Do you have a few presidential coins in your collection? Are you looking to pick up a few from the bank, a dealer, or hunt them from circulation? The Presidential $1 Coin Act of 2005 was passed to honor former U.S. presidents with their coin. The program only allowed presidents who had been deceased for at least two years to be honored with their currency, making every President up to Ronald Reagan, (but excluding Jimmy Carter) eligible to receive their coin. The program is similar to the 50 State Quarters program, officially began on January 1, 2007, and formally ended in 2016.
Why Are Presidential Coins Valuable?
Not all presidential coins are valuable.
However, as with many newly-minted coin programs, there were some mint errors early only. In this case, errors occurred fairly early after minting began and within the first few months, which included missing edge inscriptions for both “In God We Trust” and “E Pluribus Unum,” as well as missing mint marks and issuance year. Additionally, some individuals found the words on the rim struck upside down, while others have found coins that were missing entire portraits on one or both sides.
While the Presidential Coin Program was intended to have a much longer run, it was initially suspended in 2011. However, the program did not end until the last eligible President, Ronald Reagan, was honored. The program officially ended in 2016 with the Reagan mint.
Finally, First Spouses were also honored under this program with uncirculated mints.
Coins may be valuable due to minting errors or rarity.
The number of circulated coins decreased as the program neared its end, although the Woodrow Wilson coin, not the Ronald Reagan coin, has the fewest number in circulation, at just 7,980,000 coins.
Congress authorizes commemorative coins that celebrate and honor American people, places, events, and institutions. Although these coins are legal tender, they are not minted for general circulation. Each commemorative coin is produced by the United States Mint in limited quantity and is only available for a limited time.
As well as commemorating important aspects of American history and culture, these Coins help raise money for important causes. Part of the price of these the coin is a surcharge that
Goes to organizations and projects that benefit the community. For example, surcharges on the U.S. Capitol Visitor Center commemorative coins helped build a new visitor center under the U.S. Capitol’s East Plaza.
Since the modern commemorative coin program began in 1982, the United States Mint
raised more than $506,301,189 in surcharges to help build new museums. Also, to maintain national monuments like the Vietnam War Memorial, preserve historical sites like George Washington’s home, support various Olympic programs, and much more.
Presidential coins have value in every sense of the word. They have marked an American tradition and are an authentic portrayal of our values as a society. A fantastic item for collectors, or fans of History, Presidential coins are a memorable gift.