While I was walking around the 2024 FUN bourse, a fellow buttonholed me and asked if I would be interested in a 1945 Franklin Roosevelt inaugural medal in gold. I collect inaugural medals and knew that this was the most common such medal for the "older" era. Usually there are only three inaugural medals in gold. One is given to the president. A second is given to the vice president, and third one goes to the chairman of the inaugural committee. These pieces are virtually always impounded in museums, most of the respective president’s library. The 1945 medal was different. That year Franklin Roosevelt had ten gold medals struck. He gave them to various world leaders including Winston Churchhill, Joseph Stalin and the King of Saudi Arabia. One was also give, sold actually, the Director of the Mint, Nellie Tayloe Ross. The medal which was waved under my nose, not physically, was that piece. After that I heard nothing. The piece did show up this year at a StacksBowers auction It came with lots of documentation. It sold for $240,000. I have no idea how much higher the winning bidder might have gone. The 1945 medal is unique in the fact that it depicts Roosevelt as a very tired and careworn man. He would die in April following his fourth inauguration in January, a little less than three months into his term. The piece is not rare in bronze with a mintage of just over 3,500 pieces. The purchase of the gold medal probably was a once in a lifetime opportunity. Another gold medal will probably never become available, but you can't second guess what you never had. On another note, the rarest inaugural medal of all might turn out to be the Trump piece for his second term. Apparently they were "thrown in" as an extra in some goodie bags that were given to some supporters. They are very rare. They are also very unattractive. The design is really poor. It looks like a rush job that was done with very little imagination. It's odd but the Trump people never had an interest in selling inaugural medals. They have been consistent fundraisers for prior presidents to pay for the inaugural festivities.
I was going over the four or five options, depending on your point of view. None of them are cheap, and I have to admit that I have not followed the market, but here goes. In 1941, there were two FDR medals. The inaugural committee made 1,000 of these. After that one sold out unexpectedly, they made 2,000 of these. There is a small "2" at the top of the wreath to indicate that it was the second issue. Both of these medals used to sell for under $500. I don't know where they are now. It can't be much more. Here are the other three. The 1933 and 1937 probabaly sell for $1,000+. Of course the price is lower if they have condition issues. 1933 As you might expect during the Great Depression, these did not sell out. The initial mintage was 1,000, and I think that 150 or so were melted. Paul Manship was the designer. He would also do the John F. Kennedy inaugural medal in 1961. 1937 It is interesting to note that FDR's first vice president, John Nance Garner, got top billing on the reverse. You note that frequently for a president's second term, perhaps setting them up as a successor. That has not often worked out. 1945. This might be the cheaped option now. The bronze version of this used to sell for under $250.
