Presidential Dollars
The Presidents of the United States are being honored with a new series of circulating dollar coins. There will be four different designs issued each year, featuring the former presidents in the order served.
The Presidential Dollar series began in 2007 with coins honoring George Washington, John Adams, Thomas Jefferson, and James Madison. The series will continue in 2011 with the issuance of coins for Andrew Johnson, Ulysses S. Grant, Rutherford B. Hayes, and James Garfield, representing the 17th to 20th Presidents.
The Presidential Dollar Coin Act
The series was authorized under The Presidential $1 Coin Act (Public Law 109-145), which was signed by President Bush on December 15, 2005. The Act provided for the redesign and issuance of $1 coins honoring the former Presidents of the United States during the period beginning January 1, 2007. The new series would seek to revitalize the design of United States coinage and return it to its position as an object of aesthetic beauty.
The Act included measures to ensure an adequate supply of the coins are available for circulation. The Federal Reserve Banks would be required to have unmixed quantities of the coins available to financial institutions during an introductory period for each coin release. The Director of the United states Mint was required to increase public awareness of the new dollar coins through various activities and programs.
Provisions were also included in the Act to honor the First Spouses of the United States within a separate coin series. The US Mint was authorized to mint and issue one-half ounce 24 karat First Spouse Gold Coins. These coins would be released in conjunction with the Presidential Dollars and sold directly by the US Mint.
Presidential Dollar Coin Designs
The obverse design of each Presidential Dollar features the likeness and name of the President being honored. Additional inscriptions indicate order of the Presidency and the years served. The designer of the obverse has varied throughout the series.
The design to appear on the reverse of each coin was specified within the authorizing legislation. A likeness of the Statue of Liberty was required to appear, extending from the rim and large enough to create a dramatic impression. Required inscriptions included the denomination expressed as “$1″ and “United States of America”. The word “Liberty”, which appears on all other circulating U.S. coinage was specifically not required to appear within the inscriptions. The Act indicated that the Statue of Liberty would adequately portray the concept of Liberty.
The reverse design, which has been used for each issue of the series so far was designed by US Mint Sculptor-Engraver Don Everhart.
Another specification within the act was the use of edge-incused inscriptions. By including certain items on the edge of the coin, more room would be available on the faces of the coin for larger and more dramatic artwork. The edge inscriptions include the date, mint mark, and motto “E Pluribus Unum.” For Presidential Dollars released during 2007 and 2008, the motto “In God We Trust” also appears on the edge. The motto was moved to the obverse of the coin from 2009 to present.
Release Dates and Mintages
The Presidential Dollars will be issued at a rate of four different designs per year. The order of issuance will follow the order of the Presidencies. If a President served in two or more consecutive terms, only one coin will be issued. However, if a President served in two nonconsecutive periods of service, a coin may be issued for each period. Under the provisions of the Act, coins may only be issued for Presidents who have been deceased for at least five years.
Mintage levels for the series have shown a general decline since the introduction of the series in 2007. For the first year of issue, nearly one billion coins were produced for circulation across the four different designs and two minting facilities. As the coins failed to achieve widespread circulation, mintage levels fell for subsequent years, although the requirement for Federal Reserve Banks to make the coins available to financial institutions provides for a certain base level of demand.
This site will be updated throughout the course of the series to bring you the latest information on Presidential Dollars. Please check back soon for updates!
