1957 Medal 40th Anniversary Silvered CuNi The Federal Land Bank

Coin Details

Description

The 1957 silvered copper-nickel medal commemorates the 40th anniversary of the Federal Land Bank system. The Federal Land Banks were established by the Federal Farm Loan Act of 1916, signed by President Woodrow Wilson on July 17, 1916, to provide long-term mortgage credit to American farmers at reasonable interest rates. The system created twelve regional Federal Land Banks that made loans through local farm loan associations, democratizing access to agricultural credit that had previously been controlled by private banks at usurious rates. The silvered copper-nickel composition creates a bright, coin-like appearance while keeping production costs moderate. The 40th anniversary in 1957 (calculated from the system's full operational launch in 1917) recognized the Federal Land Bank system's critical role in sustaining American agriculture through the Depression, when private lenders were foreclosing on farms across the country. The banks were part of the Farm Credit System that eventually evolved into one of the largest providers of agricultural financing in the world. The Federal Land Bank system represented one of the Progressive Era's most successful institutional innovations. By removing the monopoly power of private lenders over farm credit, the system stabilized land prices, enabled farm improvements, and prevented the kind of debt peonage that had characterized nineteenth-century American agriculture. The anniversary medal recognizes an institution that, while rarely celebrated, played a fundamental role in sustaining the economic foundation of rural America.

Rarity Notes

Institutional anniversary medals were produced in quantities sufficient for organizational distribution. Federal Land Bank medals are of interest to collectors of agricultural and financial history.

Cross References

PCGS #932461; Federal Land Bank, established 1916; 40th Anniversary