The James Madison Presidential $1 Coin: A Historical Tribute
The James Madison $1 coin, part of the Presidential $1 Coin Program, honors the fourth President of the United States. It was released in 2007 and features a portrait of James Madison on the obverse and the Statue of Liberty on the reverse, similar to other coins in the series. These coins are notable for their edge inscriptions, containing the year of issue, mint mark, “E Pluribus Unum,” and “In God We Trust.”
Design and Features
The obverse of the James Madison $1 coin showcases a dignified portrait of James Madison. The design aims to capture his essence as a Founding Father and a key figure in the shaping of the U.S. Constitution. On the reverse, the coin displays a rendition of the Statue of Liberty, a consistent feature across all Presidential $1 coins.
Edge Inscriptions
A distinctive characteristic of these coins is the inscription on the edge. The edge inscription includes the year the coin was minted (2007 in the case of the James Madison coin), the mint mark (P or D, representing Philadelphia or Denver), “E Pluribus Unum,” and “In God We Trust.” This edge inscription differs from traditional placement on the face of the coin and was a design innovation for this series.
The Presidential $1 Coin Program
The Presidential $1 Coin Program was established by the Presidential $1 Coin Act of 2005, which aimed to honor each deceased U.S. President in order of their term of service. The Presidential $1 Coin Program was intended to promote interest in presidential history and encourage coin collecting. The program ran from 2007 to 2016, issuing four coins each year, honoring a different president.
Collectibility and Value
While the James Madison $1 coin isn’t rare in terms of mintage numbers, some collectors seek out uncirculated examples or those with errors. The value of these coins typically hovers around their face value ($1), but uncirculated or error coins can fetch a premium among numismatists. The coins were intended for circulation, but many were saved by collectors, contributing to their continued availability.
Frequently Asked Questions
How many James Madison $1 coins were minted?
The United States Mint produced a significant number of James Madison $1 coins at both the Philadelphia and Denver mints.
Are James Madison $1 coins still in circulation?
Yes, although they are not as commonly seen as other denominations, James Madison $1 coins are still legal tender and can be found in circulation.
What is the value of a James Madison $1 coin?
In most cases, a circulated James Madison $1 coin is worth its face value of $1. Uncirculated examples or those with errors may have a higher value to collectors.
Where can I find James Madison $1 coins?
You might find them in your change, at banks, or through coin dealers and collectors. Coin shows are another great venue.
What other presidents are featured in the Presidential $1 Coin Program?
The program featured George Washington, John Adams, Thomas Jefferson, and every subsequent deceased president, up to Gerald Ford, who was the last president honored by the program.
Summary
The James Madison $1 coin serves as a lasting tribute to the fourth President of the United States, highlighting his significant contributions to American history. Part of a larger initiative to honor all U.S. presidents, this coin remains a collectible item and a reminder of the nation’s past.
Leave a Reply