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1 United States Mint Citizens Coinage Advisory Committee Meeting Friday, October 18, 2013 The Citizens Coinage Advisory Committee met in the 8th Floor Boardroom at 801 9th Street, N.W., Washington, D.C., at 1:30 p.m., Gary Marks, Chair, presiding. 2 CCAC Members Present: Gary Marks, Chair* Michael Bugeja* Robert Hoge* Erik Jansen* Michael Moran* Michael Olson* Michael Ross* Jeanne Stevens-Sollman* Thomas Uram* Heidi Wastweet* United States Mint Staff Present: Don Everhart* Greg Hafner April Stafford Jack Szczerban* Greg Weinman *Present via telephone 3 Contents Welcome and Call to Order 4 Discussion of Letter & Minutes 5 Review and Discuss Candidate Designs For the Code Talker Recognition Congressional Medal Program (Monominee Tribe) 6 Discuss Platinum Program Themes (2015 and Beyond) 35 Adjourn 60 4 Proceedings (1:32 p.m.) Welcome and Call to Order Chair Marks: First item on the agenda is approval and, or approval or discussion of the minutes and the letters from the July 23rd 2013, July 24th, 2013 and September 18, 2013 meetings. Mr. Weinman: Gary? Chair Marks: Yes. Mr. Weinman: This is Greg Weinman. Could I ask you a quick favor? Could you please formally call the roll for the Court Reporter? And then remind everybody that before they speak to identify themselves for the Court Reporter on this conference call. Chair Marks: I'm sorry. I should have done that. Okay. So we will call the roll. Mike Bugeja. Member Bugeja: Here. Chair Marks: Robert Hoge. Member Hoge: Here. Chair Marks: Erik Jansen. Member Jansen: Here. Chair Marks: Michael Moran. Gary Marks, the Chair, is here. Member Moran: Here. Chair Marks: Mike Olson. Member Olson: Here. Chair Marks: Michael Ross. Member Ross: Here. 5 Chair Marks: Jeanne Stevens-Sollman. Member Stevens-Sollman: Here. Chair Marks: Tom Uram. Member Uram: Over Here. Chair Marks: Heidi Wastweet. Okay. So we have nine members in attendance. And, you know, just as a reminder as we move through this phone meeting, we're going to ask the members and the staff that when you speak to please announce your name so the Court Reporter will know who is speaking. It can be very difficult when we can't see each other. And I'll also ask just to have some forbearance for each other. And please try to avoid talking over the top of each other. Everyone will get a chance to talk. So just want to try to make this meeting as intelligible for everyone as possible. So with that, staff, are we ready to go? Ms. Stafford: Yes, sir. Discussion of Letter & Minutes From Previous Meeting Chair Marks: Okay. Now with that, let's look at our letters and minutes from the previous meetings. Is there any discussion? I mean, I'll just add that Michael Moran had earlier sent me a couple of changes for the minutes for July 23rd. I made those changes, and 15 or 20 minutes ago I sent a revised version of those minutes to the entire committee and to the staff. So I'm hoping you have those. The changes were not material. They were just errors. And one was a type, and one I misidentified the denomination on a coin. So is there any other discussion on the minutes? Member Moran: Hey, Gary, this is Mike Olson. I 6 haven't had a chance to look at the revised ones. But the denomination of the coin, would that have been the half dollar versus the dime? Chair Marks: Yes. Member Olson: Okay. Member Moran: Gary, this is Mike Moran. I did happen to look at the revised minutes. They're fine with me. Therefore, I make a motion we approve. Member Stevens-Sollman: This is Jeanne. I second that motion. Chair Marks: Okay, I'll ask Michael, you know, if his motion includes all three sets of minutes? Member Moran: Yes. Chair Marks: And the letters to the Secretary? Member Moran: Yes. Chair Marks: Okay. Is there any further discussion on the motion? Okay, all those in favor, please say aye. (Chorus of ayes.) Chair Marks: Any opposed? The motion carries unanimously. That takes us into our review and discussion for candidate designs of the Code Talker Recognition Congressional Medal for the Menominee Tribe. Are you ready to provide your staff report? Review and Discuss Candidate Designs For the Code Talker Recognition Congressional Medal Program Ms. Stafford: Yes, sir. As noted before we had planned to have tribal representatives join us. Should they call in as we continue, perhaps if we have started into the design discussion we could pause and have them address us, if that's okay with you, Mr. Chairman. Chair Marks: Yes. That will be fine. 7 Ms. Stafford: So it's Public Law 10-420 that authorizes the Secretary of the Treasury to strike Congressional Medals to recognize the dedication and valor of Native American Code Talkers to the United States Armed Services during World War I and World War II. Unique gold medals are to be struck for each Native American tribe that had a member that served as a Code Talker. And silver duplicate medals will be presented to the specific Code Talkers or their next of kin. Bronze duplicates will be struck and made available for sale to the public. In January of 2013 we received from the Secretary of Defense an updated list of Native American Code Talkers who served in the Armed Forces during World War I and II. The list was organized by tribal affiliation. And the number of tribes has grown from 25 to now 32. Each tribe was contacted to establish a design concept, and to appoint an official liaison who works directly with the United States Mint, as well the tribal historian or any other expert for design review. The Department of Defense designated the U.S. Army Center of Military History as our contact to review all obverse designs for historical accuracy of uniforms and equipment. I can confirm for the committee that the U.S. Army Center of Military History has completed their historical review of all seven candidate obverse designs. The obverse designs represent the Code Talkers' dedication to military service, while the reverse designs feature iconic symbols or elements unique to the tribe. And can include their tribal seal or selected elements from their seal. There are no required inscriptions for this program. However, for consistency the obverse designs include the tribe's name, Code Talkers, and if desired a language unique to the tribe. While the 8 reverse inscriptions include either World War I or World War II, as applicable to the war served, and Act of Congress 2008. In today's meeting we'll be reviewing obverse and reverse designs for the Menominee Nation. And we will go straight to the obverse designs. We have seven obverse designs featuring Menominee Code Talkers carrying out communication or tactical tasks. They are inscribed "Menominee Code Talker" and an inscription which translates to Menominee secretly talking to each other. Sorry, Menominee secretly talk to each other. First we have Obverse-01, depicting a Code Talker using a field radio. Obverse-02 includes a B-17 flying overhead and another squad member keeping watch in the background. Obverses-03, 04 and 05 all incorporate P-51 Mustangs with a Code Talker in the foreground. So I'll pause so members can review Obverse-03, 04 and 05. Finally, Obverses06 and 07 depict radio use and watchful soldiers. So I'll pause to show Obverse-06 and Obverse-07. Mr. Chairman, shall I pause for discussion, or continue with the reverse designs? Chair Marks: Let's continue on with the reverse. Ms. Stafford: Okay. We have six reverse designs that feature the Thunderbird, the central element of the Menominee Nation seal, the five clans, specifically the Bear, Eagle, Wolf, Moose and Crane, a sturgeon and wild rice. The Menominee tribe is known for its reliance on wild rice, and as intense fishers, especially for sturgeon. The designs are inscribed World War II and Act of Congress 2008. Here we have Reverses-01, 02, 03, and 04. 04 is the preferred reverse of the tribe. And it was 9 slightly edited to accommodate the request that the mouth of the wolf be closed. And finally, Reverse05 and 06. Mr. Boivin: Hello. Ms. Stafford: Hello. Can you tell us who is on the line? Mr. Boivin: This is Gilbert Andy Boivin, Commander of Veterans of Menominee Nation. Ms. Stafford: Welcome. Thank you for joining us, Mr. Boivin. We've gone through review of the obverse and reverse designs. Would you like to say a few words to our committee? Mr. Boivin: Well, first of all, just to let you know that Warren Wilber, a prior commander, and Dave Grignon, our historical Tribal, Historical Preservation Officer is also here. But I just wanted, I'd just like to say thank you for including this on this program. It's a well-deserved honor of our past veterans. Ms. Stafford: Thank you very much. I would just repeat, we've gone through each of the designs, describing the descriptions of the seven obverse designs. And if I did not note it, I should for the committee, the tribe prefers Obverse-04. Mr. Boivin: Yes. Ms. Stafford: And we went through the six reverse designs. And the tribe preferred Reverse-04 as well. Mr. Boivin: Yes. Ms. Stafford: Okay. Mr. Boivin: With the exception of the, with the wolf's mouth being closed. Ms. Stafford: Yes. And we have presented it to the 10 committee today with that adjustment made, at your request. Mr. Boivin: Okay. Chair Marks: For our guests, my name is Gary Marks, I'm the Chairman of the committee. And before we move on with our consideration of these designs, I'd like to ask if you have any comments or any statement, or what have you, concerning these designs? Mr. Boivin: No. We don't have no concerns with the designs. We actually, we like them. We like them very much. Chair Marks: You like, yes. And we understand you like Obverse-04 and Reverse-04. Okay. Thank you. Okay, April, do you have anything else to add to your report? Ms. Stafford: No, sir. That's it for us. Chair Marks: Okay. For the record, I texted Heidi Wastweet while we've been having our discussion so far. She has responded to me, and said that she would be joining the meeting shortly. So when some, I'm expecting someone else in the form of Heidi to beep in here soon. So with that, I want to ask the committee if they had any questions of a technical nature before we actually start considering the designs? I would like to get any questions answered that might not necessarily be about the artwork, but more about the technical natures of how the metal might be produced, or other sorts of questions. So is there anyone that has any technical questions? Member Hoge: Gary, this is Robert Hoge. Chair Marks: Yes, Robert. Member Hoge: Hi. On the fourth reverse side, it appears as though the (telephonic interference.) 