MILLIONS OF NEW THOMAS JEFFERSON $1 COINS ROLL INTO CIRCULATION
WASHINGTON (August 16, 2007) – The Nation is getting a new coin today – the Thomas Jefferson $1 Coin – the third coin in the United States Mint’s new Presidential $1 Coin series.
Thomas Jefferson $1 Coins are available at most banks and financial institutions throughout the country, starting today. The golden-colored Thomas Jefferson $1 Coins may also be purchased in collector bags and rolls on the United States Mint’s Web site, http://www.usmint.gov/, at noon ET.
The new Thomas Jefferson $1 Coin is the third coin in the series, because Thomas Jefferson was the Nation’s third President. But a survey released this week by the United States Mint found that only 30% of Americans know that fact. According to the Presidential $1 Coin Survey, only seven percent of Americans can name the Nation’s first four Presidents in order: George Washington, John Adams, Thomas Jefferson and James Madison.
“That’s what’s great about the Presidential $1 Coin Program,” said United States Mint Director Ed Moy. “These dramatic new Presidential $1 Coins provide a perfect opportunity for Americans to learn more about our Presidents and the critical roles they played in some of our Nation’s historic milestones.”
To help Americans brush up on their Presidential history, the United States Mint provides on its website downloadable lesson plans for teachers and parents; background information on the Presidents featured in the Presidential $1 Coin Program; and other fun interactive options. Information and materials are free at http://www.usmint.gov/.
The United States Mint inaugurated the Presidential $1 Coin series with the George Washington Presidential $1 Coin on February 15, 2007 in time for Presidents Day Weekend. The John Adams Presidential $1 Coin followed in May. The James Madison Presidential $1 Coin will be introduced on November 15, 2007.
“The Presidential $1 Coins not only have educational value,” said Director Moy. “They offer Americans a choice when it comes to their currency. While the dollar bill is useful in many instances, there are other times when a coin is more convenient, such as at vending machines and transit kiosks.”
More than half a billion George Washington and John Adams Presidential $1 Coins have been ordered by the Federal Reserve for circulation. Public awareness of the new Presidential $1 Coins has tripled from approximately 18 percent in November 2006, when the designs of the coins were unveiled, to 64 percent in June 2007. The United States Mint is offering financial institutions and retail businesses free informational materials via http://www.usmintinfo.gov/$1coin.
History of the Presidential $1 Coin Program
Congress authorized and President Bush approved the Presidential $1 Coin Act of 2005. The Act requires the Secretary of the Treasury to mint and issue Presidential $1 Coins honoring the United States Presidents in the order in which they served, with four new designs annually.
Each President will be honored with a single Presidential $1 Coin, regardless of the number of consecutive terms he served, except for Grover Cleveland, the only U.S. President to serve non-consecutive terms. He will be honored on two coins. No living, former or current President can be honored on a Presidential $1 Coin.
Unique Designs Honor Historic Figures
The design of the Thomas Jefferson $1 Coin, like all of the Presidential $1 Coins, was created to be bold and dramatic. Edge-lettering also draws attention to the inscriptions “E Pluribus Unum” and “In God We Trust,” as well as the date and the mint mark, distinguishing Presidential $1 Coins from all other coins in circulation today.
The obverse (heads side) of the Thomas Jefferson Presidential $1 Coin was designed and sculpted by Joe Menna, a United States Mint Medallic Artist. The reverse (tails side) on all the Presidential $1 Coins is a magnificent image of the Statue of Liberty, designed and sculpted by United States Mint Sculptor-Engraver Don Everhart.
The new Presidential $1 Coins are identical in color and size to the Golden Dollar featuring Sacagawea, and have the same distinctive rim and tactile features to assist the visually impaired. The obverse (heads side) of each coin will feature an image of a former President and the years of his term of office. The reverse (tails side) displays an image of the Statue of Liberty and the inscriptions “United States of America” and “$1.”
Distributed through Banks and Other Financial Institutions
The United States Mint and the Federal Reserve are taking steps to enable businesses and the public to obtain the new Thomas Jefferson $1 Coin and all of the Presidential $1 Coins. Like the two Presidential $1 Coins before it, the Thomas Jefferson $1 Coins will be shipped to banks and other financial institutions in rolls and small bags, unmixed with other $1 coins. Banks may order and store each Presidential $1 Coin up to two weeks before its introduction so financial institutions will have supplies on hand on the release date. The coins will be available to banks in unmixed rolls and bags for four weeks after their introduction. However, banks may re-order Presidential $1 Coins after the four-week window, in case there are remaining supplies. The special ordering process begins again two weeks prior to the date on which each new Presidential $1 Coin is released.
For more information on the new Presidential $1 Coins, go to www.usmint.gov/$1coin. For television stations ONLY, a satellite feed of b-roll showing the event at the Jefferson Memorial and Thomas Jefferson Presidential $1 Coins being minted will be available today, Thursday, August 16 at 4:30-4:45 a.m. ET - GA 26C, Tr. 9 DL 3880V and at 10:15-10:30 a.m. ET - GA 26C, Tr. 9 DL 3880V.
Digital images of the Thomas Jefferson $1 Coin may be obtained at http://www.usmint.gov/about_the_mint/CoinLibrary/index.cfm#Pres.
The United States Mint commissioned The Gallup Organization to conduct the Presidential $1 Coin Survey referenced in this release. Results for this panel study are based on telephone interviews with 1,000 national adults, aged 18 and older, conducted July 18-25, 2007. Respondents were drawn from Gallup's household panel, which was originally recruited through random selection methods. The final sample is weighted so it is representative of U.S. adults nationwide. For results based on the total sample of national adults, one can say with 95% confidence that the maximum margin of sampling error is ±4 percentage points. In addition to sampling error, question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of public opinion polls.