Coin Blog

Yesterday, the US Mint released the design images for next year’s Presidential Dollar coin releases. The 2009 coins will feature William Henry Harrison, John Tyler, James K. Polk, and Zachary Taylor. Compared to prior releases, these are some relatively lesser known presidents.  The first president to be honored, William Henry Harrison, actually only served 32 days in office before his death in 1841.

Below are the designs for the 2009 Presidential Dollars in the order of release:

William Henry Harrison Presidential Dollar

John Tyler Presidential Dollar

James K. Polk Presidential Dollar

Zachary Taylor Presidential Dollar

By memorandum to its network of authorized bullion purchasers, the United States Mint outlined its latest steps to deal with the unprecedented demand for gold and silver bullion coins. The new measures including halting production for some options of Gold and Platinum Eagle bullion coins.

According to the memo, most fractional Gold and Platinum Eagle options and American Buffalo coins have been halted for the remainder of 2008 or will be halted after current supplies of blanks are exhausted. The US Mint will concentrate on producing one ounce Silver Eagles and one ounce Gold Eagles.

The memo is included below:

October 6, 2008

MEMORANDUM TO ALL AMERICAN EAGLE AND AMERICAN BUFFALO AUTHORIZED PURCHASERS

SUBJECT: 2008-Dated Bullion Products

Due to the extreme fluctuating market conditions for 2008, as well as current market conditions, gold and silver demand is unprecedented and the demand for platinum is unusually high.

The United States Mint has worked diligently to attempt to meet demand, however, blank supplies are very limited and it is necessary for the United States Mint to focus remaining bullion production primarily on American Eagle Gold One Ounce and Silver One Ounce Coins.

For the remainder of 2008 bullion inventory, the following will apply:

American Eagle Gold Bullion Coins

One Ounce Coins will remain on allocation each week. Allocation amounts are based on available quality blanks each week.

One Half Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.

One Quarter Ounce Coins: Inventory was depleted last week. No more coins will be produced for 2008.

One Tenth Ounce Coins: Inventory was depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.

American Buffalo One Ounce Bullion Coins

Inventory was depleted and sales were suspended in late September. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.

American Eagle Silver Once Ounce Bullion Coins

American Eagle Silver One Ounce Coins will remain on allocation each week. Allocation amounts are based on available quality blanks each week.

American Eagle Platinum Bullion Coins

All denominations were depleted last week. More coins will be produced based on current blank supplies, however, once that remaining inventory is depleted, no more coins will be produced for 2008. You will be notified when these are available for sale.

We will keep you updated as more information becomes available.

Mint News Blog provides some perspective on what this might mean for the US Mint’s so-called collectible versions of the bullion coins such as the Uncirculated coins bearing the “W” mint mark and the Proof coins. Read the full post  US Mint Halts Gold & Platinum Eagle Production.

On September 16, this article appeared discussing a small UK firm which has produced around 300 coins featuring presidential candidate Barrack Obama. The coins feature an image of Obama and the motto “President of the United States of America.”

Political bloggers seized on the new coins as an example of Obama’s “hubris and self-absorption.” Many took offense at the apparent presumptuousness of the motto, which declared him President before the election. A few others drew paralleld to Julius Caeasar, who was the first Roman emporer to put his image on coins.

Let’s investigate or at least examine another point of view. First of all, this is not the first time Obama has appeared on a coin. Back in May 2008, a Las Vegas firm produced a one ounce silver medallion bearing the image of Obama. The coins are still offered for sale at $100 each.

Secondly, living political figures on privately minted coins seem to be relatively common.  George W. Bush appears on several privately minted coins. Other presidential candidates have been featured on coins such as Bob Dole and this gem for John Kerry. On the John Kerry coin, note the motto, “44th President of the United States.”

Third, even though the initial article states that some Democrats endorsed the idea, there is no reason to believe that Obama personally had any hand in the creation of the coins.  I have not seen anything that confirms whether Obama explicitly or implicity approved or even acknowledged the minting of the coins.

Today the United States Mint unveiled the designs for the eagerly anticipated 2009 Lincoln Cent.

Next year, Abraham Lincoln’s Bicentennial will be celebrated with four different reverse designs for the penny that has borne his images for the past 100 years. The first new coin will enter circulation on February 12, 2009.

Each design is meant to represent a different period of Lincoln’s life.

2009 Lincoln Cent Design - Birth and Early Childhood in Kentucky

2009 Lincoln Cent Design -  Formative Years in Indiana

2009 Lincoln Cent Design - Professional Life in Illinois

2009 Lincoln Cent Design - Presidency in Washington, D.C.

What are Presidential Oath Dollars?

It’s a question a lot of people seem to want to figure out lately. Earlier this month, the Home Shopping Network offered a small number of these coins for $79.95. They reportedly sold out in 30 minutes creating a lot of excitement. This post will summarize some of the information available on the coins.

The coins were produced by the Denver Mint. An aluminum ring was placed around a regular Presidential Dollar. The ring has an inscription of the Presidential Oath, “Preserve, Protect and Defend the Constitution of the United States.” The coins were supposedly limited to only 1,000 per President and were produced for the first six Presidential Dollars.

Online reports state that the coins were originally available at the Denver Mint Gift Shop. They were not available from the US Mint’s Online Catalog or at the Philadelphia Mint.

The Home Shopping Network sold coins which had been encapsulated and graded by ANACS. The coin was also put in a special custom oak presentation box.

While the quick sell out at HSN clearly shows some initial popularity for the coins, in the longer term the prospects are not as clear. The coins are basically regular Presidential Dollars encased with an aluminum ring. The fact that they were produced by the Denver Mint and only in a limited quantity adds an interesting aspect, but I suspect the novelty of the idea may soon wear off. These coins may go the way of Colorized State Quarters.

Learn more about Presidential Dollars.