The Andrew Jackson dollar coin released in mid-August is the seventh coin of the long-term Presidential Dollar series from the U.S. Mint. It also represents the third type of “mini-dollar” produced by the Mint since the Susan B. Anthony dollar was introduced in 1979. While popular with collectors, these small dollar coins have yet to be widely accepted by the public in spite of several government-sponsored promotional efforts. Because of this there have been renewed calls to abolish the paper one dollar bill to make the dollar coin the dollar of choice; though of course there would not really be a choice once paper dollars were removed from circulation.

Those opposed to the idea of eliminating the dollar bill often argue the aspect of convenience. There will still be higher denomination bills to carry in the wallet, so what difference does it make if there are a few ones in the mix? Dollar coin proponents counter from a perspective of cost savings. It costs about two to three times more to mint a coin than it does to print a dollar, but a coin has an estimated life span of 15 years compared to 18 months for the paper. But those coins weigh a lot more and are not as convenient to carry, say the bill proponents, and so it goes.

Though it might seem that this coin/currency debate is a fairly recent one, it has been ongoing for over thirty years. As early as 1975, near the end of the Eisenhower dollar series, the Mint commissioned the Research Triangle Institute to study coin denominations and alternative coinage systems. In its 1976 report the Institute recommended either eliminating the dollar coin, or reducing its size to save millions on production costs. Also noted was the fact that the Eisenhower dollar was not popular with the public (other than as a keepsake), most likely because it was cumbersome to carry and use due to its large size. The Institute recommended that if kept as a denomination the dollar coin should be sized between the quarter and the half dollar. (more…)

Secretary of the Treasury Henry Paulson announced that pursuant to Public Law: 31 U.S.C. § 5112(i)(4) the United States Mint will issue a one-ounce ultra-high relief 24-karat gold coin, creating a 2009 version of what many have called the most beautiful gold piece ever made: the Ultra High Relief Saint-Gaudens $20 Double Eagle.

Aided by advancements in technology, the United States Mint now can produce, in quantity, the ultra high relief coin envisioned, but never fully realized, by renowned sculptor Augustus Saint-Gaudens in 1907.

The mintage of the new coin will be unlimited for one year. Among the production specifications approved by Secretary Paulson are the new coin’s business-strike finish and a diameter of 27 millimeters, making the new collectible coin about 50 percent thicker than other United States Mint one-ounce gold coins.

Only 2009-dated coins will be minted. The coins will go on sale in early 2009, although sales may continue into 2010 if inventory exists.

United States Mint Director Ed Moy will participate in the Opening Ceremony of the American Numismatic Association World’s Fair of Money on Wednesday, July 30, 2008, at 9:30 a.m. ET

Visitors will be able to feel the ultra high relief on plasters of the coin that will be featured at the Ultra High Relief Double Eagle Gold Coin exhibit at the United States Mint booth on the bourse floor at the World’s Fair of Money.

The Obverse: Saint-Gaudens’ Liberty, personified by a statuesque woman striding powerfully forward. Liberty is leading the way with a torch in her front hand and an olive branch in the back hand. The United States Capitol dome is also depicted in the background.

The Reverse & Edge Lettering: A young eagle flying during a sunrise is depicted on the reverse. The motto, “E PLURIBUS UNUM” is on the edge of the coin, allowing a cleaner design on the obverse and reverse.

A new collection of products featuring the 2007 Presidential $1 Coins honoring the Presidents of the United States is being introduced. The United States Mint Presidential $1 Coin Historical Signature Set features the proof version of the Presidential $1 Coin and a Presidential intaglio print from the Bureau of Engraving and Printing. The product is presented in a textured, leather-like folder which opens to reveal the intaglio print and the official Presidential signature. A Certificate of Authenticity accompanies each United States Mint Historical Signature Set.

The United States Mint Presidential $1 Coin Historical Signature Set – James Madison – is the fourth in this new collection. This product features a proof coin which is extraordinarily brilliant, with sharp relief and a mirror-like background. The frosted, sculpted foreground gives a special cameo effect. An image of President James Madison appears on the obverse of the coin and the reverse features a striking rendition of the Statue of Liberty. The Presidential $1 Coins also feature edge-incused inscriptions of the year, “E Pluribus Unum,” “In God We Trust,” and the mint mark. Each coin is mounted in a removable capsule.

Visible from the cover of the United States Mint Presidential $1 Coin Historical Signature Set is the Presidential intaglio print of James Madison printed by the Bureau of Engraving and Printing. Opening the cover reveals the official James Madison Presidential signature, courtesy of the White House Historical Association. (more…)