11 How might that be? Chair Marks: Robert? Robert we lost you. We can't hear you. Member Hoge: Sorry. On Reverse number 4, in the central area it appears as though there's a darker circle. I wondered if that is a form of stippling, or how it might be done, how it might be rendered? We might want to think about that. Mr. Ancarmici: This is Steve Ancarmici. That would be a texture we would build into the actual coin. You could refer to it as stippling, yes. Member Hoge: I don't see where that adds to the design. But I just, I was curious as to what's supposed to be done there. Chair Marks: Okay. Is there someone else who has any technical questions? Mr. Everhart: Yes, this is Don Everhart. I just wanted to comment on what Mr. Hoge said. I feel that what it adds to the design is that it unifies the animal heads, you know, into one entity. And makes it more of a unified statement. Chair Marks: I think it also might -- Tell me if I'm right on it. It may also give a little more contrast to the central figure of, I'm not sure what -Mr. Ancarmici: Thunderbird. Member Stevens-Sollman: A Thunderbird. Chair Marks: The Thunderbird. Is that correct? Mr. Everhart: Yes, Gary, it's very true. Chair Marks: Okay. All right. Are there other questions of a technical nature? Okay. I heard someone beeped in while we were having our discussion. Could that person identify themselves if you just joined us? 12 Member Wastweet: This is Heidi. Chair Marks: Oh, hi, Heidi. I'll mark you down as in attendance. Heidi, we just received April's report on the Menominee medal. We have some guests from the tribe who are also on the phone. We've been made aware that the tribe prefers Obverse-04 and Reverse-04. And as I think you've just heard we just went through our technical question phase. So with -Member Wastweet: Thank you, Gary. Chair Marks: Sure. But with that we will begin our committee discussion. And I'm open for any one of the members who would like to start our discussion. Member Bugeja: Gary, this is Michael Bugeja. Chair Marks: Yes, Michael. Member Bugeja: I'd like to start. I have a quick question for you, Gary. You know, I'm ill. I've got the flu and a bad fever. And is this the only voting agenda item today? Chair Marks: Yes, it is. Member Bugeja: Okay. So I would like to -Chair Marks: Well, I should clarify that, Michael. I may need to clarify that. We are talking about the Platinum Program later. I can't rule out that there might be a motion -Member Bugeja: Okay. Chair Marks: -- related to themes. Member Bugeja: Well I would ask you, Mr. Chairman, if after I give my exegesis of the Code Talker, that I be dismissed for illness. Chair Marks: Okay. That will be fine. Can you simply email Erik and myself your scores on the site? 13 Member Bugeja: Yes, absolutely. I would like to give a brief description. I happen to like both of the tribe's choices on the obverse and the reverse. But I have some slight recommendations that I would like the committee to hear. On Obverse-04, which was my favorite, and this is not for a vote or for an amendment, or anything of that. I wonder if the orientation of the plane can be moved towards the viewer, rather than with the soldier, five to ten percent, so that they're almost coming out of the coin? It would add a lot of depth from a design perspective. That's the only thing I have to say on that one. And on Reverse Number 04, which was also my favorite, I noticed that on the previous reverses, particularly on Reverse Number 02, there doesn't seem to be a cultural -- And if I'm wrong I hope our guests from the Menominee Nation will let me know. But there doesn't seem to be a cultural placement of the various animals. So if you take a look at Number 02, you have everything the way one would expect it logically. You've got the eagle that flies on the top. And you've got the fish that swims toward the bottom. And it's set up very nicely. Now I could be wrong, but it seems to me that the fish is on top on Reverse Number 04 merely for a design reason. But from a cultural iconic placement -- And I do not know the Menominee Nation. But I do know the Oglala, Lakota and others in South Dakota. And it's important to place these images in the context of earth and sky. So if I'm wrong I'm hoping that the Menominee Nation representatives can let me know. But I would take the eagle, put it where the fish is, move the fish down. The water bird should be near the fish. The bear and the wolf should be changed because bears are often in that water too. 14 So I know that's a little bit different from what we normally do. But I would ask our representative from the Menominee Nation is, if making that kind of a change would I be inappropriate or, and somehow misguided? Mr. Grignon: I'm Dave Grignon. I'm tribal Historic Preservation Officer for the Menominee tribe. And the orientation of the clan animals are correct. And I believe the reasons the sturgeon is on top is it's kind of a, it's a protector of our people. And it has a lot of sacred significance to us. And, I mean, that's the reason why the clans are orientated like that, plus the sturgeon is on top. Member Bugeja: Okay. So in other words I'm, perhaps the Menominee Nation did not prefer Reverse Number 02 because the sturgeon is where it should be, you know, from a geographical perspective. So am I correct, and that was one of the tribe's reason for not liking Reverse Number 02, because the sturgeon was misplaced? Mr. Boivin: No it isn't -- This is Gilbert. Member Bugeja: Yes. Mr. Boivin: We're not really saying that it was displaced, just that the sturgeon, it has such significance for our tribe. Member Bugeja: Okay. Mr. Boivin: And, you know -Member Bugeja: I understand what you're saying. Okay. That would have been my only suggestion is to, from a geographical perspective. But if it has meaning, then I withdraw my description. Chair Marks: Okay. Michael, do you have anything more? Member Bugeja: And I'll go ahead and email you my favorites. I'm going to like both Number 04s. 15 They're my favorite. Chair Marks: Okay. All right. Are you finished? Member Bugeja: you. Yes, I'm finished, Gary. Thank Chair Marks: Okay. And with that, is there another member who would like to go at this time? Okay. You know, what I'll do, since no one's popping up, I'm going to go to our artists first, and ask them to comment. And, Jeanne, I'm wondering if you might be ready to -Member Stevens-Sollman: Sure. Chair Marks: -- lend us your input. Member Stevens-Sollman: Yes, I will. Thank you very much. I think that what the artist has provided with us this time, I think our Code Talker soldiers are a little bit different than previous ones that we've had. And I think it's very interesting to have some guy art in there with the planes. It's very good. I too like Number 04. I think it tells us really what the code talkers are about, and the importance of their work. And on the reverse designs I, you know, I do like Number 04. I think it's wonderful to have all the clans represented. But Number 05 I think as a medal is something very contemporary. So I thought it was the other powerful statement. I like what is happening with the rice and the sturgeon very much. However, you know, we are lacking the clans there. So I will defer to the tribe's preference. But I do think that Number 05 was quite an interesting and strong piece. That's all. Thank you. Chair Marks: ready to go? Thank you, Jean. Heidi, are you 16 Member Wastweet: Yes, I am. On the obverses I think that we really couldn't go wrong with any of these. And I will stand behind the tribe's preference of Number 04. One of the things I like about Number 04 is the harmony of angles between the antennas, the airplanes with each other. There's several things going in the same direction. So it has a lot of movement. And I'm in support of that. On the reverses I'm also fine with the tribe's preference. And I'm going to echo what Jeanne said about Reverse Number 05. I think that's a really beautiful design. Excuse me. I understand the tribe really wants the symbolism of the multiple animals. So I just wanted to mention Number 05 as being a really strong design. It's very unified. Whereas having each individual animal is a little disjointed. So artistically Number 05 gets my support, but symbolically Number 04. I would steer away from Reverse Number 06 for two reasons. The animals there, I don't think they're going to read terribly well on the finished piece. They're going to be very, very small on those like small coins. Design wise it's nice. I don't think it's going to read completely well. And the bear seems to be missing an ear. My other point, the other thing I like about Reverse Number 04 and 05 is the division of the words, World War II and Act of Congress 2008. Some of the designs have those words on the same size and won’t come out when clumped together, so that they become one statement. And that’s all for that. So I will stick with 04 and 05. That's it. Chair Marks: Thank you, Heidi. else? who would like to go now? Is there anyone Member Olson: Gary. It's Mike Olson. 17 Chair Marks: Hey, Mike. Member Olson: Hey. Again, a lot of good work done here. I myself was also drawn to Obverse Number 04. And I agree with Michael Bugeja that that design could be made even more exciting than it looks right now by turning the orientation of those fighter planes slightly towards the viewer. I think that would be very, very powerful. As for the Reverse, no comments on that, other than I'll support the tribe's preference. It's been explained very well of what's happening, and what the significance of the placement is. But I'm glad that question was asked, because I had the same question. Other than that, that is all I have for comments on this. Chair Marks: Thank you, Michael. I think I'll go ahead and throw in, this is Gary Marks. I'll go ahead and throw in my comments now. Obverse-04 and 05 are my two favorites. Of course they're very similar. If I want to go for the one that I feel is artistically superior, and something that might produce what collectors and folks that will be buying these outside, of course, the Nations and the Menominee Nation itself, I would go with Number 05. Having the design kind of go off the edge as it does, without the outer band, makes that actually, in my opinion, a superior design. However, I also understand the tribe's desire to have the text that encircles, and just more information. So I'll be supporting both of those obverses in my evaluation. Then as we go to the reverse, in general I want to recognize the tribe's desire to have the clans on the medal. I'll be bold though, and say that sometimes when you put too much on to a small metal disk like this you get less, not more. 18 And what I mean by that is if we look at Reverse Number 05 and you see, other members have spoken to this already, you see the power and the size of those images, it translates a message about the tribe that these others that have scattered objects on them just cannot do. I mean, you know, as far as its artistic power. So, while I understand the reasons for the Nation wanting Reverse Number 04, I feel very strongly that 05 really serves the medal better from an artistic point of view. So with that, those are the only comments I have. Is there another member ready to offer theirs? Member Jansen: Gary, it's Erik. Can you hear me? Chair Marks: Yes, Erik. Member Jansen: On Obverse-04 I have a question. Why does Obverse-05 in this co-action regarding the antenna/wingtip issue? Is there a different reason? Ms. Stafford: No. It's just another, it's another iteration of it. It's missing the inscription that translates to Menominee secretly talk to each other. Member Jansen: Okay. I generally agree with Gary's comments. On a medal this large, often bleeding the image off of the medal is such a powerful way using the massive volume of the medal to maximum image impact. But in this particular case I think that's the minor issue here. I like the angles here. It is a comment I have, that I do like the Obverse-04, the back I think here. But we're succumbing to, I think, an artistic tool in here, which is taking away from the design. And that is, we have three planes that are essentially identical copy and paste here, larger size, smaller size. But nonetheless, they look just like a Photoshop copying problem. 