Washington — The enactment of the American Innovation $1 Coin Act ushers in the latest numismatic coin program of the United States Mint. The Act calls for the minting and issuance of non-circulating American Innovation $1 coins for each state, the District of Columbia, and each U.S. territory in the order each State ratified the Constitution of the United States or were admitted into the Union. The program’s duration is a 14-year period that begins January 1, 2019.
The Act also authorizes a 2018 introductory coin which will be minted and issued in the latter part of this calendar year. The introductory coin will bear an obverse common to all coins in the program. It will consist of a likeness of the Statue of Liberty, and the inscriptions of “$1” and “In God We Trust.” The reverse of the introductory coin will be inscribed with “United States of America” and “American Innovators,” and it will include a representation of President George Washington’s signature on the first U.S. patent. The inscription of the year of minting or issuance, mint mark, and “E Pluribus Unum” will be edge-incused into all coins.
American Innovation $1 coins issued for 2019-2033 will bear a reverse image or images emblematic of a significant innovation, an innovator, or a group of innovators from each of the 50 states, the District of Columbia, and the territories of the United States. According to the legislation, the Secretary of the Treasury will select the designs after consultation with each Governor or other chief executive and the U.S. Commission of Fine Arts; and review by the Citizens Coinage Advisory Committee.
After the introductory coin’s release in 2018, the Mint will issue the remaining American Innovation $1 coins at a rate of four per year until the end of the program in 2033.
About the United States Mint
Congress created the United States Mint in 1792, and the Mint became part of the Department of the Treasury in 1873. As the Nation’s sole manufacturer of legal tender coinage, the Mint is responsible for producing circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces numismatic products, including Proof, Uncirculated, and commemorative coins; Congressional Gold Medals; silver and bronze medals; and silver and gold bullion coins. Its numismatic programs are self-sustaining and operate at no cost to taxpayers.
Press release courtesy of the United States Mint.
Larry Flowers says
I believe the enactment of the American Innovation $1 Coin Act is a total boondoggle and an insult to the U.S. Mint. Further I believe it has degraded the Mint to be an equal to used Avon perfume bottle collecting. It does make sense that it allows the Mint to justify keeping their multi-million dollar edge lettering press. It also helps justify the Citizens Coinage Advisory Committee which is another boondoggle. Thanks for writing this article and bringing it to the attention of the ordinary coin collector.
Tom D in SC says
Well, at least we haven’t come to putting dogs, cats, cartoon characters, super heroes, and peepers on our coins….yet
Qui Transtulit Sustinet says
We do NOT need or want more non-circulating dollars. The demand is low and DROPPING.
Strike (at least some, or better yet, nearly all) intended for circulation (how about a $2 denomination instead of $1) or forget this boondoggle that has been summarily rejected by most of the consumers it is intended for—collectors.
The Mint should be moving away from striking clad for collectors, due to: LOW and DROPPING DEMAND.
The Mint needs to focus on precious metal offerings of .999 purity or higher, including fractional offerings.