Scott's Hail to the PF70 Chiefs
Private
Updated:
10/14/2021
Views: 2,303
On May 17, 2005, Senator John E. Sununu and 70 co-sponsors introduced Senate Bill 1047, the Presidential $1 Coin Act of 2005. This act would honor all non-living US Presidents in a program similar to the successful Statehood Quarter program, and was designed to bolster the circulation of the $1 coin. This bill also called for the changes to the Lincoln Memorial Cent in 2009 in celebration of the bicentennial of Abraham Lincoln's birth, as well as the First Lady bullion and bronze medals. The bill was passed by the Senate on November 18, 2005 and by the House of Representatives on December 13, 2005. The bill was presented to President George W. Bush on Decmeber 15, 2005 and was signed into law on December 22, 2005.
The Presidential dollars would be issued four times each year, starting in 2007 and ending when all eligible subjects had been honored. Each President would be honored in the order in which they had served. The coins obverse would feature the image of the Presidents, their name, dates of the term or terms they served, and the motto In God We Trust. The reverse of the coin, designed by Don Everhart, would feature the Statue of Liberty, the denomination and the inscription United States of America. The coin would also feature edge inscriptions with the date of minting, the mint mark and the motto E Pluribus Unum. Originally, the motto In God We Trust was on the edge, but minting errors caused some coins to lack the In God We Trust motto, causing an uproar with some citizens who did not want to use the Godless Dollar. The switch was made to avoid any more such unwanted publicity.
In 2011, a growing stockpile of these coins, estimated at 1.4 billion dollars prompted Representative Jackie Speier to recommend that the program be cancelled and that production of all Presidential Dollars be halted immediately. On December 13, 2011, Vice President Joe Biden and Treasury Secretary Timothy Geithner announced that the minting of Presidential Dollar coins for circulation would be suspended, but they would continue to issue the coins for collectors.
Coin Specifications
Mass: 8.1 grams
Diameter: 26.5 mm
Thickness: 2.0 mm
Composition: Copper with manganese brass cladding; 88.5% Copper, 6% Zinc, 3.5% Manganese and 2% Nickel
This set contains only the finest examples of these coins, each being Proof 70 Ultra Cameo. Each coin description contains the coins designers, release date, its mintage, a short paragraph summarizing that Presidents term as well as numismatic highlights during those years.
Many collectors do not like this series, but I find it fascinating. It really plays to my love of American history, and prompted me to go beyond my interest in the Revolutionary War period. My goal for the presentation of this set is to create not only a visually pleasing set, but one that entertains with some seldom heard facts about our leaders. I hope everyone who views it comes away with a little more knowledge, a better appreciation for the series as a whole and a smile.
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Scott's Hail to the PF70 Chiefs
By SPHansen
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