19 And I would urge the artist who sculpts this, I would encourage you to sculpt each plane separately, and let your hand add this natural variation in the sculpting. So they don't look like copy drop Photoshop. And did these airplanes lose their propellers? Dealing with props is always an issue. And I refer to Obverse-03, where you actually see props on the planes. I know Don has spoken to this in the past, that when we had propeller aircraft in images, and the pros and the cons, and the difficulties of that. But I raise that for comment. Don, what's your thought there? Mr. Everhart: I feel very strongly that we should not show propellers. Because quite simply you cannot see them when they are in rotation. And like I mentioned before, when you do see them like that, it's kind of disconcerting. Because if you admit it may be gliding or something. I just feel it's a better representation to not show them in sculpt. And I've sculpted a lot of coins, a lot of plane coin designs in my career. And I never put props on. Member Jansen: Okay. So drop the dropped prop. But I would stand firm on the, to try to give a bit of our artistic hand rendering on these, so they don't look identical. Otherwise, I think Obverse-04 is the way to go here. I love the additional information around the perimeter. Because it is such a richening of this medal in this case. On the reverse, Reverse Number 04 is my preference. A couple of comments, however. It looks like we've again got kind of a flip copy and drop of the rice sheaves, if rice comes in sheaves. They look identical to me. 20 I'm not sure I'd like them identical. That isn't to say I want them so different that they put the medal design out of balance. But there's a difference between identical and imbalanced. Second of all, the Thunderbird design, and this is really interesting. The Thunderbird design as it's rendered here, including the six examples of it, it is a highly geometric design with hard sharp borders and proscribed angles, which clashes very harshly with the accurate and soft rendering of the animals. Now, that just is what it is. However, I would encourage the sculptor to look at the variations of the Thunderbird in the six designs here. Go from design to design to essentially the perspectives that vary here. And I would refer to the tribal historian to really look over this Thunderbird to make sure we got it right. Because it looks to me like it suffered more from the tool driven artifact of, how do I create this Thunderbird out of straight line vectors, than do I really have the Thunderbird right. Now, to make my point a little more clearly, look at the Thunderbird in Reverse-05 and 06. Actually, 06 is the best example. That's a very symmetrical, left/right, bilaterally symmetrical rendering there, with the exception of the head. Obviously we have the head turned to the side. None of the other Thunderbirds have this same left/right symmetry. And so I ask, what is the correct left/right symmetry, if there is left/right symmetry? It's a harsh element, which I think is going to end up looking very harsh when it's rendered in relief. Because it's going to have very hard contrasting edges against soft rendered fur and feather on the beasts. So, I'm just concerned. And so I would ask the sculptor to really carefully, carefully deploy the mechanics of his tools to minimize that, and get the Thunderbird right, per the correct rendering, and 21 the artist and the tribal expert. Reverse-04 is my vote. It's my only vote. Although, with all due respect, when I first looked at this I loved Reverse-05. Because Reverse-05 stood out as kind of a, tell me more about this unusual, intentional image. Mr. Grignon: Thank you, Donald. This is Dave Grignon from the tribe. The Thunderbird that we're using is the same one that's on the tribal seal. And I think we want to stay consistent to what that is. Chair Marks: Well, I don't think you were asking to change it, were you? Member Jansen: No, no, no. I'm not asking to change it. But, for instance, I'll give you a specific example. On Reverse-04 at the heart of the Thunderbird, call it the point of the, of its waiste, WA-I-S-T-E. You find that the inverted V is kind of a funny left/right transposition, versus that same inverted V in the waiste position on say, Reverse-05, or Reverse-06, which are both symmetric left to right. So one of those three, or two of those three are wrong. And I sense it's due to the difficulty of creating that Thunderbird with the artist's design tools, more than it was an intentional design. Chair Marks: Oh, I see. I understand what Erik is saying. If you look at the center of the Thunderbird in Number 04, Reverse Number 04, and look at the center of the Thunderbird on some of these other examples, other reverses, there is a difference there with those triangular shapes. Is that what you're getting at, Erik? Member Jansen: Well that's certain one example. But the examples are right, they're right in the wing feathers, the trailing wing feather. They're right in the enter tail feather. It looks like an arrow. It looks like an upward facing arrow. 22 If the inconsistencies in design Number 04, versus the Thunderbird as it exists in the other five designs. So I would just encourage the sculptors to consult very carefully with the tribal historian and experts on this to make sure that we honor their symbol correctly, and with the integrity that it carries. Chair Marks: Thank you, Erik. Is everyone understanding what Erik is saying? If you look at the various illustrations of the Thunderbird, the various reverse -Ms. Stafford: Right. Chair Marks: -- designs, there are some variations. They're slight. There are slight variations. And I would echo Erik's concern that we make sure whichever reverse we do that the Thunderbird is done accurately, as per the specs of the Nation. Member Jansen: I mean, in my view it's an artistic element for sure. However, it is more than that. It is first and foremost a cultural element, that I want to make sure satisfies and gratifies the tribal interest first. Ms. Stafford: We understand the comment. And we have the Thunderbird as depicted in the Great Seal, that we'll ensure should this design be selected, we'll ensure the sculptors use it as a reference. Member Jansen: I believe we have an artistic balance always. And we have an integrity and honor intention always, as a committee. Chair Marks: Okay, Erik. Is there anything more? Member Jansen: No. I vote for Obverse and Reverse-04 as my number. Chair Marks: Okay. Thank you, Erik. We have four members who haven't offered their comments yet. Would one of you please go ahead? 23 Member Moran: Gary, this is Mike Moran. Chair Marks: Mike, go ahead. Member Moran: I'm fine with Number 04 of the obverse. But I want to point out a couple of areas that I think need to be focused on. And it's basically a canteen on the soldier, on the left hand side of the coin. It appears to be somewhat suspended. It would, if it were fuller it would be hanging more closer to his side. The other issue I have is the way he's holding that phone up to his ear. For me that's an attendant positioning of the hand. And he's not going to be doing that in combat. He's going to be gripping that phone handle, because he's in stress. And I also want to follow up with Michael Bugeja's comment. If you turn the angle of the P-51 fighters' nose ever so slightly, to where they're coming more out of the coin, or the medal, and at the viewer. You're going to need to turn the soldier's head, because they're obviously focusing on the same thing, which is an enemy emplacement out in front of them. So to be consistent you're going to have to turn both. You can't just turn the noses of the planes. As far as the reverse goes, my first choice as I put through here was definitely Number 04. But then I realized you dropped the clans. And you can't do that. So my vote is for both 04s, and the Reverse04 as modified. Those are my comments. Chair Marks: Thank you, Michael. I need someone else to go ahead. Member Ross: Hi, Gary, it's Michael Ross. Chair Marks: Hey, Mike, go ahead. Member Ross: I'll be quick. I like 04 as well. I 24 think the tribal language should be on the coin. I did, I was just going to say to compliment the artist. I also like the depictions here. And they reminded me of the beautiful cover on David Maraniss' book, “They Marched Into Sunlight". But I'm going to go with 04, because I agree with the comments I've heard. And the same thing on the reverse. So 04 and 04. Chair Marks: Thank you, Michael. need to hear from Robert or Tom. Okay, I just Member Hoge: Robert here. I would like to put my vote for the Obverse-04 and Reverse-04, and respect the tribe's wishes. But I'd also like to comment that I agree with Michael Moran's observations on the obverse in regard to the hand holding the telephone, and the positioning of the canteen, both of which just seem to be kind of off placed. Also, on Reverse-04 we were talking about the Thunderbird design. I think it might we well to learn a little bit about where it came, that design that appears on the seal of the Nation. Because if we could get back to an actual artifact from which this came, that might be, you know, something to just kind of find to tie into earlier history of the tribe. So many of these medals that we've looked at seem to simply incorporate elements from tribal feel, but really have kind of a WPA aspect about them. They're always very flat, very linear. Sometimes in this case geometrical. But I suspect that these are derived from some really, you know, really a prominent cultural piece. Perhaps this is just beadwork from a shoulder bag, or something like that. Also, I'd like to note that these images of the 25 animals are so perpetual. You can see they're almost the same from one of these medal designs to the other. And to me they're disappointingly out of proportion, each one with the others. And I just wonder if the artist could come up with something that would be a little bit more appealing, and perhaps even more lifelike. And perhaps something that would coalesce a little bit better with the Thunderbird element. That's it. Chair Marks: Thank you, Robert. Tom. Member Uram: Thanks, Gary. Again, on them, I agree with those two, the comments that were made regarding Obverse-04 and Reverse-04. And I think on the canteen, Mike, there, where you mentioned that it seems like the canteen has a little bit more of a movement than the fixed depiction of where we are with the soldier. And so that may be why it's like he almost hit the ground, and the canteen is going up, you know, that kind of thing. That might be the attempt there. And it may be that the thumb over that, the thumb should be around, or the hand grasping the phone a little bit more firmly. That would be the only problem. I thought that, I really also, and Bob just mentioned regarding the Obverse-06 and 07 I thought were really nice designs also. But I'm going to -I think certainly with the planes, I was kind of concerned with the planes, and proportion to the whole thing. But I think that's been delved into. And I'm going to stick with Obverse-04. And I think Reverse-04 as well. It's great. But being the tribe prefers that. And I did understand Michael's comments earlier in regards to the sturgeon being below in Reverse-02. I do like Reverse-02, and 05 for that matter. 