“Niles Trust Co. Appointed Agent McKinley Souvenir Gold Dollars will be Handled at Local Bank—100,000 Coins Expected to Arrive in Few Days to be Sold as Souvenirs.” Niles Daily News, August 10, 1916. Retrieved 7.7.2015 from http://mckinley.advantage-preservation.com/document/niles-daily-news-1916-08-10-page-1
Contrary to a report published in an out-of-town newspaper, the Niles Trust Co. had not yet received McKinley Gold Dollars. The understanding at that time was that the coins were being made in the Philadelphia mint, and would be forwarded here when finished. These coins were sold for the benefit of the National McKinley Birthplace Memorial Association. The Board had not yet decided on a price for the coins. The Niles Trust Co. had been appointed by the Trustees as fiscal agent to handle the coins beginning in June 1916. The bank was in constant touch with the mint since June 1916. These are special coins authorized by Congress. One hundred thousand of these coins were soon to be deposited in the Niles Trust Company. At that time, it was unknown what premium would be charged.