Does the US Still Make Dollar Coins?

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Detailed close-up of a ten dollar coin with a blurred golden background, highlighting currency and finance.
Credit: pexels.com, Detailed close-up of a ten dollar coin with a blurred golden background, highlighting currency and finance.

The US Mint still produces dollar coins, but they're not as widely used as paper bills. The production of dollar coins is a regular process.

In 2020, the US Mint produced 1.043 billion dollar coins, with the majority being American Eagle and American Buffalo coins. These coins are popular among collectors.

The US Mint has been producing dollar coins since 1971, when the Eisenhower dollar was introduced. This was the first dollar coin in over 40 years.

The dollar coins are made from a combination of copper, nickel, and zinc, and are designed to be durable and long-lasting.

History of US Dollar Coins

The Presidential Dollar Coin program was a series of coins honoring former US presidents that ran from 2007 to 2016, and briefly resumed in 2020.

In 2007, the first Presidential coins of four different designs were produced, with another four designs released each year to honor presidents in order of service.

Credit: youtube.com, The Dollar: Complete History and Evolution of the U.S. Dollar Coin

Grover Cleveland is on two coins since he served two non-consecutive terms.

The Presidential $1 Coin Act aimed to create renewed interest in dollar coins, like the 50 State Quarters program.

The presidential dollar coin is the same size and composition as the Sacagawea dollar.

A common minting error on this coin is the omission of the edge lettering, causing a plain outside edge, which occurred on an estimated 80,000 coins out of a mintage of 300,000,000.

The production of new presidential dollar coins for circulation was suspended in 2011 due to budget constraints and increasing stockpiles of relatively unpopular coins.

The US Mint has continued to produce $1 coins as part of two different programs: Native American $1 coins and presidential $1 coins.

Specific Coins

The US still produces dollar coins, and they come in various designs. The American Innovation $1 Coin Act, also known as H.R. 770, aims to mint new $1 coins starting in 2019.

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These coins would feature an image of the Statue of Liberty on the obverse side. The reverse side would include an image emblematic of a significant innovation, an innovator, or a group of innovators from one of the 50 states, the District of Columbia, or the territories of the United States.

The designs would be selected by the Secretary of the Treasury in consultation with the governor or chief executive of each state, the District of Columbia, or territory and the U.S. Commission of Fine Arts. The Citizens Coinage Advisory Committee would also review the designs.

Some notable dollar coins include the Peace dollar, which was introduced in 1921 to commemorate the signing of formal peace treaties between the Allied forces and Germany and Austria. The Peace dollar was designed by medalist Anthony de Francisci.

The Peace dollar was minted from 1921 to 1928, and again from 1934 to 1935. Production resumed in 2021 and is expected to continue in 2023 and beyond.

Here's a breakdown of the features of the American Innovation $1 Coin Act:

  • Obverse: Image of the Statue of Liberty
  • Reverse: Image emblematic of a significant innovation, an innovator, or a group of innovators
  • Selected by: Secretary of the Treasury in consultation with the governor or chief executive and the U.S. Commission of Fine Arts
  • Reviewed by: Citizens Coinage Advisory Committee

Other Coins

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The US still produces dollar coins, and it's not just the Susan B. Anthony dollar that's worth noting. The Presidential dollar coin series was introduced in 2007 and features portraits of former US Presidents.

These coins are not as widely circulated as the Susan B. Anthony dollar, but they are still produced by the US Mint. The Presidential dollar coin series is a 10-year program that will feature a total of 16 presidents.

The American Innovation dollar coin series was introduced in 2019 and features designs that represent innovative achievements from each state. These coins are also produced by the US Mint.

The American Innovation dollar coin series is a great example of the US Mint's ability to produce a wide range of dollar coins. The series is ongoing, with new designs being released each year.

Legislation and Sales

The U.S. Mint has produced $1 coins as part of two different programs: Native American $1 coins and presidential $1 coins.

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A bill called H.R. 770, the "American Innovation $1 Coin Act", was passed by the House and Senate, which would require the U.S. Mint to produce four coins per year for 14 years, including one coin per state, the District of Columbia, and the U.S. territories.

