History, Information, and Value of 1881 U.S. Assay Commission Medal
The Hayes medal displays President Hayes on the obverse for the third time. The legend reads, “The mint of the United States Annual Assay 1881” and the letter “M” can be seen on the bust. The reverse Liberty and Justice meeting in front of a coining press. Justice on the right carries scales and Liberty stands on the left. The exergue translates, “Let not the state receive any harm” and “C.E.B” in the lower left. Thirty of these medals were struck in 1881, and later three were returned and melted down. An alternate medal exists with the initial “B” instead of “C.E.B.” and these medals were probably distributed to the commissioners.