U.S. Dollar Coins: History and Current Status

U.S. Dollar Coins: History and Current Status

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Updated January 6, 2023
U.S. Dollar Coins: History and Current Status
The Secretary of Treasury, through the U.S. Mint, is
contributions made by Indian Tribes and individual Native
statutorily authorized to issue specific denominations of
Americans to the development of the United States and the
circulating coins (31 U.S.C. §5112). The dollar coin was
history of the United States” on the reverse. Figure 1 shows
first authorized in the Coinage Act of 1792 (1 Stat. 246) and
the 2022 and 2023 Native American $1 coins.
initially featured images such as Liberty on the (front)
obverse and eagles on the (back) reverse. The first dollar
Figure 1. 2022 and 2023 Native American $1 Coins
coin to feature a President was issued in 1971
(Eisenhower). Since then, the Mint has redesigned the $1
coin several times.
Circulating vs. Commemorative Coins
Generally, dollar coins are either circulating (i.e., sold by
the U.S. Mint to the Federal Reserve for distribution to
American financial institutions and used as money to
exchange for goods and services) or commemorative (i.e.,
sold by the Mint as numismatic items to collectors to honor
someone or something). The U.S. Mint also produces silver
and gold bullion $1 coins.
As with other coinage, the U.S. Mint sells $1 coins to the
Federal Reserve, which in turn fulfills orders from banks. In
2011, the number of surplus (e.g., nondistributed by the
Federal Reserve) $1 coins had grown to nearly 1.4 billion.
To address this situation, on December 13, 2011, the
Secretary of the Treasury issued an order to reduce the
number of surplus $1 coins. Since the order, most $1 coins
have been considered “circulating numismatic” items (i.e.,
they could be ordered by the Federal Reserve for

circulation, but are generally only produced in quantities
Source: U.S. Mint.
necessary to meet collector demand).
Presidential $1 Coins
Circulating $1 Coins
Between 2007 and 2016, the U.S. Mint issued $1 coins to
In recent years, the U.S. Mint has produced $1 coins as a
honor each deceased former President (P.L. 109-145).
part of three different programs: Native American $1 coins,
These coins featured the President on the obverse and the
presidential $1 coins, and American Innovation $1 coins.
Statue of Liberty on the reverse. In January 2020, a $1 coin
The Native American $1 and American Innovation $1 coins
for President George H.W. Bush was authorized (P.L. 116-
are currently in production.
112). Figure 2 shows the George H.W. Bush Presidential
$1 Coin.
The first dollar coin to feature a President was issued in
1971 (Eisenhower). Between the 1971 Eisenhower $1 coin
Figure 2. George H.W. Bush Presidential $1 Coin
and the issuance of President and Native American $1
coins, the U.S. Mint redesigned the $1 coin twice. In 1976,
the Bicentennial $1 coin was issued. It featured President
Dwight D. Eisenhower on the obverse and the Liberty Bell
and moon on the reverse. In 1979 and 1981 and in 1999 the
Susan B. Anthony $1 coin was issued. It featured Susan B.
Anthony on the obverse and an eagle on the reverse.
Native American $1 Coins
Circulating $1 coins currently honor Native Americans and
the important contributions made by Indian Tribes and

individuals in U.S. history (31 U.S.C. §5112(r)). First
Source: U.S. Mint, “George H.W. Bush Presidential $1 Coin,” at
issued in 2008, they feature Sacagawea on the obverse and
https://www.usmint.gov/coins/coin-medal-programs/presidential-
a design that “bear[s] images celebrating the important
dol ar-coin/george-hw-bush.
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U.S. Dollar Coins: History and Current Status
The American Innovation $1 Coin
Figure 4. 2022 Negro Leagues Baseball
Since 2018, the U.S. Mint has issued American Innovation
Commemorative Silver $1 Coin
$1 coins (P.L. 115-197). These coins feature the Statue of
Liberty on the obverse and a unique design emblematic of a
significant innovation or innovator(s) from each state on the
reverse. These coins are circulating numismatic items. The
Mint will only produce enough to meet collector demand.
The American Innovation $1 coins are being minted in the
order the states ratified the constitution or were admitted to
the Union. Once all 50 states have been honored, the
District of Columbia’s and the territories’ coins will be
minted. The final coins will be minted in 2032. Figure 3
shows the 2022 Rhode Island American Innovation $1 coin.
Figure 3. 2022 Rhode Island American Innovation $1

Coin
Source: U.S. Mint, “Negro Leagues Basebal Commemorative Coin
Program.”

In 2021, the U.S. Mint struck silver $1 coins in honor of the
100th anniversary of the Morgan dollar and Peace dollar
coins (P.L. 116-286). In 2023, the U.S. Mint will again
issue the Morgan dollar and Peace dollar. Figure 5 shows
the 2021 Morgan and Peace dollar.
Figure 5. 2021 Morgan and Peace Dollars

Source: U.S. Mint, “American Innovation $1 Coin-Rhode Island.”
2026 Semiquincentennial
The Circulating Collectible Coin Redesign Act of 2020
(P.L. 116-330) authorized the redesign of dollar coins to
celebrate the semiquincentennial (250th anniversary) of the
United States in 2026. For the 250th anniversary of the
United States, the U.S. Mint is authorized to issue new $1
coins “with designs emblematic of the United States
semiquincentennial.” Semiquincentennial $1 coins would
be issued in addition to the Native American and American
Innovation $1 coins.
Commemorative $1 Coins
The U.S. Mint produces commemorative coins pursuant to
an act of Congress. These coins celebrate and honor
American people, places, events, and institutions. Although
they are legal tender, they are not minted for general
circulation.
First issued in 1892, commemorative coins can be issued as
$5 gold coins, $1 silver coins, or $0.50 clad coins, or as a

Source: U.S. Mint, “Morgan and Peace Dol ar Anniversary Coin
combination of coins. Historically, the most popular
Image.”
authorized denomination has been the $1 silver coin. Some
coin programs authorize only a $1 silver coin, while others
For additional information on circulating coins, see CRS In
include the $1 silver coin in combination with $5 gold
Focus IF10533, Congressional Involvement in the Design of
and/or $0.50 clad coins. For example, in 2021, the U.S.
Circulating Coins. For additional information on
Mint struck $1 coins to honor baseball’s Negro Leagues
commemorative coins, see CRS In Focus IF10262,
and the National Purple Heart Hall of Honor (along with $5
Commemorative Coins: An Overview.
gold and $0.50 clad coins of both coin programs). Figure 4
shows the 2022 Negro Leagues Baseball commemorative
Jacob R. Straus, Specialist on the Congress
coin.
IF11190
https://crsreports.congress.gov

U.S. Dollar Coins: History and Current Status

Disclaimer
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