The James Madison One Dollar Coin: A Collector’s Item & A Piece of History
The James Madison one dollar coin is a circulating commemorative coin issued by the United States Mint in 2007 as part of the Presidential $1 Coin Program. It honors James Madison, the fourth President of the United States. This coin is not only a piece of currency but also a symbol of American history and presidential legacy.
The Presidential $1 Coin Program
The Presidential $1 Coin Program was authorized by the Presidential $1 Coin Act of 2005. The program’s goal was to honor each deceased U.S. President in order of their term of service. These coins were intended to revitalize coin collecting and educate the public about U.S. history. Each coin features a portrait of the president on the obverse (front) and the Statue of Liberty on the reverse (back). Edge-lettering includes the year of minting, the mint mark, “E PLURIBUS UNUM,” and “IN GOD WE TRUST.” You can learn more about the Presidential $1 Coin Program on Wikipedia’s page about Presidential dollar coins.
James Madison: The Man on the Coin
James Madison, born in 1751, was a crucial figure in the founding of the United States. Known as the “Father of the Constitution,” he played a vital role in drafting the U.S. Constitution and the Bill of Rights. He served as the fourth President of the United States from 1809 to 1817, leading the nation through the War of 1812. The coin’s design aimed to capture his intellectual prowess and his significant contributions to the American political system.
Design and Features of the Coin
The obverse of the James Madison $1 coin features a portrait of President Madison designed by sculptor Joseph Menna. The reverse depicts the Statue of Liberty, a symbol of American freedom. The coin is made of a manganese-brass alloy (copper, zinc, manganese, and nickel), giving it a distinctive golden color. Unlike traditional coins, the $1 Presidential coins feature edge-lettering, which includes the year of minting, the mint mark (P or D), and the mottoes “E PLURIBUS UNUM” and “IN GOD WE TRUST.”
Collecting the James Madison Dollar Coin
While the James Madison $1 coin was issued for general circulation, many people collect them. Mint State (MS) examples, especially those in uncirculated condition, are valued more highly. Coin collectors often look for examples with strong strikes, minimal imperfections, and eye appeal. The coin’s historical significance and its place within the larger Presidential $1 Coin Program make it a popular collectible.
FAQs About the James Madison One Dollar Coin
Is the James Madison dollar coin still in circulation?
While initially intended for circulation, production for general use ceased in 2011. However, they can still be found and used as legal tender.
How much is a James Madison dollar coin worth?
Most James Madison dollar coins found in circulation are worth face value ($1). However, uncirculated examples or those with errors can be worth more to collectors.
Where can I find a James Madison dollar coin?
You might find them in change or at banks. Coin dealers and online marketplaces are good sources for buying specific mint marks or uncirculated versions.
What are some common errors found on the James Madison dollar coin?
Edge lettering errors, such as missing or doubled inscriptions, are the most sought-after by error collectors.
How many James Madison dollar coins were minted?
The Philadelphia Mint produced 36,400,000 coins and the Denver Mint produced 36,960,000 coins.
Summary
The James Madison one dollar coin serves as a lasting tribute to the fourth President of the United States and his instrumental role in shaping American democracy. Whether you are a seasoned coin collector or simply interested in American history, this coin offers a tangible connection to the past. Its distinctive design, historical significance, and place in the Presidential $1 Coin Program make it a noteworthy addition to any collection.
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