The bill specifies that the coins would be minted beginning in 2019 and would include an image of the Statue of Liberty on the obverse and an image emblematic of a state's innovation on the reverse.

The U.S. spent about $1.3 billion in 2017 to produce, process, and circulate coins and paper notes for use in the economy, which is a significant amount of money that could be saved by replacing notes with coins.

U.S. Treasury GSA Sale

The U.S. Treasury GSA Sale is a unique opportunity for businesses to acquire surplus property from the government. The General Services Administration (GSA) handles the sale of these properties, which can include everything from office furniture to vehicles.

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The GSA Sale is a cost-effective way for businesses to acquire the equipment and supplies they need. It's a win-win situation for both the government and the buyer.

The U.S. Treasury GSA Sale is a public auction, where anyone can bid on the available properties. The sale is usually held online, making it easy for businesses to participate from anywhere in the country.

The properties up for sale can range from gently used office equipment to brand new vehicles. The GSA Sale is a great way for businesses to save money on their purchases.

The sale is open to the public, and anyone can register to bid. The GSA provides detailed information about the properties up for sale, including their condition and price.

US $1 Coin Legislation

The US $1 coin has a long and complex history, with various legislation and programs aimed at promoting its use. H.R. 770, the "American Innovation $1 Coin Act", was passed by the House and Senate, requiring the U.S. Mint to produce four coins per year for 14 years, featuring one coin per state, the District of Columbia, and the U.S. territories.

Credit: youtube.com, Tom's Take: Senator Harkin Touts Benefits of a Dollar Coin Over a Dollar Bill

The coins would be minted starting in 2019, with two different versions of the bill, one requiring the coins to be issued in alphabetical order, and the other in the order the states ratified the Constitution. The U.S. Mint would select the designs for the coins in consultation with the governor or chief executive of each state, the District of Columbia, or territory, and the U.S. Commission of Fine Arts.

The Presidential $1 Coin Act, which ran from 2007 to 2016, produced coins honoring former U.S. presidents, with at least one-third of all dollar coins still being Sacagawea coins. The coins featured the likeness of the President on the obverse and the Statue of Liberty on the reverse.

H.R. 770 specifies several features of the potential coins, including an image of the Statue of Liberty on the obverse and a reverse image that includes an image or images emblematic of one of the 50 states, the District of Columbia, or the territories of the United States.

Two other bills have been introduced in the Senate to authorize the American Innovation $1 coin: S. 1326 and S. 2399.

GAO Study

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The GAO Study found that replacing the $1 note with a $1 coin would likely result in a net loss to the government over 30 years, with estimates suggesting a loss of about $611 million if notes were actively replaced and about $2.6 billion if $1 notes were replaced gradually.

The U.S. Mint has proposed legislation to enable the Secretary of the Treasury to change the metal content of coins without affecting their weight or machine acceptance.

GAO's analysis found that the government would incur a loss of about $611 million if $1 notes were actively replaced, based on current data and economic projections.

The lifespan of the $1 note has more than doubled since a 2011 GAO analysis, from 3.3 years to 7.9 years, largely due to changes in note processing technology.

The U.S. Mint estimates that it could save approximately $250 million over 10 years by suspending penny production and between $2 million and $9 million per year by changing the metal composition of the nickel.

Federal Reserve officials and some stakeholders expressed concern about temporarily suspending the penny due to the potential for external effects, such as penny shortages.

Stakeholders were unconcerned about changes to the nickel as long as the changes would not affect how the coin functioned, for example, in vending machines.

Frequently Asked Questions

Are $1.00 coins worth anything?

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Colleen Pouros

Senior Copy Editor

Colleen Pouros is a seasoned copy editor with a keen eye for detail and a passion for precision. With a career spanning over two decades, she has honed her skills in refining complex concepts and presenting them in a clear, concise manner. Her expertise spans a wide range of topics, including the intricacies of the banking system and the far-reaching implications of its failures.

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