The Mark Twain gold medal has one troy ounce of gold with a composition of 90% gold and 10% silver. This alloy was chosen for durability and the distinct hue it imparted to the medal, distinguishing it from pre-1933 American gold coins.
The obverse of the medal features a detailed portrait of Mark Twain with his name, MARK TWAIN, above the portrait and the letters MP at the lower right. The portrait exhibits Twain’s recognizable bushy hair and mustache.
On the reverse, a steamboat represents Twain’s connection to the Mississippi River and the setting of his most celebrated works, including The Adventures of Huckleberry Finn. Lettering around the rim of the medal reads AMERICAN ARTS COMMEMORATIVE SERIES – 1981.
Matthew Peloso was tasked with designing the Mark Twain gold medallion. His expressive portrayal on the obverse highlights Mark Twain’s distinctive appearance and spirit, while the steamboat on the reverse pays homage to Twain’s literary themes. Peloso’s design for the Mark Twain Gold Commemorative Arts Medal is celebrated for bringing Twain’s persona to life.
About 141,000 Mark Twain medals were produced, but only 116,371 were sold and the remainder were melted down. The low number of sales compared to other bullion pieces has increased the desirability of this gold medallion among many numismatists.
The American Arts Commemorative Series was created as a response to the booming popularity of foreign bullion coins like the South African Gold Krugerrand, which dominated the gold market in the United States in the late 1970s and early 1980s. Senator Jesse Helms and Representative Jim Leach were instrumental in proposing the series, which President Jimmy Carter signed into law.
The medals offered American investors a domestic gold investment option during a period of high inflation, bridging the gap between the end of the gold standard in 1971 and the introduction of the American Gold Eagle in 1986.
The underwhelming sales of the American Arts Commemorative Series prompted calls for a more accessible gold investment vehicle. In February 1982, the United States Gold Commission recommended issuing a gold coin that could be redeemable in dollars, which led to the release of the 1984 Olympic gold coins and the 1986 Statue of Liberty gold coins. Both issues were successful and sold out in advance, underscoring the appeal of legal tender gold coins over non-legal tender medals. In 1985, President Ronald Reagan banned Krugerrand imports due to South Africa’s apartheid policies, and Congress subsequently authorized the production of the American Gold Eagle bullion coin in 1986, solidifying its place in the U.S. gold market.