02, 04 and 05 are super. 26 But I'll defer also to the Nation's choice of Number 04. But the, you know, even the worst designs here are really outstanding. Thank you. Chair Marks: Thank you, Tom. Now, before we move on to our voting phase for this medal, I wanted to make sure there's not any follow up comments that members may like to make. Member Stevens-Sollman: This is Jean. I will have to have a comment on hand on Obverse-04. It really also troubles me. And simply choose that. Well, maybe also recommend that maybe the grasp be changed on that phone. Chair Marks: Okay. Are there any other comments. Okay. Now, there's two ways, I believe, that we could proceed as far as our voting. Of course, there would be our traditional method where we would provide weighted rankings by scores one through three for all the various designs. However, I suspect there may be a more efficient way to do it on the phone, given what seems to be some fairly unanimity about the designs here. So, I'm going to ask the members here if you would be satisfied with a simple motion to indicate our recommendations for this medal? Member Bugeja: Gary. Michael Bugeja. I'm satisfied, Chair Marks: Is there anybody who would object to a simple motion? Member Uram: Gary, I think before asking just kind of as a preliminary question, I presume the motion would be to recommend the same design the tribe prefers, that would be Obverse-04 and Reverse-04. And under that presumption would there be a large just agreement of that intention? Chair Marks: Well, before we go down that road, if we want to do it I'm going to ask someone to put 27 that motion on the table. I just think that trying to do our normal weighted scoring on the phone is going to be rather awkward. And I suspect the results might be very close to what a simple motion might create. So -Member Olson: Gary -Member Uram: Gary, I second your motion? Chair Marks: Okay. Anyone else? Member Olson: Gary. Chair Marks: Yes. Member Olson: This is Michael. I think maybe for historical reasons we'd be veering off from a long history now of not assigning a number. Maybe we could have a motion to provide three votes for the one that we're all looking at. Just for historical purposes, this would be the only medal we did not assign a point value to. Chair Marks: Actually, that's not correct, Michael. I can't name the medal right now. But there was a meeting in the recent past where it was clear that we were all on the same page, if you will. And we took a motion. So, I don't mind whichever way we go on the motion. I heard somebody second a motion that I didn't know that I had made. Member Olson: I'm thinking that as a point of order we should vote that way. Chair Marks: Which way, Michael? Member Olson: That we should vote -- I seconded your motion. And under Roberts Rules, if there's no more further discussion on the motion we are to vote on it, or amend the motion. Chair Marks: Okay. I'll just clarify. I was not 28 aware I had made a motion. (Simultaneous speaking.) Member Jansen: Gary, this is Erik. I would make a motion that with respect to the complexity of the voting process by conference call, and in the interest of expediency, as well as the appearance of a large, apparent consensus, that we propose a motion for accepting a single obverse, reverse design, subject to minor artistic modifications that might want to be added by further motion. Chair Marks: Okay. Thank you, Erik. Now, I'm confused. Your motion didn't seem to indicate specific designs here. Are you doing a pre-motion? Member Jansen: I will add to that that we recommend Obverse-04 and Reverse-04, consistent with what I've heard in discussion and tribal preferences. But once again, reserving the right for artistic modifications in further motions. Chair Marks: Okay. Understood. Bugeja, I'm assuming you -- And, Mike Member Bugeja: And I'll second that. Chair Marks: -- second that. Okay. So for the record we have a motion by Mr. Jansen, seconded by Mr. Bugeja, to recommend Obverse-04 and Reverse-04 with recommendations that -- Help me out here, Erik. The changes -- Help me out, Erik. (Simultaneous speaking.) Member Jansen: Okay. I want to make sure we reserve the right to certain thoughts that have been put out there nominally, turning the pitch of the plane, correcting the canteen, the more realistic grasp of the phone. That we don't just have this motion unilaterally adopt Obverse-04 and Reverse-04 as shown. But reserve the right to add some artistic modifications. 29 Chair Marks: And when and how are we going to do that, Erik? Member Jansen: I would say the second motion by people who fell strongly -Chair Marks: Okay. Member Jansen: -- as you expressed. Chair Marks: Well I would suggest that we pass a clean motion here, just for the simplicity of everyone understanding it. Any member's free to put another motion forward after it. Would this be acceptable? Member Jansen: May I restate my motion simply? Chair Marks: Yes. Member Jansen: I move we vote as a block to accept Obverse-04 and Reverse-04, subject to further motions modifying certain artistic features. Chair Marks: Okay. All right. You've all heard the motion, and it has been seconded. So is there any further discussion before we go to vote the question? Member Wastweet: This is Heidi. Chair Marks: Go ahead. Member Wastweet: As I'm sitting here looking at the Reverse Number 04 and Reverse Number 05, I am swayed by the beautiful design on Number 05. And so before we go ahead and stamp our approval on Reverse Number 04, I would just like to pose a question to the tribe. Do they have an objection to Reverse Number 05? Or would they be happy with that one as well? Mr. Boivin: This is Gilbert. The reason we choose 04, between the Chairmans, Warren and I as liaisons, and we brought this work to David, was the 30 fact that we're trying to get back, our tribe is trying to get back into tribal history, where a lot of our Menominees are speaking our language now. And we're trying to get back to the clans. The reason why the clans were there in our ancestry, and that current members at this time were a part of. And were all brought down from the ancestry and what clan you're -Because we've got a very large tribe. We got a tribe of over 8,000. And we did have five clans at the time. And what clans that came from, what families came from what clan. So that's the reason why we wanted the clans involved with this medal. Member Wastweet: input. Okay. Thank you for your Chair Marks: Okay. Thank you, Heidi. Member Stevens-Sollman: This is Jeanne. Just to add to Heidi's comment. I think if we do both of the tribe's preferences, which I think are very good. I mean, I like them very much. But I think to mention that Reverse-05 is something that our committee is always looking for in terms of something contemporary, something powerful. And I think number Reverse-05 is just that. Unfortunately it doesn't give the clans as the Nation wants it. So I think if we can vote on Obverse-04 and Reverse-04, but also, send a message to our artists that, you know, this is a very powerful design also. And we'd like to see more like that. Thank you. Chair Marks: I agree. I agree very much, Jeanne. Okay. Is there any other comment to be made on the motion? All those in favor -- Or actually, I'm going to call roll, just so we're clear. Michael Bugeja. Michael? Member Bugeja: Aye, Aye. 31 Chair Marks: Robert Hoge. Member Hoge: Aye. Chair Marks: Erik Jansen. Member Jansen: Aye. Chair Marks: Gary Marks, the Chair, votes aye. Michael Moran. Member Moran: Aye. Chair Marks: Mike Olson. Member Olson: Aye. Chair Marks: Michael Ross. Member Ross: Aye. Chair Marks: Jeanne Stevens-Sollman. Member Stevens-Sollman: Aye. Chair Marks: Tom Uram. Member Uram: Aye. Chair Marks: Heidi Wastweet. Member Wastweet: Aye. Chair Marks: The motion is unanimous, ten to zero, motion carries. Are there any subsequent motions to be considered? Member Moran: Gary, this is Mike Moran. I'd like to make a motion that we substitute the wolf with the mouth closed from the third reverse, in accordance with the tribe's wishes, in to the fourth reverse. Chair Marks: Okay. Member Moran: And if we evaluate the positioning of the canteen and the hand of the, right hand or left hand of the soldier that holds the phone on the 32 Number 04 Obverse. Chair Marks: I'm writing this all down. Just a moment. Okay. And what Mike was referring to is that there is a letter provided by the tribal chairmen indicating a preference to switch the wolf's image. So that is the reason the first part of his motion. So I just mention that to clarify the record. Is there a second on that motion? Member Jansen: Second, Erik. Chair Marks: Thank you, Erik. It's been moved and seconded. Is there any discussion on the motion? Mr. Boivin: Yes, this is Gilbert for the Menominee tribe. We had, when I talked to Tasha Caldwell who sent that letter, we told her we was having the mouth closed like the picture in Obverse-03. We didn't want the picture changed, the picture's fine as is, with it just closed. Ms. Stafford: And I would just add, Mr. Chairman, that that change has been made. In fact, the people here in D.C. are seeing the revised version with the mouth closed. So that has been effected. Chair Marks: Okay. Well I think we can remedy this simply by asking Mr. Moran if he would amend his motion to just simply have the mouth of the wolf closed. Member Moran: Absolutely. Chair Marks: Okay. And, Erik, as the second do you accept that change? Member Jansen: I accept that change. Chair Marks: Okay. Is there any further discussion on this motion? Okay. We'll go through the roll. Michael Bugeja. Member Bugeja: Aye, Aye. Chair Marks: Robert Hoge. 33 Member Hoge: Aye. Chair Marks: Erik Jansen. Member Jansen: Aye. Chair Marks: Gary Marks, the Chair, votes aye. Michael Moran. Member Moran: Aye. Chair Marks: Mike Olson. Member Olson: Aye. Chair Marks: Michael Ross. Member Ross: Aye. Chair Marks: Jeanne Stevens-Sollman. Member Stevens-Sollman: Aye. Chair Marks: Tom Uram. Member Uram: Aye. Chair Marks: Heidi Wastweet. Member Wastweet: Aye. Chair Marks: The motion carries ten to zero. Are there any further motions? Member Moran: Mike Moran. I've got one more Gary. This is Chair Marks: Go ahead. Member Moran: I move that the committee give an honorable mention to Reverse Number 05 for its artistic merits. Chair Marks: I'll second that. Is there any discussion on that motion? Okay, then I will go through the roll call again but I'll go in reverse. Heidi Wastweet? 