The Icelandic Canadian - 01.12.2001, Page 11

Vol. 56 #3
THE ICELANDIC CANADIAN
137
Ericson actually preceded Christopher
Columbus in the first European discovery
of North America," Congressman Sabo
explains. "He came here around 1000 AD.
It is fitting that we recognize Ericson as we
mark the millennium of this daring
achievement," Congressman Sabo believes.
"These coins will appropriately recog-
nize Ericson's remarkable achievement,
standing as symbols of his courage and per-
severance, virtues we can all embrace" Sabo
added.
“They will honour all Americans of
Scandinavian descent. For generations,
they have proven themselves brave and
loyal Americans, carrying on the tradition
of courage and exploration started by their
Norse ancestors, including Leif Ericson,"
Congressman Sabo emphasized.
"It is appropriate that the Leif Ericson
commemorative silver dollars will support
student exchanges between the U. S. and
Iceland. This is an appropriate way to pay
tribute to the pioneering spirit of Leif
Ericson. These coins will stand as symbols
of his courage and perseverance, virtues we
all must embrace in order to accomplish
our goals," Congressman Sabo concluded
The Leif Ericson Millennium
Commemorative Coin Act directed the U.
S. Mint to issue up to 500,000 commemora-
tive silver dollars for the 1000-year
anniversary of Ericson's landing in North
America, in conjunction with a series of
coins to be minted in the Republic of
Iceland. The coins will be sold with a $10
surcharge, with proceeds supporting stu-
dent exchanges between the U. S. and
Iceland.
Proceeds from the Icelandic issue will
be allocated to the Leifur Eirfksson
Foundation which will award study grants
to Icelandic students in the USA and vice
versa. The Foundation, which is managed
at the University of Virginia, has a Board of
five Directors, two appointed by the
President of the University of Virginia, one
by the Prime Minister of Iceland and one
by the Board of Governors of the Central
Bank of Iceland. The fifth Director will be
appointed for a term of two years at a time,
on a rotating basis between the USA and
Iceland.
The Proof Silver United States and
Proof Silver Republic of Iceland Coins are
available for $37.00. The Uncirculated
Silver United States Coin is available for
$32.00.
The United States and the Republic of
Iceland Two-Coin Set is available for
$68.00. Both coins are minted by the U. S.
Mint which will handle sales outside
Iceland. The coins are 9/10 silver, weighing
26.73 grams and with a diameter of 38.1
mm. The Icelandic coin will be legal tender
in Iceland with a value of 1,000 kronur, in a
high quality Proof issue with a maximum
mint quantity of 150,000.
The designers of the U.S.
Commemorative coin are John Mercanti
and James Ferrell. Mercanti has been a
sculptor and engraver for the U. S. Mint for
26 years. His work on commemorative
coins include the 1986 Statue of Liberty
obverse, the 1989 Bicentennial of the
Congress and the 1991 Mt. Rushmore
obverse.
His most recent designs were the
bimetallic obverse and silver reverse for the
2000 Library of Congress coins. Mercanti’s
congressional medals include the obverses
of George Bush and Hubert Humphry.
James Ferrell has worked at the U. S.
Mint for 10 years. He created numerous
coin models for countries such as Panama
and Egypt while employed with Franklin
Mint. He produced artwork for the
Thomas Jefferson, James Madison and
Franklin D. Roosevelt commemorative
coins. In addition, Ferrell is credited with
recent congressional gold medals that
include portraits of Ruth and Billy
Graham, Mother Teresa and Nelson
Mandela.
The designer of the Icelandic
Commemorative Coin, Throstur
Magnusson studied at the Icelandic School
of Arts and Crafts and continued his stud-
ies at the Gothenburg School of Arts and
Crafts. Magnusson has designed approxi-
mately 180 stamps which have earned him
several merits, including “The Most
Beautiful Icelandic Stamp of the Year”
every year from 1986 until 1992.
Magnusson designed the current Icelandic
coinage and several commemorative coins