COINWEEK INTERVIEWS MIKE CASTLE

Congressman Mike Castle served as governor of the state of Delaware from 1985 to 1992 and served almost eighteen years (1993-2011) as a member of the United States House of Representatives from Delaware’s at-large district*. While in Congress, Castle was the head of the United States House Financial Services Subcommittee on Domestic Monetary Policy and Technology, a subcommittee of the House Committee on Financial Services. While serving in this capacity, Castle sponsored legislation that authorized production of the 50 State Quarters program–the largest circulating commemorative coin program in American history. He also had jurisdiction over issues concerning coins, medals, and currency.

CM: So Congressman, in numismatic circles you’re known for your role in sponsoring and pushing through Congress legislation that authorized the creation of the 50 State Quarters® Program. How did that come about?

MC: Well first, I did not have a personal history of coin collecting and the reason that the coin collecting community approached me was because I was named head of the subcommittee of the Financial Services Committee that had oversight of the U.S. Mint. So, the collecting community approached my staff and me and made their pitch to change the quarter in order to celebrate the history of the 50 states.

CM: What did you think of their proposal?

MC: My initial reaction was one of strong uncertainty. I wasn’t really sympathetic to changing our currency. I didn’t want it to turn into Monopoly® money, so I needed to be sold on it and they preceded to do that.

CM: What convinced you?

MC: Well, the collectors came back to me and they indicated that the American public would have great interest in the program. They proposed the idea that the quarters would be released in the order the states were admitted into the Union. Of course, I liked that because I was from Delaware and Delaware was the first state.

CM: Obviously, you had to convince a lot of people that this bill was a good idea…

MC: Yes. Well, I had to convince Treasury Secretary Robert Rubin and Deputy Secretary Larry Summers that it was a good idea. They were skeptical themselves and asked for a study, which Coopers & Lybrand did. In their report, Coopers & Lybrand said that everything represented in the coinage proposal was accurate. It was something that could make money and would have a broad appeal for the American people. For that reason, they basically recommended it.

CM: How did you get the bill through the House and Senate. People, I think, are interested in knowing how the sausage gets made, so to speak.

MC: My staff and I had to work other people on the subcommittee and the Financial Services Committee. We had to convince leadership that it was worthwhile, otherwise they wouldn’t have considered it. In time, we were able to do that. For me, the more difficult task was trying to convince the Senate. I didn’t have immediate connections over there, but eventually both houses of Congress thought it was a good idea.

CM: Seems like once there was momentum behind the legislation, it would have been an easy vote.

MC: Yes, it was an easy vote.

CM: Obviously, the Delaware State Quarter was the first one struck. Did you attend the launch ceremony?

MC: Yes, I did. And that’s when I realized the excitement of it. The launch ceremony was held at Caesar Rodney Square; Caesar Rodney, one of the great patriots of the Revolution, a signer of the Declaration of Independence. The Wilmington Trust Company distributed the quarters. There was a big turnout and lots of enthusiasm. After that, I started to hear from a lot of other people, other members of Congress, that it was good for them and that they were excited about it.

To read the complete article, see:
CoinWeek Q&A with Former Congressman Mike Castle (www.coinweek.com/featured-news/coinweek-qa-former-congressman-mike-castle/)

Wayne Homren, Editor

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