There are circulating coins, commemorative coins and circulating commemoratives so we need to look closely at our definitions. A circulating coin is one issued and intended for commerce, sometimes called a business strike. A commemorative coin is one issued, usually under a special law, to commemorate some historical event, person, place, group or anniversary. They are similar to medals, but they carry a denomination, a specific reserved to government issued coins. Circulating commemoratives combine the two divisions, in a coin which is both intended to circulate and to honor or commemorate something.