Introduction of the American Innovation $1 coins if authorizing legislation is approved won't affect production of the annual Native American $1 coins. Original images courtesy of U.S. Mint.
Legislation authorizing a 56-coin commemorative small dollar program honoring American innovation was introduced Sept. 14 in the House by Rep. Jim Himes, D-Conn.
The American Innovation $1 Coin Act, H.R. 6025, seeks numismatic dollar coins in Proof and Uncirculated finishes in quantities to be determined by the Secretary of the Treasury.
Himes' legislation was subsequently referred to the House Committee on Financial Services.
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The legislation would not interrupt production of the annual Native American dollars, which are offered as numismatic products above face value in Proof, Uncirculated, Enhanced Uncirculated and circulation-quality finishes.
The legislation seeks to authorize the American Innovation dollar coins for a 14-year period, four per year, beginning in 2017 or as soon as economically feasible.
Like the America the Beautiful quarter dollars, the American Innovation $1 Coin Act seeks one coin to be issued for each of the 50 states, the District of Columbia and the five U.S. territories of the Commonwealth of Puerto Rico, Guam, American Samoa, U.S. Virgin Islands and Commonwealth of Northern Mariana Islands.
The common obverse is to bear “a design symbolic of Liberty” and include the inscription IN GOD WE TRUST.
The 56-individual reverses are to be a designs that reflects “a significant innovation, an innovator or pioneer, [or] a group of innovators or pioneers” from the state, District of Columbia or U.S. territory honored. A provision in H.R. 6025 prohibits the use of any portrait or bust of any person living or dead. The reverse is also to bear the denomination as $1 and include UNITED STATES OF AMERICA.
The series would continue the placement of incuse edge inscriptions as on the Presidential and Native America dollars: the date and Mint mark and E PLURIBUS UNUM.
The American Innovation dollar coins are to “be issued in alphabetic order of the State, the District or territory represented, starting with Alabama.”
The composition will remain manganese-brass-clad, the same composition as that used for the Native American dollar planchets and those for the Presidential $1 Coin Program, which ends in 2016 with the Ronald Reagan Presidential dollar as the final issue in that program.
U.S. coins mentioned in this article:
Presidential dollar: The Presidential $1 Coin Act of 2005 authorized the production of Presidential dollars coins for circulation as well as the First Spouse bullion coin program, which also included bronze medals. How much are they worth?
Native American dollar: The Native American $1 Coin Act, signed into law in 2007, authorizes a new reverse design annually for the Sacagawea dollar and the placement of incused lettering on the coin's edge. How much are they worth?