Treasure Hunt by Peter Rexford

Given the shape of my investments I can't ever claim to be a soothsayer. For most of us though, some things are obvious from the outset, and it's gratifying to see others eventually catch on to what you knew all along.

That happened the other evening while I was watching the news. A local station heavily promoted a story they had put together about the massive pitch to America to buy "Obama Commemorative Coins." What they covered was exactly what I had written about three months ago.

You've surely seen the ads touting a set of "Genuine U.S. coins plated in 24-karat gold emblazoned with full-color photos of President Obama." They were all the rage just after the inauguration. Now, with 100 days in office under his belt, even more similar coins commemorating that milestone are being hawked. The television story confirmed what I had suggested some time ago — the "coins" are virtually worthless other than their face value. Dealers they interviewed confirmed that they just couldn't pay more than the face value of the coin. Essentially, they are unsalable in a secondary market. Sadly, millions have purchased them and will be upset when and if they decide to sell.

In fairness, Obama is far from the first president to have his likeness plastered on commemorative items. It's been the case for centuries. One of the best examples is Abraham Lincoln. During his lifetime, after his death and continuing today, Lincoln's image has graced most everything.

In the new book, "Abraham Lincoln: The Image of His Greatness" (Whitman Publishing, 2009, Atlanta — www.whitmanbooks.com), author Fred Reed does an unbelievable job chronicling the myriad buttons, medals, posters, postcards, envelopes and broadsides on which Lincoln appeared while campaigning for the office of president. The 272-page work is filled with vintage photos and full-color images of everything from Lincoln coins and currency to cigar bands and maple syrup. And, of course, let's not forget Lincoln Logs and the Lincoln automobile itself.

Even more interesting is this little morsel. When you consider the billions of coins, $5 bills and postage stamps dedicated to Lincoln, he eclipses any other person in history in being immortalized.

It's even said that only Jesus and possibly Shakespeare eclipse Lincoln as the subjects of published books. That's nothing shy of astounding for a man reputed to be incredibly humble.

Augmenting the hundreds of photos, collectibles and mementos in the book is a narrative that is not only informative but also genuinely interesting. Much of it is in the form of a timeline dating from 1818 to 2009.

In just about a week, the number of Lincoln artifacts will grow by several billion more with the release of the second one-cent coin issued in 2009 celebrating the 200th year of his birth.

The new penny saluting "Honest Abe" showcases his "Formative Years" through the image of a young Lincoln taking a break from splitting rails as he sits on a log educating himself while reading a book. The depiction is accurate considering that historians frequently recount that the few times young Abe got in trouble were when he stopped his chores to read. That's unquestionably the kind of "trouble" today's parents would pray their kids would get into.

As evidenced by the prominent "CLV" initials emblazoned in the lower right of the coin, the image on the new penny was designed by Mint Sculptor-Engraver Charles Vickers. This will surely amuse serious collectors because of the tremendous controversy created in 1909, when original Lincoln penny designer Victor D. Brenner prominently included his "V.D.B." initials on the front of the coin. Those were quickly subordinated to a tiny position on the coin's reverse.

The new Lincoln penny can be ordered directly from the U.S. Mint but should also be appearing in cash drawers and pocket change in the near future. And, here's another prediction I fully expect to come true. Once the four-coin series of pennies is fully released toward the end of this year, some companies will invariably plate some in 24-karat gold and sell them in sets for a hefty premium. I know humans have a short memory, but remember the Barack Obama coins when you see the penny sets. Don't be fooled, lest disappointment is sure to follow. After all, a penny saved ...

Editor's Note: A JPEG visual of the new Lincoln penny has been sent with this column.

To find out more about Peter Rexford and to read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate Web page at www.creators.com.

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