George Washington to be First in Historic Presidential $1 Coin Series

WASHINGTON — The United States Mint today released into circulation the new George Washington $1 Coin, the first in a series of $1 coins honoring former United States Presidents.

The George Washington $1 Coins are legal tender and can be used for commerce and collecting. All Presidential $1 Coins are designed to work in most coin machines, including parking meters and vending machines.

Modeled after the United States Mint’s successful 50 State Quarters(R) Program, the Presidential $1 Coin Program will feature systematically rotating designs of former United States Presidents. The George Washington $1 Coin marks the first of four Presidential $1 Coins to be released this year, with John Adams, Thomas Jefferson and James Madison to roll out later in 2007.

The United States Mint celebrated the debut of the George Washington $1 Coin with a special Presidential $1 Coin Exchange in New York City featuring a brigade of armored cars delivering the coins to Grand Central Terminal. The United States Mint is offering financial institutions and retail businesses nationwide free informational materials via http://www.usmint.gov/$1coin . Schools and educational organizations can also access lesson plans and other educational tools on the same webpage.

“Americans will soon be receiving Presidential $1 Coins in their change and will find them convenient to use at retailers, car washes and vending machines. I even suspect the tooth fairy will love leaving these beautiful coins under pillows,” said United States Mint Director Edmund C. Moy. “The Presidential $1 Coins will also be educational. Like the 50 State Quarters Program, these coins will invigorate interest in American history.”

Presidential $1 Coin Program

The Presidential $1 Coins are being introduced as a result of the Presidential $1 Coin Act of 2005, which requires the Secretary of the Treasury to mint and issue $1 coins honoring the United States Presidents in the order in which they served. According to a study commissioned by the United States Mint, about half of Americans surveyed said they are interested in collecting the Presidential $1 Coins — but according to Director Moy, 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 circulating coin, and we’re hoping to build on that success,” Director Moy said.

Traditional Subjects, Unique Design

The designs of the coins are bold and dramatic. The traditional inscriptions of “E Pluribus Unum,” “In God We Trust,” the date and the mint mark are featured on the edge of the coins making the Presidential $1 Coins unique among today’s circulating coins.

The new Presidential $1 Coins are identical in color and size to the Golden Dollar featuring Sacagawea, and have the same distinctive rim and tactile features to assist the visually impaired. The face of each coin will feature an original 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 “United States of America” and “$1.”

Distributed through Banks and Other Financial Institutions

The United States Mint and the Federal Reserve System are working together closely to make it easier for businesses and the 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 and small bags, unmixed with other dollar coins. For each new coin, 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 and bags for four weeks after the introduction of each design. When each new Presidential $1 Coin is released, the special ordering process begins again.

Presidential $1 Coin Release Schedule

Each President will be honored with a single $1 coin, regardless of the number of consecutive terms he served, except for Grover Cleveland, the only United States President to serve non-consecutive terms. He will be honored on two coins. No living former or current President can be honored on a coin.

Year    President                      Years Served

  2007    1   George Washington          1789-1797
          2   John Adams                 1797-1801
          3   Thomas Jefferson           1801-1809
          4   James Madison              1809-1817

  2008    5   James Monroe               1817-1825
          6   John Quincy Adams          1825-1829
          7   Andrew Jackson             1829-1837
          8   Martin Van Buren           1837-1841

  2009    9   William Henry Harrison     1841
          10  John Tyler                 1841-1845
          11  James K. Polk              1845-1849
          12  Zachary Taylor             1849-1850

  2010    13  Millard Fillmore           1850-1853
          14  Franklin Pierce            1853-1857
          15  James Buchanan             1857-1861
          16  Abraham Lincoln            1861-1865

  2011    17  Andrew Johnson             1865-1869
          18  Ulysses S. Grant           1869-1877
          19  Rutherford B. Hayes        1877-1881
          20  James A. Garfield          1881

  2012    21  Chester A. Arthur          1881-1885
          22  Grover Cleveland           1885-1889
          23  Benjamin Harrison          1889-1893
          24  Grover Cleveland           1893-1897

  2013    25  William McKinley           1897-1901
          26  Theodore Roosevelt         1901-1909
          27  William H. Taft            1909-1913
          28  Woodrow Wilson             1913-1921

  2014    29  Warren Harding             1921-1923
          30  Calvin Coolidge            1923-1929
          31  Herbert Hoover             1929-1933
          32  Franklin Delano Roosevelt  1933-1945

  2015    33  Harry S Truman             1945-1953
          34  Dwight David Eisenhower    1953-1961
          35  John F. Kennedy            1961-1963
          36  Lyndon B. Johnson          1963-1969

  2016    37  Richard M. Nixon           1969-1974
          38  Gerald R. Ford             1974-1977

For more information on the new Presidential $1 Coins, go to http://www.usmint.gov/$1coin .
Source: United States Mint