2010 D GOLD ABRAHAM LINCOLN PRESIDENTIAL DOLLAR (one) $1 COIN Uncirculated
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2010 D GOLD ABRAHAM LINCOLN PRESIDENTIAL DOLLAR (one) $1 COIN Uncirculated :
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GOLD ABRAHAM LINCOLN PRESIDENTIAL DOLLAR one $1 COIN
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2010 D Presidential Dollars : Abraham LincolnGolden DollarSeries:Presidential Dollar Coins
Mintage:49,000,000Minted at:Philadelphia
Designer - Engraver:Don Everhart Metal Composition:88.5% Copper - 6% Zinc - 3.5% Manganese - 2% Nickel
Diameter:26.5 mmMass / Weight:8.1 grams
What this coin looks like (obverse, reverse, mint mark location, special features, etc.):
Presidential $1 Coin ProgramFrom Wikipedia, the free encyclopediaPresidential One Dollar CoinUnited StatesValue1U.S. dollarMass8.100g (0.26troyoz)Diameter26.49mm (1.043in)Thickness2.00mm (0.0787in)EdgeEngraved: text \"E pluribus unum\", the coin\'smint mark, its year of issuance, and 13five-pointed stars(prior to 2009: text \"In God We Trust\")CompositionCopper withmanganese of minting2007–2011 (Circulation)
2012–2016 (Collectors Only)Catalog number-ObverseDesignPortrait of US PresidentsDesignerVariousDesign date2007–2016ReverseDesignStatue of LibertyDesignerDon EverhartDesign date2007
ThePresidential $1 Coin Programis part of anAct of Congress,Pub.L. 109–145, 119Stat.2664, enacted December22, 2005, which directs theUnited States Mintto produce$1 coinswith engravings of relief portraits ofU.S. presidentson the obverse.
From 2007 to 2011, presidential $1 coins were minted for circulation in large numbers, resulting in a large stockpile of unused $1 coins. Since 2012, new presidential coins have been minted only for collectors.
Contents[hide]- 1Legislative history
- 2Program details
- 2.1Minting errors
- 2.2Stockpile and suspension of production
- 2.3The program\'s end
- 3Coin details
- 4First Spouse program
- 5Other provisions
- 6See also
- 7References
- 8External links
SenateBill 1047 was introduced on May 17, 2005, by SenatorJohn E. Sununuwith over 70 co-sponsors.
It was reported favorably out of theU.S. Senate Committee on Banking, Housing, and Urban Affairswithout amendment on July 29, 2005. The Senate passed it with a technical amendment (S.AMDT.26760), byunanimous consenton November 18, 2005. TheHouse of Representativespassed it (291–113) on December 13, 2005. (A similar bill, H.R. 902, had previously passed in the House, but it was the Senate bill which was passed by both chambers.) Theengrossed billwas presented to presidentGeorge W. Bushon December 15, 2005, and he signed it into law on December 22, 2005.
Program details[edit]The program began on January 1, 2007, and is similar to the50 State Quartersprogram in that it will not end until every eligible subject is honored. The program is to issue coins featuring each of four presidents per year on the obverse, issuing one for three months before moving on to the next president in chronological order by term in office. The U.S. Mint calls it the Presidential $1 Coin Program.[1]
The reverse of the coins bears theStatue of Liberty, the inscription \"$1\" and the inscription \"United States of America\". Inscribed along the edge of the coin is the year of minting or issuance of the coin, the mint mark, 13 stars, and also the legendE Pluribus Unumin the following PLURIBUS UNUM; before 2009,In God We Trustwas also part of the edge lettering. The legend \"Liberty\" is absent from the coin altogether, since the decision was made that the image of the Statue of Liberty on the reverse of the coin was sufficient to convey the message of liberty. The text of the act does not specify the color of the coins, but per the U.S. Mint \"the specifications will be identical to those used for the current Golden dollar\".[2]TheGeorge Washington$1 coin was first available to the public on February 15, 2007, in honor ofPresidents\' Day, which was observed on February 19.
This marks the first time since theSt. Gaudens Double Eagle(1907–33) that the United States has issued a coin with edge lettering for circulation. Edge-lettered coins date back to the 1790s. The process was started to discourage theshavingof gold coin edges, a practice which was used to cheat payees. In December 2007, Congress passedH.R. 2764, moving \"In God We Trust\" to either the obverse or reverse of the coins.[3]This is the same bill that created a program that will include quarters forWashington, D.C.,Puerto Rico,Northern Mariana Islands,Guam, theU.S. Virgin Islands, andAmerican Samoa.
The act had been introduced because of the failure of theSacagawea $1 cointo gain widespread circulation in the United States. The act sympathized with the need 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 new coins (as the public generally responded well to the State Quarter program). The program is also intended to help educate the public about the nation\'s presidents and their history. Should the coins not catch on with the general public, theMintis hoping thatcollectorswill be as interested in the dollars as they were with the State Quarters, which generated about $4.6billion inseigniorage(i.e.the difference between the face value of the coins and the cost to produce them) between January 1999 and April 2005, according to a report by theCongressional Budget Office.[full citation needed]
Stack showing writing on edgeUnlike the State Quarter program and theWestward Journey nickel series, which suspended the issuance of the current design during those programs, the act directed the Mint to continue to issueSacagawea dollarcoins during the presidential series. The law states that at least one in three issued dollars must be a Sacagawea dollar. Furthermore, the Sacagawea design is required to continue after the Presidential Coin program ends. These requirements were added at the behest of theNorth Dakotacongressional delegation to ensure that Sacagawea, whom North Dakotans consider to be one of their own, ultimately remains on the dollar coin.
