There are two Mark Twain gold issues, and both are U.S. Mint gold commemoratives, including the 2016 $5 Mark Twain gold coin and a gold medal. The 1981 Mark Twain Gold Commemorative Arts Medal was issued as part of the American Arts Commemorative Series from 1980 to 1984. The series honors influential American artists and authors while providing a gold domestic investment option.
Composition and Design
The Mark Twain gold medal has one troy ounce of gold with a composition of 90% gold and 10% silver. This alloy was chosen for durability and the distinct hue it imparted to the medal, distinguishing it from pre-1933 American gold coins.
Obverse Design
The obverse of the medal features a detailed portrait of Mark Twain with his name, MARK TWAIN, above the portrait and the letters MP at the lower right. The portrait exhibits Twain’s recognizable bushy hair and mustache.
Reverse Design
On the reverse, a steamboat represents Twain’s connection to the Mississippi River and the setting of his most celebrated works, including The Adventures of Huckleberry Finn. Lettering around the rim of the medal reads AMERICAN ARTS COMMEMORATIVE SERIES – 1981.
Designer Matthew Peloso
Matthew Peloso was tasked with designing the Mark Twain gold medallion. His expressive portrayal on the obverse highlights Mark Twain’s distinctive appearance and spirit, while the steamboat on the reverse pays homage to Twain’s literary themes. Peloso’s design for the Mark Twain Gold Commemorative Arts Medal is celebrated for bringing Twain’s persona to life.
Mintage and Rarity
About 141,000 Mark Twain medals were produced, but only 116,371 were sold and the remainder were melted down. The low number of sales compared to other bullion pieces has increased the desirability of this gold medallion among many numismatists.
Purpose and Market Competition
The American Arts Commemorative Series was created as a response to the booming popularity of foreign bullion coins like the South African Gold Krugerrand, which dominated the gold market in the United States in the late 1970s and early 1980s. Senator Jesse Helms and Representative Jim Leach were instrumental in proposing the series, which President Jimmy Carter signed into law.
The medals offered American investors a domestic gold investment option during a period of high inflation, bridging the gap between the end of the gold standard in 1971 and the introduction of the American Gold Eagle in 1986.
Legacy and Shift to Legal Tender Gold Coins
The underwhelming sales of the American Arts Commemorative Series prompted calls for a more accessible gold investment vehicle. In February 1982, the United States Gold Commission recommended issuing a gold coin that could be redeemable in dollars, which led to the release of the 1984 Olympic gold coins and the 1986 Statue of Liberty gold coins. Both issues were successful and sold out in advance, underscoring the appeal of legal tender gold coins over non-legal tender medals. In 1985, President Ronald Reagan banned Krugerrand imports due to South Africa’s apartheid policies, and Congress subsequently authorized the production of the American Gold Eagle bullion coin in 1986, solidifying its place in the U.S. gold market.
Other 1981 Commemorative Arts Medals
The 1981 series also included a half-ounce gold medal honoring author Willa Cather, designed by Sherl Winter. This medal featured a portrait of Cather on the obverse, and a reverse depicting a woman operating a field plow, representing Cather’s literary themes rooted in the American Midwest. Approximately 200,000 Willa Cather medals were minted, but sales totaled only 97,331, further illustrating the broader challenges faced by the series.
The 2016 Mark Twain $5 Gold Commemorative Coin
In 2016, the U.S. Mint issued another commemorative gold coin to honor Mark Twain authorized by Public Law 112-201. This modern piece captured Twain’s legacy with a detailed design by artists Benjamin Sowards and Ronald D. Sanders. The obverse was designed by Sowards and presents a portrait of Twain with his bushy hair and mustache surrounded by inscriptions of “LIBERTY, IN GOD WE TRUST,” and 2016. On the reverse, Sanders’ design shows a steamboat, another nod to Twain’s connection with the Mississippi River, and inscriptions reading “UNITED STATES OF AMERICA, E PLURIBUS UNUM,” and $5.
The coin, composed of 90% gold and 10% alloy with a weight of 8.359 grams (0.242 ounces of gold), was minted with a maximum authorized limit of 100,000 pieces. Sales totaled 13,266 proofs and 5,693 uncirculated coins. This coin was part of a program that included a silver dollar and supported Twain-related organizations through a $35 surcharge on each sale.
