Unit 1 Review Us History 1 & Reconstruction Answer Key
Take a look in your car'southward loving cup holders or that jar of loose modify lurking in the kitchen cabinet. Do any glints and glimmers of gold grab your eye? If and so, y'all might count yourself among the lucky owners of a Presidential $1 — a relatively rare and decidedly novel type of coinage that features engravings of U.Southward. presidents' faces and the Statue of Freedom, all washed up in a warm, aureate metal blend that we don't encounter also often in U.South. currency.
For just a few years in the early 2000s, the U.S. Mint oversaw the Presidential $1 Coin Plan, which produced special coins that honored, as you lot might have guessed, American presidents. But non every U.S. head of state ended upwards with their likeness boldly built-in in bas-relief on the faces of our spare change. And that'southward just one element of what makes these coins and so interesting. Whether you fancy yourself an aspiring numismatist or an armchair historian, you'll enjoy broadening your agreement of this U.S. Mint plan — and maybe even learning what these coins could be worth today.
Where Did the Idea for the Presidential Gilded Dollars Come From?
In 2005, Congress passed the Presidential $1 Coin Act, and Section 101 of the act offers an interesting explanation for the reason why. The Sacagawea dollar coins that were introduced into apportionment in the United states a few years earlier had not proved very popular — people merely simply didn't like using dollar coins for transactions. But Congress believed that having a widely circulated $1 money available was important for supporting certain economic sectors and situations, including "public transportation, parking meters, vending machines and depression-dollar value transactions." If there were no dollar coins widely used and in circulation, merchants and vendors would incur greater costs, some members of Congress argued, and subsequently would be forced to pass those costs on to consumers.
At the same fourth dimension, Congressional leaders had taken note of how popular the 50 States Commemorative Money Program had been — especially from an education perspective. Each coin used land-specific imagery to convey an interesting factoid, meaning each country's coin was unique. That made the human activity of collecting them highly-seasoned, too.
Armed with the results of a survey that showed Americans would actively seek a new coin "if an attractive, educational rotating design were to be struck" on it, the Presidential $1 Coin Program was born. Nevertheless, information technology'due south important to remember that these state coins were quarters, not dollars, and thus didn't face the same barriers to widespread utilise every bit dollar coins. The presidential gilded dollars didn't replace the Sacagawea dollar coin first minted in 2000, either, just were to be produced aslope that coin.
Big plans grew for the presidential dollars, and Congress went well beyond only creating the program. It stipulated very specific requirements with the goal of returning to the "Aureate Age of Coinage" initiated past President Theodore Roosevelt and spearheading an endeavor to create coins that didn't only serve as tools for commercial exchange but that were also aesthetic and beautiful.
How Did Congress Programme to Return to the "Aureate Age of Coinage"?
The Presidential $1 Coin Human action of 2005 proposed a list of specific requirements for the decorative new denomination to encourage a render to a legendary fourth dimension in history when coins grew to be regarded as fine art. Half dozen of the many requirements the U.Due south. Mint and the coin designers were directed to incorporate include the post-obit:
Each money should be "an object of aesthetic dazzler in its ain right."
"Mint marks" such as mottos, emblems and the inscription of the year should exist placed on the edges to allow for "larger and more dramatic artwork" on the obverse and contrary of each coin.
The "tails" side of the coin would display a likeness of the Statue of Liberty large enough to exist dramatic, only not and so large that the coin would seem 2-headed.
The "heads" side of the money would bear witness the name and likeness of a president, along with basic data near that president, including their term(s) of role and the order of their period of service.
Each twelvemonth, $i coins would exist produced to award four presidents until all presidents were honored.
The project would be express in scope to deceased presidents, not living current or erstwhile presidents. Featured presidents needed to accept been deceased for at least two years before appearing on the coins.
And then, how were these stipulations meant to hearken back to coinage's purported "aureate age"? A few years after taking office in the early on 20th century, President Theodore Roosevelt sent a letter to then-Secretarial assistant of the Treasury Leslie Shaw explaining how U.Southward. coinage was "artistically of atrocious hideousness" — a scathing take on the appearance of American money. Roosevelt also asked Shaw if the Treasury would consider employing Augustus Saint-Gaudens, a Beaux Arts-era sculptor, to create some coin designs that amend represented the state via their beauty. Equally a result, Saint-Gaudens created two coins that have get beloved among collectors: the $10 eagle and the $20 double hawkeye, both of which featured depictions of Lady Freedom and — yes — eagles.
