The James Madison Presidential $1 Coin: A Collector’s Item
The James Madison Presidential $1 Coin is part of the United States Mint’s Presidential $1 Coin Program, honoring former U.S. presidents. Released in 2007, this coin features a portrait of James Madison, the fourth President of the United States, and is a popular item among coin collectors.
Design and Features
The obverse (front) of the coin showcases a portrait of James Madison designed and sculpted by Don Everhart. Inscriptions include “JAMES MADISON,” “IN GOD WE TRUST,” “4th PRESIDENT,” and “1809-1817,” denoting his years in office. The reverse (back) of the coin features a rendition of the Statue of Liberty, a common design element for all coins in the Presidential $1 Coin Program. The inscription “UNITED STATES OF AMERICA” and “$1” are also present.
Minting and Distribution
The James Madison $1 Coin was minted at both the Philadelphia and Denver Mint facilities. Coins produced at the Philadelphia Mint bear a “P” mint mark, while those from Denver bear a “D” mint mark. The coins were distributed through banks and other financial institutions, as well as being available for purchase directly from the U.S. Mint. However, they are no longer produced for circulation.
Edge Inscription
A distinctive feature of these coins is the edge inscription. Originally, the edge inscription featured “E PLURIBUS UNUM,” “IN GOD WE TRUST,” and the year of minting, separated by stars. Early versions lacked “IN GOD WE TRUST” and became a valuable error coin. You can learn more about the program and specifications from the Presidential dollar coins Wikipedia page.
Collectibility and Value
While the James Madison $1 Coin was intended for circulation, it is now primarily collected. The value of the coin typically depends on its condition, mint mark, and any potential errors. Uncirculated coins, especially those with errors, can fetch a higher price than those that were circulated.
FAQs
What is the value of a James Madison $1 coin?
The value of a James Madison $1 coin typically ranges from $1 to a few dollars if circulated. Uncirculated coins and those with errors can be worth considerably more.
Where can I buy James Madison $1 coins?
You can find James Madison $1 coins at coin shops, online auction sites (like eBay), and from coin dealers.
Are there any error James Madison $1 coins?
Yes, some early versions of the Presidential $1 coins, including the James Madison coin, were released without the “IN GOD WE TRUST” inscription on the edge, making them valuable error coins.
When was the James Madison $1 coin released?
The James Madison $1 coin was released in 2007.
Is the James Madison $1 coin made of gold?
No, the James Madison $1 coin is not made of gold. It is composed of manganese brass clad with layers of copper-nickel.
Summary
The James Madison $1 Coin stands as a piece of American numismatic history, honoring the fourth President of the United States. Its unique design, coupled with the occasional error, makes it a sought-after coin for collectors interested in the Presidential $1 Coin Program.
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