Washington, DC — The Nation may exchange dollar bills next Thursday, November 15 at banks and financial institutions for shiny new Presidential $1 Coins honoring James Madison. President Madison was the fourth U.S. President, and this will be the Nation’s fourth Presidential $1 Coin.
Known as the Father of the Constitution, Madison was renowned for his acumen, and he was the Constitution’s leading advocate for 50 years. Madison wrote in 1829, “The happy union of these States is a wonder: their Constitution a miracle: their example the hope of Liberty throughout the World.”
“James Madison was a brilliant President, and his contributions to our young country should not be underestimated,” said United States Mint Director Ed Moy. “As Americans spend these new James Madison $1 Coins, I hope they’ll think about the man who fought so hard for the document that is the foundation of our law and democracy.”
The design of the James Madison $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 James Madison $1 Coin was designed by Joel Iskowitz, a United States Mint Artistic Infusion Master Designer from Woodstock, NY and sculpted by United States Mint Sculptor–Engraver Don Everhart. 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 United States Mint inaugurated the Presidential $1 Coin Series with the George Washington $1 Coin on February 15, 2007, in time for Presidents Day weekend. The John Adams $1 Coin followed on May 17, 2007, and the Thomas Jefferson $1 Coin was launched on August 16, 2007.
Photographs of the circulating James Madison $1 Coin are available at http://www.usmint.gov/pressroom/index.cfm?action=photo#Pres. TV stations wishing to feature the James Madison $1 Coin may obtain a coin by emailing: mwaters@webershandwick.com or call 312.988.2385 and provide your name, affiliate, address and phone number. Media outlets who wish to interview United States Mint Director Ed Moy about the new James Madison $1 Coin may call 202–354–7222.
SATELLITE FEEDS: B–Roll of the Madison $1 Coin will be fed on Wednesday and Thursday.
Wednesday, November 14, 2007, at 1:00 p.m. – 1:15 p.m. EST
GA 26C/17 DL 4040V
Thursday, November 15, 2007, at 4:30 a.m. – 4:45 a.m. EST
AMC 3/8 DL 3860V
More information about the Presidential $1 Coin Program is available at http://www.usmint.gov/mint_programs/coin/index.cfm.
Free lesson plans about the Presidents and the Presidential $1 Coin Program may be downloaded free at http://www.usmint.gov/kids/.
Additional informational materials about the Presidents and the Presidential $1 Coin Program are available at our materials web site.
History of the Presidential $1 Coin Program
Congress authorized, and President Bush approved, the Presidential $1 Coin Act of 2005 (Act). 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 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 of each coin will feature an image of a former President and the years of his term of office. The reverse 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 James Madison $1 Coin and all of the Presidential $1 Coins. Like the three Presidential $1 Coins before it, the James Madison $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.