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Bauman, who died in 2001, served for many years as a prominent coin dealer with Manfra, Tordella & Brookes in New York City. The value of the metal contained in the currency kept prices relatively constant before the founding of the Federal Reserve.

“I was so thrilled, and my co-workers were incredibly supportive.The PNG YN Scholarship Competition is open each year to applicants between the age of 13 and 22.Entrants submit a short essay outlining why they should be chosen as the scholarship recipient.“The scholarship covers airfare, tuition for one of the two week-long Summer Seminar sessions, meals and five nights of dormitory accommodations on the campus of Colorado College, site of the ANA headquarters,” said PNG Executive Director Robert Brueggeman.The money to pay for the annual PNG YN Scholarship is administered from PNG’s Gerald Bauman Memorial Fund. dollar was first regulated by the Coinage Act of 1792 and prescribed as 371.25 grains of pure silver. One cent, worth a hundredth of a dollar, was 24 grains of copper.

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