Law Requires End of American Eagle $1 Coins!

itsnotjustme · December 4, 2006 8:02AM

Guess what? It may be inadvertent. It may be subsequently changed. It is likely unintended. But it is law.

The law creating the presidential dollars states:

<< (9) REVERSION TO PRECEDING DESIGN. -- Upon the termination of the issuance of coins under this subsection, the design of all $1 coins shall revert to the so-called 'Sacagawea-design' $1 coins. >>

SilverEagles92 · December 4, 2006 8:04AM

Sacagawea in silver now, too???

itsnotjustme · December 4, 2006 8:06AM

At first I didn't understand what you meant by Sac in silver... had to re-read my post to see if I talked about silver. For a one ounce Sac, they will need to increase either the diameter or thickness!

dlimb2 · December 4, 2006 8:09AM

Silver Eagles are Bullion and not regarded as the same.

Only coins used in commerce.

itsnotjustme · December 4, 2006 8:11AM

Come on... a $1 coin is a $1 coin. Unless it depends on what the definition of all is.

notwilight · December 4, 2006 8:12AM

<< Silver Eagles are Bullion and not regarded as the same. >>

Are they a $1 coin? yes.

Does this law apply to them? Don't know. Is there a scope section of the text?

--Jerry

itsnotjustme · December 4, 2006 8:29AM

ubl145.109.pdf">Link

119 STAT. 2665 PUBLIC LAW 109–145—DEC. 22, 2005
(7) Sacagawea, as currently represented on the new $1
coin, is an important symbol of American history.
(8) Many people cannot name all of the Presidents, and
fewer can name the spouses, nor can many people accurately
place each President in the proper time period of American
history.
(9) First Spouses have not generally been recognized on
American coinage.
(10) In order to revitalize the design of United States
coinage and return circulating coinage to its position as not
only a necessary means of exchange in commerce, but also
as an object of aesthetic beauty in its own right, it is appropriate
to move many of the mottos and emblems, the inscription
of the year, and the so-called ‘‘mint marks’’ that currently
appear on the 2 faces of each circulating coin to the edge
of the coin, which would allow larger and more dramatic artwork
on the coins reminiscent of the so-called ‘‘Golden Age
of Coinage’’ in the United States, at the beginning of the Twentieth
Century, initiated by President Theodore Roosevelt, with
the assistance of noted sculptors and medallic artists James
Earle Fraser and Augustus Saint-Gaudens.
(11) Placing inscriptions on the edge of coins, known as
edge-incusing, is a hallmark of modern coinage and is common
in large-volume production of coinage elsewhere in the world,
such as the 2,700,000,000 2-Euro coins in circulation, but it
has not been done on a large scale in United States coinage
in recent years.
(12) Although the Congress has authorized the Secretary
of the Treasury to issue gold coins with a purity of 99.99
percent, the Secretary has not done so.
(13) Bullion coins are a valuable tool for the investor and,
in some cases, an important aspect of coin collecting.
SEC. 102. PRESIDENTIAL $1 COIN PROGRAM.
Section 5112 of title 31, United States Code, is amended by
adding at the end the following:
‘‘(n) REDESIGN AND ISSUANCE OF CIRCULATING $1 COINS HONORING
EACH OF THE PRESIDENTS OF THE UNITED STATES.—
‘‘(1) REDESIGN BEGINNING IN 2007.—
‘‘(A) IN GENERAL.—Notwithstanding subsection (d) and
in accordance with the provisions of this subsection, $1
coins issued during the period beginning January 1, 2007,
and ending upon the termination of the program under
paragraph (8), shall—
‘‘(i) have designs on the obverse selected in accordance
with paragraph (2)(B) which are emblematic of
the Presidents of the United States; and
‘‘(ii) have a design on the reverse selected in
accordance with paragraph (2)(A).
‘‘(B) CONTINUITY PROVISIONS.—
‘‘(i) IN GENERAL.—Notwithstanding subparagraph
(A), the Secretary shall continue to mint and issue
$1 coins which bear any design in effect before the
issuance of coins as required under this subsection
(including the so-called ‘Sacagawea-design’ $1 coins).
Theodore
Roosevelt.
Earle Fraser.
Augustus
Saint-Gaudens.
Sacagawea.
VerDate 14-DEC-2004 10:40 Jan 23, 2006 Jkt 049139 PO 00145 Frm 00003 Fmt 6580 Sfmt 6581 E:PUBLAWPUBL145.109 APPS06 PsN: PUBL145
119 STAT. 2666 PUBLIC LAW 109–145—DEC. 22, 2005
‘‘(ii) CIRCULATION QUANTITY.—Beginning January
1, 2007, and ending upon the termination of the program
under paragraph (8), the Secretary annually shall
mint and issue such ‘Sacagawea-design’ $1 coins for
circulation in quantities of no less than 1⁄3 of the total
$1 coins minted and issued under this subsection.’’.
