Monday, February 12, 2007

Cha Ching !!! US Mint Will Issue New Gold Presidential Dollar ! History in the making !

Despite of all the controversy surrounding the use of the dollar coin, I think coin currency lasts for a very long time and paper money, crumbles, fades and disappears. Although we are already in the age of paperless currency with all the electronic banking, I think this is a great way of preserving history.

The U.S. Mint in 2007 will start producing dollar coins with portraits of former presidents, according to legislation sent to President Bush on Thursday, February 15th, 2007. Four coins will be issued each year in the order in which the presidents served.

Here is the release schedule

These artist renderings show the designs for the new presidential dollar coin program. Starting in February, the first of the coins will be released, followed by a different president every three months.

The quarter program has been widely successful, introducing millions of people to coin collecting for the first time. The Mint hopes the presidential program will enjoy similar success, in part because of the bold designs on the new coins.The coins will be the same size as the Sacagawea dollar -- a little larger than a quarter -- and the same golden color as the Sacagawea.

According to tradition, no living presidents will appear on coins.
  • The image of the president will be on one side and the Statue of Liberty on the other.
  • The Mint will make commemorative coins of the presidents' spouses. They will be 24-karat gold, the highest quality ever used.
  • The images will be slightly larger than those on a quarter, because space was freed up by moving some of the traditional wording such as "In God We Trust" to the edge of the coin.
  • Grover Cleveland will be on two coins because he served non-consecutive terms.

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