Initially, Ganz found support from only Charles Atherton, from the Federal Commission on Fine Arts, and Dan Hoffman, a young numismatist from South Carolina who also served on the CCCAC.
The committee then sought the support of Representative Michael Castle (R-Delaware), chairman of the House Banking subcommittee with jurisdiction over the nation's coinage.
Castle's initial caution was resolved when Diehl suggested the coins be issued in the order the states entered the Union or ratified the Constitution.
Diehl and Castle used these profit projections to urge the Treasury's support, but Treasury officials found the projections to lack credibility (at the program's conclusion, the Mint estimated the program had earned $3 billion in additional seignorage and $136.2 million in additional numismatic profits).
With Diehl's advice, Castle accepted the Treasury's offer, and the agreement was codified in the United States Commemorative Coin Act of 1996.
[12][13] The act also authorized the Secretary to proceed with the 50 States Quarters Program without further congressional action if the results of the feasibility study were favorable.
The Treasury Department engaged the consulting firm Coopers and Lybrand to conduct the study in 1997, which confirmed the Mint's demand, seignorage, and numismatic profit projections for the program.
[4] In 1997, Congress issued that mandate in the form of S. 1228, the 50 States Commemorative Coin Program Act, which was signed into law by President Bill Clinton on December 1, 1997.
The Mint's conversion of each state's proposal into the final design that was used on the quarter also drew criticism for being overly simplified or poorly rendered.
This was due to weakening economic conditions in later years and the waning of the initial surge of demand when the program was launched.
When the director's term ended in 2000, the Treasury proceeded to reduce and finally terminate the most effective elements of the Mint's promotional program despite the high return on investment they earned.
"[40] While mintage totals of the various designs vary widely—Virginia quarters are almost 20 times as abundant as the Northern Marianas quarters—none of the regular circulating issues are rare enough to become a valuable investment.
Being the first model of state quarter made, the mint gave it a disproportionate weight causing vending machines to not accept it.
"[47] The United States produces proof coinage in circulating base metal and, since 1992, in separately sold sets with the dimes, quarters, and half-dollars in silver.
For the silver issues, the 1999 set is the most valuable, being the first year of the series and with a relatively small mintage, although prices have significantly decreased since the 50 State Quarters Program ended.
The public is cautioned to research prices before buying advertised state quarter year or proof sets.
Home Shopping Network, Franklin Mint, and Littleton Coin Company were among the most prominent in ad space.