However, Federal Reserve officials indicated to Congress that \"if the Presidential $1 Coin Program does not stimulate substantial transactional demand for dollar coins, the requirement that the Mint nonetheless produce Sacagawea dollars would result in costs to the taxpayer without any offsetting benefits.\" In that event, the Federal Reserve indicated that it would \"strongly recommend that Congress reassess the one-third requirement.\"[4]The one-third requirement was later changed to one-fifth by theNative American $1 Coin Act,[5]passed on September 20, 2007, and Sacagawea dollars were only 0.8% of the total dollar coins produced through November 2007.[6]
Previous versions of the act called for removing from circulation dollar coins issued before the Sacagawea dollar, most notably theSusan B. Anthony dollar, but the version of the act which became law merely directs theSecretary of the Treasuryto study the matter and report back to Congress. The act does require federal government agencies (including theUnited States Postal Service), businesses operating on federal property, and federally funded transit systems to accept and dispense dollar coins by January 2008, and to post signs indicating that they do so.[7]
Minting errors[edit]On March 8, 2007, the United States Mint announced, on February 15, 2007, that an unknown number ofGeorge WashingtonPresidential $1 coins were released into circulation without their edge inscriptions (the U.S. mottoes, \"In God we trust\" and \"E pluribus unum\", the coin\'s mint mark, and its year of issuance; i.e.E PLURIBUS UNUM•IN GOD WE TRUST•2007X(whereXis eitherPorD)).[8]Ron Guth, of theProfessional Coin Grading Service, estimated at least 50,000 coins were released without the edge inscriptions. The first such coin discovered was sold onfor $600, while later coins were selling for $40–$60, as of late March 2007.[9][10]Because one of the inscriptions missing from the coins is the motto \"In God we trust\", some articles on the subject have referred to them as \"Godless dollars\".[11][12]Fake \"Godless dollars\" have been produced with the edge lettering filed off.[13]
Also, John Adams Presidential dollars have been discovered with plain edges. They are fewer in quantity than George Washington plain-edge dollars, making them rarer, thus more expensive. A more frequently encountered edge lettering error for the John Adams dollar is a coin with doubled edge lettering. This error occurs when a coin passes through the edge lettering machine twice.[14]Most examples of the doubled-edge-letter John Adams dollar are from the Philadelphia Mint (Denver Mint issues are comparatively scarce). They are seen in two varieties: 1) with both edge lettering inscriptions reading in the same direction, called \"overlapped\", and 2) with the two inscriptions running in opposite directions—i.e., inverted or upside-down relative to one another—called \"inverted\".
In early March 2007, a Colorado couple found a dollar coin that was not stamped on either side, missing the portrait of George Washington and the Statue of Liberty.[15]
Some of the coins have the words on the rim struck upside down (president face up). These are not minting errors, but rather a variation created by the minting process. Such upside-down coins have been sold on sale websites for greater than their face value, though they represent roughly 50% of the minted population.[16]
Stockpile and suspension of production[edit]A graph showing mintages of issues minted from 2007 to 2011By 2011, 1.4 billion uncirculated $1 coins were stockpiled,[17]which, if stacked flat, could reach fromLos AngelestoChicago. By 2016, this number might have reached two billion.[18]
Rep.Jackie Speierof California circulated a \"Dear Colleague\" letter recommending that the U.S. not produce any dollar coins. She was planning to introduce legislation calling for the immediate halting of all dollar coin programs.[19]
The United States Government Accountability Office has stated that discontinuing the dollar bill in favor of the dollar coin would save the U.S. government about $5.5 billion over 30 years.[20]
On December 13, 2011, Vice PresidentJoe offerenand Treasury SecretaryTimothy Geithnerannounced that the minting of Presidential $1 coins for circulation would be suspended.[17]Future entries in the program, beginning with those ofChester A. Arthur, would be issued in reduced quantities, only for collectors.[21]
The program\'s end[edit]The act specifies that for a president to be honored, the former president must have been deceased for at least two years before issue.[22][23]The series will end in 2016, after honoringRonald Reagan, since neither Ronald Reagan\'s immediate predecessor,Jimmy Carter, nor any of Reagan\'s successors (George H. W. Bush,Bill Clinton,George W. Bush, andBarack Obama) are eligible, all of whom were still living on August 14, 2015. On February 12, 2015 the US Mint confirmed that President and Mrs. Reagan will be getting coins in 2016 in a letter to RepresentativeWilliam P. Huizenga(R-MI).[24]The Mint also stated the work had started on designs for the Reagan coins.[24]
Once the program has terminated, producing coins for those presidents not yet honored would require anotherAct of Congress.[25]
Coin details[edit]Dollar coins were issued bearing the likenesses of presidents, as follows:[26]
2010 D GOLD ABRAHAM LINCOLN PRESIDENTIAL DOLLAR (one) $1 COIN Uncirculated :
$1.99