Providence (RI) Tercentenary – 1936

Celebrating 300 Years of Providence, Rhode Island

The 300^th Anniversary of the Landing of Roger Williams in what was to become Providence, Rhode Island, was a worthy event for commemoration. There was little doubt about that. Members of Rhode Island’s US Congressional delegation sought to have a commemorative Half Dollar struck to honor the event and to defray the costs of the celebration. The bill would authorize up to 50,000 struck at each of the three mints – Philadelphia, Denver and San Francisco.

The bill passed Congress and was signed into law by President Franklin Roosevelt. Although the bill was intended to honor the city of Providence, it became a symbol to honor the entire state of Rhode Island. The Rhode Island Tercentenary Committee was set up to manage the celebrations and to manage and distribute the coins.

Now that the mechanisms were in place to create and distribute a commemorative coin, it next needed to be designed. Although two Rhode Island artists had been instructed to begin the designs, it was later agreed that there would be an open competition in the state to create the coins. The two artists, John Howard Benson and Arthur Graham Carey, fittingly won the competition and created their designs.

The obverse depicts Roger Williams in a canoe, landing on shore and being greeted by a Narragansett tribesman. Williams has his right hand raised in a signal of friendship. The Narragansett Indian who greeted him extended his hand palm down, meaning “good.” Behind him is a corn stalk referencing the harvest that the Native Americans shared with Williams and with the Pilgrims of the Mayflower, some 16 years earlier. The periphery of the coin has “IN GOD WE TRUST – RHODE ISLAND – 1636 – 1936.” The word “LIBERTY” is just above to two main characters.

The reverse’s central image is the Anchor of Hope, taken from the Rhode Island state seal and the word “HOPE” is above the anchor. “E PLURIBUS UNUM” is below the anchor with “UNITED STATES OF AMERICA – HALF DOLLAR” around the periphery of the reverse of the coin.

The Philadelphia Mint struck 20,000 of the authorized 50,000 coins and sent them to Providence in time for the celebrations. But the main promoter, coin dealer, Horace Grant, sold only a small percentage to the public and then declared that they were “SOLD OUT” in a matter of just six hours.  However, as prices rose, a larger and larger supply of coins became available to the public at higher and higher prices.

By April 1936, just a month after the coins initially arrived in Rhode Island, Grant was offering them for sale at $7.50 per set of three or $2.75 per coin. By June of 1936, Grant was offering the 3 coins set for $9.00 and the prices continued to increase as did complaints from collectors about the mismanagement of the coins.  

In total, 20,013 coins from Philadelphia were sold and distributed state-wide and 15,010 from Denver and 15,011 from San Francisco were likewise sold and distributed across the state.

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