34 Member Wastweet: Aye. Chair Marks: Tom Uram? Member Uram: Aye. Chair Marks: Jeanne Stevens-Sollman? Member Stevens-Sollman: Aye. Chair Marks: Michael Ross? Member Ross: Aye. Chair Marks: Mike Olson? Member Olson: Aye. Chair Marks: Michael Moran? Member Moran: Aye. Chair Marks: Gary Marks the chair votes aye. Erik Jansen? Member Jansen: Aye. Chair Marks: Robert Hoge? Member Hoge: Aye. Chair Marks: Michael Bugeja? Member Bugeja: Aye. Chair Marks: That motion also carries unanimously, ten yea and zero nay. Are there any other motions? Okay, well, I believe that concludes our review and discussion on the Menominee Code Talker Recognition Medal. I want to thank the members of the Menominee Nation who joined us for our discussion here today, and before we move on I just wanted to give our guests one last chance to make any comments that they might be interested in making. 35 Mr. Warren: This is Warren from Menominee. I'd like to thank you guys for everything that you put into this for us, and such a short notice. We're kind of under the gun here for a little bit, but I think you guys did a great job in the design of this, what we give you to come up with. Thank you. Mr. Grignon: David Grignon from the Menominee Tribe too. I'd like to thank you for listening to us. And this is a very good depiction of our clans and sturgeon and also Menominee language on there that's very appropriate to us. Thank you. Chair Marks: Thank you very much, gentlemen. I think I speak for the entire community when I say it sure is an honor for us to work on your medal as well as all the other tribes and nations that we've worked on. It's going to be a phenomenal collection and set of medals when they're all done and then presented to the various tribes and nations. So thank you again for your participation and for helping us understand the importance of various aspects of this medal for you. So with that it's time for us to move to the next item on our agenda, and that is our discussion on the Platinum Program Themes for 2015 and Beyond. And at this point I'll ask April if she's ready to provide her report to us. Ms. Stafford: Yes, sir. Actually I'm going to turn that over to Greg Hafner who is a program manager here at the United States Mint in the Precious Metals Group. And we may also have on the phone Jack Szczerban. Jack, are you with us? No, not yet, but Jack may join us. So Greg, do you want to walk through the presentation? Discuss Platinum Program Themes (2015 and Beyond) Mr. Hafner: Sure. Good afternoon everyone. The 36 purpose of this presentation is platinum coins. Since the program began in 1998, we've had series, multi-year series of designs on the coins. Our current program is the Preamble to the Constitution, six-year design series. It comes with conclusion next year. So we need to start looking at what we need to do beginning in 2015 and going forward, so a little bit of the background. Again, we began issuing these coins in 1997, and Secretary is authorized to issue the bullion and proof coins in accordance with specifications, designs, varieties -- I'm not going to read that whole thing. You can see it there. But that gives us the authority to choose various designs for the coins. Since the inception of the program about 317,000 coins. The last year we produced a bullion coin was in 2008, and we plan on introducing that coin next year in 2014. Next slide. So this slide here shows the platinum proof coin sales, 1997 to 2013. As you can see, 1997 was the strongest year in sales since the program began. That's not unusual when we put out a new coin. For instance, in 2006 we put out the American Buffalo gold proof coin, 24-carat, brand new coin. We sold almost 250,000 coins that year, and now we're down to about 20,000 to 25,000 coins a year. Several reasons for the decline in sales. Number one is, you know, as the series wears on people may become less and less interested, depending on the designs, and the second reason -- if you could flip that April -- is you can see as sales decline as prices have gone up. So price certainly affects behavior of sales of our customers. Ms. Stafford: Can I interrupt really quickly, Greg? Mr. Hafner: Sure. Ms. Stafford: The committee members are on the 37 phone so they can't actually see which slides we're flipping to, but they do have the presentation. Mr. Hafner: Oh, okay. Ms. Stafford: So if you can refer to slides by their numbers they may be able to follow along with us a little better. Mr. Hafner: Okay. Well, Slide 3 addressed the annual sales figures and Slide 4 addressed the average platinum spot price for each of the years since the beginning of the program. So taking a look at these numbers on Page 3, we were trying to think of what we can do to, you know, try to kick start this program and, you know, give something that our customers truly want in terms of design. What we decided to do was to go out and ask the customers, to do some consumer research. Internally we got together and held several focus groups in-house just to come up with some designs. And once we got some designs and we prioritized them we went out and did research with those designs and -Ms. Stafford: You mean design ideas, concepts? Mr. Hafner: Yes, design concepts, and we'll be discussing those here shortly. Just moving on to Slide Number 5, design history. Designs on the obverse of the platinum proof and bullion coins have remained the same from year to year, featuring a rendering of Lady Liberty from the Statue of Liberty. That obverse design has never changed. The design on the reverse of the platinum proof coin has changed regularly to help increase the collectability of these numismatic coins and to reflect the series, or the current series. So going into Slide Number 6, it's our current series is the Preamble of the Constitution. It explores the 38 core concepts of American democracy by highlighting the six principles. And I'm not going to read them off, but there they are right there. And as you can see, the program comes to a conclusion in 2014. So potential new design concepts, which would be Page Number 7, some of the issues we have, again current series ends with the 2014 coin, what should we offer in 2015? And while we're thinking of maybe a next new series, keeping in the back of our mind that 2017 marks the 20th anniversary of the program. The next slide, which I don't see has a number on it, is the research chart. And this is where we went out and presented some proposed design themes to some of our customers. As you look over on the left, the design themes we ponied up were classic eagle designs, classic coin designs, emblems of freedom, documents of independence and freedom, and Revolutionary War sites. We chose three different groups of customers to run this by. The first group, 1,500 random customers taken from our database at random no matter what they bought. The second group is platinum purchasers, 1,500 from the past five years. And the third group was 1,500 of our gold purchasers. And what we did is we went out, this was a web survey, and we proposed several questions to them. If you look at that chart under all customers, classic eagle designs, we've got a 31 percent and a 50 percent. I'd just like to explain to you what those numbers mean. The first question we asked our customers is to rate each of those five designs on a one to five scale, where one is extremely unappealing and five is highly appealing. And the numbers shown there for this is the percent highly appealing which is the percent rating of each theme that had a four or a 39 five. So as you can see, the classic eagle design, all customers rated at 50 percent as being highly appealing. The platinum customers, next group over, came in 60 percent, and past year gold purchasers were 57. And then the second question which is the dark blue, it's 31 percent under all customers and the classic eagle designs, the respondents are asked which of the five themes are most appealing to them and they were forced to only choose one. So all customers, 31 percent of all customers chose classic eagle designs as their top choice. Past fiveyear purchasers it was 34 percent, and past year gold purchasers was 34 percent. So I think as we can see from this chart, the first two proposed themes, classic eagle design and classic coin design are really popular with our customers. We also got some other feedback from the customers, and for suggestions for some other themes. We've put them down below there just anecdotally to see what other customers were saying. American wildlife or space program, Civil War, famous American landmarks, et cetera. Is there any question on this slide before we move on? Chair Marks: This is Gary Marks. Well, first, I have plenty to say about this, but just on a technical basis why did you do in the past year gold purchasers when we're talking about platinum? Mr. Hafner: I'd have to get the design research group in here. But they just wanted a mix of various segments of our customers to see who would be interested in what. Hopefully a gold purchaser who has not been buying platinum, maybe it's because they didn't think the design series was palatable, but they do seem to like these. So we just wanted their feedback where they might switch over. 40 Mr. Szczerban: This is Jack Szczerban. The overall universe of platinum purchasers is understandably fairly low, so without that, gold purchasers, we would not have a -(Simultaneous speaking.) Mr. Szczerban: Gold purchasers, the pricing is about the same as platinum so we thought they had a good propensity to switch over to platinum if they liked the design. Member Jansen: This is Erik. So in each of the three categories, all customers, platinum and gold, how many solicitations were made in each of the three categories and how many responses did you get as a percentage of or whatever? In other words, how big is the true response rate in these three categories? Mr. Hafner: They went out to 1,500 customers. It was a random web survey. I'm not sure how many of those 1,500 replied or does this represent 1,500 responses. I'll have to confirm that. Member Jansen: Is it 1,500 in the all customers or 1,500 kind of in all three? Because I'm trying to understand, because my own experience on these things although web responses are certainly higher than direct mail responses, but those typically are single-digit percentage responders because out of 1,500 turnaround docs in the mail you get 30 back. Mr. Szczerban: No, we can certainly find out. And we don't have anyone from our research team that was intimately involved in putting the research vehicle together, but we could certainly get more information on how that was conducted for you if that's -Member Jansen: I only asked because I'm not quite sure where you're going to go with the conclusions you draw from this data. But if the goal is to increase the volume of the platinum bullion series, I think one has to make sure one stands on a firm 41 foundation before one starts marching off on a conclusions-driven plan. Ms. Stafford: I think it would be important for us to get those numbers. But just having worked with the research team, I can tell you that the contractor with whom we work, they do not provide us the analysis unless they have gotten responses that they feel are statistically representative and carry the