— United States Mint Director
Edmund C. Moy; Louise Roseman, Director of
Reserve Bank Operations and Payments Systems
at the Board of Governors of the Federal
Reserve; and other Federal officials
provided a first glimpse of a new series of
circulating Presidential $1 Coins at a
design unveiling ceremony held today at the
Smithsonian Institution’s National Portrait
Gallery. The $1 coins are being introduced
as a result of the Presidential Coin Act of
2005, which requires the United States Mint
to mint the dollar coins commemorating the
service of former United States Presidents
in the order in which they served.
Like the United States Mint’s successful
50 State Quarters® Program on which it was
modeled, the Presidential $1 Coin Program
features a systematically rotating design.
The first four $1 coins will commemorate
George Washington, John Adams, Thomas
Jefferson and James Madison.
"The new Presidential $1 Coins are an
educational and fun way to learn about
former Presidents, " said Director Moy. "Our
research indicates that, like the 50 State
Quarters coins, the Presidential $1 Coins
will be popular with millions of Americans."
According to a study commissioned by the
United States Mint, about half of all
Americans are interested in collecting the
Presidential $1 Coins – but their appeal
does not end with collecting.
"Congress recognized that the 50 State
Quarters Program showed how a systematically
changing design can spark public interest in
a coin and we’re hoping to build on that
success," Director Moy said.
Subjects, Unique Design
The designs of the coins are bold and
dramatic, with traditional inscriptions
moved to the edge to allow for larger images
of the Presidents. These include "E Pluribus
Unum" and "In God We Trust," the year of
minting or issuance, and the mint mark,
making these coins unique among today’s U.S.
The new Presidential $1 Coins are
identical in color and size to the Sacagawea
Golden Dollar Coins, and have the same
distinctive rim and tactile features to
assist the visually impaired. Additionally,
the new $1 coins carry the same
electromagnetic signature as both the
Sacagawea Golden Dollar coin and the Susan
B. Anthony dollar coin, making them readily
acceptable in vending machines that
currently accept dollar coins.
The face of each coin will feature an
image of a former President and the years of
his term of office. The reverse of the coin
shows an image of the Statue of Liberty and
the inscriptions "The United States of
America" and "$1."
through Banks and Other Financial
The United States Mint and the Federal
Reserve System are working in partnership to
make it easy for businesses and members of
the general public to obtain the new coins
as they are released. The Presidential $1
Coins will be shipped to banks and other
financial institutions in rolls, unmixed
with other dollar coins. For each new
design, banks may order and store the coins
up to two weeks prior to the introduction so
they will have supplies on hand on the
release date. The coins will be available in
unmixed rolls for four weeks after the
introduction of each design. When each new
Presidential $1 Coin is released, the
special ordering process begins again.
Dollar Coin Release Schedule
Each President will be honored with a
single $1 coin, regardless of the number of
consecutive terms he served. Grover
Cleveland, the only United States President
to serve non-consecutive terms, will be
honored on two coins. No living former or
current President can be honored on a coin.