Upcoming release of Ronald Reagan $1 Coin Cover set
- Published: Aug 17, 2016, 5 AM
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 and Museum.
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 1-800-USA-MINT (872-6468).
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.
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