 1938. By spring of 1939, the sales had slowed to a trickle, and then the Committee decided to return over 9,700 coins to the Mint for melting and the net amount sold, including assays, became 15,266. That low mintage ensured a higher price for the New Rochelle than for numerous other issues also struck during the flurry of coins issued during 1936.

The US Mint, for presentation to dignitaries, struck the first fifty coins on specially-polished proof blanks. These coins have mirrored fields like proof coins do. They bring significant premiums when graded as a specimen. The first fifty or so strikes after the proofs have “proof-like” qualities and when graded as “proof-like” they also bring increased premiums.

The Westchester County Coin Club also issued a companion medal to the commemorative half dollar as they and their members were so instrumental in obtaining legislation to provide for the coin, shepherding the legislation through Congress, purchasing numerous examples of the coin from the Committee and ensuring that the coin was distributed fairly and equitably.

Expand your collection today and shop for a 1938 New Rochelle Half Dollar 250th Anniversary SP-67 NGC.