A new presidential dollar coin began
appearing in circulation on February 15, 2007. The leadoff coin carried the
likeness of George Washington, the first United States President.
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.
Four presidential dollar coins are to be released every year until
the conclusion of the program. The 2009 dollar coins commemorate the
presidencies of William Harrison, John Tyler, James
Polk, and Zachary Taylor.
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.
Inscriptions located on the edge of the coin, such as date, mintmark, and the motto "IN GOD WE TRUST".
[Update: 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 appeared beginning on the 2009 presidential dollars,
on the front side.]
Continuation of the Sacagawea Dollar during the life of the Presidential Coin Program. [Update: The
Native American $1 Coin Act specifies that during the life of the Presidential Dollar program, the Sacagawea Dollar reverse will bear a new design each year, starting in 2009, to recognize Native Americans for their contributions to the history and development of the United States.]
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.
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, his years served in office, and the IN GOD WE TRUST motto. The reverse shows a view
of the Statue of Liberty that is common to all presidential dollar coins, along
with 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.
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 2008 winner, Barack Obama, and the person elected president in 2012 and 2016? New legislation will probably be written to address this touchy issue.
