WASHINGTON — The United States Mint has unveiled the Presidential $1 Coins during a ceremony at the Smithsonian Institution's National Portrait Gallery.
The Presidential $1 Coin Program features a systematically rotating design and the first four $1 coins will commemorate George Washington, John Adams, Thomas Jefferson and James Madison.
The designs of the coins are bold and dramatic, with traditional inscriptions moved to the edge to allow for larger images of the presidents.
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The Presidential $1 Coins will be shipped to financial institutions in rolls, unmixed with other dollar coins. For each new design, financial institutions may order and store the coins up to two weeks prior to the introduction so they will have supplies on hand for the release date. The coins will be available in unmixed rolls for four weeks after the introduction of each design.
"The new Presidential $1 Coins are an educational and fun way to learn about former Presidents," said United States Mint Director Edmund C. Moy. "Our research indicates that, like the 50 State Quarters coins, the Presidential $1 Coins will be popular with millions of Americans."
According to a study commissioned by the United States Mint, about half of all Americans are interested in collecting the Presidential $1 Coins, but their appeal does not end with collecting.
"Congress recognized that the 50 State Quarters Program showed how a systematically changing design can spark public interest in a coin and we're hoping to build on that success," Moy said.
Each president will be honored with a single $1 coin, regardless of the number of consecutive terms he served. Grover Cleveland, the only United States President to serve non-consecutive terms, will be honored on two coins. No living former or current president may be honored on a coin.
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