The "lasts" keep coming for the United States Mint as
products for its final Presidential dollar coin hit the market.
The Mint will begin accepting orders for the 2016 Ronald Reagan $1
Coin Cover on Aug. 18 at 12 p.m. Eastern Time. The limited edition
coin cover includes two circulating finish Ronald Reagan Presidential
dollar coins from that coin’s first days of production — Jan. 6, 2016,
at the Philadelphia Mint, and Dec. 6, 2015, at the Denver Mint.
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The coins are mounted on a display card and placed inside an
envelope with a U.S. Red, White, and Blue forever stamp. The cover
also features a portrait of President Reagan and the postmark of
“August 18, 2016, Simi Valley, CA.”
Simi Valley is the home of the Ronald Reagan Presidential Library
Only 25,000 units will be produced, and the product is priced at $19.95.
Orders will be accepted at the bureau’s online catalog and at
Reagan is the last U.S. president to be honored with a Presidential
dollar coin from the U.S. Mint, so his Presidential $1 Coin Cover will
be the final edition in that product series, as well.
The Presidential $1 Coin Act of 2005, Public Law 109-145, is the law that regulates
the Presidential $1 coin series.
The enabling act, Sec. 102, 2(E), reads: " LIMITATION IN SERIES
TO DECEASED PRESIDENTS.— No coin issued under this subsection may bear
the image of a living former or current President, or of any deceased
former President during the 2-year period following the date of the
death of that President."
Since President Jimmy Carter is alive, many thought the program
would end with the Gerald Ford dollar, as the series would have to
skip over the living Carter to honor Reagan, who died in 2004.
Subsection 8 of the law provides more clarity, and justification for
striking the Reagan coins: "TERMINATION OF PROGRAM.—The issuance
of coins under this subsection shall terminate when each President has
been so honored, subject to paragraph (2)(E), and may not be resumed
except by an Act of Congress."
So, in short, once all presidents who have been deceased for at
least two years have been honored, the program is over and can't be
restarted without congressional action.
Collectors were unsure of the Reagan coin’s status until its 2016 release was confirmed in 2015.