First Business Bank is working withThe Negro Leagues Baseball Museum, Kansas City, Mo., to promote a commemorative coins program.
The program began after Congress directed the Treasury in 2020 to produce the three-coin series to commemorate the 100-year anniversary of the Negro Leagues. The series includes $5 gold coins, $1 silver coins, and half-dollar clad coins, which have been for sale since Jan. 6.
Once the Treasury recoups expenses for designing and minting the coins, the funds will be distributed to the Negro Leagues Baseball Museum. Over the next year, Madison, Wis.-based First Business Bank will promote the coin sales. The bank will manage any assets generated for NLBM through the program. According to the bank, the program could yield up to $6 million if all 850,000 coins are sold — 50,000 gold; 400,000 silver; and 400,000 clad.
Rob Barker, First Business Bank’s Kansas City Metro market president, called the museum an important piece of American history. “The legacy and history maintained by the NLBM is very important to preserve and we are honored to help promote this program to benefit their efforts and ensure their financial wellness in the years to come,” Barker said.
The Negro Leagues were established after Black Americans were barred from playing in Major League Baseball due to racist Jim Crow laws. In 1920, the organized Negro National League was formed under the guidance of former baseball player, manager and owner Andrew “Rube” Foster. Soon, rival leagues began in Eastern and Southern states. The integration of baseball in 1947 sparked a migration of talent to MLB, and marked the beginning of the end of the Negro Leagues.
First Business Bank will be involved in upcoming NLBM programs and events, including the 2022 Buck O’Neil Golf Classic slated for Aug. 16 at Shoal Creek Golf Course, Kansas City, Mo. “The Negro Leagues Baseball Centennial Commemorative Coin Act is one of the most important initiatives in museum history,” said Bob Kendrick, NLBM president. “And, while we are ecstatic to have gained the issuance of the coins, the true success comes with our ability to realize as much of the revenue potential as possible. I’m extremely confident that our partnership with First Business Bank and their tremendous connections to the business community will help us accomplish that goal.”