weight from which decisions can be made. In fact, in the past we've had to suspend research or go back out for more research because we didn't get the responses that would be required in that vein. So we can confirm that. Member Jansen: I'd sure love to see those numbers because I don't know where you're going to go with this. But I think it's important to understand whether we have compelling or less than compelling kind of feedback here. Mr. Szczerban: This is Jack again. It's certainly consistent with what we've heard from our customers over the past many, many years when talking about what types of designs would customers like to see on coins. And bringing back all the classic designs from American coinage history has always been, you know, top of the list, and which is why the American buffalo bullion and proof coin program, you know, has been so successful. And certainly in American eagle silver and American eagle gold it features a modified version of the same kind and $20 gold piece has been very successful. So I think this is sort of consistent with what we've heard from customers. As you notice on that chart, classic coin designs came in a very close second to the classic eagle designs. Those are almost interchangeable. And so key from our proposed strategic direction since this is American eagle program we're pursuing, you know, designs that would feature eagles on the back of them. 42 Member Jansen: And not to belabor the statistical research here, but I know there is one important attribute of the effort of the Mint and that is to expand the customer base, which at its first order of magnitude other than buying power that typically older versus younger collectors might have. Age is already centered in the question, how do we engage the coming generation, generations with equal gusto as historical ones have done? And it would be curious to cut this data by age as well, because the age might also impact their perception, value, or part of their awareness of what classic means. Chair Marks: Thank you Erik. This is Gary. I guess I've got a couple of questions about this survey. And my questions probably have more to do with questions that weren't asked in the survey. It seems, Greg, from your Slide Number 5 that it's just simply saying that the Statue of Liberty, Lady Liberty continues on as in obverse image, is that correct? And why wouldn't we want to consider a renewing of the obverse at the same time? Member Jansen: Very good question. Mr. Hafner: Hey Jack, can you take that? Mr. Szczerban: Well, certainly the obverse and the reverse, the bullion coin you want it to remain the same because that's really the nature of a bullion coin, is you really don't want to be changing designs and trying to turn a bullion coin into a collectable coin. I mean some Mints, like the Perth Mint that may be, you know, fourth tier in terms of market share may seek to do that to try and gain market share. But your primary brands like Canada and the U.S. always, and krugerand for that matter, always maintain the same design for obverse and reverse on bullion coins going forward. 43 Proofed coins, certainly we have a lot more flexibility in that regard. And as I recall from our last meeting on this, this was something that came up, we certainly have the flexibility to change both obverse and reverse, and what you'll see in the next couple of slides when we start talking about what we are exploring, doing for the 20th anniversary, that for 2017 we are actually proposing a design change for both obverse and reverse. I think our general feeling has been to maintain some sort of consistency with the program by keeping the Lady Liberty obverse the same and then just focusing on, you know, a compelling design change on the reverse just so we have some sort of consistency to the branding of the coin. But certainly, you know, design change to obverse and reverse, nothing legislatively prevents us from doing that and we could certainly do that going forward. Chair Marks: Okay. Well, I just heard all the assumptions about the obverse that you make internally. My question is, if you're want to know what your customers think why wouldn't you ask them about the obverse too? I get all the sales thing, but as design experts that's not our concern. We're collectors, we're folks that really get into the designs. Why wouldn't you ask your customers about the obverse? Mr. Szczerban: Well, I think the only reason we didn't is because heretofore the only thing that's changed in the proof, the numismatic version of the platinum coin, has been the reverse. So we just focused on, well, what would you like to see on the reverse? We just assumed that the obverse would remain the same. Changing the obverse was not really something we really looked at. Chair Marks: Okay. Well, I would suggest in the future that when we go out to ask our customers about the designs maybe we consider some of our 44 assumptions that we've always made. The way we've always done it is not necessarily the way we always should do it. And we don't know what the customers think about the obverse, and I guess that's my point on that. And as far as questions not asked, I guess I have some on the reverse too. And that is, here again I'm disappointed that we seem to be going back in time. We all use classic designs again and again, celebrate past glories. So we ask about classic eagle designs, we ask about classic coin designs. We did a report back in 2011, our coin for excellence in design at the United States Mint. And at that time we acknowledged all those past successes, the past glories from the great renaissance in coin design at the beginning of the 20th century. Those are all good things. We went back in 2009 and we redid the SaintGaudens, the gold bullion coin. We've done the buffalo nickel on bullion. We've done it on a commemorative silver dollar. There comes a point I would suggest that we have great artists who have inspirations to provide to us, and as a 30-year collector, 30-plus year collector, I would love to see modern interpretations of Liberty, modern interpretations of the American eagle, modern interpretations of things American, whatever they might be. So I'm saying I'm disappointed that you didn't have a question on here about new modern designs, modern eagle interpretations. I hate to see us going back, bypassing our artists and going back to what artists who are long dead and gone accomplished. I just think it gets tired, it gets stale. And I'm sorry to be so forceful about this, but I think this is the wrong theme direction for our committee to be agreeing with. So I have no idea what the rest of the committee thinks about what I just put on the table here, but I really think that this direction is wrong-headed. 45 Member Jansen: I would concur with what Gary just said -- this is Erik -- in its entirety. And that is, this committee has put forth the thought of raising the bar on artistic, creative, topical content, expanding the degrees of freedom for new ideas, and I think our retreating to the older designs, quite frankly, devalues the very features that socially we seem to be promoting called innovation and creativity. And I think moving bullion for fear of something better to the past is quite honestly devaluing it. Mr. Szczerban: This is Jack again. Let me just remind you that over the past few years we have, you know, used allegorical, if you will, representations of design. We have tried going that route. And I'm not saying those designs have not been popular and that's why our sales have been declining, I think our declining sales are undeniably more a function of the price of platinum. But I think in an effort to try and turn our sales around, I think that was part of the thought process was, well, we've sort of gone the allegorical modern design. They're certainly beautiful designs, but our sales still seem to be stagnating. Maybe we should go back to some of these classic designs and see if that's something that would jump start sales. I think that was the general thought. Because if you look at some of the designs that represent the Preamble series, I mean certainly, you know, they're allegorical, and I know what you're saying. I mean there was a talk about a second renaissance, a second golden era, if you will, of modern coin design. And if I hear you, what you're saying is, well, what happened to that effort? It seems like you started with Saint-Gaudens and Roosevelt with that effort and now that's kind of where we want to be now, but you seem to be harking back to old designs again, and that's a valid 46 point. But I think again it was just for us to try and do something with the high price of platinum that would appeal to the customers, and what we've heard is these classic coin designs seem to be popular with them. So that was really the motivation for us. Member Olson: This is Mike Olson. I agree with pretty much everything that Gary has said. I think part of the reason that you're not selling these coins is certainly the price, but I don't believe you're offering them as fractional options either which would make these designs more accessible to a wider volume. And going backwards and rehashing 150, 175 year old designs is not the way, in my opinion, to go. I also share Gary's sentiments about the obverse, which at this point really should be up for discussion. Not that there's anything wrong with the obverse design, but if you're trying to shake things up all options should be on the table. And to consider that obverse design, which I would consider to be somewhat modern, and placing the reverse of a Morgan dollar on the back or even a Gobrecht silver dollar reverse, that is a disjointed coin that makes no sense. And it would certainly not be appealing to a collector. I think you need to take a look at all options and come up with something new. I see on here, just a matter of personal preference, down in these comments below it appears you've got several folks that mentioned the space program. I believe there's only been a couple of coins produced that even allude to that great achievement, which in a large part is solely an American achievement as far as landing astronauts on the moon and what has happened since. That is something that I think should be considered but to not to lose focus on that one subject getting 47 back to the fact that we need some fresh designs and fresh thought. That's all. Member Jansen: This is Erik again. And I would like to second Mike Olson's comments on the fractional issue. If the price of the underlying rare metal is cited as an issue, then I guess I find it surprising that the simple question was not asked, would demand rise, would you purchase Mr. or Mrs. Customer, the half, the quarter, the tenth? And I've actually had discussions with three producers internationally of bullion who all believe there's an opportunity for a 1/20th ounce. They of course denominate it in grams. But the point being the demand for fractional bullion, whereas it might not consume ounces as rapidly, it certainly builds franchise more durably, and franchise being denominated as the confidence in the sovereign assay as well as the premium, the spot that they trade in the aftermarket, which I think are