The requirement for the Presidential $1 coins to characteristic the Statue of Liberty is a definite nod to the Saint-Gaudens designs and the "gilded era" of coinage, only the level of detail — that need for "larger and more dramatic artwork" — is another. The $twenty double eagle coin reportedly needed to undergo xi separate strikes to bring out the high level of particular of the design; the coins' faces were and then intricate and their relief so loftier that bankers couldn't stack them properly. While that wasn't what Congress had in mind when passing the 2005 coin act, that's the spirit in which the regime wanted the presidential dollars to exist designed: ample item and beauty to appropriately honor the leaders stamped across the coins' faces.
Does Every President Have a Golden Presidential Dollar?
In total, xl American presidents have been honored with golden presidential dollars. The excluded presidents are Jimmy Carter, Pecker Clinton, George W. Bush, Barack Obama and Donald Trump, who haven't been honored on coins because they're even so living — and who might not be honored on presidential dollar coins anytime soon. Aside from the fact that they're not deceased, what's the reason for this exclusion?
In 2011, Vice President Joe Biden and Secretary of the Treasury Timothy Geithner paused the Presidential $1 Coin Program as a cost-cut measure. At the time, the U.S. Federal Reserve had stockpiled enough of these $1 coins — more than a billion — to come across need for at least a decade. Biden and Geithner noted that the conclusion to stop the program would save taxpayer dollars because, according to a certificate released by the Treasury, "minting $1 coins that ultimately terminate up sitting in Federal Reserve Bank vaults –— and serve no useful purpose for businesses, financial institutions and consumers— is just not a prudent utilize of taxpayer resources." Ending production of these coins was a move that would help the authorities reach its goal of creating less waste matter and would complimentary upwards taxpayer money in the process.
By the fourth dimension the programme was terminated, the Mint had produced presidential golden dollars for all deceased presidents up to and including Ronald Reagan and would produce no more than — save for a four-year special run of coins produced until 2016 for collectors, along with i other exception. In Feb 2019, Senator John Cornyn introduced a bill for the production of a Presidential $1 coin honoring President George H. W. Bush-league. The President George H. Westward. Bush and First Spouse Barbara Bush Coin Deed was passed into law in Jan of 2020, and the design of Bush Sr.'southward coin was revealed on December 4, 2020.
How Many Presidential Golden Dollars Are Out There?
Over 5 billion golden presidential dollars were produced under the Presidential $ane Coin Program, not including the money honoring President George H. Due west. Bush. The U.S. Mint produced the coins at its facilities in Denver, Colorado, and Philadelphia, Pennsylvania. The president honored with the highest total mintage (the number of coins produced) is President George Washington, with over 340,000,000 of these gilded coins begetting his likeness having been produced. At the other stop of the spectrum, the president with the lowest mintage is Woodrow Wilson at 7,980,000.
Production numbers dropped significantly midway through the running of the Presidential $1 Money Program. Of the first twenty presidents from Washington to Garfield, no leader was honored with a mintage of fewer than 72,660,000 coins (President Andrew Johnson). Those who served after President Garfield (presidents Arthur to Reagan, skipping President Carter) were honored with far fewer coins. The highest mintage among those presidents was President Cleveland (with 2 divide runs of 9,520,000 and 14,600,001) followed closely by President Reagan (13,020,000).
Are Presidential Dollars Worth Annihilation?
Today, you can buy presidential golden dollars from the U.S. Mint at specified times, though the coins are not role of its standard catalog. Until 2011, the coins were distributed past the Mint to banks and financial institutions, but that'southward no longer the case. The Mint still releases Presidential $ane coins into the "secondary market," where y'all can find them bachelor for sale online and from money dealers. The U.S. Mint also releases 250-coin bags and rolls of the dollar coins, which are typically available through dealers. For a brief time beginning in 2008, buyers could even order them through a program called the $1 Coin Direct Send Plan — but the program didn't last likewise long.
As for their value? Most of them are worth the amount stamped on their faces — $1. At dealers or from collectors, some earlier-mintage coins may be priced higher simply based on the lower number of such coins available. Proof coins, which are samples made to check the dies that cut and stamp the coins, sometimes sell for up to $x apiece. The most valuable of the golden presidential dollars are those that were produced with errors. One item 2007 mintage of coins honoring President George Washington had missing edge lettering, which can see those particular coins selling for $v,000 or more than.
Volition yous go rich off Presidential $i coins? Not likely, but, similar collecting other objects, at that place'due south plenty of fun in the chase and in learning the history of these coins and presidents — which, of form, was part of Congress' aim in the showtime place.
Source: https://www.reference.com/history/history-united-states-golden-presidential-dollars?utm_content=params%3Ao%3D740005%26ad%3DdirN%26qo%3DserpIndex
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