Join Date: Apr 2006
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"do I need to do a ceremony?"
Well, if you're a Roman Catholic you'll probably be excommunicated for honoring pagan gods and rituals. If you have other beliefs, your mileage may vary.
The coin at the mast step is the bridal dowry that you are giving to your new wife as part of the wedding ceremony. Not just naming ceremony--it is a wedding. Your are asking Poseidon's blessing to take one of his daughter's as your wife, and if you don't ADD MORE DOWRY but just give back what was there before...well...Poseidon might call you a cheapskate and take back his daughter.
As I recall, when Old Ironsides was renovated and new masts were stepped, even the USN added new coins to the old ones.
Tradition would call for a gold coin, a US gold coin in the US, but the smallest gold coins that the US Mint sells are 1/10th oz, which would probably sell for $135 or so now. In more frugal times, folks have been known to use silver coins, but that's between you and your new father-in-law.