The State of Alaska has, by statute, created an annual art contest. The winning entry is used on the Official Alaska State Medallion. This medallion has become prized as a collectible. One must wonder why other governments have not modeled similar contests and the ensuing medallions. It is a great way for a government to generate some income other than taxation, and has little risk of bringing a loss about.
This is a wonderful way for a government to support the arts, and the minting of the annual medallions that evolves makes some interesting promotional pieces for the region. In addition, if the minting is done within the state, or other governmental division where states do not exist, there is employment to some residents that will result from the minting and sale of the commemorative pieces.
Although these medallions are not technically coins, there is an appeal to coin collectors in that there is an official decree made by an entity of authority.
There are many positives with no apparent negative, so I cannot understand why this is not emulated by other governing units.