Commemorative coins and medals are supposed to recognize the important people, places, and events of a nation’s history. As such, it would seem they should be reserved for truly historic occasions, and not be the pawns of political lobbying.

As a collector of U.S. commemoratives – both traditional and modern, both coins and medals – I, like many collectors, am often disappointed with the modern commemorative programs that are authorized by Congress. Far too often these programs cater to present-day politics instead of historical commemorations. But what disturbs me more than the approval of marginal commemorative programs is the failure to pass bills that, I believe, are truly worthy of a commemorative coin program.

During the Summer of 1995, a commemorative coin bill (S. 1150) was introduced to the Senate that would have recognized one of the most significant U.S. humanitarian efforts of the 20th century – The Marshall Plan. The bill, if enacted as introduced, would have authorized the Secretary of the Treasury to mint up to 700,00 silver dollars, and up to 500,000 clad half dollars in 1997 in dual commemoration of the 50th anniversary of the Marshall Plan and George C. Marshall, one of the key architects of the Plan.

The Marshall Plan was launched by Secretary of State George E. Marshall during an address at Harvard University on June 5, 1947. In it, Secretary Marshall proposed that Europe draft its own reconstruction plan and that the U.S. would provide the needed financial support. He further stated that the plan was "not against any country or doctrine, but against hunger, poverty, desperation, and chaos."

European leaders developed their plan for reconstruction during the summer and fall of 1947, and estimated that up to $22 billion might be needed for the immense project. In April of 1948, the U.S. Congress approved the Economic Recovery Program (ERP), which authorized $17 billion in loans and aid over the next four years. Thus, the ERP provided the massive financial resources needed for the reconstruction of much of Western Europe; the Soviet Union and its satellites choose not to be a part of the ERP, however, calling it an "imperialist plot" to enslave Europe.

Without the financial assistance of the U.S., it is very likely that a war ravaged Europe would have been plunged into a severe economic depression, become politically unstable, and experienced widespread human suffering and hardship. Instead, the ERP helped Europe restore its economic and political stability sooner than most experts had predicted, and for less than originally estimated.