Upcoming Presidential $1 coins

[Narmuriel]

While I was reading through Public Law 109-145 I noticed some interesting things.

 

The first is that "The inscription of the year of minting or issuance of the coin and the inscriptions ‘E Pluribus Unum’ and ‘In God We Trust’ shall be edge-incused into the coin." Edge-incused for those that did not know means that the edge of the coin will be stamped with words vs. placing them on the obverse or reverse. The reason that they are doing this is to provide a larger surface on the obverse and reverse for the artwork. It will be very cool to see this in action with U.S coins. It also appears that there is a rider that will require all vendors more actively accept and dispense the $1 coin in hopes to drive up useage of the coins.

 

The second thing I noticed was that there will be a First Spouse Bullion Coin Program running concurrently with the presidential coins. These coins will be a half oz of .9999 gold with the obverse bearing the spouse of the president that is featured on the $1 coin. These will be put out at a rate of 4 per year. As if there weren't enough coins and gold coins minted in the first place. There is nothing included to say if this program(coupled with the Gold Buffalo) will be running at the same time as the AGEs or replacing them for the duration. There was no mention of mintage other than the Secratary of Commerce would set and review it. I certainly hope it stays low. Great historical and patriotic move, and lovely artwork, I am sure. But come on guys, where does this end? This move reminds me of what happened with sports cards in the late 1980s. Too many set and subsets caused the bottom to fall out of the market. Of course, this doesn't change the fact that I will be buying all of these.

 

The third thing I noticed pertained to the Lincoln cent in 2009 and after. In 2009 there will be 4 reverse designs (the obverse will remain the same), with each relating to a specific period of Lincoln's life. These are:

• his birth and early childhood in Kentucky
• his formative years in Indiana
• his professional life in Illinois
• his presidency, in Washington, D.C.

These coins will be made using the metallic content of 1909 (95% copper, 5% zinc & tin). There is also a reference to the cents being continued after 2009 with a new reverse which "shall bear an image emblematic of President Lincoln’s preservation of the United States of America as a single and united country." The use of Victor Brenner's obverse will probably continue.

[pendragon1998]

It will be very cool to see [edge-incused design elements] in action with U.S coins.

 

Sure it's different and neat and all - but you won't be able to see those design elements when the coins are in slabs, albums, or holders. Seems like a pity. Not to mention that the

 

It also appears that there is a rider that will require all vendors more actively accept and dispense the $1 coin in hopes to drive up useage of the coins.

 

Never get past the vending machine lobby groups. I can see them mandating that all new machines that are built should accept them, but no one can make them bring all the current machines up to spec. On my university campus, all of the snack vending machines won't take the $1 coin, but the new parking voucher dispensers will - which surprised me when I realized it. Almost no one uses $1 coins in their daily commerce. I'd love to, in fact, I do occasionally - but it's a big hassle because most people at places like McDonalds, the gas station, etc either don't want the coins, or don't recognize them. I tried for a time in high school in the 90's to pay for my lunch in SBA dollars, so I could afford to go through a lot of them for my collection. After three instances in a row where the lunch lady asked me for more money thinking they were quarters, I gave it up.

 

 

The third thing I noticed pertained to the Lincoln cent in 2009 and after. In 2009 there will be 4 reverse designs (the obverse will remain the same), with each relating to a specific period of Lincoln's life. These are:

• his birth and early childhood in Kentucky
• his formative years in Indiana
• his professional life in Illinois
• his presidency, in Washington, D.C.

These coins will be made using the metallic content of 1909 (95% copper, 5% zinc & tin). There is also a reference to the cents being continued after 2009 with a new reverse which "shall bear an image emblematic of President Lincoln’s preservation of the United States of America as a single and united country." The use of Victor Brenner's obverse will probably continue.

 

Good grief - I'd like to see the 4 coin release, but let that be it! The lincoln design has had 100 years. Let's change it up already!

 

On the side: You do realize that this is likely to create a second variety in 2009 of the 95% copper cents vs. coins struck on older zincolns that accidentally (or on purpose) get mixed up with the other planchets. It's almost inevitable that it will happen. Maybe even the opposite for 2008. Lots of opportunity for cherry pickers.

[ldhair]

Thanks for the link.

Lots of great info.

[astrostu]

I'm just afraid with all of this that the money I spend on coins is going to surpass that which I spend on rent.

[EZ_E]

I'm not even going to get started collecting the presidential and first wive's coins. It is modern fluff and will be years in the completion of the set. Plus, gold is just too much to commit to that route.

[Narmuriel]

I'm not even going to get started collecting the presidential and first wive's coins. It is modern fluff and will be years in the completion of the set. Plus, gold is just too much to commit to that route.

 

Agreed on the first wives' coins (although I will still buy them cause I'm a sucker for coins), but the presidential $1 coins should be a treat, and has been a long time coming. It will probably be a failure though, kinda like the quarter program.

[DC Dawg]

It will be very cool to see [edge-incused design elements] in action with U.S coins.

Sure it's different and neat and all - but you won't be able to see those design elements when the coins are in slabs, albums, or holders. Seems like a pity.

I heard that there was a discussion at the Denver ANA convention that the Mint is looking into different holders for the 2009 and beyond mint and proof sets because of the edge issue. Also, NGC has altered their holders slightly to create some space around the edges in order to see edge details. Currently, those holders are only available for coins with certain edge properties that are significant to the design of the coin. But I am sure they will expand that to the new Presidential $1 Coins.

 

Also, the new ANACS holder is completely clear. Not only can you see both sides, but you can also see the edge. It doesn't matter what coin you slab, the edge is visable. A feature of the new ANACS holder I like is the top label. It makes for easy storage and viewing when you can put the slabs in a vertical box and know what's in the box at a glance.

 

I have not heard from other grading services, including PCGS, on edge viewing.

 

Scott

[DC Dawg]

Thanks for the link.

Lots of great info.

 

SHAMELESS PLUG: If you are looking for numismatic links, check out the Coin Collectors Blog. On the left side, there is a link that will lead you to a plethora of numismatic links, including a section on bills and laws covering numismatics.

 

Scott

[TJ'S Coins]

The gold presidential wive's series will be too rich for my blood and not in my collecting tastes. Too many coins over too long of time when there are so many wonderful older ones to purchase.

 

The dollar presidential coins are supposed to be circulating. Is that correct? Given the reluctance of people to use them now I wonder how many will actually see use in daily transactions. My guess is very few. Until we eliminate the dollar bill any coins bearing that denomination are simply dust collectors in mint storage bags. Maybe in 60-80 years they will acquire spectacular rainbow tone from all those years in musty old basements. Given the metallic composition they will probably be down right ugly.