Future of the U.S. dollar coin: Monday Morning Brief
- Published: Sep 26, 2016, 3 AM
The dollar coin is barely used in circulation, but that hasn’t stopped one member of Congress from proposing legislation that would honor American innovators in a series of 56 coins issued over 14 years.
Full video transcript:
Good morning. Welcome to the Monday Morning Brief. I’m Jeff Starck of Coin World.
The Presidential dollar coin program has just concluded with Ronald Reagan, but a new series of dollar coins might be on the way.
Jim Himes, a congressman from Connecticut, has recently introduced legislation calling for 56 one-dollar coins to honor American Innovators. In the proposal, one coin would be issued for each state, territory and the District of Columbia.
Under the legislation, the program would continue for a 14-year period, four per year, beginning in 2017 or as soon as feasible.
If signed into law, these coins would not replace the Native American dollar program, and would only be struck in Uncirculated and Proof versions for collectors.
OPINION: Issue American Innovator quarters, not dollars
Production of the coins would include edge lettering of the year, Mint mark and E PLURIBUS UNUM motto, mirroring the Presidential and Native American dollar programs.
Now, that’s not the only element of the program that might sound familiar.
If approved, the American Innovation dollar coins would be issued in alphabetical order of the state, the district or territory represented, starting with Alabama.
Under the legislation, the common obverse is to bear a design symbolic of Liberty and include the inscription IN GOD WE TRUST.
Individual reverse designs are to reflect “a significant innovation, innovator or pioneer, or a group of innovators or pioneers” from the respective place being honored.
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A provision in the proposal prohibits the use of any portrait or bust of any person living or dead.
So, rather than showing Thomas Edison for Ohio, perhaps the coin could show a light bulb or phonograph.
If the coin would honor the late Steve Jobs, maybe the famous iPhone could grace the coin.
Instead of showing Walt Disney, a native of Missouri, such a coin could depict one of Disney’s famous theme parks or characters like Mickey Mouse.
Those are just some names of potential honorees, and it is far too early to say who would be the subjects if the proposal indeed passes.
Let us know who you would like to see honored on these coins.
Whomever it is, you can be sure that Coin World will bring you the news as it happens.
Be sure to follow us on Twitter, find us at Facebook, online at CoinWorld.com and of course in print in your mailbox.
For Coin World, I’m Jeff Starck. Happy collecting!
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 Presidential dollars 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 Native American dollars worth?
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