both positives that this country's bullion coinage would want to attract. But I think Mike Olson has hit the business dynamic square on the head saying bring back 2008, bring back fractional. Chair Marks: This is Gary. Let me get to you, Michael, in just a second. I just wanted to very quickly state that the platinum series from the point of view of creative successes is one of the best things the U.S. Mint has going for it. If you look at just the last, well, this Preamble program, I think some of the best work that the Mint has done, and there have been other examples, and clearly the 9/11 medals, the Star Spangled Banner dollar coin, the Girl Scouts, there have been several successes that the Mint has been putting together. If you look at the platinum program, there's the 2009 More Perfect Union, a beautiful design. The 2011 Ensure Domestic Tranquility, beautiful design. The 2013, which is out right now, promoting the 48 general welfare. Those are modern, beautiful successes. I sure would be very saddened to see us pitch in the towel now and say, well, let's go and let's do a sure thing for sales, at least we think that's a sure thing, and revert back to the early 20th century, or before that even. If we're talking about classics, well, gosh, that takes us back to maybe the later part of the 18th century when we started making coins and the entire 19th century. Those are they're ancient. They're beautiful, yes, but they're ancient. And all the rest of our collectors have examples of those in our collections now. I'll just renew my call that we need to unleash our artists, give them the opportunities in this modern day and age to give us renderings that can also be those future successes that you've already seen in the last few years. It's time to continue this process. It's time to continue to promote creativity in a modern sense. So I would just beg of the Mint not to revert to the old. It's time for new. So Michael Moran? Member Moran: Okay. A few thoughts here. First of all, we seem to be headed toward a redo of the Saint-Gaudens double eagle in 2017. As the number one fan of Saint-Gaudens on the committee as well as an expert of Saint-Gaudens, I'm going to say please don't. You can't get it done on the smaller tondo and you won't get the reverse, the relief from the reverse that you really need to do tests to the design. Now I get back to the nuts and bolts of this thing. I agree that we need to go with the smaller fractions if we're going to make this a universally desired coin within the collecting community. The problem we have of here of practicality, and Don Everhart, I'm sure, will second this, is whatever design we put on 49 the one-ounce platinum coin has to be scalable or we'll have a disaster on a much smaller coin. We certainly have had that with the gold bullion coins. When the Saint-Gaudens original design was intended it was going to be on the eagle, half eagle and quarter eagle. They actually did. They halfeagled before they went with the design. It was a disaster. So if you're going to go to the smaller coins, smaller units I should say, the bullion coin, you're going to have to go with a smaller design or a simpler design on a smaller tondo because your larger design will not be scaled. Now then, in terms of where we go with this thing, I think back over the two, almost two and a half years I've been on the committee, and I can remember, well, not specifically, at least two or maybe three eagle designs that the committee just oohed and aahed over but didn't choose because of one or another various reasons. They were inappropriate to the particular design theme. They're there in the minutes. And as a result, I'm going to basically come around and say the same thing that Gary and Erik have said. There are designs out there, and if you want to stick with a classic eagle then, but don't make it a classic eagle from an old coin. That just, it isn't going to get it done. And I really think it sells both our in-house engravers as well as our AIP people short by not giving them an opportunity to come with the designs for the reverse. I really think that we need to go back. I think we oversimplified the study. I don't know. There are funds to go back in and redo it, but I think that we really need to take a look at themes that are being put forth to the collecting community as to what possibly can be done. And I think we oversimplified with them and I think that we got a simple result. 50 Having said all that I'll shoot myself in the foot. If you're going to insist on doing old coins and old themes, which I hope you don't, then you need to do one consistent theme across all and that would be celebrate the reverses of the silver dollar. That way you're not jumping from theme to theme as well as from a small tondo to a large tondo. But I'll say that only because you insist on pressing forward. I really think you need to go back to the drawing boards on this one and give it fresh thought and include your AIP people and your engravers. Chair Marks: Other committee members? Did I hear you Tom? Tom? Member Uram: Yes, I just wanted to mention also, as far as themes go and so forth as we're going out forward on this, is that next year will be the 150th anniversary of our nation's motto. And it would be nice to see, particularly if we're doing something as it relates to the platinum theme, you know, that was obviously done in 1864 and then in 1959, made it official for everything. But I think celebrating our national motto might be an idea for the 150th year next year. Member Moran: Tom, that would blow up in our face. It really would. Member Uram: It's not expressing God or anything, it's just, get it as a motto, and I'm just throwing it out there. Member Moran: I know where you're coming from and I appreciate it. By the way this is Mike Moran. But there are enough people out there that it would have an element of controversy associated with it. And I think that's the last thing the platinum program needs. Chair Marks: Tom, you got anything else that you want to bring up? 51 Member Uram: No, I think I did enough. Chair Marks: All right. Is there another member -Member Moran: Send me an email, Tom. Member Uram: No problem, Mike. Chair Marks: Other members? Member Wastweet: Heidi. Chair Marks: Yes, Heidi, go ahead. Member Wastweet: Thank you. I pretty much agree with everything that's been said so far. I do like that factual idea along with the comment about the NASA idea. I think that sounds like a great commemorative program, not necessarily a bullion program. I mean, you certainly want to 3:08:40 away from any bubble type of design. So it's not seen by any 3:08:49. And we've been pushing all through our committee for more modern designs and we've been getting some achievement on that and we have a lot of opportunities for modern designs. I think that we could possibly do an historic series but let's not rehash what's already been there. There are archives within the Mint, are some wonderful designs in the past by our celebrated engravers that were never used. And I think if the collectors had an opportunity to see those that would be of more interest than the classic designs that have already been released and are well known. So let's dig through the archives and find maybe there's some treasures in there of historic value that could be brought to life. And I think the collectors might have much more interest in that. And even though I love the modern designs we don't have to have everything modern. We can balance that out with the historical images. And if we do so, if we're basing these designs on historic 52 lines, then let's also highlight the sculptors that are doing the interpreting of these old designs. And let's put a spotlight on the talent that we have. Talk about the original historical designers, what they've done and how the new designers are interpreting that. Let's make that a full focus and highlight what we have -- make them the rock stars -Ultimately we could, instead of going back to the past, take this -- like the eagle idea. Let's do a series with modern eagles and not just contemporary, but let's really push the designers to get very, very creative and very modern with the eagle. Mr. Szczerban: This is Jack again. Is it appropriate to potentially abandon this need to come up with a theme like we've been doing these multi-year series with themes, and it's best to just go to the AIP artists and the engravers and say, you know, the platinum coin is the pinnacle of what the U.S. Mint has to offer. We want you to just, you know, give us a design that's befitting this magnificent coin, you know, pull out all the stops. And we're not telling you what the theme should be, but obviously the theme of the coin is the American eagle, and just give them more free rein versus trying to tell them, look, this is a multi-year series of the symbols of American democracy. Leave it a little bit more wide open. Is that something that's appropriate? Member Wastweet: Absolutely. And having the eagle as a theme is part of the theme, but artists don't need to be directed any more than that. And if you are so bold as to open it up to be completely open, then the theme only becomes a marketing issue. The artist would be delighted to be completely set free. Member Jansen: This is Erik again. And I think Heidi's words need to be really carried with the weight that her experience brings forth here. She's been involved with the bullion producers, that is, 53 other than the U.S. Mint much of her career. And when she makes the comment that it's a marketing issue, boy, is that, you know, I think you're hearing the words of an expert from a marketing perspective, not just an artist in that regard. If Dick were in this room I would advance the question to him saying, Dick, tell us what your goals are here as the director. Are you trying to produce more revenue from the West Point secure facility? Are you trying to further the market share of the U.S. sovereign bullion for political or other reasons? What is your goal? Because those goals speak to very different pursuits here. If the goals are to pursue volume and that is, a standard, kind of commercial production efficiency out of the existing West Point facility which has notably doubled, tripled, quadrupled or maybe more if you had valued throughput, then the answer is minority coins. If the answer is no, we want to ship as much bullion, as many ounces as possible, you know then the answer is multiple designs and indicate a year, so that those that are buying are buying more because they don't dare not miss the more than face value rarity design of that given year. So I think where we're kind of treating it as a onedimensional consumer preference question and plan here, I really think it begs the bigger question of what is the goal. Chair Marks: Okay, thank you, Erik. Are there other members who want to make some comments? Member Olson: Yes, this is Mike Olson. Erik made some very intelligent comments there, I want to just expand on them slightly. You've got to take a look at what is the total market for these coins. Who's buying them? Is it the bullion investor or is the coin collector? 