‘‘(2) DESIGN REQUIREMENTS.—The $1 coins issued in accordance
with paragraph (1)(A) shall meet the following design
requirements:
‘‘(A) COIN REVERSE.—The design on the reverse shall
bear—
‘‘(i) a likeness of the Statue of Liberty extending
to the rim of the coin and large enough to provide
a dramatic representation of Liberty while not being
large enough to create the impression of a ‘2-headed’
coin;
‘‘(ii) the inscription ‘$1’; and
‘‘(iii) the inscription ‘United States of America’.
‘‘(B) COIN OBVERSE.—The design on the obverse shall
contain—
‘‘(i) the name and likeness of a President of the
United States; and
‘‘(ii) basic information about the President,
including—
‘‘(I) the dates or years of the term of office
of such President; and
‘‘(II) a number indicating the order of the
period of service in which the President served.
‘‘(C) EDGE-INCUSED INSCRIPTIONS.—
‘‘(i) IN GENERAL.—The inscription of the year of
minting or issuance of the coin and the inscriptions
‘E Pluribus Unum’ and ‘In God We Trust’ shall be
edge-incused into the coin.
‘‘(ii) PRESERVATION OF DISTINCTIVE EDGE.—The
edge-incusing of the inscriptions under clause (i) on
coins issued under this subsection shall be done in
a manner that preserves the distinctive edge of the
coin so that the denomination of the coin is readily
discernible, including by individuals who are blind or
visually impaired.
‘‘(D) INSCRIPTIONS OF ‘LIBERTY’.—Notwithstanding the
second sentence of subsection (d)(1), because the use of
a design bearing the likeness of the Statue of Liberty
on the reverse of the coins issued under this subsection
adequately conveys the concept of Liberty, the inscription
of ‘Liberty’ shall not appear on the coins.
‘‘(E) LIMITATION IN SERIES TO DECEASED PRESIDENTS.—
No coin issued under this subsection may bear the image
of a living former or current President, or of any deceased
former President during the 2-year period following the
date of the death of that President.
‘‘(3) ISSUANCE OF COINS COMMEMORATING PRESIDENTS.—
‘‘(A) ORDER OF ISSUANCE.—The coins issued under this
subsection commemorating Presidents of the United States
shall be issued in the order of the period of service of
each President, beginning with President George Washington.
VerDate 14-DEC-2004 07:55 Jan 04, 2006 Jkt 049139 PO 00145 Frm 00004 Fmt 6580 Sfmt 6581 E:PUBLAWPUBL145.109 APPS10 PsN: PUBL145
119 STAT. 2667 PUBLIC LAW 109–145—DEC. 22, 2005
‘‘(B) TREATMENT OF PERIOD OF SERVICE.—
‘‘(i) IN GENERAL.—Subject to clause (ii), only 1 coin
design shall be issued for a period of service for any
President, no matter how many consecutive terms of
office the President served.
‘‘(ii) NONCONSECUTIVE TERMS.—If a President has
served during 2 or more nonconsecutive periods of
service, a coin shall be issued under this subsection
for each such nonconsecutive period of service.
‘‘(4) ISSUANCE OF COINS COMMEMORATING 4 PRESIDENTS
DURING EACH YEAR OF THE PERIOD.—
‘‘(A) IN GENERAL.—The designs for the $1 coins issued
during each year of the period referred to in paragraph
(1) shall be emblematic of 4 Presidents until each President
has been so honored, subject to paragraph (2)(E).
‘‘(B) NUMBER OF 4 CIRCULATING COIN DESIGNS IN EACH
YEAR.—The Secretary shall prescribe, on the basis of such
factors as the Secretary determines to be appropriate, the
number of $1 coins that shall be issued with each of the
designs selected for each year of the period referred to
in paragraph (1).
‘‘(5) LEGAL TENDER.—The coins minted under this title
shall be legal tender, as provided in section 5103.
‘‘(6) TREATMENT AS NUMISMATIC ITEMS.—For purposes of
section 5134 and 5136, all coins minted under this subsection
shall be considered to be numismatic items.
‘‘(7) ISSUANCE OF NUMISMATIC COINS.—The Secretary may
mint and issue such number of $1 coins of each design selected
under this subsection in uncirculated and proof qualities as
the Secretary determines to be appropriate.
‘‘(8) TERMINATION OF PROGRAM.—The issuance of coins
under this subsection shall terminate when each President
has been so honored, subject to paragraph (2)(E), and may
not be resumed except by an Act of Congress.
‘‘(9) REVERSION TO PRECEDING DESIGN.—Upon the termination
of the issuance of coins under this subsection, the design
of all $1 coins shall revert to the so-called ‘Sacagawea-design’
$1 coins.’’.

dlimb2 · December 4, 2006 8:45AM

It'snotjustme...I wish you were right!

Bear · December 4, 2006 8:46AM

And, yada, yada, yada.

Gemineye · December 4, 2006 9:08AM

<< REDESIGN AND ISSUANCE OF CIRCULATING $1 COINS HONORING
EACH OF THE PRESIDENTS OF THE UNITED STATES.— >>

I believe circulating is the key.......