A celebration was held in Old Fort Raleigh in 1937 to commemorate the 350th anniversary of Sir Walter Raleigh's "Lost Colony" and the birth of Virginia Dare, the first white child born in British North America.
Obverse portrays Errol Flynn posing as Sir Walter Ralegh. (The explorer's own spelling; the coin says RALEIGH because the Act of Congress authorizing the issue used that incorrect spelling, and the Commission of Fine Arts insisted that the same form be used on the coin as in the authorizing act!) Monogram WMS below truncation is that of William Marks Simpson, designer, sculptor.
The reverse depicts Eleanor Dare with the infant Virginia Dare in her arms. Behind her is a sapling of either mountain pine or some related evergreen; on either side is a small model of an old tree-masted ship under full sail, said in the brochure accompanying the coins to be "similar to those in which the Colonists crossed the ocean." Choice of all these devies reflects the event commemorated, though to deduce the connections would require a fair knowledge of local history. Ralegh (1552-1618) held letters patent from Queen Elizabeth authorizing him to explore "remote heathen and barbarous lands." Accordingly, he out-fitted two ships (evidently represented by the two on the reverse of the half dollar) to scout out possible locales for settlements along the Atlantic coast of North America. Ralegh's people selected Roanoke Island partly because it was near to Spanish Florida, partly because the local Indians were friendly; Her Majesty named it Virginia.
Local Celebration at old Fort Raleigh on Roanoke Island, sponsored by a variety of civic groups and "historical associations," August 1937, Act of Congress, June 24, 1936.
As the authorizing act specified that the coins all bear date 1937 regardless of when they actually struck, this issue started out to be one of the postdated ones like the Delaware Swedish Tercentenary and the New Rochelle. Simpson completed the initial version of his models about September 25, 1936, differing from the coin as adopted in numerous details such as having the date 1936 on obverse, Ralegh's name in a straight line parallel to the straight truncation, and signature on reverse instead of the pine sapling.
The Federal Commission of Fine Art approved the designs on September 30, with the stipulation that the final models be resubmitted. When this was done, the Commission balked at the spelling of Ralegh's name and remained as unwilling to yield on the point as a frontier judge, despite the artist's citing documentary evidence that "Raleigh" was the one spelling that Sir Walter never used, and that "Ralegh" was the only spelling that he consistently used from June 9, 1584, until his death in 1618. As the Commission approved the models only subject to use of the spelling with the "i," Simpson inserted it, after which the models went to Medallic Art Co. of New York in mid-December 1936, for reduction, thence to the Philadelphia Mint. A total of 50,000 followed in two batches: 25,000 more (with the same number of extras for assay) in June 1937. As the authorizing act gave a minimum figure of 25,000 but no maximum, more could have been made, subject to a July 1, 1937 deadline. However, sales languished even at $1.65 each, only 29,000 being sold in all, the remainder being returned to the mint for re-melting. Coins from the two batches cannot be distinguished by any known tests as yet.
The Roanoke Colony Memorial Association marketed these coins in Eggers type holders containing one to five pieces each, imprinted as in the illustration. About 55 of these holders are known today. The majority of the Roanokes were sold to the general public. However, survivors are fairly common at present (1980) in choice (MS-63) to gem uncirculated (MS-65) condition because roll lots were put away in 1937. But even these are not all in gem state, since they will possess bad nicks or scratches.
Perhaps 50 proof-like presentation pieces were made; they have only ordinary sharpness. Real proofs would be shaper and rarer than these. Their satin finnish somewhat resembles that on "Roman Gold" proofs of 1909-1910 quite different from the occasional proof-like striking and as they were given at least two blows from the dies apiece, they have considerable extra sharpness of detail.
The enlarged photograph of one of these satin finish proofs shows clearly how much more detail is present on them than on business strikings (such as at the head of this section). Note in particular the differing granular textures of face and coat, and the extra clarity of mustache and upper beard as well as of hair just before and behind the ear. On reverse, additional detail is visible at Eleanor Dare's hair, sleeve and cuff, point (the triangular area of the lower bodice, just below her cuff and hand) and the gathered area of draperies just below that.
The Roanoke Colony Memorial Association marketed these coins in Eggers type holders containing one to five pieces each, imprinted as in the illustration. About 55 of these holders are known today. The majority of the Roanokes were sold to the general public. However, survivors are fairly common at present (1980) in choice (MS-63) to gem uncirculated (MS-65) condition because roll lots were put away in 1937. But even these are not all in gem state, since they will possess bad nicks or scratches.