The George Washington $ 1 coin was foremost available to the public on February 15, 2007, in honor of Presidents ’ Day, which was observed on February 19. This marked the first time since the St. Gaudens Double Eagle ( 1907–33 ) that the United States has issued a mint with edge lettering for circulation. Edge-lettered coins date back to the 1790s .
The act had been introduced because of the failure of the Sacagawea Dollar mint to gain far-flung circulation in the United States. The act sympathized with the want of the nation ’ s private sector for a $ 1 coin, and expected that the appeal of changing the design would increase the public demand for newly coins ( as the populace broadly responded well to the State Quarter program ). The program is besides intended to help educate the populace about the nation ’ mho presidents and their history. Unlike the State Quarter plan, which suspended the issue of the current design during those programs, the act directed the Mint to continue to issue Sacagawea dollar coins during the presidential series. The police states that at least one in three issue dollars must be a Sacagawea dollar. furthermore, the Sacagawea design is required to continue after the presidential Coin program ends .
The act specifies that for a president to be honored, the early president of the united states must have been deceased for at least two years before publish. It will take about ten years to honor all presently eligible presidents. The serial is therefore scheduled to end in 2016 after honoring Ronald Reagan, unless Jimmy Carter, or one of Reagan ’ s other still-living successors, dies by 2014. Once the program has terminated, producing coins for those presidents not so far honored would require another Act of Congress.
however, Federal Reserve officials indicated to Congress that “ if the Presidential $ 1 Coin Program does not stimulate significant transactional need for dollar coins, the necessity that the Mint however produce Sacagawea dollars would result in costs to the taxpayer without any offsetting benefits. ” In that event, the Federal Reserve indicated that it would “ powerfully recommend that Congress reassess the one-third requirement. The one-third necessity was late changed to one-fifth by the native american english $ 1 Coin Act, passed on September 20, 2007, and Sacagawea dollars were only 0.8 % of the entire dollar coins produced through November 2007 .
previous versions of the act called for removing from circulation dollar coins issued before the Sacagawea dollar, most notably the Susan B. Anthony dollar, but the translation of the act which became law merely directs the Secretary of the Treasury to study the matter and report back to Congress. The act does require federal government agencies ( including the United States Postal Service ), businesses operating on federal property, and federally fund transit systems to accept and dispense dollar coins by January 2008, and to post signs indicating that they do so .
The United States is besides honoring the spouses of each of the Presidents by issuing half-ounce $ 10 aureate coins featuring their images, in the order that they served as First Spouse, beginning in 2007. To go steady, all first spouses have been women ( often called First Ladies ), but the law uses the term “ First Spouse ” .
Current Presidential Dollar Values ( courtesy of about.com )
This board will give you an estimate the value of your presidential dollar coins. The mesa provides average coin values and prices based upon the circumstance of the coin. If the mint shows evidence of wear on it due to being used in commerce, it considered “ circulated. ” If it was never used, then it is classified as “ uncirculated. ”
Current News on Presidential Dollars ( courtesy of coinweek.com )
First Spouse Coins Coming Soon but Long Term Series Unclear
credibly no modern U.S. coin series divides collectors a much as the gold First Spouse coins issued by the U.S. Mint since 2007… read more »
Read more: About Witter Coin
2014 First Spouse Coin Designs Revealed
The Mint has besides recently revealed the 2014 First Spouse gold coin designs that were approved by the Secretary of the Treasury…. read more »