PPB December 2019

Osbo rne Co i nage Co . In Mint Condition Osborne Coinage Co., America’s oldest private mint, continues to creates custom coins with a rich history and tangibility that have stood the test of time and tech. by Danielle Renda P resident Abraham Lincoln is arguably one of America’s most recognized and well- known presidents. This isn’t only because of his steadfast leadership during the Civil War and his progressive movement to emancipate slaves, or even that he was the tallest president to date, standing at six-foot-four inches; it’s because of his beard. Lincoln, who was also the first bearded president, had a distinct appearance that distinguished him from the other 44 presidents. But believe it or not, there was a time when Lincoln was wishy-washy about keeping his signature beard—and it was Osborne Coinage Company, then Z. Bisbee Co., that helped him decide. Osborne Coinage Co., founded in 1835, is America’s oldest private mint. The Cincinnati, Ohio-based supplier produces as many as 600 million custom coins annually for a near-endless list of campaigns, events and milestones, from anniversary coins to Mardi Gras doubloons, gifts and awards, recognition and gift certificates, to building dedications, business “cards,” sobriety coins and, of course, promotional coins. Back in the company’s early days, President Lincoln distributed coins from Osborne Coinage when he ran for president in 1860 and for reelection in 1864—and after seeing his likeness printed on a sample coin, he opted for the beard. “He couldn’t decide how he was going to run, with or without the beard, so he had us make two sets of coin dies (the design to be imprinted on the coins) showing him each way,” says Gibson Olpp, marketing manager at Osborne Coinage. “He decided, after seeing the dies, to run with the beard.” Both sets of Lincoln’s dies remain in the company’s die vault today, along with dies from eight other presidential candidates, including Ulysses S. Grant and Franklin D. Roosevelt. Osborne Coinage also played a major role in World War II. The company made five billion red and blue food ration tokens, in just five months, that were distributed by the government. “Ration tokens were issued to each American family, dictating howmuch gasoline, sugar, meat and other items any one person could buy,” says Olpp. Using fiber tokens, the country was able to salvage every last bit of metal for the war effort, and throughout, Osborne Coinage’s nearly 1,300 employees worked round-the-clock to churn out as many as 80 million tokens each day. Decades later, Osborne Coinage became a well-known player in the casino industry, and was sought out by casinos as far away as Argentina and Greece to be their go-to- source for tokens or “chips.” The success was sparked by the legalization of riverboat casinos along the Mississippi River and its tributaries, Illinois, Louisiana, Mississippi, Missouri and Indiana. Osborne Coinage partnered with IDX Inc., a technology company, to develop the X-Mark Optical Security System, which eliminated counterfeiting by requiring each casino to have its own branded coins that couldn’t be used or played elsewhere. Through this effort, Osborne Coinage produced 250 million chips, which were distributed worldwide. The company has also found a way to evolve after the transition of casino chips to virtual currency, minting Commemorated to recognize the 50th anniversary of the Apollo 11 Mission, this one-ounce, fine silver coin features Neil Armstrong stepping onto the moon, and the reverse image shows the Armstrong Air & Space Museum in Wapakoneta, Ohio. Five-hundred of the limited-edition coins were made. 126 | DECEMBER 2019 | CONNECT