Bush Approves Presidental Dollar Coins

[quaoar]

http://www.washingtonpost.com/wp-dyn/content/article/2005/12/22/AR2005122201251.html

WASHINGTON (AP) — New dollar coins featuring all 37 of the nation’s dead presidents will begin rolling out of the U.S. Mint in 2007 under a bill President Bush signed into law on Thursday.

Lawmakers hope the coins — and an accompanying $10 gold piece for collectors that features former first ladies — will be a big money raiser for the government like the 50-state quarter program. They also hope the dollar pieces will spur interest in the Sacagawea dollars, which have been little-used.

The front of the new dollar coins will depict former presidents, but not those who are living or have been dead for less than two years; the backs of the coins will show the Statue of Liberty.

Four coins a year will be issued, beginning in 2007, in the presidents’ order of service. The treasury secretary will have authority over the designs. The bill also creates a gold bullion coin program bearing images of former first ladies and emblems of their causes on $10 coins. Companion coins for those presidents who had no spouse will show images of liberty and themes of the presidents’ tenures. The coins will be 99.99 percent pure gold.

[Cha]

1. That's all he's

good for.

[JudyM]

33. More like a dollar in debt... n/t

[orwell]

2. The Sacagawea Dollars...

...are beautiful coins. One of the nicest US Coins I have ever seen.

[quaoar]

3. Except that the metal content

needs to be tweaked. The coins tarnish quickly in circulation and turn an ugly brown.

[orwell]

13. Mine turned...

a light coppery gold. They're beautiful.

[quaoar]

17. You probably haven't seen

some of the ones that have been in actual circulation for a while. Not many of them get circulated in the first place. But when you see one that has been out there it's not too pretty.

[trogdor]

19. How would you know?

I rarely see one that isn't fresh from the mint bag. Dated 2000.

FWIW, Canadian loonie coins tarnish just the same. Short of making them out of gold, I doubt you'll keep these things from going brown.

[ret5hd]

4. better than these? ...

[quaoar]

6. Or this

[quaoar]

8. Or even this

[orwell]

12. Okay...

...I own some of those as well...

[orwell]

11. Another Favorite...

I own some ;)

[brentspeak]

14. What is that? A gold dollar?

Real gold?

[mcscajun]

15. Looks like a Gold Eagle coin to me. Legal tender once at $20

A beautiful thing from the days of the Gold Standard. :)

[quaoar]

18. That's the St. Gaudens design

on the $20 gold piece. The design was brought back for the gold eagle buillion coin that you can buy today in various sizes.

[ret5hd]

26. wait till these come out...

http://www.taxfreegold.co.uk/newsusmintpressreleaseapril2005.html

United States Mint to Develop 24-Karat Gold Bullion Investment Coin Program
24-Karat Gold Collector Proof Coins to Follow
WASHINGTON 19th April 2005
The United States Mint is announcing today that it will develop a program to manufacture 24-karat (99.99% fineness) uncirculated gold bullion investment coins in early 2006. This will mark the first time that the United States Mint will produce 24-karat gold coins. Upon completion of a successful test strike, the designs, specifications, quantities and denominations will be considered. Possible themes for the images on the 24-karat gold bullion coins will be presented by teleconference at the April 28, 2005 meeting of the Citizens Coinage Advisory Committee at the United States Mint in Washington. The potential global market for 24-karat gold bullion coins is estimated at $2.4 billion.

“The United States Mint intends to match and exceed world class business practices with this new 24-karat gold bullion coin,” said Director Henrietta Holsman Fore. “There is a demand, both here and abroad, for 24-karat gold coins. We want to meet this demand by providing the highest quality and most beautiful coins in the world, the standard that investors and collectors have come to expect from the United States Mint.”


It is expected that the program will have two phases, starting with an investor-grade uncirculated 24-karat gold bullion coin, followed by a 24-karat numismatic collector proof coin. The Treasury Secretary would approve the designs, denominations and quantities of the coins.


The United States Mint is currently the world’s largest manufacturer of 22-karat (91.67% fineness) gold bullion investment coins, as well as silver and platinum bullion coins. The United States Mint’s 22-karat American Eagle gold bullion program will continue. The 22-karat American Eagle is the world’s top gold bullion coin with 95% of sales occurring in North America. However, there is an international market for a 24-karat coin, which is becoming the industry standard.


The United States Mint intends to produce the new 24-karat gold bullion coins for both domestic and foreign investors, coin and precious metal dealers, banks, brokerage firms and other companies, who would obtain them through authorized purchasers. The United States Mint approves authorized purchasers after ensuring that they have met rigorous standards.


Purchases of foreign-minted 24-karat gold coins represent almost a third of all gold bullion coins purchased annually in the United States market. Currently, 60% of all global bullion sales are of 24-karat gold products.

Gold jumped $6 per ounce following this news.

[Lorien]

27. Love 'em, can't find 'em, but I wish they were a different size and

shape!

[politicat]

31. Go to a post office with a vending machine.

They have them. The vending machines give out saccies.

(I buy books of stamps with 20s just so I can get Saccies. I love them.)

[aquart]

5. Looking forward to his.

[mcscajun]

16. Ha!

:rofl: :bounce: :party: :silly: :beer: :thumbsup: :beer: :silly: :party: :bounce: :rofl:

[Turbineguy]

7. Two years dead eh?

Nah, I'm not going there......

[bucknaked]

10. Probably going to start the series with the most recently deceased, too.

...and work their way back.

[baldguy]

9. What will you do with your Reagan Dollar?

Should I stamp a swastika into it? Or try to carve a depiction the blood of innocents into his face?

[quaoar]

20. How about the Nixon dollar?

Or the Warren Harding dollar or the herbert Hoover dollar?

Groan.

[GoddessOfGuinness]

32. I swear to you...every RayGun dollar that comes my way

will be given to homeless people.

[TheCowsCameHome]

21. What will Chimpy's look like when the time comes?

[stepnw1f]

23. a huge x

or maybe the titanic sinking

[katty]

22. head chimp on coin too?

[RUMMYisFROSTED]

24. Are brain-dead Presidents included?

[rd_kent]

25. The Chimp must LIVE FOREVER!!!!

Cause if he goes, we'll have to see his chimp face on a fricking coin!!! He must LIVE I tell you!!!

[WannaJumpMyScooter]

29. he will not be elligible, as a felon

I doubt we will see ** on a coin, save some kind of coup.

[quaoar]

30. Bush will never be on one of these coins

It's a four-coin-a-year program starting in 2007. It'll take about 10 years to get through all the presidents. And to qualify, he would have to have been dead for two years before his turn comes up. So unless Bush dies by 2015, he won't qualify.

[seriousstan]

28. Great idea. The state quarters are a great example of this idea.

Perfect for people starting out, such as kids. They can collect them as they come across them in change. It also would be a fantastic (and cheap) gift for the budding young numismatist.