54 And that's something that really needs to be analyzed, because especially if fractional is not in the equation, those folks are some pretty high end collectors if they're just buying the bullion. So maybe there's a certain element of people that are buying these coins that could care less what the design is, and there's another element that does care or cares slightly, and that factors into the purchase decision. But I think some analysis needs to go into that question if it's not already been done. Mr. Szczerban: This is Jack again. Keep in mind that the bullion coins as has been discussed earlier is being reintroduced in 2014. So we will have two platinum products. One geared, targeted toward the investor of the bullion product and one for the collector with the proof. Now because of the relatively low mintage numbers of the proof, I would imagine there are some folks that are buying the proof even before -- the numbers getting lower and lower. And I think that's been the problem with the fractional, the whole fractional market on this. We look at our sales of the gold bullion, gold proof rather, and sales of the fractional coins have been fairly small. And I think that was the concern is, well, if you're only selling a few thousand coins per year of the quarter or half-ounce size coins, is that worth doing? You know, if you can't sell at least 100,000 units, let's say, of a quarter or half-ounce is it worth reintroducing? So I know that's something that's stayed on the Mint, the history of the fractional, and certainly with the platinum fractionals, those sales numbers got very low. Member Jansen: This is Erik. On the fractional question, I think the issue there is the pricing. 55 Because your fractional buyer is your more spot price oriented buyer. And when we add markups that the Mint characteristically does, I think you just steer the fractional buyer to your bullion or your producer who's producing it spot-plus for all their fractional buys. Chair Marks: Folks, this is Gary. I think we've had some good discussion here about sales aspects of this program. I'm going to remind us all that our charge as a committee is to talk about designs and the item on our agenda is about the themes. And I note that the two go hand in hand, I get that. But in the interest of bringing our meeting to a close, I want to ask those members who have not had a chance yet to speak if they might want to contribute something to this discussion on design themes. Bob, are you out there? Member Hoge: I'm here, yes. Chair Marks: Any comment you might have? Member Hoge: No, I'm just pondering this. And it's kind of difficult to make a decision, if that's what's called for, between the kinds of modern designs that we as a committee have tried to do, to call for and to hope to see in various Mint productions, and to weigh that against the classic designs which we know are popular with many collectors that we have in terms of preferences in the study. I kind of like the idea, frankly, of seeing the old designs coming back because they hearken back to our heritage in numismatics. On the other hand it's nice to think in terms of new, fresh ideas and the potentiality of people getting some new doses of numismatics, a new feel for it today. I think a number of countries have been successful trying to incorporate older designs into coinages, you know, with some of the issues of Israel, for instance, or Greece or Italy, and they've taken very historical pieces and managed to incorporate them 56 into their coinages. I think the Chinese have been pretty successful in developing many multiple bullion designs, their bullion proof issues. And they tend to be somewhat traditional. The period they represent with the Chinese art. Let's think of the panel series, for instance. So I don't know. I have mixed feelings about these things. I don't know whether it's our position to make a determination on which way we think the Mint should go or not. On the other hand, while I appreciate the thinking that Erik has demonstrated, I also have a problem with this idea of the Mint making multiple designs at any one time simply to try to milk collectors. Because that's sometimes what it amounts to, it seems to me, and it makes a bad impression with many collectors. Oh, the Mint is just trying to make its profit off the desires of their loyal constituency to try to purchase all the different items that keep coming out. And I think that this can be sometimes a problem. The idea of a bullion coin that is issued without a lot of changes is very traditional too. You think back to great classical coins of the past. They were very popular in circulation for bullion content in multiple circulating regions, but they didn't change their designs, which was part of their success. So there are many things to consider in this and I don't have all the answers. Chair Marks: Thank you, Bob. I might just mention, as I'm listening on the phone here, is someone, it sounds like they're moving out of wherever they are. There's been quite a ruckus on the phone. So I just ask if we could maybe not do that. That would be really helpful to listening to each person here. We still haven't heard from Michael Bugeja. Are you still on Michael? 57 Mr. Weinman: This is Greg Weinman. that he had to get off. Chair Marks: line? He texted Okay, Michael Ross, are you on the Member Ross: I am. I'm not sure if I have a strong opinion on this subject. And I heard some discussion of possible themes, but I didn't know that we were going to be asked that and that's something I'd like to give a lot of thought to. Chair Marks: All right, thank you. Jeanne? Member Stevens-Sollman: Yes. Chair Marks: Jeanne, can you talk about some thoughts here? Member Stevens-Sollman: You know, I agree with what everyone is saying. However, I do agree with you Gary when you say that our charge is to discuss designs, and I just don't feel that this conversation has really given us as a committee a time to talk about designs. I would like to see us as a Mint to go forward in just a little more contemporary work in terms of, let's present it out there in the world to see what we're up against. And our Mint, in my opinion we are not on the cutting edge of what's going on, and by repeating old classic designs which are beautiful, they are beautiful, that doesn't mean we can't make new beautiful designs. And I feel like by repeating things we're sort of just beating ourselves back into this hole and we're not moving forward. I think we need to go forward and present some great stuff to collectors, to investors. And if it's good it will move. What we're doing is not giving them good, really great stuff. If we did something beautiful, beautiful will go someplace. And repeating beauty, as Michael Olson says, he 58 already has, he has these coins in his collection. We do need to go forward, and I feel we're on the edge there. We've done a few beautiful things. You know, the Girl Scout coins, I think we had an opportunity to do something terrific today with the rebirth of our code talker coin but, you know, people are just so hesitant to do that. You know what, we just have to jump off the board and go swimming and get something better. Chair Marks: Thank you Jeanne. Mr. Weinman: Gary, this is Greg Weinman. I just want to clarify. For everybody, the question that seems to come up, yes, this is really the CCAC's charge, that your charge is to advise on themes and designs. And, in fact, obviously this program predates the CCAC so the earlier programs would have been done without the benefit of the CCAC's advice. But historically, when the CCAC came into existence in 2003, one of the very first agenda items was talking about platinum themes and, in fact, the CCAC specifically advised on some of the most recent programs. So that is why we're bringing it before you right now. Chair Marks: Yes, it's very much been in our charge, and thank you, Greg, for clarifying that. So we are approaching our scheduled conclusion of our meeting so I'd like to keep as close to that as possible. So I just want to make sure that everyone feels like each member has said what they wanted to say, and as soon as we can verify that then we're going to conclude the meeting. It's my opinion at this point that there's probably not one single motion that would be of benefit to the Mint here. I think the collective message that we've all imparted by voice is our direction, and if you think I'm wrong let me know. 59 But I want to give folks a quick chance here and if you want to say something please keep it brief. Just a quick chance to include our thoughts here. So anybody who would like to do that. Member Stevens-Sollman: Could we come back and revisit this in another meeting? Chair Marks: Well, I think that's on our schedule sheet for the minutes of the -- 2014 is still part of the existing Preamble Program. How much time, folks, do you need? Ms. Stafford: I think we'd have to take that conversation off line and maybe get back to the committee on that the next time we meet, if that's okay. Chair Marks: That would be great. That would be great. Anyone else? Okay, well, I'm going to add this in case we don't come back. In case we don't come back to this discussion, and I kind of hope we do, but in case we don't, I would just quickly say that my message is let's do something modern, let's do something new. If though in the event that the Mint decides that's not what they can do, that they need something more reliable for sales, then I'm going to say please don't do the classic designs from the pourings of the past. Follow Heidi's direction where we go into the archives and we find those outstanding designs that didn't get any play time, if you will. There are some great ones out there that dazzle the collectors. But here again, I only say that because, you know, in the event that the Mint decides they're not going to go modern, which I think is the way to go, I think that that would be a better direction to try to seek out some things that have not really been produced by the Mint yet, aren't well known designs. So does anyone else want to add anything? Member Hoge: This is Robert again. I would like to advocate to what you say, Gary. There are a lot of 60 very important past designs that we might wish to consider. This is something that the American Numismatic Society has recognized and we're trying to apply some original artist model, the unsuccessful aspirants to U.S. coin design. Now I'm not saying that these are better than anything we can come up with today, but they might well be intriguing or interesting and perhaps worth investigating. Chair Marks: Right. Okay. Thank you, Bob. Member Wastweet: I have one more quick note to add. If we do go back and do historic designs let's be sure that they're authentic and that we are using the original sculpt, not just the design. Well, I don't want to see replicas sculpted of classic coins. Keep the original artist's look. That's it. Adjourn Chair Marks: Thank you Heidi. This is your last chance, anyone? Okay, hearing none, it is now 1:28 and we are two minutes ahead of our scheduled agenda time and there being no further business our meeting is adjourned. Thank you everyone. (Whereupon, the meeting in the above-entitled matter was adjourned at 3:28 p.m.)