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April 25, 2019
U.S. Dollar Coins: Current Status and Authorization of the
American Innovation $1 Coins
On July 20, 2018, P.L. 115-197, the American Innovation
Circulating vs. Commemorative Coins
$1 Coin Act, was signed into law. This law requires the
Generally, coins are either circulating (i.e., are distributed
Secretary of the Treasury to mint new $1 coins “in
by the Federal Reserve to American financial institutions
recognition of American innovation and significant
and used as money to exchange for goods and services) or
innovation and pioneering efforts of individuals or groups
commemorative (i.e., sold by the Mint to collectors to
from each of the 50 States, the District of Columbia, and
honor someone or something). The U.S. Mint also produces
the United States territories.” The first coin was minted in
silver and gold bullion coins.
fall 2018, and four new coins are to be produced each year
through 2032.
Circulating $1 Coins
$1 coins from 1979-1981 and 1999 (Susan B. Anthony) and
“As a country, we continue to innovate and create in a
the 2000s (Sacagawea) are circulating. In recent years, the
way that no one else does…. It is that innovation and
U.S. Mint has produced $1 coins as a part of three different
creation that creates more and better jobs for our
programs: Native American $1 coins, presidential $1 coins,
society, our community, and our families. So I think it
and American Innovation $1 coins. The Native American
is a wonderful idea to celebrate that by way of a coin
$1 and American Innovation $1 coins are currently in
that … celebrates this great American trade.”
production.
-Rep. Sean Duffy, Congressional Record,
Native American $1 Coins
January 16, 2018
Circulating $1 coins currently honor Native Americans and
the important contributions made by Indian Tribes and
The American Innovation $1 coins are circulating
individuals in U.S. history (31 U.S.C. §5112(r)). First
numismatic items. Pursuant to the Secretary of the
issued in 2008, they feature Sacagawea on the obverse and
Treasury’s order of December 13, 2011, however, they will
a design that “bear[s] images celebrating the important
not be sold to the Federal Reserve for distribution to banks.
contributions made by Indian Tribes and individual Native
Americans to the development of the United States and the
Congressional Involvement in Coin
history of the United States” on the reverse. Figure 1 shows
Design
the 2018 and 2019 Native American $1 coins.
The creation and circulation of money in the United States
involves several agencies. The Federal Reserve Board has
Figure 1. 2018 and 2019 Native American $1 Coins
the authority to issue paper currency, which it orders from
the Department of the Treasury’s Bureau of Engraving and
Printing. Coins are minted and issued by the U.S. Mint
(although the Federal Reserve influences the amounts by
providing the Mint with monthly orders and forecasts). In
addition, the designs of coins are prescribed by Congress,
and an act of Congress is required to change the design of
coins.
Since the enactment of the Coinage Act of 1792 (1 Stat.
246), which established the U.S. Mint and prescribed
various aspects of U.S. coinage, Congress has been
involved in the design of circulating coins. For example, the
Coinage Act directed the U.S. Mint to strike coins of
specific denominations—Eagles ($10), Half Eagles ($5),
Quarter Eagles ($2.5), dollars ($1), half dollars ($0.50),
quarter dollars ($0.25), dimes ($0.10), half dimes ($0.05),
cents ($0.01), and half cents ($0.005)—with specific
images and words, including images of eagles and the
words “United States of America.” Additionally, recent
laws have prescribed certain images that appear on the
Source: U.S. Mint.
obverse or reverse of specific coins.
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U.S. Dollar Coins: Current Status and Authorization of the American Innovation $1 Coins
Presidential $1 Coins
The American Innovation $1 Coin
Between 2007 and 2016, the U.S. Mint issued $1 coins to
Pursuant to P.L. 115-197, the American Innovation $1 Coin
honor each deceased former President (P.L. 109-145).
program is to run for a total of 15 years. All American
These coins stopped being sold to the Federal Reserve for
Innovation $1 coins will feature the Statue of Liberty on the
circulation in 2011. The first coin featured George
obverse and a unique design emblematic of a significant
Washington, and the final coin featured Ronald Reagan.
innovation or innovator(s) from each state on the reverse.
Should Congress want to honor an additional president, the
These coins are circulating numismatic items. Only enough
program would require reauthorization. Figure 2 shows the
will be produced to meet collector demand.
Ronald Reagan Presidential $1 Coin, the last issued by the
U.S. Mint. The presidential $1 coins featured the likeness of
In 2018, the first coin was issued. The law specified that the
the President on the obverse and the Statue of Liberty on
first coin may be minted to introduce the series of coins and
the reverse.
feature a reverse that bears the inscription “United States of
America” and “American Innovators” and a representation
Figure 2. Ronald Reagan Presidential $1 Coin
of the signature of George Washington, as shown on the
first patent issued in 1790 to Samuel Hopkins. Figure 4
shows the 2018 American Innovation coin.
Figure 4. 2018 American Innovation $1 Coin
Source: U.S. Mint, “Ronald Reagan Presidential $1 Coin,” at
https://www.usmint.gov/coins/coin-medal-programs/presidential-
dol ar-coin/ronald-reagan.
Commemorative $1 Coins
Source: U.S. Mint, “American Innovation $1 Coin,” at
Commemorative coins are produced by the U.S. Mint
https://www.usmint.gov/coins/coin-medal-programs/american-
pursuant to an act of Congress. These coins celebrate and
innovation-dol ar-coins/introductory-coin.
honor American people, places, events, and institutions.
Although they are considered legal tender, they are not
Following the issuance of the first coin in 2018, the
minted for general circulation.
program is to run for an additional 14 years (2019-2032),
with four states featured each year. The state $1 coins will
First issued in 1892, today’s commemorative coins can be
also feature the Statue of Liberty on the obverse. The
issued as $5 gold coins, $1 silver coins, $0.50 clad coins, or
reverse will be unique for each state and territory.
as a combination of coins. Historically, the most popular
denomination authorized is the $1 silver coin. Some coin
Coins will be issued in the order that the states ratified the
programs authorize only a $1 silver coin (e.g., Lions Club
constitution or were admitted to the Union. Once all 50
International Centennial Silver Dollar [P.L. 112-181]),
states have been honored, the District of Columbia’s and
while others include the $1 silver coin in combination with
the territories’ coins will be minted, beginning with the
$5 gold and/or $0.50 clad coins. Figure 3 shows the Louis
District of Columbia, and then the Commonwealth of
Braille commemorative silver dollar (2009).
Puerto Rico, Guam, American Samoa, the U.S. Virgin
Figure 3. Louis Braille Bicentennial Silver Dollar
Islands, and the Commonwealth of the Northern Mariana
Islands.
For additional information on circulating coins, see CRS In
Focus IF10533, Congressional Involvement in the Design of
Circulating Coins, by Jacob R. Straus. For additional
information on commemorative coins, see CRS In Focus
IF10262, Commemorative Coins: An Overview, by Jacob R.
Straus; and CRS Report R44623, Commemorative Coins:
Background, Legislative Process, and Issues for Congress,
by Jacob R. Straus.
Source: U.S. Mint, “Louis Brail e Bicentennial Silver Dollar,” at
Jacob R. Straus, Specialist on the Congress
https://www.usmint.gov/coins/coin-medal-programs/commemorative-
coins/louis-brail e-bicentennial.
IF11190
https://crsreports.congress.gov
U.S. Dollar Coins: Current Status and Authorization of the American Innovation $1 Coins
Disclaimer
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