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The United States issued over 50 different silver commemorative coins from 1892 through 1954 (142 counting issues from all mints), and fewer than 10 varieties of gold commemoratives from 1903 through 1926. Mintages were often minuscule—as little as about 3,000 for some 1938 issues—and yet prices are surprisingly low. The reason is simply the age old Law of Supply and Demand. Even though the supply is low, the demand from today’s collectors is also low. Will this change? Maybe. In the meantime collectors have the capability of acquiring high grade early commemoratives at seemingly bargain prices—and can enjoy assembling topical collections of Native Americans, historical figures, animals, ships, etc.