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Why a Presidential Dollar Coin?
Basic Facts About the Program Release Schedule
Unique Edge Design
Hail to the Chiefs
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A new presidential dollar coin began
appearing in circulation on February 15, 2007. The leadoff coin carried the
likeness of George Washington, the first U.S. President. The earliest four
designs in the presidential dollar coin series were revealed by the U.S. Mint
last November at a ceremony held at the Smithsonian Institution's National
Portrait Gallery.
The
dollars are being produced because of the Presidential $1 Coin Act of 2005, which
obliges the Mint to strike the dollar coins to commemorate the service of former U.S.
Presidents, in the order in which they held the nation's highest office.
The initial group of presidential dollar coins were released throughout the
year 2007,
featuring images of the first four Chief Executives of the United States. The images
for the 2008 presidential dollars have now been unveiled by the Mint.
Throughout the year the dollar coins commemorating James Monroe, John Quincy
Adams, Andrew Jackson, and Martin Van Buren will be released.
The key
provisions of presidential
dollar coin law include:
-
Image placement of four U.S. presidents on the
dollar coin each year, in the order of their service, until all are
commemorated.
- The Statue of Liberty is featured on the
reverse side of every presidential coin.
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Inscriptions located on the edge of the
coin, such as date, mintmark, and the motto "IN GOD WE TRUST".
The law was amended in December, 2007, to relocate "IN GOD WE TRUST" from the
edge to either the front or back. This was in response to public outrage
over what many perceived as the "Godless" dollar. The change should
appear on the 2009 presidential dollars.
- Continuation of the Sacagawea dollar during
the life of the Presidential Coin Program. When the program concludes,
all $1 coins will revert to the Sacagawea design.
- The federal government is required to use
the presidential dollar coin in all of its retail operations.
- The dollar coins must be readily available
to commerce, by producing sufficient quantities of rolls and bank bags.
- A new pure-gold bullion coin to honor
presidential spouses will be created, designed to appeal to collectors and
investors alike.
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A ground view looking up at the Statue of Liberty
appears on the reverse side of all presidential dollar coins. United States Mint image. |
The front side of each coin depicts the image of a
former President and his years served in office. The reverse shows a view
of the Statue of Liberty that is common to all presidential dollar coins, along
with the inscriptions "The United States of America" and "$1."
The presidential coin set is modeled after the
popular
50 State Quarter Program created by Congress in 1997. That program has
attracted many new individuals to the coin collecting hobby, while renewing
interest in our nation's history and the contribution of each state.
What's more, Uncle Sam has enjoyed a profit of $0.20 or so for every quarter
released into circulation, reflecting the difference between the cost of
producing the coin and its face value in commerce, bringing in more than $4 billion extra dollars to
the Treasury due to the public demand for State Quarters.
A study commissioned by the Mint showed that about half of all Americans are
interested in collecting the presidential dollar coins. In a
manner similar to the State Quarters, a fully circulating dollar coin would net
perhaps as much as $500 million for the government annually, because for each
presidential dollar coin distributed to the public, somewhere between $0.85 and $0.90 profit returns to the Treasury.
The table below lists all U.S. presidents in
chronological order of service, and the year their presidential dollar coin will
be issued. According to the new law, a president must be deceased a
minimum of two years before being honored on a presidential dollar
coin.
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Presidential
Dollar Coins |
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Issue Date |
President, Term of Office |
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Feb 15, 2007 |
1.
George Washington, 1789-1797 |
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May 17, 2007 |
2.
John Adams, 1797-1801 |
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Aug 16, 2007 |
3.
Thomas Jefferson, 1801-1809 |
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Nov 15, 2007 |
4.
James Madison, 1809-1817 |
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Feb 14, 2008 |
5.
James Monroe, 1817-1825 |
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May 15, 2008 |
6.
John Quincy Adams, 1825-1829 |
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Aug 14, 2008 |
7.
Andrew Jackson, 1829-1837 |
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Nov 13, 2008 |
8.
Martin Van Buren, 1837-1841 |
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2009 |
9. William Henry Harrison, 1841 |
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10. John Tyler, 1841-1845 |
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11. James K. Polk, 1845-1849 |
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12. Zachary Taylor, 1849-1850 |
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2010 |
13. Milliard Fillmore, 1850-1853 |
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14. Franklin Pierce, 1853-1857 |
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15. James Buchanan, 1857-1861 |
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16. Abraham Lincoln, 1861-1865 |
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2011 |
17. Andrew Johnson, 1865-1869 |
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18. Ulysses S. Grant, 1869-1877 |
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19. Rutherford B. Hayes, 1877-1881 |
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20. James A. Garfield, 1881 |
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2012 |
21. Chester A, Arthur, 1881-1885 |
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22. Grover Cleveland, 1885-1889 |
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23. Benjamin Harrison, 1889-1893 |
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24. Grover Cleveland, 1893-1897 |
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2013 |
25. William McKinley, 1897-1901 |
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26. Theodore Roosevelt, 1901-1909 |
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27. William H. Taft, 1909-1913 |
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28. Woodrow Wilson, 1913-1921 |
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2014 |
29. Warren G. Harding, 1921-1923 |
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30. Calvin Coolidge, 1923-1929 |
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31. Herbert C. Hoover, 1929-1933 |
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32. Franklin D. Roosevelt,1933-1945 |
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2015 |
33. Harry S. Truman, 1945-1953 |
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34. Dwight Eisenhower, 1953-1961 |
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35. John F. Kennedy, 1961-1963 |
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36. Lyndon B. Johnson, 1963-1969 |
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2016 |
37. Richard M. Nixon, 1969-1974 |
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38. Gerald R. Ford, 1974-1977 |
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39. James E. Carter, Jr., 1977-1981 |
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40. Ronald W. Reagan, 1981-1989 |
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2017 |
41. George H.W. Bush, 1989-1993 |
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42. William J. Clinton,
1993-2001 |
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43. George W. Bush, 2001- |
The issuance dates for the first 38 presidential
dollar coins are certain, carrying us until the year 2016. How many new
presidential coins are minted beyond that is dependent on the number of living
former presidents who die prior to 2014. Jimmy Carter and George H.W. both turn 90 that year. Bill
Clinton and George W. Bush, both born in 1946, would be 68 in 2014, so the odds
are good they won't qualify for their presidential coins by then. And what
of the person elected president in 2008, 2012, and 2016? New legislation
will probably be written to address this touchy issue.
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